【May 2020 Update】Yesterday we just mentioned that after depositing $500 into Moomoo, we drew Tesla stock worth $790. Today we saw MSFT stock inside Firstrade, worth $181.57. Their reward is different from Moomoo's: you can enter to win high-value stocks simply by registering an account (no deposit required; with Moomoo, registration only gets you small-value stocks, and you need to deposit to enter for higher-value ones). Being able to win a stock worth $150+ is still pretty good. Please note that Firstrade accounts include U.S. accounts and international accounts; international account openings are not eligible for a bonus. In theory, U.S. accounts require a green card or U.S. citizenship. If you use a U.S. account to invite a friend to open an international account, you can still receive the refer bonus. Everyone is welcome to share your refer in the comments.

The winning odds are as follows:

  • 98% chance of the free stock being worth $3-$10
  • an approximately 1% chance of the free stock being worth $10-$50
  • an approximately 1% chance of the free stock being worth $50-$200
  • Rewards are limited to $500 total per user per calendar year.
Firstrade - Get Free Stocks offer is valid for existing qualified U.S. domestic accounts only (individual, joint and custodial accounts) who successfully refer a new qualified account. Both the referrer and the person referred (known as "referee") will be eligible for one share of stock. However, if the existing qualified account invites a non-qualified account (IRA & other U.S domestic account types), the referrer will still be entitled to claim the free stock, but the referee would not be qualified.

Now, registering for Firstrade (Firstrade) also comes with a bonus of one free stock.

Firstrade was founded in 1985 by its current Chinese-American director John Liu, and is headquartered in Flushing, New York City. In 2018, the company was a leading U.S. online broker offering commission-free trading and provides Simplified Chinese, Traditional Chinese, and English services. The author tried it out and overall felt it was pretty good. Readers who registered using our link are welcome to share your referral link or your experience in the comments below this update.

Stock Market Basics

Here are some popular U.S. stock brokerages and their account-opening bonuses:

Overview Sign-Up Bonus Quick Take
Moomoo $200 in stock vouchers + $1,000 in Anthropic stock + 8.1% APY Feature-rich with a strong Chinese-language experience. Its market data, Level 2 quotes, options, and cash management features are useful for everyone from beginners to active traders.
TradeUp 50 shares of NVDA + a chance to win 5 shares + 4% for three months Well suited to active trading, with competitive trading fees and margin rates for U.S. tax residents. It supports Web Trading and Level 2 quotes and offers Chinese-language customer service.
Webull 12 fractional shares + one month of Premium membership Strong charting and active-trading features, including technical indicators, options, and premarket and after-hours trading. A good fit for frequent traders.
BBAE Up to $650 in rewards Convenient for Chinese users to open an account; applications are accepted without an SSN or ITIN. It offers good Chinese-language support, but currently charges a platform fee, making it less suitable for frequent trading with small amounts.
Robinhood A chance to win 1 share of stock Its simple interface is easy to use, making it suitable for first-time U.S. stock investors. Gold members also get a higher yield on uninvested cash and lower margin rates.
Interactive Brokers Up to $1,000 A highly capable broker with access to global markets and multiple currencies. Its margin costs are competitive, and Chinese residents can also open accounts. A good fit for experienced investors and those investing globally.
TradeStation $250 Geared toward professional and active traders, with powerful advanced charting, strategy backtesting, and automated trading tools. Most long-term investors may not need these features.
Schwab Up to $1,000 Well suited to long-term investing and larger portfolios, with convenient access to ETFs and CDs. Checking accounts and global ATM access are also advantages, but the default yield on uninvested cash is relatively low.
Fidelity Account opening link A long-established full-service brokerage suited to long-term investing, ETFs, and retirement accounts. It also offers good cash management, making it a solid choice as a primary long-term brokerage.
BIT (formerly Matrixport) Earn $210 by depositing and trading Suitable for Chinese users and digital asset investors. You can use funds such as USDT and USDC to invest in U.S. stocks. It is not a traditional U.S. brokerage, so review its fees and asset custody structure separately.
SoFi Invest $75 for opening an account Easy to use and supports Stock Bits, making it suitable for small investments and long-term investing. It has fewer advanced market data and trading tools, so it is not ideal for frequent trading.
M1 Finance Get $10 when you deposit Focused on Pies and automated investing. It is well suited to setting a stock and ETF allocation and investing regularly over the long term, but not to active trading.

If you don’t have an SSN or ITIN but still want to invest in U.S. stocks, consider the brokerages and platforms below. They accept a full set of Chinese documents, and you can register with a national ID card or passport. None participates in China’s CRS.

  • BBAE: Welcoming to Chinese users; no SSN or ITIN required to open an account
  • BIT (formerly Matrixport): Open an account with a national ID card; approval can take just a few hours.
  • Bitget: Complete identity verification with a national ID card or Chinese passport

If you’re in China and want to invest in U.S. stocks, see this overview: