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Best Bank Account Interest Rates - Summary for September 20, 2016$500 Brokerage Account Bonus at optionsXpress - Ends Today
POSTED ON BY Ken Tumin
I don't usually report on brokerage deals, but this seems to be too good to not report. However, there are a few potential issues with this promotion. I can't recommend this deal, but I wanted to at least point it out. Thanks to the reader who mentioned it in the comments. Here's the summary of the deal:
Open an optionsXpress account with promo code C3 by 11/30/08 with a minimum of $500 and receive a $500 bonus after 6 months. This is a brokerage account, and you must make at least one trade during the 6 month period and maintain an average balance of $500 during the period. $500 bonus is paid at the end of 6 months.
This is the last day of the offer. Here's the promotioin page. It appears that you only have to open it today, and you can fund it later.
I am confident that optionsExpress.com is a legitimate brokerage company.
Except for not receiving the bonus, I don't see many risks with this deal. There are many conservative ETF's that you can buy for the required trade, and it appears there are no unreasonable fees.
Open an optionsXpress account with promo code C3 by 11/30/08 with a minimum of $500 and receive a $500 bonus after 6 months. This is a brokerage account, and you must make at least one trade during the 6 month period and maintain an average balance of $500 during the period. $500 bonus is paid at the end of 6 months.
This is the last day of the offer. Here's the promotioin page. It appears that you only have to open it today, and you can fund it later.
I am confident that optionsExpress.com is a legitimate brokerage company.
- optionsXpress SEC page
- optionsXpress Yahoo profile
- They're listed in the SPIC's database
- It could potentially be targeted to specific customers. Note, if you search on Google for optionsXpress bonus, this promo comes up as sponsored ad. However, this ad seems to have been paid by an affiliate, not optionsXpress. You'll see an affiliate code in the landing page.
- In the small print: "Customers can not exchange the $500 for other offers, cash or credit." Will you be able to withdraw the $500 bonus or just use it for future trades?
- In the small print: "We reserve the right at our sole discretion, to cancel, modify or suspend this offer program at any time without notice."
- In the small print: "The $500 bonus will be deposited into the account on May 15th, 2009 if terms and conditions are met." May 15 is only 5.5 months from now.
Except for not receiving the bonus, I don't see many risks with this deal. There are many conservative ETF's that you can buy for the required trade, and it appears there are no unreasonable fees.
We were thrilled to see the excitement around our latest offer. We always look forward to welcoming new customers to optionsXpress. We also heard many questions from you regarding the rules of this offer, all offers have strings (rules) and so did this one. Here are the answers the most frequently asked questions:
• The account must be opened through the specified optionsXpress link, and we needed to receive all required information either electronically or the physical paperwork by 11/30/08.
• A per account average balance of $500 must be maintained for 6 months, and the account must trade at least once.
• If you are already a customer, you are not eligible for this offer (the terms excluded Qualified (IRA), linked and shared accounts).
• Once you receive the $500 you are free to do with it as you wish.
• You need to fund by December 15, 2008 to be eligible.
In order to be fair to everyone, we have to strictly adhere to these rules. For those of you who were interested in the offer, but did not respond in time, keep an eye out – we may do other offers in the future. Thanks for your interest in optionsXpress and I look forward to seeing what the markets may bring in 2009.
Ned Bennett
CEO, optionsXpress, Inc.
A few months ago this site had a post on it about a $500 bonus at Option Express if you opened an account and kept it open for 6 Months and made at least 1 trade. I met the requirements and on may 16 the $500 was deposited in my account without me having to ask for it. I made a few bucks on the trade and got 1 small dividend so it worked out great for me.