If you’re moving $1 million to a brokerage account, you can earn between $3,000 and $10,000 in free cash bonuses, depending on which broker you choose and the exact size of your transfer. Public offers the most generous deal for a straight million-dollar transfer with a $10,000 bonus (a 1% uncapped cash match), while E*TRADE, J.P. Morgan Self-Directed Investing, and TradeStation offer more modest bonuses in the $3,000 to $5,000 range.
For those with even larger portfolios, SoFi pushes the ceiling higher with up to $10,000 for transfers of $5 million or more. The key to understanding these bonuses is recognizing that brokers are competing intensely for large accounts in 2026, and they’re willing to pay for that business. However, the money isn’t free in the traditional sense—there are conditions, timelines, and sometimes hidden costs that can eat into your gain. Before you start transferring, you need to understand how much you’ll actually pocket after fees and holding requirements.
Table of Contents
- What Brokerage Bonuses Are You Actually Eligible For?
- The Holding Requirements That Matter
- Comparing Brokers Head-to-Head
- Is the Bonus Actually Worth the Hassle?
- Hidden Costs and the Fine Print
- Which Broker Should You Actually Choose?
- Where Brokerage Bonuses Are Heading in 2026 and Beyond
- Conclusion
What Brokerage Bonuses Are You Actually Eligible For?
The amount of bonus you receive depends almost entirely on the size of your transfer and which broker offers the promotion. With $1 million, you sit right at the threshold where bonuses jump significantly. E*TRADE and J.P. Morgan offer $3,000 if your transfer is between $1 million and $1.49 million, but jump to $5,000 if you can move $1.5 million to $1.99 million.
This means if you’re sitting just under $1.5 million, you might want to wait and accumulate a bit more before transferring, or consider splitting your transfer strategically across accounts to hit higher tiers. Public stands out because it offers a flat 1% uncapped cash match on transferred assets, meaning a $1 million transfer nets you $10,000—no tier limit. TradeStation offers up to $3,500 for account transfers, though the exact amount depends on the promotion currently running. For those with significantly larger portfolios—$5 million or more—SoFi’s offer of up to $10,000 becomes competitive, though that promotion comes with a specific deadline (June 10, 2026) and applies primarily to retirement portfolio transfers. The competitive landscape in 2026 has heated up compared to previous years, with brokers recognizing that large account holders can generate years of revenue through trading commissions and assets under management fees.
The Holding Requirements That Matter
Nearly every brokerage bonus comes with a catch: you can’t move your money right back out. Most brokers require you to keep your transferred assets in the account for 90 to 270 days before the bonus actually hits your account. This is the most important condition to understand because it locks up your money when you might otherwise want to rebalance or move to a different broker entirely. If you’re planning to use this as a short-term strategy—transfer the money, collect the bonus, and move on—you’ll need to wait at minimum three months, and often much longer.
This holding period is a real constraint, not just a technicality. If the market drops 15% in the three months you’re locked in, your $10,000 bonus becomes less impressive against your paper losses. Conversely, if the market rises, you’re locked in with whichever broker you chose, unable to act on market signals or take advantage of better opportunities elsewhere. The holding period effectively ties up your capital for a quarter of the year, so factor that opportunity cost into your decision.
Comparing Brokers Head-to-Head
When comparing bonuses on an equal footing, the hierarchy becomes clearer. Public offers $10,000 on a straight $1 million transfer with no complicated tiers to navigate. E*TRADE and J.P. Morgan both offer $3,000 for the same amount, but you’ll get $5,000 if you can increase your transfer to $1.5 million. TradeStation lands in the middle with up to $3,500.
If you’re thinking about quantity over time, SoFi’s offer of up to $10,000 matches Public’s maximum, but only if you’re moving $5 million or more, which is far outside the scope of the original question. The practical comparison shows that Public wins decisively for someone with exactly $1 million to move. However, if you already bank with J.P. Morgan or E*TRADE for other banking relationships, the convenience and integration benefits might offset the smaller bonus. Each broker also has different requirements around account types, trading minimums, and fee structures that extend beyond the bonus itself. A $3,000 bonus from a broker with lower ongoing costs might be worth more over five years than a $10,000 bonus from a higher-fee competitor.
Is the Bonus Actually Worth the Hassle?
Before you start the transfer process, calculate whether the bonus justifies the effort. You’ll be filling out transfer forms, waiting days or weeks for your old broker to send the assets, and sitting with whatever asset allocation your old broker had while you wait for the holding period to expire. For a $10,000 bonus, most people find this worthwhile. For a $3,000 bonus, especially if you’re planning to actively trade and would rather not be locked into a holding period, the payoff might feel thin. There’s also the question of transfer-out fees.
Your current broker may charge $75 to $150 to transfer your assets out of the account. Some brokers do reimburse these fees as part of their incentive package, but you’ll need to ask explicitly and confirm the reimbursement policy before you move your money. If your current broker charges $150 and the new broker doesn’t reimburse it, a $3,000 bonus becomes $2,850 in real terms. The math is still favorable, but less compelling. Factor in the three-month lockup period, and the annualized return on the bonus drops to something like 12% per year—which sounds good until you realize you can’t access your money and the stock market might move significantly in that time.
Hidden Costs and the Fine Print
The most dangerous aspect of brokerage bonuses is the fine print around disqualifying activities. Many brokers specify that the bonus is only paid if you don’t withdraw any of the transferred assets during the holding period. Some bonuses are voided if you close the account before the bonus payment date. A few promotions exclude certain types of accounts (like SEP IRAs) or require minimum trading activity, which can disqualify you if you’re moving money with the intention of buy-and-hold investing.
Another hidden cost is the opportunity cost of not being able to reposition your assets. If you transfer a portfolio that was built for your old broker’s research platform and fee structure, you might face tax inefficiency in reallocating it to match your new broker’s recommendations. Selling securities to rebalance triggers capital gains taxes, which can wipe out a meaningful portion of your bonus. The safest approach is to keep your asset allocation stable during the holding period, even if your new broker’s algorithm suggests a different mix.
Which Broker Should You Actually Choose?
Your choice should depend on whether you value bonus size, ongoing costs, research quality, or integration with your broader financial life. Public is the clear winner if you want the largest bonus with the fewest constraints—$10,000 for a $1 million transfer, minimal fine print, and a modern user experience that’s designed for self-directed investors. If you’re already a J.P. Morgan customer and value their wealth management integration with banking services, their $3,000 to $5,000 bonus might feel like a bonus on top of an already-strong ecosystem.
E*TRADE appeals to active traders who value their research tools and platform stability. TradeStation is built for active traders and day traders, so your choice depends on whether you fit that profile. If you’re simply looking to park $1 million and generate a return without trading frequently, you want the broker with the lowest annual fees and strongest passive investing options, which often tips the scales toward Public or a robo-advisor integration. The bonus is the candy, but the total cost of ownership over five years is the meal.
Where Brokerage Bonuses Are Heading in 2026 and Beyond
The escalation in brokerage bonuses during 2026 reflects the intense competition for large account holders. With interest rates stabilizing and market volatility creating uncertainty, brokers are using sign-up bonuses as a primary acquisition tool. This is good news for you in the short term—bonuses are higher than they’ve been in years. However, this trend typically reverses during market downturns or when brokers become less confident about their ability to generate revenue from new accounts.
If you’re thinking about moving money to a brokerage, there’s no better time than the current competitive environment. Promotions like Public’s $10,000 offer and SoFi’s generous retirement transfer bonuses suggest that brokers expect significant capital inflows throughout 2026. Locking in these bonuses now means you’re getting paid during a period of maximum competition. By 2027 or 2028, if market conditions shift or brokers consolidate, these offers will likely shrink—so moving now captures a fleeting window of generous incentives.
Conclusion
The answer to “how much free money” you get for moving $1 million to a brokerage is between $3,000 and $10,000, depending on the broker and exact transfer size. Public offers the highest single-transfer bonus at $10,000, while E*TRADE and J.P. Morgan offer $3,000 to $5,000 depending on whether you can reach $1.5 million. The real cost of these bonuses includes a 90 to 270-day holding period, transfer-out fees that can run $75 to $150, and the opportunity cost of not being able to reposition your portfolio during a potentially volatile three-month window.
Before you move, confirm the exact bonus amount for your transfer size, ask about fee reimbursement, and verify the holding period and any disqualifying activities. Compare the total cost of ownership across brokers, not just the bonus. If Public’s $10,000 offer meets your needs and you’re comfortable with their platform, the math is straightforward. If you’re torn between a $10,000 and a $3,000 bonus, the difference might come down to ongoing costs and user experience rather than the upfront incentive. The 2026 bonus environment is competitive and generous—take advantage while these offers are available.
