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The broker referral bonus playbook (read the fine print)
By James Brown · Published · Updated
TL;DR: Robinhood, Public, Webull and Coinbase all run referral or new-account bonus programs, but each comes with deposit, holding-period and eligibility rules. Read the official terms first, and remember bonuses can be taxable.
Free stock is real, but the terms matter. How the major invite programs work, straight from their own pages.
Disclosure: Some links on this page are affiliate/referral links. If you sign up through them, I may earn a commission or reward at no extra cost to you. Not financial advice. Investing involves risk, including loss of principal. Full disclosure.
Brokerages pay to acquire customers, and some of that money flows to you as referral rewards. Here's what each program says on its own official page (as of Oct 2026; offers change, so check before you rely on them):
- Robinhood: tiered stock rewards for the referrer. $50 at 1 referral, $150 at 3, $800 at 10, $4,000 at 50, $10,000 at 200, capped at $15,000/yr. The friend has to open an account, link funding and make a qualifying deposit. Open Robinhood
- Public: you and your friend each get $100 in a stock or ETF when the friend deposits at least $1,000. Open Public
- Webull: runs time-limited new-account promos (for example, fractional shares for a qualifying deposit held for a set number of days). See Webull's current offer
- Coinbase: sign up with this link and we can each get $20 in Bitcoin, after ID verification and a qualifying purchase (terms apply). Try Coinbase
Rule #1: never open an account just for a bonus you'd lose more than on fees, taxes or bad trades. Bonuses can be taxable income.