Who needs another portable water bottle or mug that keeps coffee hot for a couple hours? Given the choice, wouldn’t you rather get free stocks just for opening a new brokerage account? That’s what we thought you’d choose.
Firstrade is a well known commission free brokerage. Recently, they jumped on the free stock bandwagon as have many other brokerages.
During the Firstrade Free Stock Promotion, you will get:
Each stock is worth between $3 and $200, which means the minimum you can win is $9 and the maximum is $600.
The promo is open only to US residents that set up an individual, joint or custodial account. You will receive your free stock within 30 days after Firstrade approves your account.
Firstrade will raffle off 20 iPhone 12's randomly on 2/1/2020, which is the date the promotion ends.
The free stocks are selected randomly and determined by an algorithm. The value of the share may be anywhere between $3 and $200, and fluctuates based on market movements. They will choose from the most popular companies on Firstrade, based on the trading volume in the last quarter.
There is an approximately 98% chance of the free stock having a value of $3-$10, an approximately 1% chance of the free stock having a value of $10-$50, and an approximately 1% chance of the free stock having a value of $50-$200, based on the price of shares at the time of purchase.
Put these stocks on your wish list: Apple, Boeing, Advanced Micro Devices.
Every stock you receive will have a 1 in 100 chance of being from one of these companies when you open an eligible account at Firstrade.
The free stock offer will be invalid if you do not complete the account opening process within 30 days. Eligible accounts must claim the free stock within 60 days after Firstrade gives you the claim button.
Firstrade will deposit the free stock into your account within about a week after the stock is claimed. You cannot withdraw the cash value of the free stock for 30 days after it is claimed.
The cash value of the free stock at the time you received it may be reported as “Other Income” on a 1099-Misc form. The brokerage will report any gains or losses on the sale of the stock as capital gains or losses.
This online investing broker offers zero commissions on stocks, ETFs, options and mutual funds. There is no minimum deposit and no additional fees. They have free options contracts and no assignment fees for options trades.
Another good feature is their free Dividend Reinvestment Plan (DRIP) that will automatically buy more shares every time you receive a dividend.
You can enroll either a single eligible stock or all eligible stocks in your portfolio. You can get the benefits of compounding returns on your investment without having to place an order, pay a commission, or even purchase a round number of shares through DRIP programs.
Firstrade is a solid platform offering many of the bells and whistles you are looking for, including direct reinvestment, fractional shares, free market research and a wide array of financial products.
The Free Stocks and iPhone Holiday Raffle Promotion is a good incentive for you to open an account during the month of December!