Tastytrade is a dynamic brokerage platform designed for active traders in stocks, options, and futures. It operates under the regulation of leading authorities such as FINRA ensuring a secure trading environment. Tastytrade broker supports transactions in USD and imposes no minimum deposit requirement, making it accessible for traders of various experience levels. This Tastytrade review will examine all these and other features in detail.
Tastytrade Company Information & Regulation Status
Tasty Trade is more than just a broker; it's a financial ecosystem designed for traders. The company's roots run deep in the financial industry, with its founders having previously co-founded Thinkorswim, a highly successful brokerage firm later acquired for $750 million. This pedigree is evident in Tastytrade's approach to trading and investor education. Key points about Tasty trade's company information and regulation:
- Founded by Scott Sheridan and Tom Sosnoff (in 2017);
- Approved as an Introducing Broker-Dealer;
- Offers trading in futures, options, stocks and cryptocurrencies;
- Regulated by FINRA, SEC, and National Futures Association.
Tastytrade's commitment to transparency and innovation is reflected in its low, straightforward trading rates and intuitive, feature-rich platform.
Tastytrade Summary of Specifics
Here is a complete summary of what this broker is and its offerings:
Broker | Tastytrade |
Account Types | Standard, Retirement, Entity Corporate |
Regulating Authorities | FINRA, SEC, NFA |
Based Currencies | USD |
Minimum Deposit | No minimum |
Deposit Methods | ACH, Wire, Check, ACAT |
Withdrawal Methods | Bank Transfer |
Minimum Order | $1 |
Maximum Leverage | 1:2 (for Stocks) |
Investment Options | NO |
Trading Platforms & Apps | Own Platform (Desktop, Web, Mobile App) |
Markets | Stocks, Options, Futures, Options on Futures, Cryptocurrencies, ETF, Commodities, Indices |
Spread | 0 |
Commission | From 0 |
Orders Execution | Market , Limit, Stop market, Stop limit |
Margin Call/Stop Out | N/A |
Trading Features | Follow Feed, Video Feed |
Affiliate Program | YES |
Bonus & Promotions | YES |
Islamic Account | NO |
PAMM Account | NO |
Customer Support Ways | Email, Online Chat, Phone Call |
Customer Support Hours | (7:00 AM CST - 5:00 PM CST, Monday-Thursday and 7:00 AM CST - 4:00 PM CST on Friday) |
Tastytrade's competitive edge lies in its options-centric approach, offering features tailored to active traders that are often missing from more generalist platforms.
Tastytrade Types of Accounts
Tasty Trade offers a diverse range of account types to cater to various investor needs and goals:
Category | Accounts | Description |
Standard Brokerage Accounts | Individual | Single ownership, providing options for both cash and margin trading with flexibility and access to leverage for different strategies |
TIC Joint | Joint ownership where each individual holds a defined share of the account. In case of death, the deceased’s portion is transferred to their estate | |
Joint with Rights of Survivorship | Joint ownership with equal division of assets. Upon the death of one owner, the surviving party takes full ownership of the account | |
Retirement Accounts | Traditional IRA | Contributions grow tax-deferred, and withdrawals are taxed as income. Eligibility is based on earned income |
Roth IRA | Contributions made post-tax, with the potential for tax-free withdrawals during retirement for qualifying individuals | |
SEP-IRA | Designed for small business owners and self-employed individuals, offering tax-deferred growth and allowing larger contributions than other IRAs | |
Beneficiary Traditional IRA | An account set up for a beneficiary after inheriting an IRA, with specific tax rules depending on the original IRA type | |
Beneficiary Roth IRA | ||
Entity Corporate Accounts | C Corp | Legally recognized entities authorized by a US state to operate as businesses |
S Corp | Similar to C Corps, but with no income tax at the corporate level and limited to 100 shareholders | |
LLC | Unincorporated entities offering limited liability to owners with income passed through for tax purposes | |
Partnership | Entities formed by two or more individuals, with profits and losses passed to individual partners for taxation |
Each account type offers unique benefits and is designed to accommodate different trading styles and investment objectives.
The flexibility in account options allows traders to choose the structure that best aligns with their financial goals and tax considerations.
Tastytrade Advantages and Disadvantages
While Tasty Trade is not primarily a forex broker, its platform offers several advantages and disadvantages for traders:
Pros | Cons |
Low commissions and fees for options and futures trading | Steep learning curve for new traders |
Sophisticated trading platforms and tools for active traders | Limited investment choices beyond options, futures, stocks, and cryptocurrencies |
Extensive educational content focused on options strategies | Narrowly focused research and educational resources |
Tastytrade's platform is well-suited for experienced options and futures traders seeking low-cost, advanced trading capabilities. However, its specialized approach may not be ideal for novice investors or those looking for a more diverse range of investment products.
Tastytrade Broker Signing Up & Verification Process
Signing up for a Tastytrade broker account is a straightforward process:
- Go the official website and click on “Open an Account”;
- Enter personal information (Contact information, citizenship status, tax information, employment details, affiliation info);
- Setup your account;
- Pass the security section;
- Upload the required documents.
Tastytrade’s Trading Platform
Tasty trade's trading platform is a cornerstone of its offering, designed to cater to the needs of active traders. Here are the available versions:
- Desktop;
- Browser-Based;
- Mobile/Tablet.
Desktop Platform
- Advanced Charting Tools: Analyze price movements with customizable indicators and studies, allowing for in-depth technical analysis;
- Multi-Chart Viewing: Monitor multiple stock and futures charts simultaneously in tastycharts mode, enhancing your ability to track various assets at once;
- Order Chains Feature: Evaluate the performance of equity and ETF options positions, providing a comprehensive view of your investment strategies;
- Alerts System: Configure alerts that notify you via email when specific price points or implied volatility levels are reached, ensuring you stay informed about market movements.
Browser-Based Platform
- Trade Anywhere: Engage in trading activities from any location using tastytrade's online platform;
- Account Management: Fund and oversee your tastytrade accounts and user profile seamlessly;
- Visual Trading Options: Utilize the curve trading mode for a graphical approach or the traditional table view to trade and monitor multiple stock and futures options expirations simultaneously;
- Interactive Options Trading: Click and drag options along the strike plane for a customized trading experience.
Mobile/Tablet Platform
- Account Funding and Tracking: Deposit funds into your account and monitor your transaction history;
- Performance Monitoring: Review the recent performance of equities, futures, and ETFs using curated watchlists or create personalized ones;
- Chart Analysis: Utilize tastytrade’s charting tools to evaluate price movements effectively;
- Order Activity Overview: Access the activity tab to track all orders, whether they are pending, completed, or canceled.
Tastytrade Spreads and Commissions
Tasty trade's pricing model is one of its most attractive features:
Product Type | Opening Commission (per contract/Purchase) | Closing Commission (per contract/Purchase) |
Cryptocurrency | $0 | $0 |
Stock & ETFs | $0 (unlimited shares) | $0 |
Options on Micro Futures | $1.5 | $0 |
Options on Futures | $2.5 | $0 |
Options on Stock & ETFs | $1 ($10 max per leg) | $0 |
Micro Futures | $0.85 | $0.85 |
Futures | $1.25 | $1.25 |
Tastytrade Broker Deposit & Withdrawal [ACH, Wire, Check, and ACAT]
Tasty Trade offers several convenient funding options:
- Bank Transfer: easy transfers by linking your bank account;
- Wire transfers: direct deposit to your account;
- Checks: by mailing the broker;
- ACAT: No incoming fee, up to $75 reimbursement.
Copy Trading & Investment Option Offerings
While Tasty Trade does not offer a dedicated copy trading feature, the broker provides robust tools and resources for developing and implementing trading strategies. Traders can leverage Tastytrade's educational content and platform features to create their trading approaches or follow strategies discussed by experts on the platform.
Tastytrade Bonuses and Promotions
Tasty Trade offers several attractive promotions:
Category | Details |
Promotion | Tiered Account Opening Promotion |
Eligibility | New customers only (determined by Tax ID) |
Must be US Resident (at least 18 years old) | |
Eligible Account Types | Individual (cash or margin) |
Joint (cash or margin) | |
S-Corp, LLC, C-Corp (cash or margin), Partnerships | |
Trust Accounts | |
Non-Eligible Account Types | International customers |
IRAs (not eligible due to tax reasons) | |
Promotional Period | April 1, 2024, to December 31, 2024 |
Referral Code | MYNEWBONUS |
Withdrawal Hold | 12-month hold on the initial funding amount to retain the cash bonus |
Here are the deposit funds and the bonus cash amount you get in return:
- $2,000 - $4,999: $50;
- $5,000 - $24,999: $100;
- $25,000 - $99,999: $500;
- $100,000 - $249,999: $2,000;
- $250,000 - $499,999: $3,000;
- $500,000 - $999,999: $4,000;
- $1,000,000+: $5,000.
These promotions demonstrate Tastytrade's commitment to providing value to its trading community and incentivizing active participation on the platform.
Tastytrade Broker Support
The broker prides itself on comprehensive customer support:
- Phone support: 888-247-1963;
- Email assistance: Support@tastytrade.com;
- Live chat.
The support team can help with various inquiries, from account-related questions to trading strategy guidance. This commitment to customer service contributes to Tastytrade's high user satisfaction ratings.
Tastytrade Broker List of Restricted Countries
Due to regulatory constraints or other factors, Tasty Trade's services are not available in certain countries:
- Afghanistan;
- Albania;
- Algeria;
- Angola;
- Anjouan;
- Barbados;
- Belarus;
- Bosnia & Herzegovina;
- Botswana;
- Bulgaria;
- Burkina Faso;
- Burundi;
- Cambodia;
- Cayman Islands;
- Central African Republic;
- Chad;
- Comoros;
- Côte d'Ivoire (Ivory Coast);
- Cuba;
- Democratic Republic of the Congo;
- Equatorial Guinea;
- Eritrea;
- Ethiopia;
- Ghana;
- Gibraltar;
- Guinea;
- Guyana;
- Haiti;
- Iran;
- Iraq;
- Jordan;
- Kenya;
- Lao PDR;
- Latvia;
- Lebanon;
- Liberia;
- Libya;
- Mali;
- Malta;
- Mauritius;
- Mauritania;
- Mexico;
- Morocco;
- Montserrat;
- Mozambique;
- Myanmar;
- Namibia;
- Nicaragua;
- Niger;
- Nigeria;
- North Korea;
- Pakistan;
- Palestinian Territory;
- Panama;
- Philippines;
- Russia;
- Sao Tome & Principe;
- Senegal;
- Sierra Leone;
- Somalia;
- South Africa;
- South Sudan;
- Sri Lanka;
- Sudan;
- Syria;
- Tajikistan;
- Tanzania;
- Turkey;
- Turkmenistan;
- Uganda;
- Ukraine;
- UK;
- Vanuatu;
- Venezuela;
- Western Sahara;
- Yemen;
- Zaire;
- Zimbabwe.
Tastytrade Broker Trust Scores & Reviews
Tasty Trade has garnered impressive trust scores and reviews:
- Trustpilot score: 4.3 out of 5 (Over 475 reviews);
- Praised for easy-to-use platform and excellent customer support;
- Highly rated for educational resources and advanced trading features.
While most reviews are positive, some users have reported issues with certain trading scenarios and occasional platform glitches.
Conclusion and final words
In conclusion, Tastytrade is a broker tailored to active options and future traders. Its innovative platform, competitive pricing (Stock 0 commission), and robust educational resources make it an attractive choice for those looking to take their trading to the next level. While it may not be the best fit for complete beginners or those seeking a wide range of investment products, Tastytrade excels in providing a sophisticated trading experience for its target audience. You tell us! What do you think about the Tastytrade broker? Write in the comments.
