Our take on tastytrade
tastytrade (formerly tastyworks) is a US options and stockbroker. tastytrade is great for options trading, as its trading platform is primarily designed to trade options, and trading fees are low. Furthermore, great educational and research materials are on hand to support your learning and your trading efficiency. tastytrade focuses mainly on options and futures trading. Trading with US stocks and ETFs is possible, but a bit complicated compared with other brokers. Bank transfer (wire) withdrawal is expensive, and credit/debit card deposit is not possible. The trading platform is great for options trading, but can be intimidating for a newbie, especially as there's no demo account. BrokerChooser gave tastytrade a 4.7/5 rating based on analyzing 500+ criteria and testing via opening a live account.
Pros | Cons |
---|---|
• Low trading fees
|
• Limited product selection
|
• Great educational materials
|
• Few deposit and withdrawal options
|
• Good research tools
|
• No demo account
|
tastytrade main highlights
🗺️ Country of regulation | USA |
💰 Trading fees class | Low |
💰 Inactivity fee charged | No |
💰 Withdrawal fee amount | $0 |
💰 Minimum deposit | $0 |
🕖 Time to open an account | 1 day |
💳 Deposit with bank card | Not available |
👛 With electronic wallet | Not available |
💱 Number of base currencies | 1 |
🎮 Demo account provided | No |
🛍️ Products offered | Stock, ETF, Options, Futures, Crypto |
tastytrade summary
- No inactivity fee
- Free stock trading
- Low options fees
- High margin rates for stock trading
- Withdrawal fee for bank (wire) transfers
tastytrade review
Fees
tastytrade review
Account opening
tastytrade review
Deposit and withdrawal
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Web trading platform
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Mobile trading platform
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Desktop trading platform
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Markets and products
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Research
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Customer service
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Education
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Safety
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Bottom line
tastytrade is an excellent broker for options trading, but it is a bit complicated if you want to trade stocks only.
tastytrade's trading fees are low, with free stock and ETF trading fees. Its trading platform is aimed at experienced options traders and can be intimidating for beginners. However, its educational and research tools are great for learning. Deposit and withdrawal processes could be better, and a demo account would also be great for practice purposes.
As there is no minimum deposit, no inactivity fee, or monthly fee, and the account opening process is seamless, you should feel free to try it.
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