The Final, Definitive Thread on Brokerage Transfer Bonuses

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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by LadyGeek »

I merged willybiggs' thread into the ongoing discussion.

(Thanks to the member who reported the post and provided a link to this thread.)
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SJR
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SJR »

I had trouble with Webull's reporting cost basis to TT following a transfer from their omnibus margin account. Luckily I had requested a copy of the cost basis from Webull via chat when I brought the securities in and they sent me a PDF or Excel of it which I saved. I furnished it to TT and they sent it to Apex to have it updated. It was only a minor inconvenience as a result. My other account at Webull (Margin, tracked by Apex) transferred over without any issues.
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Re: Opinions needed on WF Bonus offer situation

Post by sc9182 »

abracadabra11 wrote: Sun Mar 31, 2024 7:29 am I would forego the Wells bonus. It just wasn't worth the trouble IMO.
we had WF branch nearby. Beauty of WF bonus is that: it accepts IRA assets and/or brokerage assets. IIRC., you can do one bonus nearly a year (right after 12-months) - as this bonus been renewing ever so often. Both myself and spouse independently participated in this bonus. Guaranteed $2500 within 4-months is real cash-money to splurge. Double it up with spouse - now you can have double the fun !!
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante »

hmw wrote: Sat Mar 30, 2024 11:27 am I transferred the cost basis from Fido to Webull. Of course Webull claimed that it didn't receive the cost basis. So I asked Fido to send again. Webull claimed that it still did not receive it. Webull rep then asked me to send Webull a screenshot of the cost basis I had on file. The Webull app then showed the correct avereage price. There was no way to actaully see the cost basis of individual lots on apex for my account. I subsequently transferred the said stock to RH. After repeated request to re-send the cost basis to RH, RH still does not have the cost basis. What a pain. I think threatening a FINRA or an actual complaint will be the next step.
I don't see a need to threaten or tell them (again). Just complain to the regulators and see what happens.
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whodidntante
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Re: Opinions needed on WF Bonus offer situation

Post by whodidntante »

sc9182 wrote: Sun Mar 31, 2024 10:01 am
abracadabra11 wrote: Sun Mar 31, 2024 7:29 am I would forego the Wells bonus. It just wasn't worth the trouble IMO.
we had WF branch nearby. Beauty of WF bonus is that: it accepts IRA assets and/or brokerage assets. IIRC., you can do one bonus nearly a year (right after 12-months) - as this bonus been renewing ever so often. Both myself and spouse independently participated in this bonus. Guaranteed $2500 within 4-months is real cash-money to splurge. Double it up with spouse - now you can have double the fun !!
It was an excellent bonus despite the SNAFUs I reported. I would do it again.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Mike14 »

SJR wrote: Sun Mar 31, 2024 8:58 am I had trouble with Webull's reporting cost basis to TT following a transfer from their omnibus margin account. Luckily I had requested a copy of the cost basis from Webull via chat when I brought the securities in and they sent me a PDF or Excel of it which I saved.
How easy was it to get the cost basis export from Webull?
Did they actually have the cost basis on file before you asked the for the export, or did they only then realize that they didn't have it?
Presumably, your account started out as a APEX margin account when you transferred the assets in initially, and was later converted to omnibus margin?
SJR
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SJR »

Mike14 wrote: Sun Mar 31, 2024 11:45 pm
SJR wrote: Sun Mar 31, 2024 8:58 am I had trouble with Webull's reporting cost basis to TT following a transfer from their omnibus margin account. Luckily I had requested a copy of the cost basis from Webull via chat when I brought the securities in and they sent me a PDF or Excel of it which I saved.
How easy was it to get the cost basis export from Webull?
Did they actually have the cost basis on file before you asked the for the export, or did they only then realize that they didn't have it?
Presumably, your account started out as a APEX margin account when you transferred the assets in initially, and was later converted to omnibus margin?
They didn't understand what I was requesting but after some back and forth they finally understood and sent it to me. This was immediately following the transfer into Webull. My own account was apex and remainded as such. My wife's was omnibus. Mine transferred out flawlessly. Hers was missing cost basis on way out.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by JReality »

I just funded a TT cash account and bought as much BIL as I could with the cash. My understanding at TT is that there is a clearing fee when you buy/sell stocks/ETFs, which is $0.0008 per share, as well as regulatory fee(s) when selling. I'm planning on leaving the money in BIL unless we get a great buying opportunity in the markets. Will buy a little more BIL when the promotion cash arrives in the account. UPDATE: Never mind, I see the buying power won't increase by the amount of the cash bonus, so the cash bonus can NOT earn interest (or at least not a meaningful amount) until after the 12 months, if I'm understanding correctly.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hmw »

SJR wrote: Mon Apr 01, 2024 7:55 pm
Mike14 wrote: Sun Mar 31, 2024 11:45 pm
SJR wrote: Sun Mar 31, 2024 8:58 am I had trouble with Webull's reporting cost basis to TT following a transfer from their omnibus margin account. Luckily I had requested a copy of the cost basis from Webull via chat when I brought the securities in and they sent me a PDF or Excel of it which I saved.
How easy was it to get the cost basis export from Webull?
Did they actually have the cost basis on file before you asked the for the export, or did they only then realize that they didn't have it?
Presumably, your account started out as a APEX margin account when you transferred the assets in initially, and was later converted to omnibus margin?
They didn't understand what I was requesting but after some back and forth they finally understood and sent it to me. This was immediately following the transfer into Webull. My own account was apex and remainded as such. My wife's was omnibus. Mine transferred out flawlessly. Hers was missing cost basis on way out.
Can you share what happened to your wife's account cost basis? How was it resovled at the end? I am dealing with the same problem as your wife. Thanks
EnjoyIt
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by EnjoyIt »

I’m curious, did anyone who left Webull’s omnibus not have issues with cost basis?
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by HomeStretch »

New MS E*TRADE bonus offer for existing customers for non-retirement accounts. Bonus tiers start at $125 (for $5,000) up to $6,000 (for $2 million). Offer expires 4/30/24.
Edit - targeted offer per poster, below.
Last edited by HomeStretch on Wed Apr 03, 2024 7:02 pm, edited 1 time in total.
sc9182
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sc9182 »

HomeStretch wrote: Wed Apr 03, 2024 12:12 pm New MS E*TRADE bonus offer for existing customers for non-retirement accounts. Bonus tiers start at $125 (for $5,000) up to $6,000 (for $2 million). Offer expires 4/30/24.
https://us.etrade.com/promo/6000cfc-brokerage-040124?
thanks - decent bonus tiers;
They require 6-month holding period after transfer-in to earn/keep the bonus.

Unfortunately no IRAs - only “brokerage” funds eligible — pretty good still !!
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

sc9182 wrote: Wed Apr 03, 2024 2:53 pm
HomeStretch wrote: Wed Apr 03, 2024 12:12 pm New MS E*TRADE bonus offer for existing customers for non-retirement accounts. Bonus tiers start at $125 (for $5,000) up to $6,000 (for $2 million). Offer expires 4/30/24.
https://us.etrade.com/promo/6000cfc-brokerage-040124?
thanks - decent bonus tiers;
They require 6-month holding period after transfer-in to earn/keep the bonus.

Unfortunately no IRAs - only “brokerage” funds eligible — pretty good still !!
RH has a 1% bonus coming in May for taxable account deposits, paid out monthly over 2 years, which blows that ET promo out of the water https://newsroom.aboutrobinhood.com/the ... gold-card/
calwatch
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by calwatch »

nalor511 wrote: Wed Apr 03, 2024 3:35 pm RH has a 1% bonus coming in May for taxable account deposits, paid out monthly over 2 years, which blows that ET promo out of the water https://newsroom.aboutrobinhood.com/the ... gold-card/

Not necessarily - a 0.40%-0.625% bonus if you can hit the bottom of one of the $100k-$1M tiers for six months may beat 0.0416% dribbled out every month.
calwatch wrote: Sat Mar 23, 2024 1:47 am I'm doing the fund transfer and Moomoo is asking me to send statements from the linked bank and brokerage account, a selfie, a copy of my ID, address verification, and a "purpose of the transfer" (for a transfer IN), to an unsecured email address. They claim there is a secure share site but the link wasn't in the email and when I emailed them they never responded back, nor is there any notice or message within the app. It is probably 90% legitimate but definitely cementing that this is not a brokerage I want to be with long term.
I sent the info to the email, they responded no further issue, I just said "general investing" when they asked for purpose of the transfer and they were fine with it.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

calwatch wrote: Wed Apr 03, 2024 4:05 pm
nalor511 wrote: Wed Apr 03, 2024 3:35 pm RH has a 1% bonus coming in May for taxable account deposits, paid out monthly over 2 years, which blows that ET promo out of the water https://newsroom.aboutrobinhood.com/the ... gold-card/

Not necessarily - a 0.40%-0.625% bonus if you can hit the bottom of one of the $100k-$1M tiers for six months may beat 0.0416% dribbled out every month.
Sure, if you just so happen to have that math work right at the bottom of a tier, more power to you. The $1k/200k tier may be worth doing (0.5%), but eTrade has become very hard to work with, and I'm reluctant to deal with them again.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by SJR »

hmw wrote: Wed Apr 03, 2024 10:35 am
SJR wrote: Mon Apr 01, 2024 7:55 pm
Mike14 wrote: Sun Mar 31, 2024 11:45 pm
SJR wrote: Sun Mar 31, 2024 8:58 am I had trouble with Webull's reporting cost basis to TT following a transfer from their omnibus margin account. Luckily I had requested a copy of the cost basis from Webull via chat when I brought the securities in and they sent me a PDF or Excel of it which I saved.
How easy was it to get the cost basis export from Webull?
Did they actually have the cost basis on file before you asked the for the export, or did they only then realize that they didn't have it?
Presumably, your account started out as a APEX margin account when you transferred the assets in initially, and was later converted to omnibus margin?
They didn't understand what I was requesting but after some back and forth they finally understood and sent it to me. This was immediately following the transfer into Webull. My own account was apex and remainded as such. My wife's was omnibus. Mine transferred out flawlessly. Hers was missing cost basis on way out.
Can you share what happened to your wife's account cost basis? How was it resovled at the end? I am dealing with the same problem as your wife. Thanks
I submitted the cost basis PDF provided by webull to TT and they in turn sent it over to Apex.
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

HomeStretch wrote: Wed Apr 03, 2024 12:12 pm New MS E*TRADE bonus offer for existing customers for non-retirement accounts. Bonus tiers start at $125 (for $5,000) up to $6,000 (for $2 million). Offer expires 4/30/24.
https://us.etrade.com/promo/6000cfc-brokerage-040124?
I just got off a live chat with ET, after failing with the promo code, and they claim this promo is targeted, and that since I didn't receive the individual link I may not be eligible. They put in a request to enroll me "on best effort", but can't promise, so be aware. YMMV
Pam01
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Re: Opinions needed on WF Bonus offer situation

Post by Pam01 »

whodidntante wrote: Sun Mar 31, 2024 10:17 am
sc9182 wrote: Sun Mar 31, 2024 10:01 am
abracadabra11 wrote: Sun Mar 31, 2024 7:29 am I would forego the Wells bonus. It just wasn't worth the trouble IMO.
we had WF branch nearby. Beauty of WF bonus is that: it accepts IRA assets and/or brokerage assets. IIRC., you can do one bonus nearly a year (right after 12-months) - as this bonus been renewing ever so often. Both myself and spouse independently participated in this bonus. Guaranteed $2500 within 4-months is real cash-money to splurge. Double it up with spouse - now you can have double the fun !!
It was an excellent bonus despite the SNAFUs I reported. I would do it again.
How long did it take for the bonus to post once the 90 day holding period was met?
sc9182
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Re: Opinions needed on WF Bonus offer situation

Post by sc9182 »

Pam01 wrote: Wed Apr 03, 2024 8:03 pm
whodidntante wrote: Sun Mar 31, 2024 10:17 am
sc9182 wrote: Sun Mar 31, 2024 10:01 am
abracadabra11 wrote: Sun Mar 31, 2024 7:29 am I would forego the Wells bonus. It just wasn't worth the trouble IMO.
we had WF branch nearby. Beauty of WF bonus is that: it accepts IRA assets and/or brokerage assets. IIRC., you can do one bonus nearly a year (right after 12-months) - as this bonus been renewing ever so often. Both myself and spouse independently participated in this bonus. Guaranteed $2500 within 4-months is real cash-money to splurge. Double it up with spouse - now you can have double the fun !!
It was an excellent bonus despite the SNAFUs I reported. I would do it again.
How long did it take for the bonus to post once the 90 day holding period was met?
may be it wasn’t addressed to me - but allow me to share our experience. Bonus hit in about 10-15 days past 90 days after Premier-account opened (and enrolled with coupon) - about 60 days after we moved our assets-in into linked WellsTrade.

End-to-End is about 105-110 days - while our funds/equities only stayed-in for about 55-60 days.
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante »

nalor511 wrote: Wed Apr 03, 2024 3:35 pm
sc9182 wrote: Wed Apr 03, 2024 2:53 pm
HomeStretch wrote: Wed Apr 03, 2024 12:12 pm New MS E*TRADE bonus offer for existing customers for non-retirement accounts. Bonus tiers start at $125 (for $5,000) up to $6,000 (for $2 million). Offer expires 4/30/24.
https://us.etrade.com/promo/6000cfc-brokerage-040124?
thanks - decent bonus tiers;
They require 6-month holding period after transfer-in to earn/keep the bonus.

Unfortunately no IRAs - only “brokerage” funds eligible — pretty good still !!
RH has a 1% bonus coming in May for taxable account deposits, paid out monthly over 2 years, which blows that ET promo out of the water https://newsroom.aboutrobinhood.com/the ... gold-card/
On ACATS?

Well, here we go again. :P
hmw
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hmw »

nalor511 wrote: Wed Apr 03, 2024 6:42 pm
HomeStretch wrote: Wed Apr 03, 2024 12:12 pm New MS E*TRADE bonus offer for existing customers for non-retirement accounts. Bonus tiers start at $125 (for $5,000) up to $6,000 (for $2 million). Offer expires 4/30/24.
https://us.etrade.com/promo/6000cfc-brokerage-040124?
I just got off a live chat with ET, after failing with the promo code, and they claim this promo is targeted, and that since I didn't receive the individual link I may not be eligible. They put in a request to enroll me "on best effort", but can't promise, so be aware. YMMV
I have a dormant empty account with Etrade. I was able to sign up for the promo.
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whodidntante
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Re: Opinions needed on WF Bonus offer situation

Post by whodidntante »

Pam01 wrote: Wed Apr 03, 2024 8:03 pm
whodidntante wrote: Sun Mar 31, 2024 10:17 am
sc9182 wrote: Sun Mar 31, 2024 10:01 am
abracadabra11 wrote: Sun Mar 31, 2024 7:29 am I would forego the Wells bonus. It just wasn't worth the trouble IMO.
we had WF branch nearby. Beauty of WF bonus is that: it accepts IRA assets and/or brokerage assets. IIRC., you can do one bonus nearly a year (right after 12-months) - as this bonus been renewing ever so often. Both myself and spouse independently participated in this bonus. Guaranteed $2500 within 4-months is real cash-money to splurge. Double it up with spouse - now you can have double the fun !!
It was an excellent bonus despite the SNAFUs I reported. I would do it again.
How long did it take for the bonus to post once the 90 day holding period was met?
Account opened Dec 6
Bonus posted Mar 20
Makaveli
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Makaveli »

whodidntante wrote: Wed Apr 03, 2024 8:25 pm
nalor511 wrote: Wed Apr 03, 2024 3:35 pm
sc9182 wrote: Wed Apr 03, 2024 2:53 pm
HomeStretch wrote: Wed Apr 03, 2024 12:12 pm New MS E*TRADE bonus offer for existing customers for non-retirement accounts. Bonus tiers start at $125 (for $5,000) up to $6,000 (for $2 million). Offer expires 4/30/24.
https://us.etrade.com/promo/6000cfc-brokerage-040124?
thanks - decent bonus tiers;
They require 6-month holding period after transfer-in to earn/keep the bonus.

Unfortunately no IRAs - only “brokerage” funds eligible — pretty good still !!
RH has a 1% bonus coming in May for taxable account deposits, paid out monthly over 2 years, which blows that ET promo out of the water https://newsroom.aboutrobinhood.com/the ... gold-card/
On ACATS?

Well, here we go again. :P
:beer
alexbogle
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by alexbogle »

Did the tastytrade bonus $2000 for $100k.

I enabled DRIP at Tasty

I exported my cost basis, including reinvestments from Merrill Edge.

I ACAT VOO worth a little over $100k (whole shares only) from Merrill Edge.

Merrill Edge sent me a courtesy notice which I appreciated. Helped me feel like I could prevent the ACAT if it was fraud.

A few days later the shares transferred to TastyTrade.

Within a day or two I saw the $2000 in my TastyTrade account, though I didn't get any notification about it.

I learned I could create an account at apex clearing, so I did so. Within 2 days I saw my cost basis accurately updated in Apex Clearing.

The transfer happened during dividend delivery for VOO. They appeared in my TastyTrade account as DRIP.

I then purchased ETFs with my bonus at Tasty. I left $10 uninvested. Maybe I will use those to gamble at Tasty.
"Learn every day, but especially from the experiences of others. It’s cheaper!” -- Jack Bogle
hotpancakes
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by hotpancakes »

Has anyone had success in having Merrill Edge match some of the juicier transfer bonus offers?
Shaneman
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Shaneman »

RH has a 1% bonus coming in May for taxable account deposits, paid out monthly over 2 years, which blows that ET promo out of the water https://newsroom.aboutrobinhood.com/the ... gold-card/
I reached out to Robinhood today via chat and the "1% bonus coming in May for taxable account deposits" is for CASH deposits. You will not get the 1% bonus payable over 24 month period if you transfer equities. You will ONLY receive 1% on CASH that is deposited to your RH taxable account.

Thus I think the Etrade transfer bonus offer ($4500 for $1M) with a hold of only 6 months seems to be the best bonus transfer offer today unless someone else knows of a better offer when transferring $1M.
tj
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

Shaneman wrote: Thu Apr 04, 2024 1:25 pm
RH has a 1% bonus coming in May for taxable account deposits, paid out monthly over 2 years, which blows that ET promo out of the water https://newsroom.aboutrobinhood.com/the ... gold-card/
I reached out to Robinhood today via chat and the "1% bonus coming in May for taxable account deposits" is for CASH deposits. You will not get the 1% bonus payable over 24 month period if you transfer equities. You will ONLY receive 1% on CASH that is deposited to your RH taxable account.

Thus I think the Etrade transfer bonus offer ($4500 for $1M) with a hold of only 6 months seems to be the best bonus transfer offer today unless someone else knows of a better offer when transferring $1M.
Tastytrade? M1? Public?
Shaneman
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Shaneman »

tj wrote: Thu Apr 04, 2024 1:48 pm Tastytrade? M1? Public?
Tasty is only for new accounts and I already have a Tastytrade acct. Their bonus for $1M is $5K with a 12 month hold

https://support.tastytrade.com/support/ ... 3000678965

M1 their bonus EXPIRED but their bonus for $1M was $4K with a 12 month hold

https://m1.com/transfer/promo-20k/

Public bonus until April 30, 2024 is for $1M was $4K with a 12 month hold
https://help.public.com/en/articles/649 ... er-account

Etrade bonus until April 30, 2024 is for $1M was $4500 with a 6 month hold

https://us.etrade.com/promo/6000cfc-brokerage-040124

Still seems to me that Etrade offers the best bonus unless someone can share a link for a better bonus.
JReality
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by JReality »

alexbogle wrote: Thu Apr 04, 2024 6:45 am Did the tastytrade bonus $2000 for $100k.

I enabled DRIP at Tasty

I exported my cost basis, including reinvestments from Merrill Edge.

I ACAT VOO worth a little over $100k (whole shares only) from Merrill Edge.

Merrill Edge sent me a courtesy notice which I appreciated. Helped me feel like I could prevent the ACAT if it was fraud.

A few days later the shares transferred to TastyTrade.

Within a day or two I saw the $2000 in my TastyTrade account, though I didn't get any notification about it.
The funds arrived in my new TT account two days ago, but the bonus hasn't yet arrived. If I don't see it by next week I'll call them.

UPDATE: I see the terms say the bonus will be credited within 2 weeks of funding:
____________________________________________________________________________________
AWARD DETAILS

The Cash Bonus (“Cash Bonus”) will be credited to a Qualified Customer’s Qualified Account within two (2) weeks from date of the initial deposit of at least $2,000 USD (the “Funds”). The Funds must be deposited as a single transaction prior to the end of the Promotional Period.
_____________________________________________________________________________________
Last edited by JReality on Fri Apr 05, 2024 1:39 pm, edited 1 time in total.
alexbogle
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by alexbogle »

Shaneman wrote: Thu Apr 04, 2024 2:13 pm
tj wrote: Thu Apr 04, 2024 1:48 pm Tastytrade? M1? Public?
Tasty is only for new accounts and I already have a Tastytrade acct. Their bonus for $1M is $5K with a 12 month hold

https://support.tastytrade.com/support/ ... 3000678965

M1 their bonus EXPIRED but their bonus for $1M was $4K with a 12 month hold

https://m1.com/transfer/promo-20k/

Public bonus until April 30, 2024 is for $1M was $4K with a 12 month hold
https://help.public.com/en/articles/649 ... er-account

Etrade bonus until April 30, 2024 is for $1M was $4500 with a 6 month hold

https://us.etrade.com/promo/6000cfc-brokerage-040124

Still seems to me that Etrade offers the best bonus unless someone can share a link for a better bonus.
1% coming from Robinhood in May.

My reading of the terms are:
  • $10K bonus on $1M transfer
  • -$100: you have to pay for gold for 2 years (2 x $50 /year)
  • 2 year hold
  • you also get access to their 3% card with gold
Yes, the e-trade offer is better due to the timeframe, but I doubt robinhood can sustain these bonus levels so I would consider taking it while available. I'm tempted myself to move $500K over.
"Learn every day, but especially from the experiences of others. It’s cheaper!” -- Jack Bogle
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

nalor511 wrote: Wed Apr 03, 2024 6:42 pm
HomeStretch wrote: Wed Apr 03, 2024 12:12 pm New MS E*TRADE bonus offer for existing customers for non-retirement accounts. Bonus tiers start at $125 (for $5,000) up to $6,000 (for $2 million). Offer expires 4/30/24.
https://us.etrade.com/promo/6000cfc-brokerage-040124?
I just got off a live chat with ET, after failing with the promo code, and they claim this promo is targeted, and that since I didn't receive the individual link I may not be eligible. They put in a request to enroll me "on best effort", but can't promise, so be aware. YMMV
I had to bite the bullet and call. All done. Hopefully RH will still have the 1% promo when my 6mo hold at ET is up.
bongo
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by bongo »

alexbogle wrote: Thu Apr 04, 2024 3:30 pm 1% coming from Robinhood in May.

My reading of the terms are:
  • $10K bonus on $1M transfer
  • -$100: you have to pay for gold for 2 years (2 x $50 /year)
  • 2 year hold
  • you also get access to their 3% card with gold
Yes, the e-trade offer is better due to the timeframe, but I doubt robinhood can sustain these bonus levels so I would consider taking it while available. I'm tempted myself to move $500K over.
Liquidating 1m to cash might trigger a lot of taxes, plus the risk of being out of the market for several days until you can deposit and buy back in might be much more than 1%. Not worth it imo.
Leesbro63
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leesbro63 »

nalor511 wrote: Thu Apr 04, 2024 3:48 pm
nalor511 wrote: Wed Apr 03, 2024 6:42 pm
HomeStretch wrote: Wed Apr 03, 2024 12:12 pm New MS E*TRADE bonus offer for existing customers for non-retirement accounts. Bonus tiers start at $125 (for $5,000) up to $6,000 (for $2 million). Offer expires 4/30/24.
https://us.etrade.com/promo/6000cfc-brokerage-040124?
I just got off a live chat with ET, after failing with the promo code, and they claim this promo is targeted, and that since I didn't receive the individual link I may not be eligible. They put in a request to enroll me "on best effort", but can't promise, so be aware. YMMV
I had to bite the bullet and call. All done. Hopefully RH will still have the 1% promo when my 6mo hold at ET is up.
I jumped on this after seeing this here. Same thing...I "chatted" and they couldn't help me. Then I called and they said it was "targeted". But before giving up, I clicked the link which sent me to a "Log In" (to my account) page. Did that and, VOILA'! Got a "Congratulations, You Are Enrolled In The Promotion" page and email! I called back and someone else confirmed that I'm enrolled and gave me an enrollment confirmation number, so I started the asset transfer in. I can't imagine that they'll not honor the offer.

My guess is that it IS a targeted offer, but their system isn't smart enough to know that you got the offer by non-targeted means. Put another way, I'll bet the targeting is just who gets the Email. But that the link in the Email takes you to a page that doesn't know how you got it and any customer will qualify once you get in.
Leesbro63
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leesbro63 »

Shaneman wrote: Thu Apr 04, 2024 2:13 pm Etrade bonus until April 30, 2024 is for $1M was $4500 with a 6 month hold

https://us.etrade.com/promo/6000cfc-brokerage-040124

Still seems to me that Etrade offers the best bonus unless someone can share a link for a better bonus.
I agree. See my comment, just above, for how to get the bonus even if you are not a "targeted" customer.
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whodidntante
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by whodidntante »

Shaneman wrote: Thu Apr 04, 2024 1:25 pm
RH has a 1% bonus coming in May for taxable account deposits, paid out monthly over 2 years, which blows that ET promo out of the water https://newsroom.aboutrobinhood.com/the ... gold-card/
I reached out to Robinhood today via chat and the "1% bonus coming in May for taxable account deposits" is for CASH deposits. You will not get the 1% bonus payable over 24 month period if you transfer equities. You will ONLY receive 1% on CASH that is deposited to your RH taxable account.

Thus I think the Etrade transfer bonus offer ($4500 for $1M) with a hold of only 6 months seems to be the best bonus transfer offer today unless someone else knows of a better offer when transferring $1M.
😒

That was what I took from an earlier comment on the matter. I'll do the deal either way, but the bonus will be much larger if it's for ACATS.
tACKJAYE
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tACKJAYE »

I'd call it YMMV, since the offer page seems to be explicit about it. You MUST be original recipient of this offer to enroll. You can see this under OTHER LIMITATIONS.
Leesbro63 wrote: Thu Apr 04, 2024 4:01 pm
nalor511 wrote: Thu Apr 04, 2024 3:48 pm
nalor511 wrote: Wed Apr 03, 2024 6:42 pm
HomeStretch wrote: Wed Apr 03, 2024 12:12 pm New MS E*TRADE bonus offer for existing customers for non-retirement accounts. Bonus tiers start at $125 (for $5,000) up to $6,000 (for $2 million). Offer expires 4/30/24.
https://us.etrade.com/promo/6000cfc-brokerage-040124?
I just got off a live chat with ET, after failing with the promo code, and they claim this promo is targeted, and that since I didn't receive the individual link I may not be eligible. They put in a request to enroll me "on best effort", but can't promise, so be aware. YMMV
I had to bite the bullet and call. All done. Hopefully RH will still have the 1% promo when my 6mo hold at ET is up.
I jumped on this after seeing this here. Same thing...I "chatted" and they couldn't help me. Then I called and they said it was "targeted". But before giving up, I clicked the link which sent me to a "Log In" (to my account) page. Did that and, VOILA'! Got a "Congratulations, You Are Enrolled In The Promotion" page and email! I called back and someone else confirmed that I'm enrolled and gave me an enrollment confirmation number, so I started the asset transfer in. I can't imagine that they'll not honor the offer.

My guess is that it IS a targeted offer, but their system isn't smart enough to know that you got the offer by non-targeted means. Put another way, I'll bet the targeting is just who gets the Email. But that the link in the Email takes you to a page that doesn't know how you got it and any customer will qualify once you get in.
nalor511
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by nalor511 »

tACKJAYE wrote: Thu Apr 04, 2024 5:21 pm I'd call it YMMV, since the offer page seems to be explicit about it. You MUST be original recipient of this offer to enroll. You can see this under OTHER LIMITATIONS.
I see no such limitation, nor did the chat rep, at the offer we're all talking about. But at any rate, Leesbro63 and myself were both able to enroll, after a bit of futzing. I had to call to get a hold manually released, and then the link worked for me.
alexbogle
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by alexbogle »

bongo wrote: Thu Apr 04, 2024 3:56 pm
alexbogle wrote: Thu Apr 04, 2024 3:30 pm 1% coming from Robinhood in May.

My reading of the terms are:
  • $10K bonus on $1M transfer
  • -$100: you have to pay for gold for 2 years (2 x $50 /year)
  • 2 year hold
  • you also get access to their 3% card with gold
Yes, the e-trade offer is better due to the timeframe, but I doubt robinhood can sustain these bonus levels so I would consider taking it while available. I'm tempted myself to move $500K over.
Liquidating 1m to cash might trigger a lot of taxes, plus the risk of being out of the market for several days until you can deposit and buy back in might be much more than 1%. Not worth it imo.
ah, I did not realize ACAT didn't count!
"Learn every day, but especially from the experiences of others. It’s cheaper!” -- Jack Bogle
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by placeholder »

alexbogle wrote: Thu Apr 04, 2024 6:45 am
Within a day or two I saw the $2000 in my TastyTrade account, though I didn't get any notification about it.

I learned I could create an account at apex clearing, so I did so. Within 2 days I saw my cost basis accurately updated in Apex Clearing.
You can see your basis on the tasty web site as well by going to My Accounts|Portfolio.
sgboggle
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sgboggle »

For Webull omnibus accounts at Apex, if Apex fails, is the SIPC $500k limit (from Apex's SIPC coverage) spread across all of Webull's customers (since Webull just has one big account at Apex), rather than each Webull customer having a $500k limit?

I see that another brokerage (Revolut) seems to have that interpretation (but not sure if they have the same setup as Webull): https://help.revolut.com/en-LT/help/wea ... ing-entity

Webull also has SIPC coverage, but does that only apply if Webull fails, not Apex? Though, if Apex fails, maybe that would then cause Webull to fail; would each Webull customer then end up getting $500k? Is there a scenario where Apex fails and Webull doesn't?
Last edited by sgboggle on Fri Apr 05, 2024 11:57 am, edited 1 time in total.
Leesbro63
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leesbro63 »

nalor511 wrote: Thu Apr 04, 2024 5:46 pm
tACKJAYE wrote: Thu Apr 04, 2024 5:21 pm I'd call it YMMV, since the offer page seems to be explicit about it. You MUST be original recipient of this offer to enroll. You can see this under OTHER LIMITATIONS.
I see no such limitation, nor did the chat rep, at the offer we're all talking about. But at any rate, Leesbro63 and myself were both able to enroll, after a bit of futzing. I had to call to get a hold manually released, and then the link worked for me.
Agreed. I see no such limitation. And as I said in a prior comment, I don’t think the right hand (accepting customer enrollment into the offer) knows what the left hand (deciding who gets the targeted email offer) is doing. Or even how to verify that an enrollee actually was chosen for the email.
tACKJAYE
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tACKJAYE »

It's under OFFER LIMITATIONS on the offer page, if you expand the Offer Details section.
Leesbro63 wrote: Fri Apr 05, 2024 4:39 am
nalor511 wrote: Thu Apr 04, 2024 5:46 pm
tACKJAYE wrote: Thu Apr 04, 2024 5:21 pm I'd call it YMMV, since the offer page seems to be explicit about it. You MUST be original recipient of this offer to enroll. You can see this under OTHER LIMITATIONS.
I see no such limitation, nor did the chat rep, at the offer we're all talking about. But at any rate, Leesbro63 and myself were both able to enroll, after a bit of futzing. I had to call to get a hold manually released, and then the link worked for me.
Agreed. I see no such limitation. And as I said in a prior comment, I don’t think the right hand (accepting customer enrollment into the offer) knows what the left hand (deciding who gets the targeted email offer) is doing. Or even how to verify that an enrollee actually was chosen for the email.
dszklarek
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by dszklarek »

Shaneman wrote: Thu Apr 04, 2024 1:25 pm
RH has a 1% bonus coming in May for taxable account deposits, paid out monthly over 2 years, which blows that ET promo out of the water https://newsroom.aboutrobinhood.com/the ... gold-card/
I reached out to Robinhood today via chat and the "1% bonus coming in May for taxable account deposits" is for CASH deposits. You will not get the 1% bonus payable over 24 month period if you transfer equities. You will ONLY receive 1% on CASH that is deposited to your RH taxable account.

Thus I think the Etrade transfer bonus offer ($4500 for $1M) with a hold of only 6 months seems to be the best bonus transfer offer today unless someone else knows of a better offer when transferring $1M.
Sorry if already answered. If I already have an account funded at RH without recieving any bonus, would I be able to get the bonus by moving my money out now and back in when it begins?
tj
Posts: 9518
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by tj »

dszklarek wrote: Fri Apr 05, 2024 8:28 pm
Shaneman wrote: Thu Apr 04, 2024 1:25 pm
RH has a 1% bonus coming in May for taxable account deposits, paid out monthly over 2 years, which blows that ET promo out of the water https://newsroom.aboutrobinhood.com/the ... gold-card/
I reached out to Robinhood today via chat and the "1% bonus coming in May for taxable account deposits" is for CASH deposits. You will not get the 1% bonus payable over 24 month period if you transfer equities. You will ONLY receive 1% on CASH that is deposited to your RH taxable account.

Thus I think the Etrade transfer bonus offer ($4500 for $1M) with a hold of only 6 months seems to be the best bonus transfer offer today unless someone else knows of a better offer when transferring $1M.
Sorry if already answered. If I already have an account funded at RH without recieving any bonus, would I be able to get the bonus by moving my money out now and back in when it begins?
Only one way to find out.
Leesbro63
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leesbro63 »

tACKJAYE wrote: Fri Apr 05, 2024 8:52 am It's under OFFER LIMITATIONS on the offer page, if you expand the Offer Details section.
Leesbro63 wrote: Fri Apr 05, 2024 4:39 am
nalor511 wrote: Thu Apr 04, 2024 5:46 pm
tACKJAYE wrote: Thu Apr 04, 2024 5:21 pm I'd call it YMMV, since the offer page seems to be explicit about it. You MUST be original recipient of this offer to enroll. You can see this under OTHER LIMITATIONS.
I see no such limitation, nor did the chat rep, at the offer we're all talking about. But at any rate, Leesbro63 and myself were both able to enroll, after a bit of futzing. I had to call to get a hold manually released, and then the link worked for me.
Agreed. I see no such limitation. And as I said in a prior comment, I don’t think the right hand (accepting customer enrollment into the offer) knows what the left hand (deciding who gets the targeted email offer) is doing. Or even how to verify that an enrollee actually was chosen for the email.

I went back and looked and looked. All I can find this this, which has no such limitation. It says "existing Etrade customers", not "targeted Etrade customers":

"OFFER LIMITATIONS
Offer valid for existing E*TRADE Brokerage customers with an eligible nonretirement
account and funded within 60 days of enrollment day with
$5,000 or more.
The following account types are excluded from this offer: any business
(incorporated or unincorporated) accounts, retirement accounts, advisory
accounts, E*TRADE Futures accounts, Morgan Stanley AAA brokerage
accounts, Morgan Stanley Private Bank, National Association accounts
("Excluded Accounts"). This offer excludes non-U.S. residents, and
residents of any jurisdiction where this offer is not valid. You must be the
original recipient of this offer to enroll. Customers may only be enrolled in
one offer at a time. This offer cannot be combined with any other offers.
Each customer is limited to a maximum of two new account offers."
sycamore
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

Leesbro63 wrote: Sat Apr 06, 2024 9:22 am
tACKJAYE wrote: Fri Apr 05, 2024 8:52 am It's under OFFER LIMITATIONS on the offer page, if you expand the Offer Details section.
Leesbro63 wrote: Fri Apr 05, 2024 4:39 am
nalor511 wrote: Thu Apr 04, 2024 5:46 pm
tACKJAYE wrote: Thu Apr 04, 2024 5:21 pm I'd call it YMMV, since the offer page seems to be explicit about it. You MUST be original recipient of this offer to enroll. You can see this under OTHER LIMITATIONS.
I see no such limitation, nor did the chat rep, at the offer we're all talking about. But at any rate, Leesbro63 and myself were both able to enroll, after a bit of futzing. I had to call to get a hold manually released, and then the link worked for me.
Agreed. I see no such limitation. And as I said in a prior comment, I don’t think the right hand (accepting customer enrollment into the offer) knows what the left hand (deciding who gets the targeted email offer) is doing. Or even how to verify that an enrollee actually was chosen for the email.

I went back and looked and looked. All I can find this this, which has no such limitation. It says "existing Etrade customers", not "targeted Etrade customers":

"OFFER LIMITATIONS
Offer valid for existing E*TRADE Brokerage customers with an eligible nonretirement
account and funded within 60 days of enrollment day with
$5,000 or more.
The following account types are excluded from this offer: any business
(incorporated or unincorporated) accounts, retirement accounts, advisory
accounts, E*TRADE Futures accounts, Morgan Stanley AAA brokerage
accounts, Morgan Stanley Private Bank, National Association accounts
("Excluded Accounts"). This offer excludes non-U.S. residents, and
residents of any jurisdiction where this offer is not valid. You must be the
original recipient of this offer to enroll. Customers may only be enrolled in
one offer at a time. This offer cannot be combined with any other offers.
Each customer is limited to a maximum of two new account offers."
tACKJAYE is referring to the "You must be the
original recipient of this offer to enroll." part.

It's not clear to me that you saw that part.
Leesbro63
Posts: 10783
Joined: Mon Nov 08, 2010 3:36 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leesbro63 »

sycamore wrote: Sat Apr 06, 2024 10:39 am
Leesbro63 wrote: Sat Apr 06, 2024 9:22 am
tACKJAYE wrote: Fri Apr 05, 2024 8:52 am It's under OFFER LIMITATIONS on the offer page, if you expand the Offer Details section.
Leesbro63 wrote: Fri Apr 05, 2024 4:39 am
nalor511 wrote: Thu Apr 04, 2024 5:46 pm

I see no such limitation, nor did the chat rep, at the offer we're all talking about. But at any rate, Leesbro63 and myself were both able to enroll, after a bit of futzing. I had to call to get a hold manually released, and then the link worked for me.
Agreed. I see no such limitation. And as I said in a prior comment, I don’t think the right hand (accepting customer enrollment into the offer) knows what the left hand (deciding who gets the targeted email offer) is doing. Or even how to verify that an enrollee actually was chosen for the email.

I went back and looked and looked. All I can find this this, which has no such limitation. It says "existing Etrade customers", not "targeted Etrade customers":

"OFFER LIMITATIONS
Offer valid for existing E*TRADE Brokerage customers with an eligible nonretirement
account and funded within 60 days of enrollment day with
$5,000 or more.
The following account types are excluded from this offer: any business
(incorporated or unincorporated) accounts, retirement accounts, advisory
accounts, E*TRADE Futures accounts, Morgan Stanley AAA brokerage
accounts, Morgan Stanley Private Bank, National Association accounts
("Excluded Accounts"). This offer excludes non-U.S. residents, and
residents of any jurisdiction where this offer is not valid. You must be the
original recipient of this offer to enroll. Customers may only be enrolled in
one offer at a time. This offer cannot be combined with any other offers.
Each customer is limited to a maximum of two new account offers."
tACKJAYE is referring to the "You must be the
original recipient of this offer to enroll." part.

It's not clear to me that you saw that part.
I still don't see that anywhere.
sycamore
Posts: 6442
Joined: Tue May 08, 2018 12:06 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by sycamore »

Leesbro63 wrote: Sat Apr 06, 2024 11:46 am
sycamore wrote: Sat Apr 06, 2024 10:39 am
Leesbro63 wrote: Sat Apr 06, 2024 9:22 am
tACKJAYE wrote: Fri Apr 05, 2024 8:52 am It's under OFFER LIMITATIONS on the offer page, if you expand the Offer Details section.
Leesbro63 wrote: Fri Apr 05, 2024 4:39 am

Agreed. I see no such limitation. And as I said in a prior comment, I don’t think the right hand (accepting customer enrollment into the offer) knows what the left hand (deciding who gets the targeted email offer) is doing. Or even how to verify that an enrollee actually was chosen for the email.

I went back and looked and looked. All I can find this this, which has no such limitation. It says "existing Etrade customers", not "targeted Etrade customers":

"OFFER LIMITATIONS
Offer valid for existing E*TRADE Brokerage customers with an eligible nonretirement
account and funded within 60 days of enrollment day with
$5,000 or more.
The following account types are excluded from this offer: any business
(incorporated or unincorporated) accounts, retirement accounts, advisory
accounts, E*TRADE Futures accounts, Morgan Stanley AAA brokerage
accounts, Morgan Stanley Private Bank, National Association accounts
("Excluded Accounts"). This offer excludes non-U.S. residents, and
residents of any jurisdiction where this offer is not valid. You must be the
original recipient of this offer to enroll.
Customers may only be enrolled in
one offer at a time. This offer cannot be combined with any other offers.
Each customer is limited to a maximum of two new account offers."
tACKJAYE is referring to the "You must be the
original recipient of this offer to enroll." part.

It's not clear to me that you saw that part.
I still don't see that anywhere.
I've highlighted it above.

Maybe time for a visit to the eye doctor? :)
Leesbro63
Posts: 10783
Joined: Mon Nov 08, 2010 3:36 pm

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by Leesbro63 »

sycamore wrote: Sat Apr 06, 2024 11:48 am
Leesbro63 wrote: Sat Apr 06, 2024 11:46 am
sycamore wrote: Sat Apr 06, 2024 10:39 am
Leesbro63 wrote: Sat Apr 06, 2024 9:22 am
tACKJAYE wrote: Fri Apr 05, 2024 8:52 am It's under OFFER LIMITATIONS on the offer page, if you expand the Offer Details section.


I went back and looked and looked. All I can find this this, which has no such limitation. It says "existing Etrade customers", not "targeted Etrade customers":

"OFFER LIMITATIONS
Offer valid for existing E*TRADE Brokerage customers with an eligible nonretirement
account and funded within 60 days of enrollment day with
$5,000 or more.
The following account types are excluded from this offer: any business
(incorporated or unincorporated) accounts, retirement accounts, advisory
accounts, E*TRADE Futures accounts, Morgan Stanley AAA brokerage
accounts, Morgan Stanley Private Bank, National Association accounts
("Excluded Accounts"). This offer excludes non-U.S. residents, and
residents of any jurisdiction where this offer is not valid. You must be the
original recipient of this offer to enroll.
Customers may only be enrolled in
one offer at a time. This offer cannot be combined with any other offers.
Each customer is limited to a maximum of two new account offers."
tACKJAYE is referring to the "You must be the
original recipient of this offer to enroll." part.

It's not clear to me that you saw that part.
I still don't see that anywhere.
I've highlighted it above.

Maybe time for a visit to the eye doctor? :)
OK! Got me! Yes, I probably do need new reading glasses, at the very least!

I enrolled and got a confirming email. So I'm going to assume that anything that happened before that is superseded by the confirming email. If, by some chance, Etrade eventually refuses to payout the bonus, I'm really not further behind...just some paperwork and moving assets around. My guess is that they won't even further question this, but if they do, they'll still honor it because they sent the Email stating that I'm in. And if they STILL don't, again, I lose nothing. Heads I win, tails I do not lose.
lostcoast2023
Posts: 77
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Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Post by lostcoast2023 »

I received my tastytrade bonus almost exactly one year ago, 4/5/23. Am I free to withdraw my initial deposit now, or do I need to wait until the end of calendar month to satisfy the 12 Month requirement?
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