If you are an investor and looking to earn some extra United miles then here is an option to consider. Those of you who are not familiar with trading may want to just sit this one out. Many of the miles for new brokerage account offers involve very large deposit requirements which put the miles out of reach of your average people like me making this offer a little more intriguing.
OptionsHouse online brokerage is offering 10,000 United MileagPlus miles to new customers who open a new account and place 10 trades. It goes without saying that investing comes with risk so I am not going to tell what you should or shouldn’t buy but keep in mind there is not a minimum order size nor are you required to hold the stocks for a set amount of time before you can sell them. This should not be considered investment advice.
OptionsHouse charges $4.75 per trade for stocks priced at least $2 per share or more. In order to receive the 10,000 miles you will need to complete 10 trades within 90 days of opening your account. At that rate you are essentially buying 10,000 United miles for $47.50 or .475 cents per mile which is a pretty good price. If you are trading stocks already then this may not really cost you anything additional depending on how much you are currently paying per trade.
There are a couple of things to keep in mind:
- You must fund your account with a minimum of $5,000
- You must complete 10 commissionable trades w/in 90 days
- OptionsHouse may charge you the fair market value of the miles if you close your account and/or withdraw your balance below minimum funding level w/in 180 days
- Only individual or joint OptionsHouse accounts (non-retirement), personal trust accounts, & business accounts are eligible
- Valid until December 31, 2014
I should also mention that being a brokerage account they will be required to file a 1099 if the value of the miles earned exceeds $600. I have no idea what OptionsHouse puts the value of the miles at but I can’t imagine it would be anywhere near enough to trigger a 1099.
Here are the terms and conditions of the offer so please read them completely before considering this promotion:
(1) The 10,000 United MileagePlus miles promotion applies only to newly funded OptionsHouse customers who initially fund their account within 30 days of completing the application. To be eligible for the 10,000 United MileagePlus miles, you must satisfy both of the following requirements: (1) Fund a new OptionsHouse account with a minimum of $5,000 for a cash or margin account using promo code UNITED10K; (2) Make 10 commissionable trades within 90 days after funding your new OptionsHouse account. Note: Commission-free trades do not qualify toward the 10 trades. Fulfillment of the 10,000 United MileagePlus miles will occur within 6-8 weeks once both requirements are fully satisfied. Limit one promotion per household please. This promotion may not be combined with other offers and additional restrictions may apply. Only individual or joint OptionsHouse accounts, personal trust accounts, and business accounts are eligible. The promotion is not available for retirement accounts including, among others, IRA, Roth IRA, SEP, and SIMPLE accounts; 401(k) and 403(b) workplace retirement plans; UTMAs and UGMAs; fiduciary accounts (including custodial accounts, estate accounts); college investment trust accounts; and 529 college savings plan accounts. OptionsHouse reserves the right to restrict or revoke this offer at any time. This is not an offer or solicitation in any jurisdiction where we are not authorized to do business. Taxes related to OptionsHouse offers are your responsibility. Retail values totaling $600 or more during the calendar year will be included in your consolidated Form 1099. OptionsHouse reserves the right to debit the fair market value of the promotional item from any account that has received the 10,000 United MileagePlus miles and has either closed their account or withdrawn assets below the minimum qualifying funding level within 180 days of original funding date. This promotion expires December 31, 2014.
Miles accrued, awards, and benefits issued are subject to change and are subject to the rules of the United MileagePlus program. Please allow 6-8 weeks after completed qualifying activity for bonus miles to post to your account. United may change the MileagePlus program including, but not limited to, rules, regulations, travel awards and special offers or terminate the MileagePlus program at any time and without notice. Bonus award miles, award miles and any other miles earned through non-flight activity do not count or qualify for Premier® status unless expressly stated otherwise. United and its subsidiaries, affiliates and agents are not responsible for any products and services of other participating companies and partners. Taxes and fees related to award travel are the responsibility of the member. The accumulation of mileage or Premier status or any other status does not entitle members to any vested rights with respect to the program. United and MileagePlus are registered service marks. For complete details about the MileagePlus program, go to www.united.com.