Overall, tastyworks has low trading fees and the broker doesn't charge an inactivity fee. On the other hand, the withdrawal fee for wire transfers is high.
tastyworks trading fees are low.
tastyworks charges $1 per contract for stock options and $2.50 per contract for options on futures for opening a position. Closing a position on options is free of charge.
For regular futures contracts, it charges $1.25 per contract, while micro futures contracts have a $0.85 contract fee. tastyworks has a unique futures product, called Smalls Futures. Smalls Futures fees are $0.25 per contract.
tastyworks fees on stocks and ETFs
tastyworks charges no commission on stock and ETF trades.
If you prefer stock trading on margin, check out tastyworks's margin rates below.
A margin rate is charged when you trade on margin. This means you borrow money or stocks from your broker to trade. For this borrowed money/stock, you have to pay interes, which can amount to a significant proportion of your trading costs.
|USD margin rate||8.0%||6.3%||9.5%|
tastyworks' margin rates are volume-tiered. The rate itself consists of a base rate and a premium or discount depending on the margin amount. The base rate is set at tastyworks' discretion; at the time of our review, the base rate was 7%.
|Debit balance||Rate %||Base rate + / -|
|$0 - $24,999||8.00%||Base Rate + 1.00%|
|$25,000 - $49,999||7.50%||Base Rate + 0.50%|
|$50,000 - $99,999||7.00%||Base Rate|
|$100,000 - $249,999||6.50%||Base Rate - 0.50%|
|$250,000 - $499,999||6.00%||Base Rate - 1.00%|
|$500,000 - $999,999||5.50%||Base Rate - 1.50%|
|$1,000,000 +||5.00%||Base Rate - 2.00%|
tastyworks options fees are low.
Note that tastyworks charges a flat fee of $5 for exercise and assignment, irrespective of how many shares are exercised or assigned.
|US stock index options||$7.5||$20.0||$10.0|
The fees for Single-Listed Exchange Proprietary Index Options are lower: it's $0.65 per contract on the SPX and $0.18 on the NDX indexes.
|Commission to open trade||Commission to close trade|
|Options on stocks||$1.00/contract, max $10.00 per leg||free|
|Options on micro futures||$1.50/contract||free|
|Options on Smalls Futures||$0.18 - $0.65 /contract||$0.18 - $0.65 /contract|
tastyworks futures fees are generally low.
|US micro e-mini stock index futures||$8.5||-||$5.0|
tastyworks has average non-trading fees. It doesn't charge a general account fee, an inactivity fee, a custody fee or a deposit fee.
tastyworks deposit fee
Deposit fees are applied when you send money to your trading account from your bank account. Usually, brokers don't charge money for that and tastyworks is no different: you will see the exact same amount on your brokerage account that you sent by any of the deposit methods tastyworks offers.
tastyworks withdrawal fee
tastyworks withdrawal costs $45 for non-US wire transfers and $25 for wire transfers within the US. ACH withdrawals are free of charge.
Withdrawing money can be done the same way as making deposits, i.e. only via wire transfer for non-US citizens, plus ACH and check for US citizens. The user interface for wire transfer withdrawal is customer-friendly and easy to use.
How long does it take to withdraw money from tastyworks? In our experience, bank transfer withdrawal takes at least 3 business days.
You can only withdraw money to accounts in your name.
tastyworks inactivity fee
tastyworks does not apply an inactivity fee, which is great because your account will not be charged even if you do not trade for a longer period (months or years).
tastyworks fees explained
Online brokerages in general charge much lower brokerage fees than traditional brokers. This is mostly because online brokerages' business can be much better scaled. From a purely technical standpoint, it doesn't make much of a difference for them if they have 100 or 5,000 clients.
This is not to say, however, that they don't have any fees at all. Usually, you need to keep an eye on these 2 types of fees:
Trading fees - these are brokerage fees that you pay when you actually do a trade (i.e. buy an Apple stock or an ETF). What you pay is either a commission, a spread, or a financing rate. Some brokers apply all of these.
Commission is the fee you pay to the broker for executing a trade. It is either based on the traded volume or a fixed amount.
Spread is the difference between the buy price and the sell price
The financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
Non-trading fees - these are charges not directly related to a trade but rather to activities you make in your account (i.e. depositing money to your account, withdrawing money from it, or not trading for an extended amount of time).
Above we compared tastyworks' fees with its closest competitors, ChoiceTrade and TradeStation.
- About tastyworks
- Trading stocks on tastyworks
- Options trading on tastyworks
- Crypto trading on tastyworks
- Futures trading on tastyworks
- tastyworks margin minimums
- How to withdraw money on tastyworks
- How to open a tastyworks account
- tastyworks trading platforms
- tastyworks minimum deposit
- tastyworks customer service
- Is tastyworks legit and safe?
- tastyworks app
- tastyworks alternatives