【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 Investing Basics
- Introduction to the basics of U.S. stocks
- U.S. Stock Basics: What Are ETF/ETN and How to Buy and Invest in Them
- How to invest in Chinese concept stocks in the U.S.? (Using Moomoo as an example)
- How to invest in Hong Kong stocks from the U.S.
- Introduction to paper trading for U.S. stocks (2026 update)
- How beginners can pick U.S. stocks: a step-by-step guide!
- Side-by-side comparison of U.S. stock trading platforms: which one is the best?
- How to transfer stocks between investment platforms (ACATS)
- How should you file taxes on U.S. stock investing?
- Introduction to Chinese-owned brokerages in the U.S.
Below are a few commonly used U.S. stock brokerages, along with their signup bonuses.
| Overview | Signup Bonus | Quick Take |
|---|---|---|
| Moomoo | $1,030 in stock + 8.1% APY | Professional platform, no commissions, and free Level 2 market data. Good for both beginners and advanced traders. Chinese-language customer service available. Requires SSN. |
| TradeUp | 50 shares of NVDA + chance to win 5 more shares + 4% for three months | No commissions, supports both U.S. and Hong Kong stocks, and offers WebTrading. Chinese-language customer service available. Available globally. |
| Webull | $100 Amazon + 12 fractional shares + 1 month of Premium membership | No commissions, with frequent deposit bonuses that give free stock. |
| BBAE | Up to $650 bonus | 0 commission, 0 fees; Chinese-friendly, and you can open an account without an SSN/ITIN. |
| Robinhood | 1 free stock | No commissions, with an interest-bearing cash account option. Simple interface that works well for beginners. |
| Interactive Brokers | Up to $1,000 | Broad market access. Professional, comprehensive trading platform with high interest on cash balances. |
| TradeStation | $250 | Professional trading platform with a full set of supporting tools. |
| Schwab | Up to $1,000 | Professional and easy to use. Global ATM fee rebates and $0 stock commissions. |
| Fidelity Brokerage Account | Sign-up link | Well-established brokerage with no trading fees, plus TurboTax included. |
| BIT (formerly Matrixport) | $400 in stock | Supports direct crypto deposits and withdrawals, does not participate in China CRS, and allows registration directly with an ID card. |
| SoFi Invest | $75 for opening an account | No commissions and supports Stock Bits. |
| WealthFront | $5,000 managed free | Automated investing and wealth management. |
| M1 Finance | $10 for depositing funds | No commissions, with automatic investing based on your portfolio allocation. |
If you do not have an SSN/ITIN but still want to trade U.S. stocks, take a look at the brokerages/platforms below. All of them allow registration using a full set of Chinese documents, and you can sign up with just an ID card or passport. None of them participate in China CRS.
- BBAE: Chinese-friendly; you can open an account without an SSN/ITIN.
- BIT (formerly Matrixport): You can open an account with just an ID card, and approval can be completed within a few hours.
- Bitget: Identity verification can be completed with an ID card/Chinese passport.