Charles Schwab Promotions for 2024

Charles Schwab & Co., Inc., more familiarly known to most as just Schwab, is one of the world’s leading financial institutions. The industry giant offers brokerage and retirement accounts, annuities, high-yield checking accounts, and much more.

Schwab also offers some great promotions from time to time, making them one to keep on your radar if you’re keen to cash in on a sign-up bonus.

Top Charles Schwab Promotions for 2024

Here are the latest Schwab Promotions for 2024:

1. Referral Promotion

Current Schwab customers with friends who want to start investing should consider directing them to Schwab. Your friend could earn a nice chunk of change just for opening a Schwab brokerage account.

  1. Find a contact: Find a contact who wants to sign up. This could be a friend, family member, coworker, neighbor, or teammate. Ideally, it’s someone that you trust with financial advice and that trusts you with the same.
  2. Send a link: Send your contact a referral link via email or SMS (you can get the link from your Schwab account).
  3. Have your friend sign up with Schwab: Have the friend sign up for a new account with Schwab. The friend should include your referral code when prompted.
  4. Receive up to $500: The individual can receive up to $500 for signing up. The money will be deposited roughly 30 days after opening and funding the account.

How the Bonus is Awarded:

This promotion has a catch — the person signing up must meet a qualifying net deposit. Here is a breakdown of the account bonuses and deposit amounts.

  • $100 Schwab referral bonus requires a minimum deposit of $25,000 to $49,999
  • $300 Schwab referral bonus requires a minimum deposit of $50,000 to $99,999
  • $500 Schwab referral bonus requires a minimum deposit of at least $100,000
  • $1,000 Schwab referral bonus requires a minimum deposit of at least $500,000 or more

Unfortunately, you, as the referrer, won’t receive a bonus award for signing your friend up. So, if you’re looking to benefit from this, you won’t.

However, if you aren’t a Schwab customer yet and are interested in becoming one, it might be worth asking your close network if they have a referral link.

2. Commission-Free Online Options Trades

Schwab’s other promotion for 2024 can enable customers to get 500 commission-free online options trades for two years.

  1. Enroll with Schwab: Start by opening an online brokerage account through Schwab. It should be noted that the company is also offering commission-free incentive options for retirement accounts (traditional IRAs, Roth IRAs, and Rollover IRAs), as well as checking accounts (individual and joint).
  2. Make a qualifying net deposit: Next, you’ll have to make a qualifying net deposit of at least $100,000 in cash or securities. If you don’t have this much money sitting in an account and don’t expect to have it soon, you won’t be able to access this promotion.
  3. Get Rewarded: Once you go through the account opening and funding process, you can earn up to 500 commission-free online options trades from Schwab. This offer is available to both new and existing Schwab clients. To receive the offer, you must make a qualifying net deposit in an eligible account within 45 days of enrolling.

Is Options Trading a Good Idea?

Disclaimer: Schwab’s options incentive should only be taken up by serious investors who know what they are doing. Options enable, but don’t require, buyers to purchase or sell assets at a certain price at specific times. This play is much riskier than stocks, and if you’re new to investing, staying away is advisable. Trading options as an inexperienced investor is an easy way to lose money.

3. Schwab One® – $101 Bonus

Schwab’s Starter Kit is for new investors, where they will invest $101 for you equally across the top 5 stocks in the S&P 500®. In addition, you will have access to educational resources to equip yourself for the world of investing better.

  • Enroll with Schwab: Become a client online and enroll for the Schwab Starter Kit. You must deposit $50 within the first 30 days of enrolling to qualify.
  • Access the Free Tools: Once enrolled, you will immediately access the free resources and educational tools to start learning Investing 101.
  • Get your Stock Slices: Once you fund the account with the $50, Schwab will deposit the $101 to your account and then place the order for your stock slices.

What is Schwab?

Schwab is the consumer-focused investing division of the Charles Schwab Corporation, which has $8.52 trillion in assets under management.

As a Schwab account holder, you can access various financial products through a centralized dashboard, including stocks, bonds, exchange-traded funds, mutual funds, and index funds.

The company also operates an online bank called Charles Schwab Bank, which offers a High-Yield Investor Checking Account, a High-Yield Investor Savings Account, and more.

Benefits of Using Schwab

Here are some of the top benefits of using Schwab.

  • Top-rated customer support: Not all investors are alike. Some investors prefer to work independently and make their own decisions, while others want the guidance and support of a dedicated advisor. Schwab offers both options, enabling investors to access the level of control and support they require.
  • Top-level retirement services: Aside from traditional brokerage services, Schwab provides an array of retirement-planning products. So, if you want to do an IRA rollover or start an employer-sponsored 401(k), you can do so through Schwab.
  • Reliability: Uptime and availability are critical for success when investing. The last thing you want to do is try to log in to make a timely trade, only to be denied access to your account. Schwab offers a robust platform that’s more or less guaranteed to work when needed.

Charles Schwab Promotion Alternatives


Robinhood is a trading platform and investing app that provides commission-free trading services for stocks, options, and cryptocurrencies.

If you sign up for a new account, Robinhood will credit your account free stock up to $200.

Simply sign up on the website, and you will be credited your stock amount within one week.


WeBull is a stock trading and investment platform that offers no commissions for stocks, EFT, and option trades.

When signing up with WeBull, they offer free stocks depending on the deposit amount.

If you sign up and deposit $500 to 24,999.99 and maintain the account amount for 30 days, WeBull will give you 20 free fractional shares, each valued between $3 to 3,000.

If you sign up and deposit $25,000 or more and maintain the account amount for 30 days, WeBull will give you 75 free fractional shares, each valued between $3 to 3,000.

M1 Finance

M1 Finance is an affordable robo-advisor for self-directed investors who want to invest, borrow, and bank within one app that offers zero commission or account fees.

They offer a transfer bonus of $250 to $20,000 when you transfer a brokerage account by March 31, 2024.

You can transfer your account online and see the breakdown of the stock bonus depending on the transfer amount.

Key Takeaways

Here are some key takeaways and considerations when shopping for an investment platform.

  • Availability is Crucial: Make sure that the vendor you select is committed to uptime and availability.
  • Customer Service is Key: You can approach their customer service department with just about any financial or technical question and receive a prompt and accurate answer.
  • Prioritize Security: Security is another benefit at Schwab, which even offers 100% coverage for any losses due to unauthorized activity.
  • Retail Brokerage Promotions are Overrated: Select a broker because you like the company and could envision yourself working with them for many years to come. Any extra promotions that come with it should be complementary.
  • Commission-Free Trades are Overrated: Commissions don’t amount to much. You may save a couple of bucks over the course of the year, but it’s not enough to move the needle significantly.

The Bottom Line

Schwab’s current promotions are better suited for experienced investors who don’t need a cash bonus incentive for signing up. This is not a place where you can expect to earn free stock, for example, that other providers might offer.

That said, Schwab is still an excellent financial broker. In fact, Schwab is consistently rated one of the best platforms on the market for its reasonable fees, powerful online platform, and abundance of investment tools and opportunities.

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