tastytrade Review (Formerly tastyworks): tastytrade Brokerage Overview
tastytrade Review Introduction
tastytrade is an online brokerage platform that has garnered attention for its unique offerings and features tailored to active traders.
In this review, we take a closer look at tastytrade's services, platform, fees, and more to help you determine whether this platform fits your trading needs.
Background and Overview of tastytrade
tastytrade, formerly known as tastyworks, is a platform that caters to active traders, particularly those interested in options and futures trading.
With its wide range of financial products, including stocks, derivatives, and cryptocurrencies, tastytrade aims to provide traders with the tools they need to succeed in the market.
Trading Platforms and User Experience
tastytrade offers three trading platforms, each designed to enhance the trading experience:
Desktop Platform: The desktop platform features an intuitive interface, customizable layouts, and a wide array of trading tools. It is ideal for traders looking for a comprehensive and powerful trading experience.
Web-Based Platform: The web-based platform is accessible from any browser, making it a convenient option for traders on the go. It offers many of the same features as the desktop platform but with the added flexibility of web access.
Mobile App: tastytrade's mobile app is available for iOS and Android devices. It provides a streamlined trading experience, with features like profit and loss diagrams, option strategies, and real-time market data.
One standout feature is the "Follow Feed," where traders can track the trades of select traders, view their strategies, and gain insights into their decision-making process.
tastytrade Pricing, Fees, and Commissions
tastytrade is known for its competitive fee structure:
Stock Trades: Commission-free stock trades are available on tastytrade, making it cost-effective for stock traders.
tastytrade Options Fees: Options contracts are charged at $1 to open and free to close, providing low-cost options trading.
Cryptocurrency Trading: tastytrade offers a selection of cryptocurrencies for trading, with fees capped at $10 per trade.
Learn more about tastytrade’s fees in our comprehensive article.
Account Types and Minimum Deposit
tastytrade provides a variety of account types to suit different trading preferences:
Individual Accounts: Accounts owned by a single person.
Joint Accounts: Accounts owned by more than one person.
Retirement Accounts: Traditional, Roth, and SEP IRAs are available for retirement planning.
The minimum deposit requirement for cash accounts is $0, while margin accounts require a minimum deposit of $2,000.
Educational Resources and Research Tools
tastytrade places a strong emphasis on education and provides a wealth of resources:
Educational Content: tastytrade offers a library of educational videos, articles, and webinars covering various trading topics.
Research Tools: The platform provides tools for analyzing market trends, evaluating trade ideas, and testing strategies.
Cryptocurrency Trading on tastytrade
Cryptocurrency enthusiasts can trade a range of popular cryptocurrencies on tastytrade, including:
Bitcoin
Ethereum
Litecoin
Cardano
Dogecoin
And more
Strengths and Limitations of tastytrade
tastytrade's key strengths include its low fees, excellent trading technology, and extensive educational resources. However, the platform has some limitations, such as a lack of resources for long-term investors and the absence of mutual funds.
While mutual funds are commonly offered at most brokerages, the ETF equivalents will give you the same exposure and are available on tastytrade.
tastytrade (tastyworks) Download Instructions
To download the tastytrade platform, you can visit their website download page and follow the instructions. The platform is available for Mac, PC, and they have a mobile app.
tastytrade Day Trade Limit
The day trade limit for tastytrade is the same as any other brokerage. If you have an account over $25,000, you can make unlimited day trades.
Any margin account under $25,000 is limited to 3 day trades in a rolling 5 trading-day period. Although, if you use a cash account, you can make unlimited day trades with an account of less than $25,000 with your settled cash.
For additional research, consider this tastytrade review.
tastytrade Disclosure
tastytrade, Inc. (“tastytrade”) has entered into a Marketing Agreement with Marketing Agent (“HaiKhuu LLC.”) whereby tastytrade pays compensation to HaiKhuu LLC. to recommend tastytrade’s brokerage services. The existence of this Marketing Agreement should not be deemed as an endorsement or recommendation of HaiKhuu LLC. by tastytrade and/or any of its affiliated companies. Neither tastytrade nor any of its affiliated companies is responsible for the privacy practices of HaiKhuu LLC. or this website. tastytrade does not warrant the accuracy or content of the products or services offered by HaiKhuu LLC. or this website. HaiKhuu LLC. is independent and is not an affiliate of tastytrade.
tastytrade was previously known as tastyworks, Inc.
