【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 review of U.S. stock trading platforms: which one is the strongest?
- 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 and their signup bonuses
| Overview | Signup Bonus | Quick Take |
|---|---|---|
| Moomoo (Futu) | Get $1,030 in stock +8.1% APY | Professional, no commissions, and free Level 2 market data. Good for both beginners and advanced users. Chinese-language customer service available. Requires SSN |
| TradeUp (Tiger Brokers) | 50 shares of NVDA + chance to win 5 shares + 4% for three months | No commissions, supports 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-for-stock promotions |
| BBAE | Up to $650 reward | 0 commission, 0 fees; Chinese-friendly, and you can open an account without SSN/ITIN |
| Robinhood | 1 free stock | No commissions, with an interest-bearing cash account. Simple interface that is beginner-friendly |
| Interactive Brokers | Up to $1,000 | Wide product coverage. Professional, comprehensive trading platform, and high cash interest rates. |
| 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-free withdrawals, and $0 stock commissions |
| Fidelity Brokerage Account | Sign-up link | Well-established brokerage, no trading fees, and TurboTax included |
| BIT (formerly Matrixport) | Deposit and trade to get $210 | Supports direct crypto deposits and withdrawals, no China CRS, and you can register directly with an ID card |
| SoFi Invest | Get $75 for opening an account | No commissions, supports Stock Bits |
| WealthFront | Manage up to $5,000 for free | Automated investing and wealth management |
| M1 Finance | Deposit funds and get $10 | No commissions, with automatic investing based on your portfolio |
If you do not have 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 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.
If you want to invest in U.S. stocks from mainland China, see this summary