tastytrade Logo
Fact checked by:
Bence András Rózsa
Updated:
May 2023
Recommended for
  • equity trading 4.1/5
Trusted broker
  • Top-tier regulation in the US
  • Compensation in case of broker bankruptcy (terms apply)
Popularity
11,240 people chose this broker in the last 6 months

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.

BrokerChooser score
4.7 4.7 /5
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tastytrade is available in United States
Stock fee
Low
Fractional shares
Yes
Minimum deposit
$0
Inactivity fee
$0
Pros
Cons
Low trading fees
Limited product selection
Great educational materials
Few deposit and withdrawal options
Good research tools
No demo account
Expert opinion
“I recommend tastytrade for options and futures traders focusing on US markets.”
Gergely Korpos
Co-founder / CPO

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

Fees
4.3
Account opening
5
Deposit and withdrawal
1.9
Web trading platform
3.4
Mobile trading platform
4.2
Desktop trading platform
3.9
Markets and products
3.3
Research
5
Customer service
5
Education
4.5
Safety
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To read much more details about the broker's services and features, expand on the sections below.

tastytrade review
Fees

Score: 4.3/5
+
tastytrade has low trading fees and there is no inactivity fee. On the other hand, you have to pay a high withdrawal fee for wire transfers and margin rates are quite high.
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tastytrade review
Account opening

Score: 5/5
+
tastytrade account opening is user-friendly, fast, fully digital, and involves no minimum deposit.
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tastytrade review
Deposit and withdrawal

Score: 1.9/5
+
tastytrade's deposit and withdrawal functions are easy to use and there's no deposit fee, but you can use only bank transfer, and withdrawals can be expensive especially for non-US clients.
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tastytrade review
Web trading platform

Score: 3.4/5
+
The tastytrade web platform is great for experienced traders, especially for options trading. However, it takes time to figure out how its functions work, and its customizability is limited.
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tastytrade review
Mobile trading platform

Score: 4.2/5
+
tastytrade's mobile platform is very similar to its web platform. It is well organized but feels complicated, and it also lacks price alerts.
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tastytrade review
Desktop trading platform

Score: 3.9/5
+
The desktop platform is very similar to the web trading platform and has extra features such as good customizability. On the other hand, it is likewise not well suited for beginners.
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tastytrade review
Markets and products

Score: 3.3/5
+
At tastytrade, you can trade US stocks, ETFs, options and some futures. Other popular asset classes like mutual funds or bonds are missing, as are international assets.
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tastytrade review
Research

Score: 5/5
+
tastytrade's research tools include trading ideas, a great desktop charting tool and high-quality news. However, it's all very options-focused, and offers only limited fundamental data.
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tastytrade review
Customer service

Score: 5/5
+
tastytrade's customer support is great; you can reach them via email, phone and live chat, and they will give you relevant answers.
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tastytrade review
Education

Score: 4.5/5
+
tastytrade has superb educational materials on options trading on its tastytrade platform. On the other hand, there is no demo account.
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tastytrade review
Safety

+
tastytrade is overseen by top-tier US regulators, giving you strong investor protection, but is not backed by any bank.
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tastytrade review
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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tastytrade review
FAQ

+
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Author of this review

Gyula Lencsés, CFA

Author of this review

Gyula has more than 10 years of experience in the financial industry. He spent most of his career in the wealth management business as a portfolio manager of mutual funds. He has trading experience in a wide range of asset classes, including stocks, ETFs, bonds, commodities, forex, and derivatives markets. He joined BrokerChooser in 2020 and his aim is to make finding the best brokers in a rapidly changing investment world as easy as possible.

Gyula Lencsés, CFA

Head of Content

Gyula has more than 10 years of experience in the financial industry. He spent most of his career in the wealth management business as a portfolio manager of mutual funds. He has trading experience in a wide range of asset classes, including stocks, ETFs, bonds, commodities, forex, and derivatives markets. He joined BrokerChooser in 2020 and his aim is to make finding the best brokers in a rapidly changing investment world as easy as possible.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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