OptionsHouse Free iPad Mini Promotion

Online stock brokerage firm OptionsHouse has a promotion where new customers* can get a free iPad Mini (16gb WiFi model w/ Retina display, $399 value) if you satisfy the following requirements:

  • $10,000 minimum funding required
  • Must fund within 30 days of completing application
  • Must make 30 commissionable trades ($4.75 each)
  • Must complete those 30 trades within 90 days of account funding
  • IRA accounts are not eligible
  • Must not withdraw to below minimum funding level for 180 days (market fluctuations okay).

*You cannot have a current Optionshouse account or maintained an account with them during the last 30 days.

30 trades times $4.75 a trade is $142.50 in commissions. iPad Mini with Retina 16GB is $399 at Apple store and even $399+ on Amazon. According to the terms, retail values under $600 will not be including on your 1099 form. Seems like a good promo for a new iPad, especially if you’re looking to try out a new brokerage firm and need to make a number of trades anyway to establish your positions.


Get a free iPad Mini at OptionsHouse

Comments

  1. Hi Jonathan – I’m considering jumping on this deal, but just have a few questions… Would you trade the full $10k, or just a portion – I’m considering just doing about $2k of it in trades, and leaving the remaining $8k in there. Also, don’t you think they will claim that the “retail value” of the iPad mini is over $600, thus making me get dinged on taxes?? What are your thoughts? Love your blog and thanks!!

    • @Jason – You can trade however much or little you want, they just count the trades. Their own fine print says the value is $399, so I don’t think that will be a problem either.

      • @Jonathan & @Kevin – Awesome, thanks for the clarification. Seems like a pretty legit deal. Now I just have to find out how I’m going to make my stock divisions and what I’m going to buy ;)

  2. @Jason
    They don’t count include the value of the promotional item on your taxes (they didn’t 2 years ago when I got a kindle from them in a similar promotion). I believe the credit card companies lobbied for your “rewards” to not count as income and thus they are not taxed.

  3. Great deal on a iPad it seems to be a very long time since I have bought stock as apparently I used to pay $7 with Scott trade and now $5 seems very expensive. why does it cost so much to buy stocks?

  4. dave ford says:

    Does not make sense IRA account does not qualify for the IPAD offer–they will still make the same money off my account

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