One of best ways to earn some extra pocket money is to take advantage of the sign up promotions and rewards offered by the various brokerages.
In this article, I wish to share what these 4 brokerages (WeBull, MooMoo, Tiger & Interactive Brokers) are offering so that you can have a good overview as well as decide whether you wish to sign up for any of them.
The current promotion is valid at this time of writing (April 2023) but may not be relevant if you are reading at a future date, so please check with the various brokerages and confirm on their rewards before signing up.
WeBull
WeBull’s sign up rewards is pretty easy to understand.
You basically download the app and sign up for an account. Once your account is approved, you fund any amount, e.g. $1, and you get 3 free spins. Each spin entitles you to a minimum USD10 to a max of USD100 worth of shares from the most valuable companies in the world (Tesla, Microsoft, Apple, Goolge).
If you keep your ($1) funding for a further 30 days, you will get another 2 free spins. So, in total, you get 5 spins, which means minimally you will at least receive USD50 worth of shares or at most USD500 worth of shares (if you are very lucky). It is not too bad when you only need to deposit just S$1 to earn S$67 (minimally).
The below article is a guide on how to get started if you are unsure.
Receive Free Money (USD30~USD500) When You Sign Up With WeBull Securities Platform (Fund ANY Amount)
The current promotion for WeBull ends on 28 April 23.
MooMoo
For MooMoo new account sign up, you will need to deposit more funds into your brokerage account but you will get a potentially higher guaranteed minimum amount. For MooMoo, you are able to link your bank account to your brokerage account and once you have done that. you will receive the following rewards when you fund your account.
Fund $100: Get $2 cashback daily for 10 days
Fund $2,000 & Perform 2 Buy Trades: Get 1 Coca-Cola stock worth around S$80
Fund $10,000 & Perform 7 Buy Trades: Get $108 cash coupon
So, if you are able to fund $10,000 into your account and perform 7 buy trades, you will get a total of S$208 worth cash coupons and shares (Coca-Cola).
Tiger Brokers
For Tiger Brokers, you will get rewards progressively as you open an account and fund it.
The rewards for opening account include 1 free GoPro stock (value at $5.5), zero-commission trades and 1 month of Ryde+ subscription (limited to first 9,000 eligible customers.
If you deposit $1000 and perform 5 new BUY trades, you will receive 0.88 HP fractional shares and attempt to spin and 1 share from the below list (worth $12 to $320).
If you deposit S$10,000 or more and perform 10 new Buy trades, you will get one free Apple share and this offer is limited to first 888 eligible clients.
So, if you are able to fund $10,000 in your account and perform 10 Buy trades, you will be getting free stocks from GoPro, HP and Apple, worth a total of S$236 {$5.5 (GoPro) + $12 (HP)+ $218 (Apple)}.
Interactive Brokers (IBRK)
For IBKR, the signup reward is pretty straightforward too and it is based on the amount funded into the account. For every $100 funded into the new account, you will receive $1 worth of IBKR share. The maximum guaranteed rewards is $1000 worth of IBRK shares, but you will need to fund $100,000 into your IBKR account.
Interactive Brokers (IBKR)’s share price is still steadily appreciating over the years, so it is still worthwhile to own it and wait for further price appreciation in the years to come.
Which Brokerage Is The Most Attractive To Me?
In terms of getting the rewards with minimum deposit, I think WeBull is the most attractive as you only need to fund $1 in exchange for a return between S$67 to S$675.
In the unlikely event where the brokerage collapses suddenly or runs into liquidity issue, you only lose $1. Also, WeBull does not require you to perform any trades before getting your rewards.
For the other brokerages, you can get a higher guaranteed minimum return if you are willing to deposit more money and perform the required buy trades. IBKR offers the highest sign up rewards but you must be able and are willing to fund $100,000 into your new account.
Concluding Thoughts
If you are just coming for the freebies and sign up rewards, and do not have any intention to use brokerage for long term use, then WeBull will be a good consideration. You can keep your shares in the brokerage and let them appreciate higher with time.
If you intend to use any of the brokerages after sign up, it will be good to look deeper into the tools, fees and features that each one of them can offer, beyond the sign up rewards.
I personally have been using IBRK for the past 2 years and I think they are on a league of their own. I have shared more about why I like IBKR in this article:
Which Platform Do I Use For Options Trading?
If you should need any referral links to sign up, you can use mine below.
WeBull: https://www.webull.com.sg/i/learnwithJason
MooMoo: https://j.moomoo.com/00x8LU
IBKR: https://tinyurl.com/pmj9fvra
I hope you find this sharing useful and can help you earn some extra pocket money with minimal efforts. Feel free to post any queries that you have in the comments. Cheers.
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Receive Free Money (USD30~USD500) When You Sign Up With WeBull Securities Platform (Fund ANY Amount)
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