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Written by Cari Scribner on January 13, 2021
Category: 
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Firstrade Free Stock Promo 2021: Win Up To $600!

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:

  • One free stock just for opening an account
  • Two additional free stocks when you deposit or transfer $100 or more
  • Get a chance to earn an iPhone 12 if you deposit early (by 12/30/2020)

Each stock is worth between $3 and $200, which means the minimum you can win is $9 and the maximum is $600.

Firstrade Free Stock Promo

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.

How Free Stocks Are Selected

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.

Popular Stocks In The Raffle

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.

Taxes On Free Stocks

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.

Best Free Stock Promotions

BrokeragePromotionLink
Robinhood Logo1 Free Stock (Up To $200)Download
Webull Logo4 Free Stocks (Up To $3,700)Download
Firstrade trading platform3 Free Stocks (Up To $600)Download
Public LogoFree $10 Stock SliceDownload
M1 Finance Robo AdvisorGet $30 When You Deposit $1,000Download

What Is Firstrade?

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.

Conclusion: Firstrade Free Stock Promo

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!

firstrade free stock and iphone promotion
Article written by Cari Scribner
Cari Scribner is a career journalist with 20 year’s experience writing for newspapers and magazines. Now a freelance writer, she is also a published fiction writer with more than 15 short stories in literary mags. She recently completed a novel that is on the desk for consideration at two publishing houses. She lives with her two small dogs, Miloh and Lucy, in Upstate NY.

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