Firstrade, an online discount broker, is running a Triple-Bonus promotion from now till March 31, 2009.
Depending on the amount of deposit when opening a new brokerage account, you can get:
- 100 commission free trades for $2,000 or more;
- 100 commission free trades plus $100 account transfer rebate for $25,000 or more;
- 100 commission free trades, $100 account transfer rebate, plus $100 cash bonus for $50,000 or more.
Right now, Firstrade charge $6.95 per stock trade plus an additional $0.75 per option contract. So 100 commission free trades equal to $695, which is a quite nice promotion. But here’s the catch: You will still have to pay the $6.95 commission at the time of trades. Qualified trades will be credited up to $6.95 per trade within 8 weeks after the trades are completed. And there’s one more, a big one: the 100 commission free trades have to be used within 30 days after the account is opened.
I wonder how many people out there can make that many trades in 30 days. For most people, the 100 commission free trades are the likely rewards they will get. Even if you can’t use up all the 100 trades in a month, they are free, so that’s still your gain.
The offer is not good for international accounts, business, valet, ESA, IRA and other retirement accounts.
If you are interested in the bonus, you can use this link to open a regular brokerage account with Firstrade.
