Terms and conditions

The Firstrade Free Stock Promotion is an incentive program from Firstrade to encourage new accounts to avail of our brokerage services. Participants in the program (known as “Participant/s”) will be eligible to receive two (2) free shares of stock after they successfully open and fund a new qualified U.S. domestic brokerage account (Individual, Joint or Custodial account) at Firstrade during the promotion period from 5/17 - 6/30/2022.

Accounts opened under the same social security number may only participate once for this type of “initial deposit” promotion. Firstrade reserves the right to disqualify accounts if their deposited funds are returned.

Free Stocks
a. Open an account, get 1 free stock - One free share of stock will be available to claim one business day after the account is approved. You don’t need to make a deposit to your account to get your first free stock.

b. Deposit $100 or more, get 1 additional free stock - During the promotion period, qualified new accounts who make an initial deposit of $100 or more within 30 days of account approval are eligible to claim 1 additional share of free stock. Deposit bonus stocks will be available to claim approximately 5 business days after the initial deposited amount has settled into client’s account.

The free stock offer will be invalid if the participant does not complete the account opening process within 30 days. Eligible accounts must claim the free stock within 60 days after the claim button is available. The free stock will be deposited to the account within approximately a week after the stock is claimed. The cash value of the free stock may not be withdrawn for 30 days after it is claimed.

The free stocks are selected randomly and determined by an algorithm. There is an approximately 98% chance of the free stock having a value of $3-$10, an approximately 1% chance of the free stock having a value of $10-$50, and an approximately 1% chance of the free stock having a value of $50-$200, based on the price of shares at the time of purchase. Free stocks are chosen from the most popular companies on Firstrade, based on the trading volume in the last quarter. When shares are purchased for this program, Firstrade only chooses shares of stocks that have a minimum market capitalization of $2.5 billion and which trade either on the NYSE-listed or NASDAQ-listed markets.

Neither receipt of a share of stock through this program nor identification of a particular security in communications related to this program constitutes a solicitation of the security or a recommendation to buy, sell, or hold the security. Firstrade does not provide investment advice and does not hereby recommend any security or transaction.

Account Transfer Fee Rebate
Clients who open a qualified new account and wish to transfer their account from another brokerage firm to Firstrade may participate in the Firstrade Free Stock Promotion and additionally qualify for a transfer fee rebate.

Taxes
Free Stocks: The cash value of the free stock at the time you received it may be reported as “Other Income” on a 1099-Misc form. Any gains or losses on the sale of the stock are reported as capital gains or losses. You can check the cost basis of each stock you get on your Positions page.

  Example
  You win a $10 stock and later sell it for $15 dollars:

  • The $10 stock gift will be reported as “Other Income.”
  • The $5 gain will be reported as capital gains.

Consult with your tax advisor about the appropriate tax treatment for this offer and any tax implications associated with any prizes received through this promotion. Firstrade does not take responsibility for any taxes related to this promotion.

Disclaimer
Firstrade reserves the right to change the offer terms or terminate the offer at any time without notice. The free stocks, when combined with the value of all other free stocks received in the same calendar year, may not exceed $500 per person. This offer is not transferable or valid in conjunction with certain other offers and is available to U.S. residents only. Employees, contractors, or persons similarly associated with Firstrade, members of their household, and employees of any securities regulatory organization or exchange are not eligible. Firstrade may decline requests to enroll in the offer at its discretion. Other restrictions may apply.

No participant may engage in any conduct that violates any law, contractual obligation, terms of use or constitutes harassing or unacceptable conduct, as determined by Firstrade in its sole discretion.

Firstrade reserves the right to conduct a similar or identical program in the future, which may be governed by the same or different rules. This is not an offer or solicitation in any jurisdiction where Firstrade is not authorized to conduct securities transactions.