InvestEngine Offers Up to £200 Cashback for New Customers, But Low Payouts Are Most Likely
The investment platform's welcome bonus is randomly allocated, with 75% of users receiving the smallest reward.
InvestEngine is offering new customers up to £200 in cashback when they invest at least £100, though the majority of recipients are likely to receive a much smaller reward between £20 and £24. The amount of cashback is determined by chance, with 75% of users receiving the lowest payout tier.
There is a 5% chance of receiving the top two tiers of cashback, which range from £75 to £200 for personal accounts and £250 to £400 for business accounts. For business accounts, InvestEngine offers higher cashback amounts, but these are also randomly generated. To retain the welcome bonus, customers must remain invested for a minimum of 12 months.
Earlier this year, InvestEngine ran a promotion offering up to £5,000 cashback for investments of £2 million, with a £25 reward for investing the minimum £5,000. These types of offers are common around the tax-year end but tend to decrease afterward. The current deal does not have a specified closing date, and the bonus is typically credited within two business days of signing up via a designated link.
InvestEngine offers a stocks and shares ISA, a self-invested personal pension (Sipp), and a general investment account. The platform focuses exclusively on exchange-traded funds (ETFs), aiming for a straightforward and cost-effective investment experience.
Alternative Offers
IG, another investment platform, is currently offering 5% cashback on investments of at least £100, capped at £200, for sign-ups before July 31. To achieve the maximum cashback with IG, an investment of £4,000 is required. IG also offers trading in spread bets and contracts for difference (CFDs), though these are high-risk financial products and are not recommended for inexperienced investors, as 68% of accounts trading these products lose money.
For those seeking a Sipp, Interactive Investor is providing £200 cashback for transferring or depositing a minimum of £20,000 into a pension. This offer has been extended and is scheduled to conclude on July 31.