Referrer Receives $200, Referee Gets 1 Free Share of IKBR Stock for Every $100 Deposited @ Interactive Brokers

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PopCounty on 06/12/2020 - 01:07 interactivebrokers.com (327 clicks)
Last edited 06/12/2020 - 09:40 by 1 other user

Interactive Broker is trading platform where you can trade in many currencies. I have recently started using for US stocks (thanks to OzB fella). Less fees.

However, they have $200 referral bonus in case you refer. Does not mention about putting any trade by ur friend for you to be eligible for $200. Just opening of account shd suffice needs.

Do use OzB members referral code from here and help support community get benefited. Unless you are married and want to refer your other half 😉

Feel free to report it for forums if you feel so. But $200 seems pretty neat to claim so worth being a bargain?

——-
To participate in the Trader Referral Program

Click Manage Account > Trader Referral.
Enter the first name, last name and email address of the person to whom you want to send an invitation to open an account with us.
Click Submit.
Repeat these steps for each person you want to refer.
You will receive a bonus based on the payout rules listed above.
——

Edit- The IBKR app doesn’t say anything like having minimum deposited $10K or alike. Exercise due caution to decide it’s worthy deal or not.

From App:

——-
* By clicking one of the actions above, you acknowledge and agree that.

• You will not have any involvement with a referred client's I BKR account after the initial referral.

Specifically, you agree not to do any of the following:

help set up the referred client's account;

train referred clients to use IBKR's trading platform, solicit or place orders or have any other ongoing involvement in the referred client's trading of their IBKR account;

act as financial advisor or hold power of attorney or discretionary trading authority over a referred client's account;

act as a point of contact between the referred client and IBKR; or

distribute advertising or marketing materials about IBKR without IB's written consent.

• You will not hold yourself out as an employee or agent of IBKR.

• You will be paid a flat fee Payout of $200 per eligible referral and may refer up to 15 friends or family in a year or 30 total.

• Payouts are limited to one payment per person or entity that opens an account, regardless of how many accounts they open.

• You are not a resident of Spain or Japan and understand that you will not receive a Payout for referring clients who are domiciled in Spain or
Japan or other ineligible countries.

The Payout terms above are the ones in place now, and we expect them to continue. However, IB may change the terms of legal or commercial reasons and the terms of this program shall be specified on the IB. IBKR may alter these policies at any time by amending the IB website

Related Stores

Interactive Brokers Australia

• 

  swimmingtoad on 06/12/2020 - 01:14

  +2

  Just to confirm, the person opening the account gets no bonus? Where's the bargain?

  • 

    Lps on 06/12/2020 - 07:53

    There are new rules coming into effect around March 2021 prohibiting brokers of this kind of bait marketing BS. Too many novice traders losing too much money.

• 

  NFC on 06/12/2020 - 01:16

  +15

  "Each referred client must open an IB account using the invite link and maintain a balance of at least $10,000 USD for one year"

  The first payment of $100.00 will be sent when the referred account reaches $333.34 in commissions.
  The second payment of $100.00 will be sent when the referred account reaches $666.67 in commissions.

  • 

    PopCounty on 06/12/2020 - 01:34

    +1

    Fair enough.
    I had this offer via app. But before posting here wanted to make sure it’s generic so searched over internet. Must say I missed these 10k details here on internet but there is no mention of 10K or whatsoever within app.

    Here’s the text within IKBR app which does not talk about anything like that.

    ——-
    * By clicking one of the actions above, you acknowledge and agree that.

    • You will not have any involvement with a referred client's I BKR account after the initial referral.

    Specifically, you agree not to do any of the following:

    • help set up the referred client's account;

    • train referred clients to use IBKR's trading platform, solicit or place orders or have any other ongoing involvement in the referred client's trading of their IBKR account;

    • act as financial advisor or hold power of attorney or discretionary trading authority over a referred client's account;

    • act as a point of contact between the referred client and IBKR; or

    • distribute advertising or marketing materials about IBKR without IB's written consent.

    • You will not hold yourself out as an employee or agent of IBKR.

    • You will be paid a flat fee Payout of $200 per eligible referral and may refer up to 15 friends or family in a year or 30 total.

    • Payouts are limited to one payment per person or entity that opens an account, regardless of how many accounts they open.

    • You are not a resident of Spain or Japan and understand that you will not receive a Payout for referring clients who are domiciled in Spain or
    Japan or other ineligible countries.

    The Payout terms above are the ones in place now, and we expect them to continue. However, IB may change the terms of legal or commercial reasons and the terms of this program shall be specified on the IB. IBKR may alter these policies at any time by amending the IB website

    —-

• 

  gamemaster on 06/12/2020 - 01:19

  +7

  So is this a pyramid or a trapezoid scheme?

  • 

    PopCounty on 06/12/2020 - 01:37

    See comment above. Seems app offer says something which is latest. Whereas the web based is not. Nonetheless not good deal if, yeah, 10k is required.

    May help someone still who already has IKBR account t and can confirm via app.

    • 

      gamemaster on 06/12/2020 - 01:41

      +1

      My issue is there is no bargain for someone signing up. This only benefits the 7 people (At the time of posting) who have entered a referral code. Not really a deal if it doesn’t benefit the person creating an account.

      Secondly the conditions of having to keep $10K USD balance for a year and commissions amounts as stated on the website makes it very unlikely to receive any payment.

      • 

        PopCounty on 06/12/2020 - 01:50

        +1

        Really? I thought it’s OzBargain where ppl go crazy to save 30 cents on Aldi Bread.

        So for $200 seems obvious that ppl can create account and refer the other half or mum or dad to get $200 each time.

        Agreed, $10k is no deal anyway.

        • 

          gamemaster on 06/12/2020 - 01:55

          +1

          @PopCounty: From the website

          Note: You cannot refer members of your own household.

          • 

            PopCounty on 06/12/2020 - 01:59

            @gamemaster: Well, the App does not say anything like that. This link I googled just to confirm if generic or targeted. There is possibility that the may have changed terms. Anyway, would take this as mixed deal.

            Hope it could be deleted if creating confusion.

        • 

          itshammer on 06/12/2020 - 07:00

          @PopCounty: You need to maintain $10k balance.

          So if you put that $10k into commsec, bought shares in any bank in a years time it would be up over $200 almost certainly

          Or buy Telstra and get the dividend, I think they are yielding more than 2%

• 

  jv on 06/12/2020 - 01:48

  +2

  This site is for Bargains…

  Please post on OzReferral…

  • 

    PopCounty on 06/12/2020 - 01:52

    +1

    Sure enough. I did mention to put it in forum if it may deem fit. And really thought ppl can tweak things to refer someone they know in second attempt. $200 is sure hell of bargain here in that case.

    Now, show me the bargains we have been waiting for.

    • 

      jv on 06/12/2020 - 01:56

      $200 is sure hell of bargain here in that case.

      Doubt you'll ever get it…

  • 

    Kyx on 06/12/2020 - 07:14

    +2

    Not a bargain.

• 

  whooah1979 on 06/12/2020 - 08:17

  Refer 30 people and split the 30x $200 with each person. It's a win win.

• 

  bgazer on 06/12/2020 - 09:12

  With IB stock currently trading at $55.07 US this is a great deal for the referee. 
  Not so great a deal for the referrer, especially if the referee will be trading overseas stocks, given IB's low commissions.
  One will have to do a lot of trading to rake up 666.67 in commissions with IB.

  Edit
  Just checked and see that "Referred clients are limited to a maximum of $1,000 in IBKR stock."
  For a moment there I was thinking that this would be a gold mine for a new account holder making a large deposit.
  Still a great deal though for new account holders.

  • 

    Yub on 06/12/2020 - 09:51

    So if my maths is correct, the refferee deposits around 1800 usd and get roughly 1000 usd of stocks for free?
    Sounds like a great deal.

    • 

      bgazer on 06/12/2020 - 09:59

      The 10k min deposit for a year may also apply to the referee getting the stock, not sure.
      Even at 10k it's still a great return though of 10%.

      • 

        Yub on 06/12/2020 - 10:04

        +1

        If I'm looking at the correct terms, it looks like $1 worth of shares for they $100 deposit. To get the max of $1000 shares you would need to deposit $100000. That's not great unless you were going to do it regardless.

        Subject to the terms and conditions described below, the owner of the Referred Account will receive $1 worth of Class A common stock of Interactive Brokers Group, Inc. ("Shares") for each $100 (or its equivalent in another currency) in net deposits of cash or other assets to the Referred Account during the first year following the date of the first deposit into the Referred Account ("Award Period"). The maximum "Net Value Awarded" you may receive is $1,000 in Shares (see Net Value Awarded defined belo

        • 

          bgazer on 06/12/2020 - 18:31

          @Yub: You're right.

          I was going off the OP of "1 Free Share of IKBR stock for every $100 deposited".

          It's great for one intending to place a large deposit with IB. With 100K deposit, there will also be no monthly $10 inactivity fee. 
          IB is by far light years ahead of any other broker I've come across. I also have a Charles Schwab account and whilst there are no commissions, the market data, charting etc is no better than what I'd get from Marketwatch.com, and you only get access to the US.

          25AUD pm with IB gets you a constant stream of live ASX data, good charting and a most configurable (mosaic) platform.
          Access to live NYSE and NASDAQ data is about 1.50US each pm, and Nikkei which I've been finding much more value in, market data fee is around 380 yen pm (of course, free 20 min delayed data is available for those that don't need R/T data). Nikkei also opens around 11.am our time so I don't have to stay up half the night waiting for the US to open at 1.30 am (11.30 pm when our DST ends and theirs starts). Also, currency transactions are at spreads one won't find elsewhere as a retail trader.

• 

  FuRyZ on 06/12/2020 - 10:24

  +2

  Referral bonuses are not bargains in my opinion. Especially given the terms that you need to maintain such a high balance amount for a year.

  The fact the app and the website don't even have the same terms either is a big red flag. Sounds like the operators are disorganised at best, scammers at worst.

• 

  lufaha on 28/12/2020 - 20:58

  I believe this is a really good deal for both, the referrer and person being referred, provided that they see value in switching to Interactive Brokers anyway:
  - Referrer: Getting 200 USD is obviously a good deal.
  - Referred person: Getting 1% of your deposit in IB Stocks is great and essentially means a 1% return from the start (up to 1000 USD provided you deposit an equivalent of 100,000 USD). Interactive Brokers is one of the best Brokers out there with the lowest fees (1 USD when trading on US markets) in the industry and particularly useful, when moving overseas, as it allows you to deposit currency from oversea accounts and exchange the money at current rates WITHOUT markups.

  However, I just want to bring up the main fees at Interactive Brokers to your attention:
  If your account value is less than 100,000 USD, there is a minimal monthly fee of 10 USD. This means if you buy stocks in the US and are charged 1 USD per trade for 3 trades in a given calendar month, you will be charged 7 USD at the end of the month (to reach the minimum of 10 USD). If your trading incurs fees larger than 10 USD, you are not charged additionally.
  => If you are doing longterm buy & hold AND have less than 100,000 USD total account value, you pay effectively 120 USD per year in fees.

  In my opinion is still amazing and the extremely low trading fees on US markets plus excellent exchange rates more than compensates the fees of 120 USD per year, but everybody should judge for themselves.

  • 

    hanofee on 09/01/2021 - 11:35

    ASX is $5 right? If we trade both, easier to fulfill the $10/month thing

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  hanofee on 09/01/2021 - 11:33

  Anyone with trust account can help where to find referral code/link? Seems the menu is a bit different than individual account