Updated November 05, 2022
Firstrade is an online brokerage that offers $0 online trades and no hidden fees. It is currently giving away two free stocks to new users.
Firstrade Free Stocks (Up to $400)
May 17 through August 31, Firstrade is offering two free stocks if you sign up with our Firstrade Free Stock Link and deposit at least $100 into your account within 30 days of opening it.
Similar to the Webull promotion, here’s how getting free stocks from Firstrade works:
- Right after you open your brokerage account at Firstrade and your account is approved, you will get your first free stock valued between $2 and $200.
- Then, when you make your initial deposit of $100 or more to Firstrade within 30 days of opening your account, you will get your second free stock valued between $2 and $200. Firstrade says that
So if you open your Firstrade and deposit $100 immediately, you could be looking at earning a minimum of $4 in free stock and a maximum of $400 in free stock within a week!
Don’t Miss This: It’s very important that your initial deposit into Firstrade be for $100 or more. Depositing less than $100 through your initial deposit could cause you to not receive your second free stock. For example, if you deposit $60 today and $40 tomorrow, you may not qualify for the second free stock. So make sure you have at least $100 to make as your initial deposit to Firstrade within 30 days of opening your account and transfer it all at once.
Get 2 Free Stocks From Firstrade Now
What Stocks Does Firstrade Give Away?
Firstrade says that it chooses stocks to give away that have a market capitalization of at least $2.5 billion and that trade on either the New York Stock Exchange or on NASDAQ-listed markets.
What Are the Odds of Getting Expensive Stock?
The free stocks you receive are completely random and algorithmically determined.
Now, you have a 100% chance of receiving two free stocks from Firstrade if you open your account and make an initial deposit of $100 or more within 30 days.
However, your odds of receiving high-priced stock such as Apple, Boeing, or Advanced Micro Devices is 1 in 100. It’s far more likely you will receive a less expensive stock.
At the end of the day, you have a 98% chance of receiving a free stock valued between $3 and $10, a 1% chance of receiving a free stock valued between $10 and $50, and a 1% chance of receiving a free stock having a value between $50 and $200.
Related: Here are all the companies giving away free stocks right now.
Is Firstrade Free Stock Taxable?
Yes, as a CPA I can tell you that Firstrade free stock is taxable. You must report the value of the stock at the time you received it as “Other Income” on your tax return. This value becomes your basis in the stock, and if you sell the stock, you will realize capital gain or loss based on the difference between the selling price of the stock and the value of the stock at the time you received it.
Firstrade Referral Program
Once you open up your Firstrade account and receive your own free stock, you will be given your personal Firstrade referral code that you can give to others.
When someone who uses your link signs up for Firstrade, both of you will receive a free stock after their application is approved.
Other Free Stock Apps
There are many other online brokerages giving away free stock right now. See the full list in this article.
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