TradeUp Review, Plus $20 to Free Amazon Stock as Signup Bonus

TradeUp is a fairly new mobile application that offers zero-commission stock trading. It launched in early 2020, joining the recent boom in no-fee trading options. You can often get a signup bonus as well when you first join. Check out the terms of the latest bonus (updated continuously) for new customers and the TradeUp review below.

Sign Up Bonus

A new client who completes registration, account opening, or account funding during the campaign period (6/28-7/30) will receive rewards. You get $20 when you first open your account, and then you have a chance to get a free share of AMZN when you fund it.

Completes registration to receive free access to LV2 quotes for 30 days.
Open a Live Trading account will receive cash coupons worth $20 ($5 cash coupon x 4).
A client who makes a qualifying initial deposit may receive the following rewards:
- Initial deposit Reward ≥ $1,000: Cash coupons worth $50 ($10 cash coupon x 5)
- ≥$10,000: Cash coupons worth $100 ($10 cash coupon x 10)
- ≥$200,000: 1 share of AMZN

Offer Terms

Campaign Period: 28 June 2021, 12:00:00 — 30 July 2021, 23:59:59 EST
Up to 20 shares of AMZN will be gifted through this campaign. The first 20 clients to make qualifying initial deposits of $200,000 or above will each receive 1 share of AMZN. Remaining clients who make qualifying initial deposits of $200,000 or above will receive cash coupons worth $100 ($10 cash coupon x 10).
Account opening rewards will be issued to clients’ Rewards Center within 1 business day after the client opens a Live Trading account.
Deposit rewards will be issued to clients’ Rewards Center within 1 business day after the qualifying deposit is settled. ACH deposits settle in 1 business day.
Once rewards are issued, clients need to click “Claim” in [TradeUP-Me-Rewards Center] within 20 calendar days to activate the rewards. Rewards that have not been claimed after 20 calendar days will automatically become invalid.
A cash coupon is electronic coupon issued by TradeUP. It is valid for 30 calendar days after receipt. Each coupon can be redeemed for a cash rebate for one buy order, which must be completed within the validity period.

TradeUp Review

The TradeUp platform features real-time market updates and has a feature that allows you to spot market trends and make adjustments to your portfolio so you can stay on track with your investing goals. At first it was launched as an app only, but now TradeUp offers a desktop application as well. As a member of the Securities Investor Protection Corporation (SIPC), TradeUP will protect up to $500,000 of your account. It offers securities products and brokerage services through Marsco Investment Corporation.

One of TradeUp’s best features is its simplicity. You can trade stocks, ETFs and options. Simplicity also means that it lacks some of the features that you would find at TD Ameritrade and TradeStation. So it is best suited for newer investors.

Sign Up Process

TradeUP is simple to use and it only takes a few minutes to get started with the mobile trading platform. There are 2 ways to sign up for a Live Account — online or via the mobile app. To qualify for an account, you should be at least 18 years of age, have a valid Social Security number and be able to provide proof of a U.S. residential address. Not a U.S. citizen? You may still qualify for an investment account with TradeUP if you’re a legal permanent resident with a Green Card or resident alien.

Fees

TradeUp lets you to trade stocks and ETFs without paying any commissions or account maintenance fees. There are no account maintenance fees, even if you don’t initiate trades when you sign up.

However there are some fees that you should be aware of. There’s a transaction fee of $0.00002 applies to sell orders. You’ll also pay a FINRA trading activity fee of $0.00011. For options trading, there’s a commission fee of $0.65 per contract, and there’s a $1 minimum per order.

There are also some fees when transferring money. Outgoing wires cost $10 per transaction (the initial transaction is free for the month). You also pay $1 per ACH deposit/withdrawal (the initial transaction for the calendar month is free).

Guru’s Wrap-up

This new TradeUp signup bonus can earn you $20 and up to a free Amazon stock if you have $200K to deposit. You don’t need to actually invest the money that you deposit.

You can use my referral link to open an account, or use code 75TEDW. I receive one free stock as well when you sign up.