Now that the stock market has dipped a little, it may be time to consider opening that account with one of the best online brokers around (at least, in my opinion). TradeKing is one of the brokers we often mention and actively promote here: I particularly like their flat commission rates at $4.95 per stock trade (option trades go for $4.95 + 0.65 per contract). They’ve also got great investment tools, a full resource library and an active community of investors and traders on their site.
So if you’re thinking about making a switch or getting started with a new broker, then here’s your chance to pad your pockets with a nice cash bonus from TradeKing. Here’s their latest promotion: if you happen to be a current account holder with them, and you refer new customers to TradeKing, then you’re eligible to receive a $100 cash bonus for each referral. This refer a friend bonus is double the usual amount ($50) that TradeKing gives away for referrals, so for a limited period, you can rake in the cash if you have a good number of friends who are able to set up and qualify for an account with this discount broker.
How To Get a $100 Cash Bonus From TradeKing (Per Referral)
In summary, here are the steps you can take to partake of the cash bonus offer from TradeKing:
1. You must have a regular (non-retirement) account with TradeKing in order to be eligible.
2. Refer new accounts to TradeKing by using the “Refer A Friend” feature on your account dashboard: all you have to do is provide TK with the email addresses of your friends. TradeKing won’t be using these addresses other than for contacting your friends about your referral.
3. Each new account holder you’ve referred will need to fund their account with a minimum of $1,000. The new customer must also execute at least one trade in order to count as a valid referral.
4. For each eligible account referred, you’ll receive $100, which will be deposited into your brokerage account.
5. There are NO limits to the number of friends you can refer. You’ll be able to track your referrals online.
6. Your account with TradeKing needs to be in good standing for at least 6 months.
7. This special promotion will only be valid until February 11, 2010. After this date, the bonus will revert to its original amount, which is $50 per successful referral (or “friend you refer”).
Perhaps one way to persuade someone you know to open an account is to have them split the bonus with you. As far as I know, there’s no rule that says you can’t share your proceeds with anyone else. Why not share the $100 bounty and give away half to the friend you referred (or maybe treat them to dinner)?
{ 5 comments… read them below or add one }
I do not use TradeKing but it sounds promising. You cannot beat a trade for under $5 bucks. All your discount brokerage sites are similar – the big advantage is the price of the trade. If you do even a few stock trades a year, it is worthwhile to get an account like TradeKing, Etrade, etc.
I currently use Sharebuilder because I had an ING Savings account. You can link them and transfer money very easily. They are $9.99 a trade, which I think is reasonable.
$100 cash not bad! I use Zecco for the 10 free trades per month ($25k and up accounts) or $4 per trade after that i believe.
Most of the shares I trade are less than $1 so that extra penny a share won’t work for me. Any recommendations? I use Schwab right now, and they’re OK on low-priced shares, but their new website seems really clunky and slow.
i am really interested. I have some friends who are interested in starting online stock trading. Will i get paid those $100 just for an account or do they have to be active? Anyhow this is a cool opportunity.
I have heard some good things about trade king.