Etrade is running a promotion in which they will offer 100 commission free trades on stocks and options if you open an IRA account ( E*TRADE Securities Traditional, Roth, or Rollover IRAs). Etrade charges between $7.99 to $12.99 for trades so this has a potential value of $800 - $1,299. There are some significant catches though if you read through the fine print.
First, you must pay the commission upfront and Etrade will reimburse you for up to 100 trades by depositing the refund into your IRA account. Second, you must execute the 100 trades within 30 days of opening the account. This makes the offer most attractive to moderate or heavy traders who wouldn't mind funding their IRA account.
The offer is good through December 31, 2009.
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