In a down economy, the possibility of earning big cash bonuses without shelling out money of your own has proven to be difficult. Outside some of the best credit card deals, banks are becoming more stingy with their promo offers. But OptionsHouse has just launched a goody. From now until December 31st, 2012, anyone who opens or transfers an IRA to OptionsHouse is eligible to receive up to a $600 cash bonus.
The amount of the cash bonus you’ll receive depends on the size of your initial deposit. Cash bonus amounts are earned as follows (promo codes are automatically added in your application; but double-check to make sure it’s entered correctly):
- $25,000 IRA – $200 bonus : Promo Code ROLL200
- $50,000 IRA – $300 bonus : Promo Code ROLL300
- $100,000 IRA – $400 bonus : Promo Code ROLL400
- $250,000 IRA – $600 bonus : Promo Code ROLL600
All new accounts have 180 days to reach the required funding level, at which point the bonus will be deposited into your account. Executing a trade is not necessary to receive the bonus, and OptionsHouse ensures that on day 181, the cash will be in your account. When I opened up my OptionsHouse IRA, I received 60 days of free trading and have yet to be charged a penny for the trades I’ve made.
OptionsHouse offers a big variety of investment products to help consumers meet their retirement needs. Anyone can trade stocks, bonds, mutual funds, fixed-income products, and perform options strategies like covered calls, spreads and cash-secured puts. There are no fees to open or maintain an OptionsHouse IRA, and all stock trades are $3.95 a piece, which is one of the lowest you’ll find from an online discount broker.
I’ve owned an OptionsHouse IRA for a few months now. Even though the stock market hasn’t offered big gains, I’m very happy so far. I chose OptionsHouse because the trading platform was what I needed compared to other brokers. And trades are the cheapest. When you tack on the possibility of a $600 cash bonus, I’d highly suggest moving your current IRA over to OptionsHouse.
Published or updated April 16, 2013.