As far as a deal goes, this appears to be a pretty stellar one. It’s orders of magnitude bigger than other investment account signup bonuses, and the restrictions associated with it are pretty reasonable (cannot withdraw funds for a year else bonus is forfeit). The company/platform I have had less exposure and experience with, but the part of a broader public investment group (trading in the UK under ticker IGG), purchased in 2021 for $1B provide at least some level of legitimacy. Worth trusting them with your life’s savings? Probably not for me.
The deal (link here)
We’ll add a 4% cash match, up to $10K total, on all qualifying deposits for the first 30 days after your initial deposit. That includes a 4% cash match equivalent for ACAT asset transfers, stablecoin deposits, and other non-cash deposits.
The terms
4% cash match arrives quickly, “about two weeks after your 30-day deposit window ends.”
Withdrawal of funds/assets is allowable after 12 months with no penalty, “You can withdraw your deposits at any time, but the entire 4% cash match and commission rebate will be removed if you no longer meet the requirements. The cash match and commission rebate can be withdrawn after the required 12-month period, but will be removed if you fall below the minimum funding requirement. “
Limit of $10,000 in matched funds ($250,000 total funded)
My take
This is an absolutely wild deal. It may be too good to not take advantage of, at least partly.
I sure do like free money. I’m thinking about moving one of my investment accounts over and getting ~$5k in matched funds, that account I don’t actively manage and I’d be fine letting it sit with existing investments for a year for a solid paycheck. I’m going to sleep on it over the weekend, though, and do additional research on the platform and business before I formally pull any trigger.
Obligatory gif
