Review
Updated
Fact Checked
Ashley Maready
Charles Schwab likes to offer limited-time promotions to members and non-members. Below are its current promotions, including how much you could earn.
New Account Bonus: Earn $101 by opening a new Charles Schwab account through Schwab's "Starter Kit" promotion
Ratings Methodology
2024 Award Winner
2024 Award Winner
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4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Fees:
$0 stock, ETF, and Schwab Mutual Fund OneSource® trades
Account Minimum:
$0
How you earn it: Open a Charles Schwab account through the Starter Kit promotional page. Within 30 days of opening an account, fund it with $50.
How you qualify: First-time users must open a Schwab Individual Brokerage account through the "Starter Kit" promotional page. If you're already enrolled in another Schwab promotion, you're not eligible for this one.
Details: Charles Schwab deposits the $101 directly into your brokerage account. Charles Schwab automatically schedules the money to purchase fractional shares of the top five U.S. stocks by market cap. Once the deposit hits your account, you have a narrow window to cancel the order. If you cancel, the cash will remain in your account, and you can use it for whatever.
Offer expires: TBD.
Referral Bonus: Earn up to $1,000 by opening a Charles Schwab brokerage account using a referral code, then funding it
How you earn it: Have a friend who's a Schwab customer send you a referral code. Use the code when signing up for a new Charles Schwab brokerage account. Deposit at least $25,000 worth of cash or securities into your account within 45 days of opening.
How you qualify: Be a new Charles Schwab client -- current users aren't eligible. If you've already enrolled in another Charles Schwab promotion, you're not eligible for this one.
Details: The more you fund your account, the more you earn. Here's the breakdown:
| Deposit amount | Cash bonus reward |
|---|---|
| $25,000 to $49,999 | $100 |
| $50,00 to $99,999 | $300 |
| $100,000 to $499,999 | $500 |
| $500,000 or more | $1,000 |
Data source: Charles Schwab
Charles Schwab offers many types of brokerage accounts. The ones eligible for this promotion include individual taxable and retirement accounts, plus Schwab-managed accounts. It's worth contacting customer service and requesting Charles Schwab reimburse any transfer fees charged by your other brokers (typically $75 to $100 for outgoing transfers). According to current customers, Charles Schwab sometimes reimburses the cost upon request.
Offer expires: N/A.
What else should you know about Charles Schwab bonuses?
Brokers frequently update their promotions; consider checking for updates periodically. We track the latest Charles Schwab promotions here.
Are Charles Schwab promotions worth it?
If you have not enrolled in a Charles Schwab brokerage promotion, they're worth considering. All Charles Schwab brokerage promos are mutually exclusive.
New Account Bonus: The New Account bonus is worth considering if you have less than $50,000 to invest in your new Charles Schwab brokerage account. The $101 bonus is generous, especially considering you only need to fund the account with $50 to earn it.
Referral Bonus: Consider opting into the Schwab Referral Bonus if a friend is a Charles Schwab client, you have more than $25,000 to invest, and you like what Charles Schwab offers. It's an excellent all-around stock broker with features catered to beginner and experienced investors. Schwab doesn't provide cryptocurrency trades as of April 2024; other platforms are better suited to cryptocurrency trading.
Alternatives to Consider
We recommend comparing brokerage options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of our best trading platforms of 2024.
| Account | Fees | Account Minimum | |
|---|---|---|---|
|
Featured Offer
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
$0 for stocks, ETFs, and options; $5 monthly for Robinhood Gold | $0 | |
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$0 for stocks, $0 for options contracts | $0 | |
Rating image, 5.0 out of 5 stars.
5.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
$0 commission for online U.S. stock and ETF trades; trade fractional shares for as little as $1 | $0 |
FAQs
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You get your New Account Bonus one trading day after funding your account unless you deposit after 8:30 p.m. ET, in which case, you'll get your bonus in two trading days.
You get your Referral Bonus one to two weeks after your 45-day eligibility period ends.
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Once per eligible account. Bonuses are mutually exclusive; you can't double-dip.
Our Brokerages Experts
Cole Tretheway is a full-time personal finance writer whose articles have been featured on The Ascent and The Motley Fool. He has a degree in English with a Certificate in Professional and Technical Communication from California Polytechnic University, SLO.
Fact Checked
Ashley Maready
Ashley Maready is a former history museum professional who made the leap to digital content writing and editing in 2021. She has a BA in History and Philosophy from Hood College and an MA in Applied History from Shippensburg University. Ashley loves creating content for the public and learning new things so she can teach others, whether it's information about salt mining, canal mules, or personal finance.
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Charles Schwab is an advertising partner of The Ascent, a Motley Fool company. Cole Tretheway has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Charles Schwab. The Motley Fool recommends the following options: short March 2024 $65 puts on Charles Schwab. The Motley Fool has a disclosure policy.
Fidelity disclosure
Fractional share quantities can be entered out to 3 decimal places (.001) as long as the value of the order is at least $1.00. Dollar-based trades can be entered out to 2 decimal places (e.g. $250.00)
Robinhood disclosure
All investments involve risk and loss of principal is possible.
Securities are offered through Robinhood Financial LLC, member FINRA/SIPC. Cryptocurrency services are offered through an account with Robinhood Crypto, LLC (NMLS ID 1702840). Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Cryptocurrency held through Robinhood Crypto is not FDIC insured or SIPC protected. For more information see the Robinhood Crypto Risk Disclosure.
Trades of stocks, ETFs and options are commission-free at Robinhood Financial LLC. Other fees may apply. Please see Robinhood Financial’s Fee Schedule to learn more.
Fractional shares are illiquid outside of Robinhood and are not transferable. Not all securities available through Robinhood are eligible for fractional share orders. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see the Fractional Shares section of our Customer Agreement.
Robinhood Gold is an account offering premium services available for a $5 monthly fee. Not all investors will be eligible to trade on Margin. Margin investing involves the risk of greater investment losses. Additional interest charges may apply depending on the amount of margin used. Bigger Instant Deposits are only available if your Instant Deposits status is in good standing.