Scottrade Brokerage Account Bonus: Receive 3 Free Trades

This post is part of our series on IRA & Brokerage bonuses. Every Tuesday we share another bonus with you (sorry this one is late this week).

The Offer

Scottrade is now offering a bonus of three free trades for new customers who simply open a Scottrade account using the relevant promotion code.

Scottrade charges $7 for online trades of stocks at $1 or above, putting it on par with Capital One ShareBuilder‘s $6.95 for online trades.

Get 3 Free Trades

Direct link

To receive the free trades, you must do the following:

• Use the link above to open a new Scottrade account by filling out the online application. Enter the promotion code NQDU6823 on the second page of the application.
• Alternatively, open an account at a Scottrade branch near you. You must print out the free trades coupon online and give it to your Scottrade broker.

Rules:

• No specific offer expiration date could be cited in the terms.
• The three free trades would be credited to your account within 24 hours of offer eligibility confirmation. The free trades are valid for six months.
• Only new customers are eligible for this offer.
• Employee or custodial accounts are not eligible for this offer.
• The free trades can be used for online equity or option, market or limit, good until cancelled, or day orders executed for stocks priced at above $1. Other fees still apply.
• Limit one offer per registered account.
• Offer is not transferable or valid with other offers.
• The free trades can’t be transferred to another account.
• Investing involves risk.

The Verdict

If you were unable to participate in Scottrade’s cash deposit bonus and are still considering opening an account with Scottrade, this free trade promotion can provide a small but practical incentive with no initial deposit requirement. The six-month period allotted for exercising the free trades provides even average investors a decent amount of time to use those trades.

Additionally, if you decide to transfer $10,000 or more to Scottrade from another broker, Scottrade offers to reimburse you for account transfer fees from other brokers by up to $100. To receive the reimbursement offer, you will need to complete a Scottrade Account Transfer Reimbursement Request form along with a statement proving the transfer fees.

In 2014, J.D. Power named Scottrade “Highest in Investor Satisfaction with Self-Directed Services” for the second consecutive year.

Do you have experience using Scottrade? Let us know in the comments below!

H/T: Hustler Moner Blog