2 years ago
233 FinanceFeeds -
TradeStation has announced that new TradeStation Crypto customers will be awarded up to $2,500 in cash or a supported cryptocurrency after opening a TradeStation Crypto account.
The new offering reinforces the broker’s continued commitment to serve clients looking to gain exposure to the emerging asset class. The self-clearing online brokerage will continue to offer access to stocks, ETFs, options, and futures.
Cash or crypto reward based on the amount of customer deposit
TradeStation Crypto offers customers a $10 reward just for opening an account with them, but they can qualify for a higher tiered cash or crypto reward for funding their account, based on the amount of a qualifying deposit.
Existing TradeStation Securities customers who are not TradeStation Crypto customers and open a TradeStation Crypto account are also eligible for the initial $10 reward and tiered reward based on a qualifying deposit.
Individuals who open a new Self-Directed Individual Retirement Account (IRA) through TradeStation Crypto are also eligible for the rewards.
The Self-Directed IRA allows customers to hold and trade crypto in a tax-deferred account that provides exposure to crypto assets as well as the opportunity to earn interest on crypto assets held at TradeStation Crypto.ƚ
To qualify for the tiered reward, a new approved TradeStation Crypto customer must fund at one of the following deposit levels:
A Minimum Deposit of $5,000 will reap the reward of $200 in cash or crypto, while a customer with an amount of $10,000 gets $500. Higher figures give access to higher rewards. A minimum deposit of $100,000 will collect $1,000 USD or Crypto, and the maximum reward of $2,500 USD can only be achieved with a deposit of $1,000,000.
Eligible customers must make a qualifying deposit within 90 days of account approval to be eligible for a tiered bonus reward. This offer cannot be combined with any other offer or promotion, the broker stated.
John Bartleman, President and CEO of TradeStation Group, said: “We think customers, regardless of experience level, will enjoy our trading tools, crypto education resources and support services once they open their TradeStation Crypto account.
“Crypto continues to gain momentum as more traders and investors take interest in the asset class, and TradeStation can support them every step of the way as they work toward gaining a financial edge.”
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TradeStation going public in $1.43b deal that includes Galaxy Digital
TradeStation is an online broker that offers support to self-directed traders and investors by providing access to trading and analysis platforms and self-clearing online brokerage services for stocks, ETFs, equity and index options, commodity and financial futures, futures options, and cryptocurrencies.
The broker has recently announced it is going public via a SPAC deal worth $1.43 billion which is expected to close in the first half of 2022. TradeStation will be listed on the New York Stock Exchange.
Monex Group Inc, the parent company of TradeStation would continue to retain the equity that it has now and it is expected that it would hold 80% of TradeStation when the deal closes.
A total investment of $115 million with $50 million each coming from the Monex Group and Galaxy Digital LP would be made. The participation of Galaxy Digital, a giant within the crypto space, might be behind TradeStation’s marketing efforts to promote its crypto offering.
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