This post is part of our series on IRA & Brokerage bonuses. Every Tuesday we share another bonus with you.
The Offer
Muriel Siebert & Co., Inc. is offering a bonus of 10 commission-free trades for eligible customers who open a new brokerage account before 6/30/2015. Customers will also receive an extra trade for every $25,000 in assets transferred from another financial institution to Muriel Siebert.
Muriel Siebert’s website indicates a standard pricing model of $14.95 per online or mobile trade for up to 1,000 equity shares of either market or limit orders. However, they also note that special commission rates can be negotiated on an individual basis based on your investment activity and asset size with the firm.
Get 10 Free Trades
To receive the free trades, you must do the following:
- Use the link above to open a new Muriel Siebert brokerage account by 6/30/2015.
- For every $25,000 in external financial assets transferred into the Muriel Siebert account, you will receive one extra trade.
Rules:
- Offer expires 6/30/2015.
- Valid assets transferred into the account include cash and/or securities transferred from another financial institution into Muriel Siebert brokerage account. Assets transferred from existing Muriel Siebert accounts do not qualify.
- Only new customers are eligible for this offer.
- Free trades are valid for up to three months from date they were issued, as long as no assets have been transferred out in an amount equal to or surpassing the incoming transfer. A maximum commission credit of $100 per trade is available.
- Offer is not valid for asset transfers used to pay for stock transactions.
- You must keep the new account open for six consecutive months.
- Offer valid for U.S. citizens residents only.
- Offer is not transferable nor valid in conjunction with other offers.
- Investing involves risk.
The Verdict
Muriel Siebert’s standard online and mobile trading fees are the highest of the brokers we have covered to date, however, the firm notes that self-directed investors can partake in significant savings by using their services. This may suggest that the unadvertised, negotiable commission rates may be worthwhile for highly active investors with sizeable assets they wish to invest with Muriel Siebert. The firm also offers brokerage transfer reimbursement for up to $100 per account and makes the claim of offering competitive margin rates. The free trades themselves must be executed within three months of issuance, and the account must remain open for six months, so the offer is best utilized by an investor who is expressly interested in Muriel Siebert. It does not make sense for the casual trader seeking a few quick trades.
Muriel Siebert & Co has an interesting background. Ms. Siebert herself was the first woman to own a seat on the NYSE. She converted her firm into a discount brokerage in 1975. Muriel Siebert & Co is a member of FINRA/SIPC.
Do you have experience investing with Muriel Siebert & Co? Let us know in the comments below!
H/T: Money’s My Life
