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Today, Robinhood Gold subscribers earn a 3% match on all eligible annual IRA contributions. For a limited time only, Robinhood Gold subscribers will also earn a 2% match on IRA transfers and 401(k) rollovers into your Robinhood Retirement account starting January 8, 2025 through April 30, 2025, with no limit on the amount of match you can earn.
Note
You must hold the funds in your Robinhood IRA for at least 5 years and be a Robinhood Gold subscriber for 1 year after the first Gold match.
I don't have an RH account, right now, And I haven't done a 2025 contribution yet. So if I understand the steps correctly, I should
1) Open an IRA sign up for Gold
2) Do a transfer from my IRA account at an outside firm -> Robin Hood
3) Also, do a contribution to the IRA account from a linked bank account outside RH
4) Keep RH Gold for a year
5) Wai 4 more years
Personally, I don't like the idea of tying down my funds at RH for 5 years. I hope to consolidate my accounts at 2-3 brokers at the most in the next few years and I don't think RH is a good choice to be one of those brokers. OTOH, 2%/5 = .4% per year sounds pretty good
I don't have an RH account, right now, And I haven't done a 2025 contribution yet. So if I understand the steps correctly, I should
1) Open an IRA sign up for Gold
2) Do a transfer from my IRA account at an outside firm -> Robin Hood
3) Also, do a contribution to the IRA account from a linked bank account outside RH
4) Keep RH Gold for a year
5) Wai 4 more years
Personally, I don't like the idea of tying down my funds at RH for 5 years. I hope to consolidate my accounts at 2-3 brokers at the most in the next few years and I don't think RH is a good choice to be one of those brokers. OTOH, 2%/5 = .4% per year sounds pretty good
I didn't like it either. Their bonus offers changed my mind. The other upside is that I don't have to chase bonuses for 2 years (taxable) and 5 years (retirement)
nalor511 wrote: ↑Wed Jan 08, 2025 5:16 pm
The RH "transfer" screen will show you any potential clawback before you hit the final confirm, if you do it from the RH UI.
Can you clarify where you see this exactly (or post a screenshot)? If you go through the steps to start a wire transfer out of a Robinhood taxable account from within the app, it is showing you a clawback value on the final screen before pressing submit?
nalor511 wrote: ↑Wed Jan 08, 2025 5:16 pm
The RH "transfer" screen will show you any potential clawback before you hit the final confirm, if you do it from the RH UI.
Can you clarify where you see this exactly (or post a screenshot)? If you go through the steps to start a wire transfer out of a Robinhood taxable account from within the app, it is showing you a clawback value on the final screen before pressing submit?
Thanks!
It is a little sneaky. It gets to a confirm button with the amount etc, then you press confirm, then it says "you will lose X of your bonus, are you sure?" With another confirm button.
If there is no clawback at risk, the first confirm button submits the transfer, and if there is a clawback then it's the second confirm button (or you can cancel). If you submit your transfer and change your mind you can cancel from the history page
Is there a tested way to do a RothIRA backdoor with RH to get the extra 3%?
Contribute. Get bonus. Convert. Done. Can be done by yourself as long as you don't trade out of cash.
Chat them if you need to. I haven't converted, but I have chatted and confirmed to my liking. With the 2% bonus I was "late" but confirmed beforehand they would honor the bonus, and it took 3 weeks but they did bonus me, so you can trust they'll do what they say.
Just to make sure: there's no way to get both the 2% transfer bonus and the 3% match for the $7k IRA contribution for 2025, correct? It's one or the other(?)
If going for the 3% match - does RH support conversion from (RH) tradIRA to (RH) rothIRA?
RH conversion from trad to Roth is easy and takes 10seconds. Has to be settled cash in trad cannot convert shares.
UncleLeo wrote: ↑Thu Jan 09, 2025 11:02 pm
Just to make sure: there's no way to get both the 2% transfer bonus and the 3% match for the $7k IRA contribution for 2025, correct? It's one or the other(?)
If going for the 3% match - does RH support conversion from (RH) tradIRA to (RH) rothIRA?
Contribute. Get bonus. Convert. Done. Can be done by yourself as long as you don't trade out of cash.
Chat them if you need to. I haven't converted, but I have chatted and confirmed to my liking. With the 2% bonus I was "late" but confirmed beforehand they would honor the bonus, and it took 3 weeks but they did bonus me, so you can trust they'll do what they say.
Just to make sure: there's no way to get both the 2% transfer bonus and the 3% match for the $7k IRA contribution for 2025, correct? It's one or the other(?)
If going for the 3% match - does RH support conversion from (RH) tradIRA to (RH) rothIRA?
No moreso than you can have your cake and eat it too. It's either a transfer or a contribution, not both.
Contribute. Get bonus. Convert. Done. Can be done by yourself as long as you don't trade out of cash.
Chat them if you need to. I haven't converted, but I have chatted and confirmed to my liking. With the 2% bonus I was "late" but confirmed beforehand they would honor the bonus, and it took 3 weeks but they did bonus me, so you can trust they'll do what they say.
Just to make sure: there's no way to get both the 2% transfer bonus and the 3% match for the $7k IRA contribution for 2025, correct? It's one or the other(?)
If going for the 3% match - does RH support conversion from (RH) tradIRA to (RH) rothIRA?
Sure, you can transfer an account and then make a new contribution in the new account. You're not going to receive both promos for the same assets, not sure how would manipulate to even attempt that
Personally, I don't like the idea of tying down my funds at RH for 5 years. I hope to consolidate my accounts at 2-3 brokers at the most in the next few years and I don't think RH is a good choice to be one of those brokers. OTOH, 2%/5 = .4% per year sounds pretty good
I didn't like it either. Their bonus offers changed my mind. The other upside is that I don't have to chase bonuses for 2 years (taxable) and 5 years (retirement)
Did you go beyond the SIPC limit (per account)?
I'm not entirely comfortable going beyond that limit at RH for 5 years, even though it is a public brokerage, with revenue equivalent to Interactive Brokers now.
About the Robin Hood Bonus -- something just occurred to me.
If you transfer (say) $1M, you get $20K. If you need to withdraw after a year, I assume $20K is taken out. But you still get any earnings on the 20K. Maybe $900 or so if you put it in a safe investment. Potentially more or less depending on how you invest it.
So, you can get a little return even if you have to pull out early.
SlowMovingInvestor wrote: ↑Fri Jan 10, 2025 10:13 am
About the Robin Hood Bonus -- something just occurred to me.
If you transfer (say) $1M, you get $20K. If you need to withdraw after a year, I assume $20K is taken out. But you still get any earnings on the 20K. Maybe $900 or so if you put it in a safe investment. Potentially more or less depending on how you invest it.
So, you can get a little return even if you have to pull out early.
SlowMovingInvestor wrote: ↑Fri Jan 10, 2025 10:13 am
About the Robin Hood Bonus -- something just occurred to me.
If you transfer (say) $1M, you get $20K. If you need to withdraw after a year, I assume $20K is taken out. But you still get any earnings on the 20K. Maybe $900 or so if you put it in a safe investment. Potentially more or less depending on how you invest it.
So, you can get a little return even if you have to pull out early.
That could bite the other way, too.
Yes, but a risk free return of around $900 isn't terrible as a consolation prize. I guess it's like a margin loan with no interest.
I didn't like it either. Their bonus offers changed my mind. The other upside is that I don't have to chase bonuses for 2 years (taxable) and 5 years (retirement)
Did you go beyond the SIPC limit (per account)?
I'm not entirely comfortable going beyond that limit at RH for 5 years, even though it is a public brokerage, with revenue equivalent to Interactive Brokers now.
RH has purchased excess SIPC, just like the big boys. Considering what SIPC actually covers, I'm not worried. Securities/SIPC are fundamentally different than banks/FDIC where you're actually lending the bank your money to use as they see fit. https://robinhood.com/us/en/support/art ... protected/
I'm not entirely comfortable going beyond that limit at RH for 5 years, even though it is a public brokerage, with revenue equivalent to Interactive Brokers now.
RH has purchased excess SIPC, just like the big boys. Considering what SIPC actually covers, I'm not worried. Securities/SIPC are fundamentally different than banks/FDIC where you're actually lending the bank your money to use as they see fit. https://robinhood.com/us/en/support/art ... protected/
What is the aggregate limit of the supplemental insurance? Yeah, they'll show you that your account is covered up to $X. But there is generally an aggregate limit to coverage that could make any given individual's pro-rata coverage much more limited.
This additional insurance policy provides protection for securities and cash up to an aggregate of $1 billion, and is limited to a combined return per customer of $50 million in securities, including $1.9 million in uninvested cash. Similar to SIPC protection, this additional insurance doesn’t protect against a loss in the market value of securities.
potatogun wrote: ↑Fri Jan 10, 2025 12:52 pm
It says in the rather short FAQ post...
This additional insurance policy provides protection for securities and cash up to an aggregate of $1 billion, and is limited to a combined return per customer of $50 million in securities, including $1.9 million in uninvested cash. Similar to SIPC protection, this additional insurance doesn’t protect against a loss in the market value of securities.
Is $1B a lot? How many billions are invested at Robinhood?
potatogun wrote: ↑Fri Jan 10, 2025 12:52 pm
It says in the rather short FAQ post...
Is $1B a lot? How many billions are invested at Robinhood?
RH has ~$5.5B of their own investments/cash on-hand per their publicly available reporting as a public company, $195B AUC, and 24.8M funded customers. They don't explicitly list average account size, but if you divided those last two numbers you'd get an average account size of $7,863 . I'm not super worried about this. If you are, don't use them, or keep it under SIPC.
Last edited by nalor511 on Fri Jan 10, 2025 1:37 pm, edited 1 time in total.
Is $1B a lot? How many billions are invested at Robinhood?
RH has ~$5.5B of their own investments/cash on-hand per their publicly available reporting as a public company, $195B AUC, and 24.8M active customers. They don't explicitly list average account size, but if you divided those last two numbers you'd get an average account size of $7,863 . I'm not super worried about this. If you are, don't use them, or keep it under SIPC.
That's exactly what I am doing. Staying under SIPC.
RH has ~$5.5B of their own investments/cash on-hand per their publicly available reporting as a public company, $195B AUC, and 24.8M active customers. They don't explicitly list average account size, but if you divided those last two numbers you'd get an average account size of $7,863 . I'm not super worried about this. If you are, don't use them, or keep it under SIPC.
That's exactly what I am doing. Staying under SIPC.
The most recently available earnings report states avg funded retirement account size ~$10,500 https://s28.q4cdn.com/948876185/files/d ... tation.pdf . None of those small accounts would be pulling from the excess-SIPC pool in the event of catastrophic failure. Plenty of info available about RH's financials. Cheers
That's exactly what I am doing. Staying under SIPC.
The most recently available earnings report states avg funded retirement account size ~$10,500 https://s28.q4cdn.com/948876185/files/d ... tation.pdf . None of those small accounts would be pulling from the excess-SIPC pool in the event of catastrophic failure. Plenty of info available about RH's financials. Cheers
I guess for most rational investors, this coverage would be enough. But after living through 2008, I'm just not comfortable with beyond SIPC at brokerages that are new and not proven to be too big to fail. Yeah, even the big guys might have something we don't know about, but I'll stick with them for assets over $500,000.
I guess I might add this: do people with accounts over $500,000 really want to park their money with a firm that is set up to for accounts averaging $10,500? Would you take your Mercedes to a Chevy dealer?
That's exactly what I am doing. Staying under SIPC.
The most recently available earnings report states avg funded retirement account size ~$10,500 https://s28.q4cdn.com/948876185/files/d ... tation.pdf . None of those small accounts would be pulling from the excess-SIPC pool in the event of catastrophic failure. Plenty of info available about RH's financials. Cheers
That's a very fair comment. I agree that the risk should be minimal.
However, I'm also concerned about something disruptive really harming RH. 4 years back, it was driven to the verge of having to shut down because of the GameStop frenzy. It was able to avoid that and has increased its capital reserves. But what if another unexpected event (*) were to happen that were to drain its capital? I'm especially concerned because it seems like a lot of its base trade options, futures, crypto and the like. I think that in theory, the broker should have no risk if its customers trade risky instruments, but we saw in the GameStop case that even trading routine stuff at high frequencies can drive a broker to the edge.
A 5-year lockup when you have to face the unpleasant situation of hearing bad news about RH every few days and agonizing over whether to stay (and bear the risk) or withdraw and lose the bonus doesn't strike me as great. And yes, I know we're talking about hypotheticals.
(*) I wouldn't even call it black swan, it's not that uncommon.
The most recently available earnings report states avg funded retirement account size ~$10,500 https://s28.q4cdn.com/948876185/files/d ... tation.pdf . None of those small accounts would be pulling from the excess-SIPC pool in the event of catastrophic failure. Plenty of info available about RH's financials. Cheers
That's a very fair comment. I agree that the risk should be minimal.
However, I'm also concerned about something disruptive really harming RH. 4 years back, it was driven to the verge of having to shut down because of the GameStop frenzy. It was able to avoid that and has increased its capital reserves. But what if another unexpected event (*) were to happen that were to drain its capital? I'm especially concerned because it seems like a lot of its base trade options, futures, crypto and the like. I think that in theory, the broker should have no risk if its customers trade risky instruments, but we saw in the GameStop case that even trading routine stuff at high frequencies can drive a broker to the edge.
A 5-year lockup when you have to face the unpleasant situation of hearing bad news about RH every few days and agonizing over whether to stay (and bear the risk) or withdraw and lose the bonus doesn't strike me as great. And yes, I know we're talking about hypotheticals.
(*) I wouldn't even call it black swan, it's not that uncommon.
If RH fails, so what? Your shares aren't immediately "lost" just because your broker fails. Your shares being "lost" would imply broker malfeasance, which is the sort of thing SIPC covers (i.e. SIPC doesn't even get involved except in cases of fraud/theft). You are not *just* protected by SIPC, you are also protected by SEC and FINRA regulations. The SEC forbids the comingling of broker assets and investor assets, so your assets get separate book entries and will just be moved to your new broker. https://www.finra.org/investors/insight ... -its-doors
For those who transferred their Wells Trade account with FRSXX to Fidelity, are you able to continue buying more shares of FRSXX? The FRSXX shares just hit my Fidelity account today, but when I tried to buy more shares, it says:
(003908) The quantity you specified is less than the minimum required to buy shares in the mutual fund you selected. The selected mutual fund has a minimum investment requirement of $9,999,999
I obviously don't have 10 million in FRSXX, but I read some other people here say they could continue buying FRSXX even if their investments were below the min initial investment?
Veteran wrote: ↑Fri Jan 10, 2025 4:20 pm
For those who transferred their Wells Trade account with FRSXX to Fidelity, are you able to continue buying more shares of FRSXX?
Yes, but it took an extra day. I'd expect you'll be fine on Monday. I have never had remotely $10M worth of it but I've happily bought additional small quantities, moved some to another account, etc. (I recommend moving some to another account just in case you zero it out.)
Veteran wrote: ↑Fri Jan 10, 2025 4:20 pm
For those who transferred their Wells Trade account with FRSXX to Fidelity, are you able to continue buying more shares of FRSXX? The FRSXX shares just hit my Fidelity account today, but when I tried to buy more shares, it says:
(003908) The quantity you specified is less than the minimum required to buy shares in the mutual fund you selected. The selected mutual fund has a minimum investment requirement of $9,999,999
I obviously don't have 10 million in FRSXX, but I read some other people here say they could continue buying FRSXX even if their investments were below the min initial investment?
You didn't wait long enough to buy more. Should work on Monday.
The most recently available earnings report states avg funded retirement account size ~$10,500 https://s28.q4cdn.com/948876185/files/d ... tation.pdf . None of those small accounts would be pulling from the excess-SIPC pool in the event of catastrophic failure. Plenty of info available about RH's financials. Cheers
I guess for most rational investors, this coverage would be enough. But after living through 2008, I'm just not comfortable with beyond SIPC at brokerages that are new and not proven to be too big to fail. Yeah, even the big guys might have something we don't know about, but I'll stick with them for assets over $500,000.
I guess I might add this: do people with accounts over $500,000 really want to park their money with a firm that is set up to for accounts averaging $10,500? Would you take your Mercedes to a Chevy dealer?
I think the more relevant problem with RH is they just don’t offer as many “products” as a big brokerage. No individual bonds, no mutual funds. That’s preventing me from moving everything over.
I guess for most rational investors, this coverage would be enough. But after living through 2008, I'm just not comfortable with beyond SIPC at brokerages that are new and not proven to be too big to fail. Yeah, even the big guys might have something we don't know about, but I'll stick with them for assets over $500,000.
I guess I might add this: do people with accounts over $500,000 really want to park their money with a firm that is set up to for accounts averaging $10,500? Would you take your Mercedes to a Chevy dealer?
I think the more relevant problem with RH is they just don’t offer as many “products” as a big brokerage. No individual bonds, no mutual funds. That’s preventing me from moving everything over.
I just reorganized things (e.g. instead of individual short Treasuries, sgov) so that I could hold at RH. The cost of the reorganizing is dwarfed by the bonuses paid by RH MF can be easily replaced by ETF
I think the more relevant problem with RH is they just don’t offer as many “products” as a big brokerage. No individual bonds, no mutual funds. That’s preventing me from moving everything over.
I just reorganized things (e.g. instead of individual short Treasuries, sgov) so that I could hold at RH. The cost of the reorganizing is dwarfed by the bonuses paid by RH MF can be easily replaced by ETF
Does anyone know if the Chase private client bonus resets the 24 month clock for the Chase $900 checking + savings bonus? Or are they separate? Thanks!!!!
Veteran wrote: ↑Fri Jan 10, 2025 4:20 pm
For those who transferred their Wells Trade account with FRSXX to Fidelity, are you able to continue buying more shares of FRSXX?
Yes, but it took an extra day. I'd expect you'll be fine on Monday. I have never had remotely $10M worth of it but I've happily bought additional small quantities, moved some to another account, etc. (I recommend moving some to another account just in case you zero it out.)
Veteran wrote: ↑Fri Jan 10, 2025 4:20 pm
For those who transferred their Wells Trade account with FRSXX to Fidelity, are you able to continue buying more shares of FRSXX? The FRSXX shares just hit my Fidelity account today, but when I tried to buy more shares, it says:
(003908) The quantity you specified is less than the minimum required to buy shares in the mutual fund you selected. The selected mutual fund has a minimum investment requirement of $9,999,999
I obviously don't have 10 million in FRSXX, but I read some other people here say they could continue buying FRSXX even if their investments were below the min initial investment?
You didn't wait long enough to buy more. Should work on Monday.
Thank you! I was able to place the order today.
Are you able to confirm that FRSXX does auto-liquidate just like the core position (e.g. SPAXX)?
The most recently available earnings report states avg funded retirement account size ~$10,500 https://s28.q4cdn.com/948876185/files/d ... tation.pdf . None of those small accounts would be pulling from the excess-SIPC pool in the event of catastrophic failure. Plenty of info available about RH's financials. Cheers
I guess for most rational investors, this coverage would be enough. But after living through 2008, I'm just not comfortable with beyond SIPC at brokerages that are new and not proven to be too big to fail. Yeah, even the big guys might have something we don't know about, but I'll stick with them for assets over $500,000.
I guess I might add this: do people with accounts over $500,000 really want to park their money with a firm that is set up to for accounts averaging $10,500? Would you take your Mercedes to a Chevy dealer?
Having more money isn’t a different product. It is more of the same product. Would I take my 20 Fords to a ford dealer? Yes.
I guess for most rational investors, this coverage would be enough. But after living through 2008, I'm just not comfortable with beyond SIPC at brokerages that are new and not proven to be too big to fail. Yeah, even the big guys might have something we don't know about, but I'll stick with them for assets over $500,000.
I guess I might add this: do people with accounts over $500,000 really want to park their money with a firm that is set up to for accounts averaging $10,500? Would you take your Mercedes to a Chevy dealer?
Having more money isn’t a different product. It is more of the same product. Would I take my 20 Fords to a ford dealer? Yes.
Good twist on my analogy. But I’ll stay within my SIPC coverage at the Ford dealer.
Yes, but it took an extra day. I'd expect you'll be fine on Monday. I have never had remotely $10M worth of it but I've happily bought additional small quantities, moved some to another account, etc. (I recommend moving some to another account just in case you zero it out.)
Can you clarify where you see this exactly (or post a screenshot)? If you go through the steps to start a wire transfer out of a Robinhood taxable account from within the app, it is showing you a clawback value on the final screen before pressing submit?
Thanks!
It is a little sneaky. It gets to a confirm button with the amount etc, then you press confirm, then it says "you will lose X of your bonus, are you sure?" With another confirm button.
If there is no clawback at risk, the first confirm button submits the transfer, and if there is a clawback then it's the second confirm button (or you can cancel). If you submit your transfer and change your mind you can cancel from the history page
I have not done a wire, only ACH
Interesting thank you. Please report back if you ever try a wire. Also, how long do you have to change your mind?
And, has any other Robinhood user here ever seen this in the wire transfer workflow?
billthecat wrote: ↑Fri Jan 10, 2025 7:37 pm
I'll have just over $1M coming in, in about a month. Any suggestions for maximizing bonuses?
I have a similar questions. Looking for the best $1M transfer bonus.... not really interested in RH. I had seen one at 4500 on $1M...
is anyone seeing a better one?
Can you clarify where you see this exactly (or post a screenshot)? If you go through the steps to start a wire transfer out of a Robinhood taxable account from within the app, it is showing you a clawback value on the final screen before pressing submit?
Thanks!
It is a little sneaky. It gets to a confirm button with the amount etc, then you press confirm, then it says "you will lose X of your bonus, are you sure?" With another confirm button.
If there is no clawback at risk, the first confirm button submits the transfer, and if there is a clawback then it's the second confirm button (or you can cancel). If you submit your transfer and change your mind you can cancel from the history page
I have not done a wire, only ACH
Also one more question here - are you referring to a clawback of their (no longer offered) 1% Gold Deposit Boost, their original 1% ACATS transfer bonus, or their HOOD week 2% ACATS transfer bonus?
billthecat wrote: ↑Fri Jan 10, 2025 7:37 pm
I'll have just over $1M coming in, in about a month. Any suggestions for maximizing bonuses?
I have a similar questions. Looking for the best $1M transfer bonus.... not really interested in RH. I had seen one at 4500 on $1M...
is anyone seeing a better one?
It is a little sneaky. It gets to a confirm button with the amount etc, then you press confirm, then it says "you will lose X of your bonus, are you sure?" With another confirm button.
If there is no clawback at risk, the first confirm button submits the transfer, and if there is a clawback then it's the second confirm button (or you can cancel). If you submit your transfer and change your mind you can cancel from the history page
I have not done a wire, only ACH
Also one more question here - are you referring to a clawback of their (no longer offered) 1% Gold Deposit Boost, their original 1% ACATS transfer bonus, or their HOOD week 2% ACATS transfer bonus?
Yes. There's a separate message for each, if you are losing any of each, before the final confirm.
I'm looking at the current M1 Brokerage "BAT" (Brokerage Transfer Bonus) and I see the following qualifications (at the bottom of my post). So I guess this means mutual fund transfers don't qualify for the bonus? What about Vanguard ETF versions of their mutual funds? But my main question here is about the net transfer value must remain at or above transfer value. Yeah, if the stocks go down due to market conditions, that's OK. But what if I pull out the transferred stock goes down and I remove dividends along the way, which is what I do?
"What types of transfers and accounts are eligible for the January 2025 BAT Promotion?
To qualify, the funds must be transferred from external brokerage accounts to eligible M1 accounts. The following are ineligible:
Internal transfers within M1
ACH deposits, wire transfers, or direct 401(k), 403(b), and/or 457(b) rollovers
Cryptocurrency
Transfers involving cryptocurrency, mutual funds, or over-the-counter (OTC) securities (these will be liquidated upon receipt).
What conditions must be met to receive the January 2025 BAT promotional payout?
To receive the January 2025 BAT promotional payout:
The transferred funds must be settled in the eligible account(s) by January 31, 2025.
The net transfer value must remain equal to or greater than the original value (minus trading losses, market volatility, or margin balances) through January 31, 2026 (the Holding Period).
Reallocation of funds or withdrawals during the Holding Period will disqualify the transfer from the promotion and the bonus amount will be forfeited."
Leesbro63 wrote: ↑Tue Jan 14, 2025 5:51 am
I'm looking at the current M1 Brokerage "BAT" (Brokerage Transfer Bonus) and I see the following qualifications (at the bottom of my post). So I guess this means mutual fund transfers don't qualify for the bonus? What about Vanguard ETF versions of their mutual funds? But my main question here is about the net transfer value must remain at or above transfer value. Yeah, if the stocks go down due to market conditions, that's OK. But what if I pull out the transferred stock goes down and I remove dividends along the way, which is what I do?
"What types of transfers and accounts are eligible for the January 2025 BAT Promotion?
To qualify, the funds must be transferred from external brokerage accounts to eligible M1 accounts. The following are ineligible:
Internal transfers within M1
ACH deposits, wire transfers, or direct 401(k), 403(b), and/or 457(b) rollovers
Cryptocurrency
Transfers involving cryptocurrency, mutual funds, or over-the-counter (OTC) securities (these will be liquidated upon receipt).
What conditions must be met to receive the January 2025 BAT promotional payout?
To receive the January 2025 BAT promotional payout:
The transferred funds must be settled in the eligible account(s) by January 31, 2025.
The net transfer value must remain equal to or greater than the original value (minus trading losses, market volatility, or margin balances) through January 31, 2026 (the Holding Period).
Reallocation of funds or withdrawals during the Holding Period will disqualify the transfer from the promotion and the bonus amount will be forfeited."
As far as I can remember, m1 doesn't support mutual funds. You can hold almost any ETF anywhere....that's the appeal of them.
Leesbro63 wrote: ↑Tue Jan 14, 2025 5:51 am
I'm looking at the current M1 Brokerage "BAT" (Brokerage Transfer Bonus)
...
But my main question here is about the net transfer value must remain at or above transfer value. Yeah, if the stocks go down due to market conditions, that's OK. But what if I pull out the transferred stock goes down and I remove dividends along the way, which is what I do?
I think it's clear you would lose the bonus if your only transfers are outbound (i.e., net transfers are out). The fact that you're transferring out dividends isn't germane. That's a transfer out, period.
If you want the bonus, you'll need to adapt to some new constraints.
Leesbro63 wrote: ↑Tue Jan 14, 2025 5:51 am
I'm looking at the current M1 Brokerage "BAT" (Brokerage Transfer Bonus)
...
But my main question here is about the net transfer value must remain at or above transfer value. Yeah, if the stocks go down due to market conditions, that's OK. But what if I pull out the transferred stock goes down and I remove dividends along the way, which is what I do?
I think it's clear you would lose the bonus if your only transfers are outbound (i.e., net transfers are out). The fact that you're transferring out dividends isn't germane. That's a transfer out, period.
If you want the bonus, you'll need to adapt to some new constraints.
Thanks for that interpretation, which I agree with. Half a percent bonus is a good payday, but I'm just about ready to let this one go because of too many restrictions.
Leesbro63 wrote: ↑Tue Jan 14, 2025 5:51 am
I'm looking at the current M1 Brokerage "BAT" (Brokerage Transfer Bonus) and I see the following qualifications (at the bottom of my post). So I guess this means mutual fund transfers don't qualify for the bonus? What about Vanguard ETF versions of their mutual funds? But my main question here is about the net transfer value must remain at or above transfer value. Yeah, if the stocks go down due to market conditions, that's OK. But what if I pull out the transferred stock goes down and I remove dividends along the way, which is what I do?
"What types of transfers and accounts are eligible for the January 2025 BAT Promotion?
To qualify, the funds must be transferred from external brokerage accounts to eligible M1 accounts. The following are ineligible:
Internal transfers within M1
ACH deposits, wire transfers, or direct 401(k), 403(b), and/or 457(b) rollovers
Cryptocurrency
Transfers involving cryptocurrency, mutual funds, or over-the-counter (OTC) securities (these will be liquidated upon receipt).
What conditions must be met to receive the January 2025 BAT promotional payout?
To receive the January 2025 BAT promotional payout:
The transferred funds must be settled in the eligible account(s) by January 31, 2025.
The net transfer value must remain equal to or greater than the original value (minus trading losses, market volatility, or margin balances) through January 31, 2026 (the Holding Period).
Reallocation of funds or withdrawals during the Holding Period will disqualify the transfer from the promotion and the bonus amount will be forfeited."
As far as I can remember, m1 doesn't support mutual funds. You can hold almost any ETF anywhere....that's the appeal of them.
Now that you mention it, yeah, I do remember that M1 doesn't support mutual funds. Thanks for the reminder.
But I’ll stay within my SIPC coverage at the Ford dealer. 
