Scottrade Promotion: Get Three Commission Free Trades

Scottrade is now running a referral promotion. From now to October 31st, Scottrade will give 7 commission free trades to both the referrer and referee when the referee opens a new account (no trade necessary). According to the T&C of the promotion, 3 free trades will be credited within 24 hours after the account is opened and the rest 4 trades will be available within 15 business days. Scottrade charges $7 for each equity trade, so the value of this bonus offer is $49, at the same level as promotions from TradeKing (expired) and Firstrade (ongoing) recently. There’s no mention of when the free trades will expire.

I reviewed the broker briefly before and have talked about their customer service and platform. Though not the cheapest broker, Scottrade is solid choice for investors don’t make a lot of trades (so the difference on commissions paid is small). If you want to have a Scottrade account, you can follow these simple steps:

• Go to Scottrade;
• Use Scottrade Promotional Code KGKP0724 to open an account;
• Receive 3 commission free stock trades.

Update: The number of free trades you can earn has been reduced to 3, a $21 value.