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tastyworks Alternatives

May 2019
Our top picks for tastyworks alternatives
DEGIRO
Interactive Brokers
tastyworks Alternatives

The best alternatives to tastyworks are

  1. DEGIRO - Dutch discount broker
  2. Interactive Brokers - US discount broker
  3. Tradestation - US stockbroker

Let's see in a bit more detail how the tastyworks alternatives compare to tastyworks and each other:

tastyworks alternatives comparison
tastyworks DEGIRO Interactive Brokers Tradestation
Overall score 4.5 4.7 4.8 4.4
Fees score 4 stars 5 stars 4 stars 4 stars
Account opening score 4 stars 5 stars 3 stars 4 stars
Deposit and withdrawal score 2 stars 3 stars 2 stars 2 stars
Web platform score 4 stars 4 stars 4 stars 4 stars
Markets and products score 1 stars 3 stars 5 stars 2 stars
Visit broker Visit broker Visit broker Visit broker

Why are these brokers considered good alternatives to tastyworks? There are many areas based on which tastyworks can be compared with others. When we say a given online broker is a good alternative to tastyworks we mean these brokers are comparable in the following areas:

  • The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
  • The type of clients they target, i.e. beginners, experienced investors, or day traders.

tastyworks alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

  • tastyworks is recommended for price sensitive equity and option traders focusing on the us
  • DEGIRO is recommended for price-sensitive buy and hold investors and traders looking for only execution
  • Interactive Brokers is recommended for traders who prefer low fees and a professional trading environment
  • Tradestation is recommended for traders wanting great research tools and preferring the us markets

Important factors of finding tastyworks alternatives

So far Brokerchooser has reviewed 56 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

  • open a live account
  • check over 100 criteria, with weighting based on readers' preferences
  • refresh data regularly

Whether tastyworks or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. tastyworks is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost tastyworks alternative.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you cannot make a deposit with your credit card at tastyworks, some alternatives might allow you to do that.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given tastyworks alternative is a must.


Now let's dive into the details of how tastyworks and its alternatives perform in the most important areas!

tastyworks alternatives
tastyworks

4.5 5 stars

Best for options

tastyworks logo

tastyworks is a young, upcoming US broker focusing on options trading.

The people behind tastyworks are proven experts who built thinkorswim, now operated by TD Ameritrade.  tastyworks is privately owned, established in 2017 and headquartered in Chicago.

tastyworks is considered safe as it is regulated by a top-tier regulator, the US FINRA.

Recommended for price sensitive equity and option traders focusing on the us

Pros
  • Low options trading fees
  • Great education materials
  • Very good customer service
Cons
  • Only US options, futures, and stocks
  • Can be intimidating for beginners
  • Trading platforms have some bugs

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Fees 4 stars

tastyworks has low trading fees and average non-trading fees. Its options fees are very low as well.
Pros
  • Low trading fees
  • No inactivity fee
  • Transparent fee structure
Cons
  • Withdrawal fee
  • High financing rate
tastyworks alternatives trading fees
tastyworks DEGIRO Interactive Brokers Tradestation
Apple benchmark fee $5.2 $1.4 $2.2 $2.2
Vodafone benchmark fee - $5.2 $17.9 -
EURUSD benchmark fee - - $23.0 -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

Account opening 4 stars

tastyworks account opening is user-friendly and fully digital. You can open your account without a required minimum. On the flip side, it can be more days until your account is approved.
Pros
  • Fully digital account opening
  • No minimum deposit
  • User-friendly
Cons
  • Can take 3 business days
tastyworks alternatives minimum deposit and account open times
tastyworks DEGIRO Interactive Brokers Tradestation
Minimum deposit $0 $0 $0 $500
Time to open account 1-3 days 1 day 1-3 days 1-3 days

Learn more about tastyworks minimum deposit here.

More Visit broker

Deposit and withdrawal 2 stars

tastyworks deposit and withdrawal can be improved. The account can be opened only in USD. Also, non-US citizens can only use bank transfer, and there is high withdrawal fee.
Pros
  • No deposit fee
  • User-friendly
Cons
  • Credit/Debit card not available
  • High withdrawal fee
  • Only one account base currency
tastyworks and alternatives withdrawal options and fees
tastyworks DEGIRO Interactive Brokers Tradestation
Bank Transfer Yes Yes Yes Yes
Credit/Debit card No No No No
Electronic wallets No No No No
Withdrawal fee $45 $0 $0 $35

More Visit broker

Web trading platform 4 stars

Tastyworks web trading platform feels like entering the cockpit of a plane. It looks organized, but also complicated at first sight.
Pros
  • Clear fee report
  • Good search function
  • Great options trading panel with embedded strategies
Cons
  • Limited customizability (for charts, workspace)
  • Can be intimidating for beginners
tastyworks - Web trading platform
tastyworks and alternatives trading platform scores
tastyworks DEGIRO Interactive Brokers Tradestation
Web platform score 4 stars 4 stars 4 stars 4 stars
Mobile platform score 4 stars 4 stars 4 stars 5 stars
Desktop platform score 4 stars - 3 stars 3 stars

Learn more about tastyworks's web trading platform in the detailed tastyworks review.

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Markets and products 1 stars

At tastyworks you can trade with US stocks, ETFs, options, and some futures.
tastyworks and alternatives markets and products
tastyworks DEGIRO Interactive Brokers Tradestation
Stock Yes Yes Yes Yes
ETF Yes Yes Yes Yes
Forex No No Yes No
Fund No Yes Yes Yes
Bond No Yes Yes No
Options Yes Yes Yes Yes
Futures Yes Yes Yes Yes
CFD No Yes Yes No
Crypto No Yes Yes No

More Visit broker

Verdict

tastyworks is an excellent broker for options trading. It could be a bit complicated if you want to trade stocks only.  

tastyworks is a US broker, hence investor protection scheme is excellent. Options fees are very low, among the bests. Its trading platform is aimed at experienced options traders, it can be intimidating for starters.

As there is no minimum deposit, no inactivity or monthly fee, and the account open is seamless, feel free to try it.

 

tastyworks
Summary Tastyworks is a young US options and stockbroker. It is regulated by FINRA, the top-tier US regulator.
Fees score 4 stars
Recommended for Price sensitive equity and option traders focusing on the US

More Visit broker

tastyworks alternatives
DEGIRO

4.7 5 stars

Best discount broker

DEGIRO logo

DEGIRO is a trending Dutch online discount broker. It is privately owned and was established in 2013 by former employees of another brokerage company.

DEGIRO is considered safe as it is regulated by top-tier financial regulators, the Dutch AFM and DNB. It is registered with the Chamber of Commerce and Industry in Amsterdam under number 34342820.

Recommended for price-sensitive buy and hold investors and traders looking for only execution

Pros
  • One of the lowest fees in the market
  • Broad access to international markets
  • Easy to use web and mobile platform
Cons
  • Limited research and education
  • No forex trading
  • No credit/debit card deposit and withdrawal

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Fees 5 stars

DEGIRO has low trading and non-trading fees. In most asset classes, it is the best in the market. There are some ETFs which you can trade free once per month. It's a great offer for buy-and-hold investors.
Pros
  • Low trading fees
  • Low non-trading fees
  • No withdrawal fee
  • At some ETFs, one free trade per month
Cons
  • Yearly service fee for mutual funds
  • Higher trading fees for Asian and smaller European stock exchanges
tastyworks vs. DEGIRO: Trading fees
DEGIRO tastyworks
Apple benchmark fee $1.4 $5.2
Vodafone benchmark fee $5.2 -
EURUSD benchmark fee - -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

Account opening 5 stars

DEGIRO has an easy and fast account opening process. Also, there is no minimum deposit.
Pros
  • Fully digital account opening
  • No minimum deposit
  • User-friendly
Cons
None
tastyworks vs. DEGIRO: Minimum deposit, time to open an account
DEGIRO tastyworks
Minimum deposit $0 $0
Time to open account 1 day 1-3 days

If you are interested more in DEGIRO minimum deposit, this overview will help you.

More Visit broker

Deposit and withdrawal 3 stars

DEGIRO deposit and withdrawal is free of charge via bank transfer. On the other hand, you cannot deposit with credit or debit card.
Pros
  • Free withdrawal
  • No deposit fee
  • Several account base currencies
Cons
  • Credit/Debit card not available
tastyworks vs. DEGIRO: Withdrawal options
DEGIRO tastyworks
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets No No
Withdrawal fee $0 $45

More Visit broker

Web trading platform 4 stars

DEGIRO’s web platform is simple and easy to use. Even beginners can easily navigate it and buy stocks. On the negative side, it is a bit complicated to customize.
Pros
  • User-friendly
  • Two-step (safer) login
  • Looks appealing
Cons
  • Limited customizability (for charts, workspace)
  • No price alerts
Web trading platform of DEGIRO, a tastyworks alternative
tastyworks vs. DEGIRO: Trading platform scores
DEGIRO tastyworks
Web platform score 4 stars 4 stars
Mobile platform score 4 stars 4 stars
Desktop platform score - 4 stars

Learn more about DEGIRO's web trading platform in the detailed DEGIRO review.

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Markets and products 3 stars

At DEGIRO you can access many markets and trade with a lot of different products, except for forex.
tastyworks vs. DEGIRO: Markets and products
DEGIRO tastyworks
Stock Yes Yes
ETF Yes Yes
Forex No No
Fund Yes No
Bond Yes No
Options Yes Yes
Futures Yes Yes
CFD Yes No
Crypto Yes No

More Visit broker

Verdict

DEGIRO is a good choice if you want a simple platform and don’t want to spend a fortune on fees.

It is far cheaper than its big European competitors and only Interactive Brokers can compete with DEGIRO fees. DEGIRO also has great access to international markets and trading products. And it is als one of the best trading platforms for Europeans.

However, cheapness comes with some shortfalls. Education and research tools are limited, there is no forex trading and limited deposit and withdrawal options.

All in all, it is a great online broker. As there is no minimum deposit and no inactivity fee, feel free to try it out.

DEGIRO
Summary DEGIRO is a Dutch discount broker established in 2008. It is regulated by the Dutch FMA.
Fees score 5 stars
Recommended for Price-sensitive buy and hold investors and traders looking for only execution

More Visit broker

tastyworks alternatives
Interactive Brokers

4.8 5 stars

Best online broker

Interactive Brokers logo

Interactive Brokers was founded in 1978 and it is one of the biggest US-based discount brokers. It is regulated by several regulators globally, including top-tier authorities like FCA and SEC. Interactive Brokers Group is listed on the New York Stock Exchange.

Interactive Brokers is considered safe because it has a long track record, is listed on a stock exchange, discloses its financials, and is regulated by top-tier regulators.

Recommended for traders who prefer low fees and a professional trading environment

Pros
  • Broad product portfolio
  • Low fees
  • Great and diverse research tools
Cons
  • Funding and withdrawal only through bank transfer
  • Complicated account opening process
  • Not user-friendly and complicated desktop trading platform

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Fees 4 stars

Interactive Brokers has low trading fees and high non-trading fees. The fees are transparent.
Pros
  • Low trading fees
  • Transparent fee structure
Cons
  • Inactivity fee
tastyworks vs. Interactive Brokers: Trading fees
Interactive Brokers tastyworks
Apple benchmark fee $2.2 $5.2
Vodafone benchmark fee $17.9 -
EURUSD benchmark fee $23.0 -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

Account opening 3 stars

The account opening process is fully digital, but slow and complicated.
Pros
  • Fully digital account opening
  • No minimum deposit for most accounts
Cons
  • Slow account opening
  • Not user-friendly
  • Confusing messages throughout the process
tastyworks vs. Interactive Brokers: Minimum deposit, time to open an account
Interactive Brokers tastyworks
Minimum deposit $0 $0
Time to open account 1-3 days 1-3 days

If you are interested more in Interactive Brokers minimum deposit, this overview will help you.

More Visit broker

Deposit and withdrawal 2 stars

Interactive Brokers offers a lot of base currencies and one withdrawal per month is free. On the negative side, only bank transfer is available.
Pros
  • Several account base currencies
  • No charge for the first withdrawal each month
Cons
  • Credit/Debit card not available
  • Slow funding and withdrawal - over 3 days
tastyworks vs. Interactive Brokers: Withdrawal options
Interactive Brokers tastyworks
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets No No
Withdrawal fee $0 $45

More Visit broker

Web trading platform 4 stars

The Interactive Brokers web platform is simple and easy to use, even for beginners. On the negative side, it is a bit complicated to customize.
Pros
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
Cons
  • Limited customizability (for charts, workspace)
Web trading platform of Interactive Brokers, a tastyworks alternative
tastyworks vs. Interactive Brokers: Trading platform scores
Interactive Brokers tastyworks
Web platform score 4 stars 4 stars
Mobile platform score 4 stars 4 stars
Desktop platform score 3 stars 4 stars

Learn more about Interactive Brokers's web trading platform in the detailed Interactive Brokers review.

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Markets and products 5 stars

Interactive Brokers allows you access to a very wide range of markets and you can trade with all product types. IB's product range is the widest available.
tastyworks vs. Interactive Brokers: Markets and products
Interactive Brokers tastyworks
Stock Yes Yes
ETF Yes Yes
Forex Yes No
Fund Yes No
Bond Yes No
Options Yes Yes
Futures Yes Yes
CFD Yes No
Crypto Yes No

More Visit broker

Verdict

IB is one of the biggest discount US brokers regulated by top-tier regulators. If you like low-cost trading and easily navigate on a really complicated platform, Interactive Brokers is for you. We mainly recommend IB for traders.

It has low trading fees, a wide range of product portfolio, and diverse research tools. 

On the flip side, only bank transfer is available for deposit and withdrawal. The account opening and the desktop platform are not user-friendly and complicated.

Interactive Brokers is definitely recommended if you want low fees, a lot of products and you are experienced to cope with a complicated platform.

Interactive Brokers
Summary Interactive Brokers is a US discount broker. IB is listed on stock exchange and regulated by several authorities, like the top-tier FCA and SEC.
Fees score 4 stars
Recommended for Traders who prefer low fees and a professional trading environment

More Visit broker

tastyworks alternatives
Tradestation

4.4 4 stars

Tradestation logo

TradeStation is a US broker with a long history dating back to 1982. Its parent company, the Monex Group is listed on the Tokyo stock exchange.

TradeStation is considered safe as it is regulated by a top-tier regulator, the US FINRA. Clients are eligible for the SIPC investor protection scheme which offers up to $500,000 (cash up to $250,000) per account.

Recommended for traders wanting great research tools and preferring the us markets

Pros
  • Great mobile trading platform
  • Wide range of reserach tools
  • High-quality educational tools
Cons
  • Not user-friendly deposit and withdrawal
  • No forex
  • Bad customer service

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Fees 4 stars

TradeStation has low trading fees and there are multiple fee structures to choose from. Non-trading fees, like inactivity fees are high.
Pros
  • Low trading fees
  • More fee structures you can choose from
Cons
  • High non-trading fees
tastyworks vs. Tradestation: Trading fees
Tradestation tastyworks
Apple benchmark fee $2.2 $5.2
Vodafone benchmark fee - -
EURUSD benchmark fee - -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

Account opening 4 stars

TradeStation account opening is fully digital and user-friendly. On the other hand, it takes more days until your account is approved.
Pros
  • Fully digital account opening
  • User-friendly
Cons
  • Slow account opening
tastyworks vs. Tradestation: Minimum deposit, time to open an account
Tradestation tastyworks
Minimum deposit $500 $0
Time to open account 1-3 days 1-3 days

If you are interested more in Tradestation minimum deposit, this overview will help you.

More Visit broker

Deposit and withdrawal 2 stars

TradeStation deposit and withdrawal can be improved. As a plus, the deposit is free. However, you can use only bank transfer and there is a high, $35 withdrawal fee.
Pros
  • No deposit fee
Cons
  • Credit/Debit card not available
  • Not user-friendly
  • High withdrawal fee (for non-US clients $35 /tansaction)
tastyworks vs. Tradestation: Withdrawal options
Tradestation tastyworks
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets No No
Withdrawal fee $35 $45

More Visit broker

Web trading platform 4 stars

TradeStation has a good web trading platform. It is user-friendly with and looks nice. It also offers a great order management. On the flip side, it lacks the alerts and the clear fee reports.
Pros
  • User-friendly
  • Good customizability (for charts, workspace)
  • Good variety of order types
Cons
  • No clear fee report available
  • No price alerts
Web trading platform of Tradestation, a tastyworks alternative
tastyworks vs. Tradestation: Trading platform scores
Tradestation tastyworks
Web platform score 4 stars 4 stars
Mobile platform score 5 stars 4 stars
Desktop platform score 3 stars 4 stars

Learn more about Tradestation's web trading platform in the detailed Tradestation review.

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Markets and products 2 stars

TradeStation gives you access to a wide variety of US products. However, its non-US offer is not competitive. The forex, CFDs and cryptos are missing.
tastyworks vs. Tradestation: Markets and products
Tradestation tastyworks
Stock Yes Yes
ETF Yes Yes
Forex No No
Fund Yes No
Bond No No
Options Yes Yes
Futures Yes Yes
CFD No No
Crypto No No

More Visit broker

Verdict

TradeStation is a great US broker.

The mobile platform is very user-friendly with many functions. It also offers great research tools, including a wide range of analytical tools. Lastly, education is well-structured and high-quality. 

On the other hand, the deposit and withdrawal are not user-friendly and you can use only bank transfer. It lacks many asset classes, e.g. forex or CFDs. The customer service can be improved as the response time at email and chat support are very slow.

Feel free to try TradeStation if you prefer Recommended for buy and hold investors with any experience level.

Tradestation
Summary TradeStation is a US stockbroker regulated by FINRA, the top-tier US regulator.
Fees score 4 stars
Recommended for Traders wanting great research tools and preferring the US markets

More Visit broker

tastyworks alternatives
Bottom line

Based on our analysis, there are several good alternatives to tastyworks. They all offer similar products and target similar customers. Here's a recap of the results in a table.

tastyworks alternatives
Broker Info Recommended for
tastyworks US options and stockbroker Price sensitive equity and option traders focusing on the US
DEGIRO Dutch discount broker Price-sensitive buy and hold investors and traders looking for only execution
Interactive Brokers US discount broker Traders who prefer low fees and a professional trading environment
Tradestation US stockbroker Traders wanting great research tools and preferring the US markets

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

AUTHOR

Dan Sallai
Dan Sallai
CMO
My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.
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