E*Trade: Up To $6,000 Brokerage Bonus ($1k-$2M Required)

Update 10/2/24: Tiers have changed a bit, updated below. Offer now valid through 1/31/25 with promo code OFFER24. (There’s another link for Morgan Stanley clients with better tiers and higher tiers.)

The Offer

Direct link to offer | Better link

• E*Trade is offering a bonus of up to $6,000 for E*Trade customers when you apply the promo code during signup. Bonus is tiered depending on how much you deposit in cash or securities within 60 days of enrollment.
  • $1,000+ will receive $50;
  • $5,000-$19,999 will receive $150;
  • $20,000-$99,999 will receive $200;
  • $100,000-$199,999 will receive $600;
  • $200,000-$499,999 will receive $800;
  • $500,000+ will receive $1,000;
  • $1M+ will receive $3,000;
  • $1.5M+ will receive $5,000;
  • 2M+ will receive $6,000

The Fine Print

• If you deposit $250,000-$499,999, you will receive a cash credit within seven business days
• . If you have deposited at least $250,000 in the new account, and you make subsequent deposits in that account to reach a higher tier, you will receive a second cash credit following the close of the 60-day window.
• For example, if you deposit $300,000, you will receive a cash credit of $1000 within seven business days, then if you deposit another $200,000 you will receive an additional cash credit of $500 at the end of the 60-day window for a total reward of $1,500
• If you deposit $1,000,000 or more, you will receive a cash credit within seven business days.
• All other reward tiers ($5,000-$24,999; $25,000-$99,999; $100,000-$199,999; $200,000 – $249,999; $500,000-$999,999) will be paid following the expiration of the 60-day period.
• In addition, if you deposit $500,000 or more into your new account, deposits made in eligible linked accounts during the 60 day period will be aggregated for purposes of the reward and the credits will be paid pro-rata to all accounts where deposits were made during the 60-day period. For example, if you have deposited $500,000 in your new account during the 60 day period, and during the same period you deposited $100,000 into another eligible account you have linked to the new account you will receive $1,250 in your new account and $250 into the other eligible account.
• Account holders must maintain the funds (minus any trading losses) for at least six months one year or credit may be surrendered.

Our Verdict

This is better than standard new user deal and the same as the existing user deal. Definitely one of the best brokerage bonuses that is currently available. Do not share your referrals in the comments below, instead you can share them on this linked page.

Update History:

• Update 6/1/24: Tiers have been improved.
• Update 5/6/24:  Added the two higher tiers of $2,500 and $4,000 bonus
• Update: Terms state ‘You must be the original recipient of this offer to enroll.’ but not marking this as targeted as it’s advertised on the homepage.
• Update 4/4/24: They made the low-end tiers better now, both of these will be interested to some people: $50 deposit gets $100, $1,000 deposit gets $150. Use code PROMO24. (Previously you needed $1,000 deposit to get $100.)
• Update 1/7/24: Deal is back, all of the tiers are much worse than before.
• Update 11/10/23: Bonus is back with code PROMO23, but at lower amounts. Max bonus is $3,500 now. See the tiers at this link.
• Update 5/12/23: Bonuses increased significantly, updated below. (The $5k tier is gone, removed below.) Valid through June 30, 2023. This bonus is for existing E*Trade customers.
• Update 6/9/22: There’s also a $5,000 bonus tier with $2,000,000 deposited at this link. This one is for existing customers only. (ht Dave R)
• Update 1/7/22: New deal valid until 12/31/22.
• Update 8/3/21: There is a new deal, up to $4,000 for existing customers and $3,500 for new customers. Bonuses for existing customers are slightly lower, but there is a higher $2mill+ tier for $4,000.
• Update 2/1/21: Deal has been extended until February 28, 2021.
• Update 6/1/20: Extended until December 31st, 2020. Bonuses have been reduced