tastyworks account opening is user-friendly, fast, fully digital, and there is no minimum deposit requirement.
tastyworks account types
tastyworks offers two types of accounts for individuals: cash and margin accounts. With a margin account, you can use leverage, which means you can borrow money from the broker to trade.
Retirement accounts are available for US citizens. You can choose between traditional, self-employed (SEP), Roth, or beneficiary (inherited) IRAs.
Based on ownership, you can open the following account types:
Individual account - account owned by an individual
Joint account - account owned by more than one person
Corporate and trust account - account owned by a legal entity (available only in the US)
In our tastyworks review, we tested the individual margin account, called 'The Works'.
tastyworks account base currencies
Unfortunately, tastyworks clients can only trade in one currency, which is the USD.
This matters because if you deposit funds in currencies other than the base currency, your money will be converted into USD.
To save on conversion fees, you can open a multi-currency bank account. Revolut or Transferwise both offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone. You can read more about brokerage fees in this article.
|Number of base currencies||1||1||9|
How to open your account
The tastyworks account opening is fast and fully digital. Our account was approved in 1 day.
The account application takes 10-15 minutes and is fairly straightforward. You need to provide the following information:
- Account type
- Personal information
- Employer information (name, address, phone number)
- Financial knowledge
- Name of your primary bank
- Digital copies of your ID and proof of address
Countries where tastyworks accounts can be opened
Opening an account at tastyworks is available in a selected group of countries. Make sure that you are eligible before starting to register!
Check out this table to see whether tastyworks is available for residents in some of the world’s major countries:
|United Arab Emirates||Yes|
- About tastyworks
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