List of IRA Match Bonus Offers

We’ve been seeing more and more investment and retirement account match offers, and specifically IRA matches. These are for matches up to the legal limit which is $6,500 for 2023 and $7,000 for 2024. Those ages 50 or older can contribute $1,000 more each year.

Here are a few we’ve seen:

  1. SoFi 2% match. (DoC link | Direct Link) Valid through April 15, 2024. You’ll need to keep the IRA contribution with SoFi for at least 2 years in order to keep the bonus.
  2. Robinhood 1-3% match. (DoC link | Direct Link) This is a public offer. It’s 1% for anyone and 3% for those with Robinhood Gold (costs $5/month). There is a 5-year hold period.
  3. WeBull 3.5% match. (Terms link) Check the Promotion Center in the WeBull app for this promo. It’s also showing on referral links; let us know if you find a public link. (No referral links in the comments below.) This is paid out in 20% increments over 5 years, and must be held for the full 5 years to any of it.
  4. Please let us know of any others.

If I’m not mistaken, the SoFi and Robinhood matches are paid into the IRA, while the WeBull offer is paid into the linked brokerage account.

View Comments (121)

  • Are you able to do an acat for a traditional and roth ira and get the 4.5 percent referred bonus?

  • Does anyone know of a brokerage/bank offering an IRA deal that has a physical branch?

  • The nice thing is SOFI IRA lets you buy at the market prices fractional shares. Vanguard does not. I have both. Why not get a little 2% bonus plus ability to buy fractional shares on my contributions before April 15th through Sofi? I think so.

  • So the SoFi and webull promotions are not permanent. The Robinhood promotion more or less is. Hopefully this spreads to other brokerages.

  • These miniscule matches are an absurd reason to bounce your IRA(s) from place to place. They will be completely meaningless when the time comes for you to start taking distributions.

    If this is what's on your mind about increasing your retirement savings, I'm afraid you've got bigger issues you should probably be working on.

    • Are you able to do an acat for a traditional and roth ira and get the 4.5 percent referred bonus?

    • I think it depends what you invest in. If you just throw your money in some ETF that's available anywhere, why not get an extra couple percent 🤷‍♂️

  • I’m always skeptical about that WeBull company. It looks like a Chinese company collecting personal information of citizens in countries like the US and Australia, yet registered as a Singaporean business

    • Wait till you see Moomoo

      Even more like that. They want selfies to do an address change

    • Well...that's bull, as it would be an epic feat to get SIPC for a Singaporean business because...you can't.
      https://www.sipc.org/for-investors/what-sipc-protects

      That's why the Singapore entity is a subsidiary of Webull instead (Singapore is a subordinate, not the other way around), but Webull is a U.S.-based LLC headquartered in New York and incorporated in the Cayman Islands.
      https://www.sipc.org/list-of-members/

      While it might be U.S.-based, the Chinese connection is to Hunan Fumi Information Technology, of which Webull is not a wholly-owned subsidiary; and, while they do have a degree of autonomy, most of the private equity investors are nonetheless Chinese (so to pretend there is zero influence would be a farce).

      That said, they do have a Hong Kong entity as a subsidiary (again, Hong Kong is a subordinate), but given their legion compliance issues in China, they do a terrible job of complying with Chinese laws and mandates. That's certainly interesting compared to their comparably pristine record in the U.S., but if one is extremely prone to conspiracy: they may just do that as a cover as a really great espionage (rather than brokerage) firm?

  • That's a sad short list. No major brokerages.
    5 years hold time for something called WeBull... it's a pass for me.

    For people doing mega backdoor Roth, do these bonuses eat into annual max contribution of $69,000?

      • IRA bonuses paid into the IRA account are not relevant to the contribution maximums as they (general consensus) are not considered contributions.

      • Contributions from the individual or from a third-party source directed by the individual to the IRA are contributions subject to the maximum. Earnings including bonuses paid by the brokerage into the IRA aren't contributions. If treated as contributions to Traditional IRA instead of earnings, they couldn't be subject to earnings taxes.

    • Promo bonus paid into IRAs are not considered to be contributions by the general consensus. Though a brokerage will tell you to seek appropriate tax and legal advice.

      These contribution (~7k single limit) promos are unlikely to be worth your time if you're talking about having sizable 5 figure and or into multiples of 6 figures accounts. Just go after regular brokerage/bank bonuses that allow IRAs.

      These match promos are more for early investor/small balance enticement to start retirement savings.