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The recent GameStop rally raised serious questions about brokerages that cost traders money by restricting trades.

The recent GameStop rally raised serious questions about brokerages that cost traders money by restricting trades. Popular trading app Robinhood, E*Trade, and TDAmeritrade all restricted trading of securities that were receiving massive demand from retail investors and squeezing hedge funds out of their shorts. Many investors are questioning the integrity of their brokerage now and are looking for alternatives.

These are the best brokerage account bonuses in February 2021, according to Bankrate.

Ally Invest

Investors opening an account with Ally Invest can earn up to $3,500 in a cash bonus if they open an account by March 31, 2021. Furthermore, Ally will reimburse your transfer fees from another brokerage, up to $150, contingent upon a transfer of at least $2,500 in assets.

To receive a cash bonus you must transfer at least $10,000, be a US resident, and be a new Ally customer.

Here are the tiers for bonuses:

  • To receive the $50 bonus, deposit or transfer $10,000-$24,999.
  • To receive the $200 bonus, deposit or transfer $25,000-$99,999.
  • To receive the $300 bonus, deposit or transfer $100,000-$249.999.
  • To receive the $600 bonus, deposit or transfer $250,000-$499,999.
  • To receive the $1,200 bonus, deposit or transfer $500,000-$999,999.
  • To receive the $2,500 bonus, deposit or transfer $1 million -$1,999,999.
  • To receive the $3,500 bonus, deposit or transfer $2 million or more.

Merril Edge

Investors opening an account with Merril Edge can earn up to a $900 cash bonus if they make a qualifying deposit within 45 days. This offer expires on April 15, 2021. To be eligible for the cash bonus you must deposit at least $20,000 into your new account, be enrolled in the Preferred Rewards program within 90 days of depositing, and maintain the balance for at least 90 days.

Here are the tiers for bonuses:

  • To receive the $150 cash reward, deposit $20,000 to $49,999.99.
  • To receive the $225 cash reward, deposit $50,000 to $99,999.99.
  • To receive the $375 cash reward, deposit $100,000 to $199,999.99.
  • To receive the $900 cash reward, deposit $200,000 or more.

Charles Schwab

Investors opening an account with Charles Schwab can earn up to a $500 cash bonus if they use a referral code from a current customer. New customers must make a qualifying deposit within 45 days to be eligible for the cash bonus.

Here are the tiers for bonuses:

  • To receive a $100 bonus, deposit $1,000-$24,999.
  • To receive a $200 bonus, deposit $25,000-$49,999.
  • To receive a $300 bonus, deposit $50,000-$99,999.
  • To receive a $500 bonus, deposit $100,000 or more.

TD Ameritrade

Investors opening an account with TD Ameritrade can earn up to a $2,500 cash bonus with a qualifying investment. TD Ameritrade offers the most upside in terms of cash bonuses but requires a larger initial deposit. Furthermore, TD Ameritrade was one of the brokerages that restricted trading of equities like GameStop late last week. You must maintain the deposit for at least 12 months to keep the bonus.

Here are the tiers for bonuses:

  • To receive a $350 bonus, deposit $250,000-$499,999.
  • To receive a $700 bonus, deposit $500,000-$999,999.
  • To receive a $1,500 bonus, deposit $1,000,000-$1,999,999.
  • To receive a $2,500 bonus, deposit $2,000,000 or more.

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