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Fidelity Investments 200 Free Trades Offer
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If you have $100,000 in cash and/or eligible securities, you can take advantage of Fidelity’s 200 free trades offer. It’s not uncommon for brokers to offer free trades to entice you to transfer your funds, TradeKing has a $100 refer a friend offer and a $150 transfer reimbursement offer, and 200 seems to be a nice round number that has the “wow factor” they’re looking for. If you want to do a dollar comparison, Fidelity trades are $7.95 a piece so this offer has a potential value of $1590, if you were to use all the trades.
Some basic ground rules:
- The funds have to come from an external account, so you can’t transfer from another Fidelity account.
- The free trades must be used within 90 days.
- The offer ends June 31, 2011.
I personally prefer cash bonuses, but that’s because I don’t think I’ll be making 200 trades in 90 days. The trade-off between a cash bonus as a free trade bonus is that the cash is immediately reported on a 1099. With free trades, it’s not clear how the promotion is going to be reported to the IRS but at worst it’ll be the cash value of the free trades you actually use. I find it difficult to believe they’d 1099 you for $1590.
Some more terms & conditions:
This Free Trade offer is valid only to new Fidelity customers opening a Fidelity IRA or brokerage account. In order to receive 200 free trades, you must open and fund a new eligible account with at least $100,000 in cash and/or eligible securities.
This Free Trade offer is valid for non-retirement (Individual, Joint or Trust) or Fidelity IRA (Rollover IRA, Traditional IRA, Inherited IRA, Roth IRA, SEP-IRA) accounts in which individual security trading is not prohibited and which meet the minimum account opening or funding requirements for this offer. Offer not valid for non-U.S. residents, Stock Plan Services accounts, PAS accounts, clients of registered investment advisors working with Fidelity Investments, persons affiliated with FINRA, or employees of Fidelity, its affiliates, and members of their immediate families and households. Fidelity reserves the right to terminate this offer at any time. Additional exclusions, terms, and conditions apply, including trade limitations and minimum account balance requirements. Visit www.fidelity.com/200trades for complete Offer Rules.
(Photo: walkercleaveland)
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Not sure of the use unless you’re a day trader. That’s too many trades for most people to use in 90 days.
agreed, the free trades are great, but really? 2 trades a day? for 90 days? one would think there would be more value offered to most customers in another way. free trades for a year with a 200 cap?
They already have all the commission free ETFs one would want to set up a solid investment program. I guess Fidelity has done the research and figured 200 is the number to get people addicted to trading.
Take it from experience: nothing is free on Wall Street.
My business was built by raising people from the ashes who bought the internet garbage all the brokers pushed on the naive in the late 90s. When will people ever learn?
^ they will never learn, thus these non-stop offers… Day trading is beyond risky, it’s gambling. Indexing or ETF investments are much better routes! If anyone is interested in unlimited ETF trades, go with Vanguard. Individual stock picks will never beat the market if you’re not an insider, sorry but it’s true!
Day trading could be done with ETFs too.
Great bonus if you actually trade that often and have the assets to transfer in to qualify.
200 trades sounds like a ton, but you have to use them in 90 days. Thats why I’m not doing this deal.
Oh wait….its the fact that I don’t have 100k sitting around. Thats why I’m not doing this deal.
HA!
Strebkr – you gave me my laugh of the day!!
I’m glad I could give you a laugh.
i second that thought, well, about the joke, and about the 100k “sitting around.”
Discounts are not taxed as income. No one sends 1099′s for discounts. This is not the same as a bank giving you an iPod for opening a checking account (which does produce a 1099).
Yea I have to agree with Chuck. There is no way they would 1099 you for this.
They have to make income for their to be a 1099. The 1099 just shifts the income over to you.
i have found over the years, that i have been passing on some offers that perhaps i would have jumped on previously simply because i don’t want to deal with all the 1099′s.
Really, the 1099s are stopping you? Its ‘free’ money. I could understand if you don’t want to deal with the hassle of the program (10 debit cards, do this, do that, jump through this hoop), but really its the 1099s holding you up?