Tornado Trading App Review, Plus $10 to $1K Signup Bonus
Nvstr has rebranded as Tornado, a modern web and mobile brokerage and community for investors at any level. The rebrand and newly launched Tornado website and mobile app include new and expanded technology features. The main feature that sets Tornado apart from other app is that it combines investing tools with hyper-tailored investing news and discussion. The promise is that the more you engage, the better it is, no matter at what level you get started. But unlike other free apps, Tornado costs $4.99 a month or $4.50 per trade if you don’t pay monthly. If you want to sign up and check it out, you will earn $10 to $1,000 in cash to invest. Let’s see how this bonus works, and then we’ll get into the Tornado trading app review.
Signup Bonus
Sign up for Tornado and start investing now. You will earn cash when you make your first trade. An $10 sign up bonus is guaranteed but you also have the chance to get:
- $20 (1 in 20 chance)
- $500 (1 in 2,500 chance)
- $1,000 (1 in 5,000 chance)
You can join the Tornado community here or by downloading the Tornado app from the Apple App Store or Google Play Store and use code 1333181AA7. There’s also a new “Earn and Earn” program where you can easily get up to an additional $50 to invest.
Offer Terms
- Bonus cash in deposited into your Tornado brokerage account.
- Must place a trade within a month to keep your sign up reward.
- Must link a valid bank account to receive rewards.
- Limit $1,000 per person.
Tornado Trading App Review
The Tornado investing platform is powered with machine-learning algorithms and a patented technology to personalize and optimize content for each user. Data is stored with highly secure 256-bit AES encryption.
Tornado’s features include:
- Community:Unlike traditional and other online brokerages that typically provide only individual portfolio information, Tornado is a social investing platform where investors build a network of trusted sources, see what stocks their connections hold and track stocks that are trending in the community. Users can also monitor personal portfolio performance versus connections in their network, the broader Tornado community and relative to market indices.
- Curated Content and Education:Tornado curates, vets and filters investment content from a wide range of investors with deep experience across Wall Street. Unbiased pro/con stock commentary, audio and Q&A discussions with leading voices provide a personalized framework to advance financial education for investors of any level.
- Access to World Class Analytical Tools:Tornado provides users access to data, insights, analysis and portfolio optimization tools typically only available to professional Wall Street investors.
You can use your Tornado account to buy and sell stocks, ETFs, or ADRs that are listed on the New York Stock Exchange. Some foreign companies are restricted, but you can buy most tickers traded on Nasdaq and the NY Stock Exchange. While you can’t trade call options, you can sell short stocks.
Tornado has a one-click portfolio optimization feature which is an automated robo-advisor, but with individual stocks or ETFs. Tornado uses Modern Portfolio Theory to generate a model portfolio. When you join, Tornado has you fill out a questionnaire to determine your investment preferences. This information is used to help find stocks to diversify your portfolio that match your risk tolerance. If you approve the model portfolio after viewing it, Tornado will buy the chosen stocks or funds for you with just one click.
Opening Your Account
To create a Tornado account, you need to be:
- a US resident
- be at least 18 years old.
The process is quick and easy. You provide some basic personal information and link a bank account. The latter is also a requirement to get your signup bonus. You can link up to three savings or checking accounts.
Currently, joint accounts and retirement accounts are not available. There are no minimum deposit requirements.
Fees
Tornado costs $4.99/month to subscribe, with 25 commission-free trades and also offers free simulated trading. If you don’t sign up for the monthly subscription, you will have to pay $4.50 per trade. That’s also the price for any additional trades after the first 25 free trades that come with the $4.99/month subscription. You pay the monthly subscription costs through your savings or checking account, or with a credit or debit card.
There are some other fees that you should be aware of, although most people do not have to worry about them.
- Paper trade confirmations: $2
- Paper statements: $5
- ACH notice of change/correction $5
- Tax statement: $5
- Returned payments” $30
More Free Stocks & Cash
- TradeStation – $150 Bonus
- tastyworks – 100 Free Stocks with $2K Deposit
- Moomoo – 6 Free Stocks
- WeBull – 5 Free Stocks
- M1 Finance – $50 Bonus
- SoFi Invest – $10 Bonus
- Robinhood – 1 Free Stock
- Firstrade – 1 Free Stock
- Tornado – $10 to $1,000 Signup Bonus
- Public – $10 in Stocks
- TradeUP – $20 + Up to Free Amazon Stock
- Stash – $25 Signup bonus + $50 with Direct Deposit
- Acorns – $5 Bonus plus $200+ with 4 Referrals
