Opening a new investment account can earn you signup bonuses in 2023. Brokerages like Citi offer cash incentives for new customers to open accounts. By comparing bonuses and requirements, investors can earn extra returns. This article looks at tips to maximize investment account signup bonuses.
Common bonus types for investment accounts
Brokerages offer various bonus types to incentivize opening new accounts. Common bonuses include cash bonuses based on your deposit amount, free stocks or ETF shares, referral bonuses for bringing friends, and commission-free trading days. Citi provides a cash bonus for new checking and savings accounts. Other firms offer bonuses for IRA or taxable accounts.
How to qualify for account opening bonuses
To earn investment account signup bonuses, you must meet brokerage requirements like maintaining a minimum balance for several months. Always clarify bonus terms first since failing to meet them may forfeit the bonus. With Citi, you must make a qualifying direct deposit and keep funds on deposit for 60+ days. Understanding such conditions is key.
Maximizing returns from account bonuses
The best way to maximize returns is to open multiple accounts to earn multiple bonuses. However, don’t overextend your capital chasing bonuses. Estimate how much you can reasonably deposit and maintain. Prioritize the highest bonuses first, factoring in the effort required. Use bonus cash to reinvest and compound returns.
Opening new investment accounts with brokerages like Citi can earn signup bonuses in 2023 to boost your overall returns. Make sure to compare bonus amounts, qualify terms and maximize your capital efficiency.