Introduction
Are you looking to start investing and searching for a brokerage firm to work with? If yes, you may want to check out Ally Invest. Ally Invest is a popular online brokerage firm that offers a user-friendly platform and low-cost trading fees. Additionally, Ally Invest offers several bonuses for new account holders, making it an attractive option for those looking to start investing. In this article, we’ll discuss everything you need to know about Ally Invest’s new account bonus.
What is Ally Invest’s New Account Bonus?
Ally Invest’s new account bonus is a promotion that offers cash bonuses to new account holders. The bonus amount varies based on the amount of money deposited into the account within a specific timeframe. The bonus is typically awarded within a few weeks of meeting the requirements.
How Much is the Bonus?
The amount of the bonus varies based on the deposited amount. For example, if you deposit $10,000, you may receive a $50 bonus. However, if you deposit $100,000, you may receive a $300 bonus. The bonus amount can change, so it’s best to check the Ally Invest website for the latest promotion details.
What Are the Requirements?
To receive the bonus, you must meet certain requirements. Typically, new account holders must deposit a specific amount of money within a specific timeframe. Additionally, the account must remain open for a specific amount of time. For example, you may need to deposit $10,000 within 60 days of opening the account and keep the account open for at least 90 days.
Advantages of Ally Invest’s New Account Bonus
Ally Invest’s new account bonus offers several advantages for new account holders. Here are a few:
1. Extra Cash
The most obvious advantage is the extra cash you’ll receive. Depending on the amount of money you deposit, the bonus can be a significant amount. This extra cash can be used to invest or save for a future goal.
2. Low-Cost Trading Fees
Ally Invest offers some of the lowest trading fees in the industry. The firm charges $0 for stock, ETF, and options trades. Additionally, the firm’s mutual fund fees are lower than the industry average.
3. User-Friendly Platform
Ally Invest’s platform is user-friendly and easy to use. The platform offers a range of tools and resources to help investors make informed decisions. Additionally, the platform is customizable, allowing investors to create a trading experience that works for them.
Disadvantages of Ally Invest’s New Account Bonus
While Ally Invest’s new account bonus offers several advantages, there are also a few disadvantages to consider. Here are a few:
1. High Deposit Requirement
The deposit requirement to receive the bonus can be high. For example, you may need to deposit $10,000 within 60 days of opening the account to receive the bonus. This requirement may be difficult for some investors to meet.
2. Short Bonus Period
The bonus period can be short. For example, you may need to keep the account open for at least 90 days to receive the bonus. If you close the account before the required time, you may not receive the bonus.
3. Limited Time Offer
The new account bonus is a limited time offer. The promotion can end at any time, so it’s important to take advantage of the offer while it’s available.
How to Open an Ally Invest Account
To open an Ally Invest account, follow these steps:
1. Visit the Ally Invest Website
Visit the Ally Invest website and click on the “Open an Account” button.
2. Choose an Account Type
Choose the account type you’d like to open. Ally Invest offers several account types, including individual, joint, and custodial accounts.
3. Complete the Application
Complete the application by providing your personal information, including your name, address, and Social Security number.
4. Fund Your Account
Fund your account by transferring money from your bank account. You can also rollover an existing retirement account or transfer an account from another brokerage firm.
Conclusion
Ally Invest’s new account bonus is an attractive promotion for new account holders. The bonus offers extra cash and several other advantages, including low-cost trading fees and a user-friendly platform. However, there are also a few disadvantages to consider, including a high deposit requirement and a short bonus period. If you’re interested in opening an Ally Invest account and taking advantage of the new account bonus, follow the steps outlined in this article.