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CD Early Withdrawal Penalty: Should You Pay It?$500 Brokerage Account Bonus at optionsXpress - Ends Today
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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.
