Brokers

Brokers

Here is a list of every broker I’ve tested, including those that will round up reverse splits and those that do not. While I do earn money from affiliate links from some of these brokers, I only recommend those that I personally use to trade reverse splits, and I only link to the deal that gives YOU the best sign up rewards.

Quickly, though: DO NOT USE E-TRADE OR TD AMERITRADE! They charge a $38 fee for each reverse split.

Brokers That Round Up

I’ve put them in order of order of best rewards for the least effort. Deals change often, and if you see a broker offering a different deal than I’m showing, let me know and I’ll update immediately.

Minimum Investment: $0
Rewards: 1 free stocks worth $2.50–$250 immediately. Deposit $100 and get 1 more worth $8–$1600, no hold required.
Multiple Accounts: Yes, can have one cash and one margin account plus an IRA. Can also open a second account using a different phone or email address.
Time to process RS: 1–2 days.
OTCs: No.
Weird things: Orders of less than 100 shares are prohibited if stock is less than $1 per share. My workaround is to buy 100 shares then immediately sell 99 shares, leaving me with one share.
Minimum Investment: $0
Rewards: 1 free stock worth $3–$225, can sell after 3 days, no deposit needed.
Multiple Accounts: No.
Time to process RS: 2–3 days.
OTCs: No.
Weird things: None.
Minimum Investment: $0
Rewards: 1 fractional share worth up to $15, no deposit required.
Multiple Accounts: No
Time to process RS: 12–18 days.
OTCs: No.
Weird things: None.
Minimum Investment: $0
Rewards: 1 free stock worth $2–$200, no deposit required. 2 additional free stocks if you deposit $100, no hold required.
Multiple Accounts: Yes. Firstrade supports individual, joint, education, and IRA accounts. You cannot have two of the same type. 
Time to process RS: 1–2 days.
OTCs: Yes, must be over $0.10/share.
Weird things: I only get a commission if you deposit $500. Absolutely no pressure, but if you can I’d appreciate it!
Minimum Investment: $0
Rewards: 1 free stock worth $2–$200 when you deposit $25, no hold required.
Multiple Accounts: No.
Time to process RS: 1–2 days.
OTCs: No.
Weird things: None.
Minimum Investment: $0
Rewards: None currently, but check the site as they run short-term promotions every couple weeks and I might be slow to update.
Multiple Accounts: Yes, individual and IRA.
Time to process RS: 1–2 days.
OTCs: No.
Weird things: They share the profits from payment-for-order-flow, so expect to earn a couple cents here and there.
Minimum Investment: $0
Rewards: Get $20/month for 5 months when you deposit and hold $500.
Multiple Accounts: Yes. They allow multiple individual investment accounts. They also support IRAs, joint, custodian, and education accounts.
Time to process RS: 1–5 days.
OTCs: Yes.
Weird things: Their fee schedule lists a $20 fee for mandatory reorganizations, which technically should apply to reverse splits but I’ve never been charged. Choose a TS GO account — the TS Select account requires a $2000 minimum account balance.
Minimum Investment: $0
Rewards: Get 100 shares worth $200 total when you deposit $2000 and hold for 90 days.
Multiple Accounts: Yes.
Time to process RS: 1–2 days.
OTCs: No.
Weird things: None.
Minimum Investment: $0
Rewards: Free stock worth $50 when you deposit $1000. Can withdraw the $1000 immediately after.
Time to process RS: 1–2 days.
OTCs: No.
Weird things: None.
Minimum Investment: $0
Rewards: Get $50 when you deposit $10000 and hold for 300 days. Goes up from there.
Multiple Accounts: Yes. They allow individual, joint, and custodial taxable accounts, as well as Traditional, Roth, Rollover IRAs, and Coverdell accounts.
Time to process RS: 1–5 days.
OTCs: No.
Weird things: They charge a fee for trades where stock price is under $2. It ends up being equivalent to the cost of the single share, so a $0.80 share costs $0.80+$0.80 fee = $1.60.
Minimum Investment: $0
Rewards: Get $150 when you deposit $20000 and hold for 45 days and enroll in Preferred Rewards (free but requires Bank of America checking account).
Multiple Accounts: Yes.
Time to process RS: 10–15 days.
OTCs: No.
Weird things: None.
Minimum Investment: $0
Rewards: Get $100 when you deposit $25,000 and hold for 45 days. 
Multiple Accounts: Yes.
Time to process RS: 1–2 days.
OTCs: Yes.
Weird things: Schwab is consistently one of the fastest brokers at processing reverse splits.
Minimum Investment: $0
Rewards: None.
Multiple Accounts: Yes? [Looking into this.]
Time to process RS: 1–3 days.
OTCs: No.
Weird things: The branding is all over the place: technically it’s called YouInvest, sometimes they say JP Morgan, but the app is just the Chase app.
Minimum Investment: $0
Rewards: None.
Multiple Accounts: Yes.
Time to process RS: 5–10 days.
OTCs: Yes.
Weird things: They have been lagging about a month behind on rounding up reverse splits. I suspect they are busy with a surge of new accounts after the Gamestop drama. Hopefully they catch back up soon.
Minimum Investment: $0
Rewards: None.
Multiple Accounts: Yes.
Time to process RS: 5–10 days.
OTCs: Yes.
Weird things: None.
Minimum Investment: $0
Rewards: None.
Multiple Accounts: Yes.
Time to process RS: 2–3 days.
OTCs: No.
Weird things: Designed mostly for automated trading, but offers an basic app and website.
Minimum Investment: $0
Rewards: None.
Multiple Accounts: Yes.
Time to process RS: 2–3 days.
OTCs: No.
Weird things: They charge an inactivity fee if you have less than $2,000 or less than 2 trades per year. Trade twice per year and you’re fine. They don’t have an app, but you can trade through the website.
Minimum Investment: $0
Rewards: None.
Multiple Accounts: Yes.
Time to process RS: 2–3 days.
OTCs: No.
Weird things: They charge an inactivity fee if you have less than 2 trades per year or less than $10,000 of assets in your account. I only get a commission if you deposit $1000 and hold for 45 days. Absolutely no pressure, but if you can I’d appreciate it!

Brokers to Avoid

First, brokers that that should be avoided. Some won’t round up, others will but charge big fees to process reverse splits. They are:

  • E-Trade: $38 fee for each reverse split.
  • Interactive Brokers. Pays fractional shares, no round up.
  • M1 Finance: They have rounded up at least once, but you have to trade the day before as all trades execute by 9:30am unless you have M1 Plus ($125/year). They also have very few stocks listed, which is why I no longer use them.
  • Moomoo. No round up.
  • TD Ameritrade. $38 fee for each reverse split.
  • SogoTrade. $2.88 commission for each trade, unsure if they round up.
  • Stake. Gives equivalent fractional shares, no round up.
  • Tradeup. Pays cash-in-lieu, no round up.
  • Wellstrade. Charges inactivity fees, and not sure if they round up.