Update 4/1/23: Extended until 5/31.
Update 2/15/23: Bonus has been increased to $250, valid through 3/31/23. (ht Luke)
The Offer
- Axos Bank is offering a
$200$250 bonus when you open a new Axos invest account when you deposit $2,000 within 60 days and maintain an average balance of $2,000+ for 90 days. Self-Directed Trading accounts will need to additionally make two trades to qualify; Each trade requires a $25 minimum.
The Fine Print
- This offer is valid for one new Non-Qualified Axos Invest Self-Directed Trading account per person and only open to U.S. residents.
- Current and former Axos Invest clients who have received a promotion within the last 365 days or who have closed an account within the last 365 days are not eligible for this offer.
- This offer is non-transferrable.
- Other restrictions may apply.
- This offer is not valid anywhere Axos Invest is not authorized to offer services.
- Accounts must be opened by 12/31/21 and funded within 60 days of account opening to qualify for the cash bonus.
- You must open a new account and have qualifying deposit(s) that total at least $2,000.00 within 60 days to qualify for a $200 bonus, the bonus will be deposited into your account within 10 days following the 90-day waiting period.
- Accounts will be reviewed after this 90 day period to determine whether all terms have been satisfied. If all terms have been satisfied,
- The cash bonus will be credited to the account within a 10-business day processing period.
Our Verdict
Seems like a very easy brokerage bonus, although it’s not a huge bonus. We will add this to our list of the best brokerage bonuses.
Hat tip to ShawntheShawn
Post history:
- Update 11/21/22: Bonus has been increased to $200.
- Update 8/30/22: Bonus has been decreased to $150.
- Update 7/13/22: $200 brokerage offer is now public, but with different requirements. Now you need to open both a new Axos Invest Self-Directed Trading account and an Axos Rewards Checking account to get the $200
- Update 6/10/22: Looks like you can get $200 by calling in.
- Update 5/30/22: Bonus back to $150.
- Update 5/4/22: Back down to $100 now
- Update 3/3/22: Bonus is back to $150.
- Update 2/13/22: Bonus is back but down to $100.
- Update 11/27/21: Bonus increased to $150 from $100.
Did anyone get a 1099-int or misc for this?
I have not. I sent them a message to see if / when they were going to send one.
If anyone has any more information please let me know.
Did you get a response?
I haven’t received one either.
I haven’t received one too
Axis is trash. I took me three attempts to withdraw remaining funds since the transaction would literally disappear. Then they say the funds were returned because the account I transferred to was “closed” when it wasn’t and the charged me $30 fee and refuse to refund it. FINRA time I guess
How long do you have to keep the account opened?
Opened somewhere in April or may and deposited 2k and made one SoFi buy order(4shares) and sold those thinking that buy and sell orders are separately count, but even after 4months bonus did not posted. So sent secure message and agent replied saying I only made one trade, asked me complete another trade to receive bonus. So I did another trade and replied same message to open ticket. Agent replied I will be getting bonus in 2business days otherwise I can contact them again.
And bonus posted next day.
Though I got both checking and this bonus, IMO this banks pathetic website and trade platform. Not worth doing business with these guys.
Anyone know how long until the account can be closed? They don’t seem to mention this in the terms.
i cannot find the terms and conditions i need to know how long we have to make the two $25 transactions. i purchased 3 shares of sofi at $9.43ea and havent logged in since until tonight. They lowered my purchase price so that instead of $28.46, i paid $24.96. WTF?
if i get until the 90th day, i’ll be fine and can make another transaction. if it is 60days i may be screwed i opened on 5/20 and it is 1040pm 7/21….only 30days in June.
I know this is a dumb question. Can someone please provide detailed instructions of how to make an easy trade of something just over $50 on their website? I do not intend to make a fortune out of that trade but rather not to loose too much money in order to fulfill the requirement of the bonus. Thank you!
buy 1 share of sgov. Wait a day. Sell 1 share of sgov.
sgov is an etf that tracks 0-3 month treasury bills. With the interest rate of over 5%, the price of sgov will consistantly increase by about 0.02 to 0.01% each day you hold it. Note that sgov has a monthly dividend around the first of each month.
If you are risk adverse, I would also hold the 2k funding amount in sgov. Put in enough money to buy 20 shares and it would be like have 2 treasury bills at 5%.
Probably a dumb question that is rooted in my ignorance for trading ETFs, but does anyone know why there are several ETFs that I have attempted to purchase in my Axos self directed account, and it won’t let me saying “Buy orders for this security are not allowed.” WTF? Is that because that specific ETF is only available on a specific exchange platform? Or is it just because Axos sucks in general?
Not sure why but my bonus was posted only 30 days after making my deposit.
Account opened 3/23
Deposited $2200 on 5/10
Deposit cleared on 5/15
Made two trades on 5/18
Promo added to account 6/15 (Description on statement: $250 PROMO CREDIT)
Anybody know what Axos charges to transfer my self-directed trading account to another brokerage? I searched around but I’m not finding anything. I purchased some ETFs in order to get this bonus, and I’m currently at about $150 profit on what I purchased… trying to figure out if I just sell and cash out or transfer the securities to a better platform like Fidelity or something.