Interactive Brokers Promotion
Interactive Brokers offers the following promotion for opening a new IBKR account in the United States:
Get up to $1,000 in IBKR stock with this referral link!
Open IB Account
IBKR Sign Up Bonus
Interactive Brokers has a refer-a-friend promotion that could earn you and a friend hundreds of dollars in securities and cash. Keep reading if you like free money.
Interactive Brokers Promotion Overview
Both the referrer (the Interactive Brokers account holder inviting a friend) and the referee (the person invited) will receive awards from Interactive Brokers if certain conditions are met.
The IB account that makes the referral will receive $200 in cash. The new account that is referred will receive free stock in Interactive Brokers (ticker symbol IBKR), up to $1,000 total. Obviously, this promotion is pretty valuable, but only if all the rules are followed.
Interactive Brokers Promo Eligibility
Did we mention there is fine print? Oh, yes, to qualify, both parties will need to meet several criteria. We are talking about a lot of money, after all.
Customers of Interactive Brokers who have taxable individual, joint, trust, or organization accounts with a net liquidation value of at least $2,000 and at least one executed trade are eligible to invite friends to the brokerage firm. Other account types are not eligible to participate in this promotion (this includes IRAs).
Friends can be actual friends. IB clients who don’t have any friends can invite acquaintances, neighbors, co-workers, etc. Just about anyone except current IB customers or members of the same household. The new customer must meet normal eligibility requirements to open a brokerage account, such as meeting the minimum age requirement, which is 18.
Under Interactive Brokers’ rules, some people are not eligible at all to participate in this special. Current employees or agents of Interactive Brokers cannot refer friends. Residents of Spain, Japan, and Israel are not eligible, either. Residents of Canada and India can earn the $200 cash bonus but can’t receive free stock.
Professional traders generally aren’t eligible, either. These include proprietary trading accounts, financial advisors, institutional accounts, hedge funds, and introducing brokers.
The Rules for IBKR Sign Up Bonus
Besides eligibility, there are other rules. For example, existing customers can make up to 15 referrals per year. This creates a maximum annual return of $3,000. Not bad. Interactive Brokers puts a lifetime cap of 30 referrals on the promo, for a maximum lifetime bonus of $6,000.
The referred friend must open a new account and deposit at least $10,000 within 30 days. The new client will earn $1 in IBKR shares for every $100 of assets (cash or securities) added to the new account. There is a maximum of $1,000 in IBKR stock that can be earned under this promotion. Doing the math, we can see that in order to earn the maximum credit, the new client would have to deposit or transfer $100,000 in assets.
Assets that are transferred in to earn IBKR stock must be held in the account for at least 12 months.
Both old and new customers are fully responsible for any and all tax obligations incurred by receiving cash and securities from Interactive Brokers.
The new account must be opened through the link provided by the existing customer.
It probably goes without saying that current IB clients cannot refer themselves.
Competitor Promotions
Interactive Brokers Promo Restrictions
The new and old accounts cannot have any involvement with each other under the rules set by Interactive Brokers. For example, the old customer cannot:
Help with the preparation of the new customer’s account.
Teach the new client how to use IB’s software.
Act as a point of contact between the new account and the broker.
Trade in the new account.
Reasons to Choose Interactive Brokers
A brokerage account with Interactive Brokers opens up a lot of investment opportunities, including the ability to trade complex option strategies, foreign assets on foreign exchanges, fractional shares of stocks and ETFs, forex, futures, cryptocurrencies, and precious metals.
The broker has several advanced trading platforms with a lot of professional-level tools. Its desktop platform has tools that will benefit day and swing traders, and a simulated trading mode makes practicing very easy.
In addition to the large suite of trading resources, Interactive Brokers also has ultra-low commissions and some of the lowest margin rates in the business.
Interactive Brokers Bonus For Signing Up
Get up to $1,000 in IBKR stock with this referral link!
Open IB Account
Updated on 4/7/2022.
Continue Reading