The Offer
TradeUp brokerage is offering the following three bonuses which stack together:
- New TradeUp brokerage who make an ACATS transfer from another brokerage into TradeUp by December 31, 2024 are eligible for 2% cashback on the transferred amount. Max $1,000 bonus (transfer $50k or more to get the max $1,000 bonus).
- Clients who transfer $100,000 or more to their TradeUP account and maintain their transferred assets for a year will receive an additional 1% match ($1,000 capped match).
- Those who signup with TradeUp also get some free stocks: 2 for $100 deposit, 3 for $2,500 deposit, 4 for $10,000 deposit, 5 for $100,000 deposit.
Offer valid August 5 – December 31, 2024. You can find this offer on the TradeUp homepage scroll and mentioned on this page; find the terms on this page. You can find the 5 stock offer on this page and the terms on this page.
Important Notes
- There is a $50 fee for doing a full account ACAT-out, so keep that in mind if you aren’t sure that you’ll be staying with the brokerage forever.
- It appears these bonuses are all for new customers (“new clients“).
- Clients who transfer assets from a brokerage account that was originally opened through TradeUP Securities, Inc. and now clears exclusively through Interactive Brokers are not eligible for this campaign.
- This promotion applies exclusively to an account’s first ACAT transfer that qualifies for this promotion. Subsequent ACAT transfers will not qualify for this promotion.
- An account is said to have “maintained the value of the transferred assets” if it does not initiate any withdrawals or outgoing account transfers during the specified period. Transactions involving securities purchases and changes in asset valuation do not affect reward eligibility. However, withdrawals or account transfers will result in forfeiture of the reward.
- Cashback Distribution: Cashback will be distributed quarterly, with payments made on the last business day of each fiscal quarter. The maximum cashback amount per quarter is $350. The distribution schedule follows below: After the first 90 calendar days: Clients must maintain their account assets for a full 90 calendar days from the settlement date. The first cashback installment will be distributed at the end of the first full fiscal quarter after the 90 calendar day period. For example, if the settlement date is August 15, 2024, the first cashback installment will be distributed on December 31, 2024. Subsequent Quarters: Cashback will be distributed on the last business day of each subsequent fiscal quarter. For example, if a user completes an ACAT transfer of $50,000 and qualifies for a 2% cashback bonus, they will receive a total of $1,000. This amount will be distributed in installments of $350 for the first quarter, $350 for the second quarter, and $300 for the third quarter. If the transfer date is August 15, 2024, the first $350 installment will be distributed on December 31, 2024, with subsequent installments of $350 and $300 distributed on March 31, 2025 and June 30, 2025, respectively. By participating in this campaign and receiving the cashback bonus, you agree that the cashback bonus will not be issued until the end of the first full fiscal quarter after the 90 calendar day holding period is complete. The cashback bonus is subject to forfeiture if the account is transferred out within 90 calendar days of the cashback issuance. Certain restrictions may apply when you request withdrawal of the cashback bonus.
- Where required by applicable rules and regulations, the value of all TradeUP Securities Inc. offers received may be reported as Other Income on Form 1099-MISC. TradeUP Securities Inc. is not responsible for individual tax reporting related to this reward program.
Our Verdict
If you transfer in $50k you’ll get $1k bonus and around $40/$80 in free stock. If you transfer in $100k you’ll get $2k bonus and around $50/$100 in free stocks. And you can get up to $300 to cover any fees from your old brokerage company.
Overall this offer is from the better brokerage bonuses we’ve seen. We’ll add this to the list of Best Brokerage Bonuses.
Though the long hold times are a pain, I’m still thinking of hitting this one. I’ll signup on the offer landing page in the coming weeks and transfer $100k from my current brokerage account in a single ACAT transfer to TradeUp. I’ll get 5 free stocks right away which will be worth $50 or more. Then I’ll get $350 on March 31, 2025 and another $350 on June 30, 2025 and another $300 on September 30, 2025 to complete the $1k bonus for the 2% part. I’ll also get another $1,000 bonus for the 1% $100k match (it’s not clear in the fine print when that $1k bonus will payout). I’ll then leave my funds there until at least the end of 2025 since the fine print mentions leaving funds until 90 days after bonus payout.
If anyone has used TradeUp in the past, kindly share your experiences with them in the comments below. Specifically I’d be interested in knowing whether cost-basis transfers over properly when transferring stocks from another brokerage.
Hat tip to reader Lrdx
what do you buy with that 100k?
Well, I know where I’m sending my Citi account when that bonus posts. 😀
It sounds like they credit up to $300 in transfer fees in addition to this bonus.
Seems like the Chase or Wells Fargo offers would be better since you’re not tying up money for a year.
True, with the private client / wellstrade deal you can just step away after the bonus pays out. Plus I was able to get the lower tier checking bonus too.
I closed my TradeUp account a couple of years ago, is it churnable?
I’m not positive if all these deals stack with referral links (but I appreciate the thought!)
“Clients who transfer assets from a brokerage account that was originally opened through TradeUP Securities, Inc. and now clears exclusively through Interactive Brokers are not eligible for this campaign.”
Messaged customer support over this line. Representative says this only applies to a subset of existing customers.
Strangely the set of terms accessed through the main website offer don’t list such a term. https://www.tradeup.com/activity/market/transfer-in-tup/#/terms
Appears to be only for taxable, individual accounts.
Do they allow IRAs and do they qualify for the promo? If so I might bite
Wondering the same on the IRA side
I found a faq that said no IRAs and no joint accounts
Bummer…oh well the bulk of my IRA funds are tied up at Robinhood for the next few years anyway.
This is the reply I got from their customer support.
“ thank you for contacting TradeUP! We do not currently offer retirement accounts, including IRAs. Thank you for your interest.”
Why does the image say 3%, if 2% is the max?
It’s theoretical 3%, I think. You get 2% on the $50k and 1% on the $100k. Sleight of hand. Ends up being 2%.
It’s 100% (of the first 2% of $50k)! No, 200% of the first 1% of $50k!
I don’t like the 1 year commitment :/
The way I read this, you don’t have to hold for 1 year if you just want to get the 2% bonus (capped at 1,000). It’s not clear to me, if you take the money out if you still can get the quarterly installments.
https://www.tradeup.com/activity/market/transfer-in-tup/#/terms
“1. How to Participate
Clients who make a full or partial ACATS transfer during the campaign period may be eligible for 2% cashback on the transferred amount.
This amount is determined by the closing value of the portfolio on the business day that the shares settle in the account. The cashback is capped at $1,000, and there is no minimum transfer amount needed to qualify. Cashback will be issued in installment payments, provided the client maintains the asset value in their account for a full 90 days following the settlement date.”
“3.5 Cashback Distribution: Cashback will be distributed quarterly, with payments made on the last business day of each fiscal quarter. The maximum cashback amount per quarter is $350. The distribution schedule follows below:
After the first 90 calendar days: Clients must maintain their account assets for a full 90 calendar days from the settlement date. The first cashback installment will be distributed at the end of the first full fiscal quarter after the 90 calendar day period. For example, if the settlement date is August 15, 2024, the first cashback installment will be distributed on December 31, 2024.Subsequent Quarters: Cashback will be distributed on the last business day of each subsequent fiscal quarter.For example, if a user completes an ACAT transfer of $50,000 and qualifies for a 2% cashback bonus, they will receive a total of $1,000. This amount will be distributed in installments of $350 for the first quarter, $350 for the second quarter, and $300 for the third quarter. If the transfer date is August 15, 2024, the first $350 installment will be distributed on December 31, 2024, with subsequent installments of $350 and $300 distributed on March 31, 2025 and June 30, 2025, respectively.”
In other words, the holding period is dependent on the amount of the bonus you earned