Tastyworks.com Forex Review : Get $200 In Stock

About Tastyworks.com

Tastyworks.com believe in do-it-yourself investing. They think controlling your own money can be more rewarding than relying on money managers or robo-advisors who put your portfolio on autopilot. That’s why they gives you every edge possible with the technology, rates, and support that help you succeed more easily on your own. We’re as serious about your money as you are, and we work for you who are brave enough to take your finances into your own hands.

Tastyworks is a sophisticated options and futures broker aimed toward experienced traders. The platform was designed by the founders of thinkorswim with functionality and precision for complicated options trades and strategies. They offers stocks and ETFs to trade too, but the main focus is options.  Options on they are only charged a 1-way, $1 commission — far cheaper than almost all competitors. Commissions on futures and micro futures are also affordable, and there’s no minimum required to open a cash account. It’s $2,000 if you want to use margin.

Tastyworks.com Overview

How To  Start With Tastyworks.com

To Start Trading With Tastyworks.com Indian Residents First Have To Sign Up For An Account By Following The Steps Below.

Step 1. Click On The “Login/Signup” Link On The Top Right Hand Corner Of The Tastyworks.comWebsite.

Step 2. In The Form, Fill In Your First Name, Last Name, Mobile Number, Email ID And Password.

Step 3. If You Have A Referral Code, Enter The Code While Creating Your Account.

Step 4. Submit The Form And Wait For An Activation Email To Be Sent To You.

Step 5. Click On The “Confirm Email” Link In The Activation Email.

Step 6. After Your Account Is Activated, You’ll Be Sent A 6 Digit One Time Password (OTP), Which You Have To Enter After Logging Into Your Tastyworks Account.

Fees

When it comes to pricing, Tastyworks offers low trading fees. The broker charges $1 per contract for stock options and $2.50 per contract for options on futures when opening a position. Closing a position does not incur any charges. Additionally, the platform does not charge any inactivity fees or account maintenance fees.

Futures contracts are charged at $1.25 per contract, while micro futures contracts have a $0.85 per contract exercise fee. Stock and ETF trading is also commission-free. Other UK alternatives to Tastyworks such as Interactive Brokers UK (IBKR) and TD Ameritrade offer zero commission and are also FCA regulated.

Tastyworks also caps commissions at $10 per leg on equity options trades and $10 per side for opening and closing crypto trades. All futures trades incur a clearing fee of $0.30 per contract + exchange fees + NFA Fee. Tastyworks is confident in its low pricing structure when compared to other popular brokers like Fidelity, E-Trade, CurrencyFair and Schwab.

Mobile Apps

The Tastyworks mobile app is available to download for iOS and Android. The mobile platform is similar to the web platform and shares many of its major functions, such as watchlists, quote information and charts. However, some drawbacks include not enabling price alerts and order notifications. The mobile app also provides two-step/2 factor authentication (2FA) using an authenticator app and QR code.

Why tastyworks Over Others?  

Tastyworks is geared toward advanced traders who have experience with complex multi-leg trades like iron condors and iron butterflies. Its 3 platforms offer a variety of charting and analysis tools and offer several advantages over competitors, such as:

Easy onboarding.

tastyworks might be a platform for advanced traders, but signing up and getting an account funded certainly isn’t an advanced process. It takes less than 5 minutes and all necessary documents and forms can be easily found on the website. Accounts can be funded via ACH from any bank account with U.S. currency. 

Strong leadership.

tastyworks was created by the brains behind 1 of the world’s most powerful trading platforms — thinkorswim. The 4 main executives are thinkorswim co-creators Scott Sheridan and Tom Sosnoff, along with former CFO Kristi Ross and CTO Linwood Ma. 

Affordable derivatives.

Most brokers have gone commission-free for stock, ETF and mutual fund trades but finding cheap derivatives remains an obstacle. Webull and Robinhood offer free options trading but with limited choices and high spreads. The standard options fee is $0.65 per contract, but that means a commission is paid both opening and closing a trade. You wind up paying $1.30 for a round-trip options trade.

Regulation & Licensing

Tastyworks is licensed and regulated by the Financial Industry Regulatory Authority (FINRA) and is a member of the National Futures Association (NFA). US clients are also protected by the Securities Investor Protection Corporation (SIPC) scheme for up to USD 500,000. Note that some investment products, such as futures, are not covered by SIPC. Australian residents, on the other hand, are protected by the Australian Securities and Investments Commission (ASIC).

Tastyworks Customer Support

Click the “Get Help” box at the bottom of each tastyworks webpage to get a standard support request form. You’ll get a canned answer from a chatbot that usually directs you to a help article. For better options, see the contact table below.