Tastyworks is a trading platform. It is specially catered to frequent options traders. What’s more, it has low trading fees! Furthermore, you also get access to educational material that will help you familiarise yourself with all concepts relating to trading.
There are a variety of services available at Tastyworks that will help you master volatility, probability, and liquidity. You are completely in control of all options. Unlike many other services, you will not be advised to seek the help of a financial advisor.
This Tastyworks review and sign up promotion article will take a look at what makes Tastyworks a good choice. Read on to find about all the pros and cons of this platform and promotional offers.
Pros of Tastyworks
There are many reasons why trading platforms like Tastyworks are a very good option. It is a complicated affair to trade with ETFs and US stocks. There is no possibility of debit/credit transfer, and wiring money is expensive. Trading platforms help with these problems.
For a good trading platform, you can turn to Tastyworks. As our first step to this Tastyworks reviews and sign up promotion article, let us take a look at some of the pros.
Signing Up is Quick and Easy
Signing up for Tastyworks is very easy. You will also get your account funded without any worries at all. Since Tastyworks is reputed to be catered to expert traders, it might seem intimidating but don’t worry; getting started is very convenient on this platform.
All the necessary documents are available on the Tastyworks website itself. You can fund your account via ACH from any bank account where USD is a valid currency. The entire process takes only a few minutes.
Easily Accessible Tools
There are a host of tools, readily accessible, available on Tastyworks. Every feature that would need for trading or even analyzing derivatives is in-built on Tastyworks. If you use the downloadable version, you will not have to go to the website for any analytical task.
You can pick and choose between which options you want to use at the moment. You can close the ones you do not want to use. They will always be available should you need them in the future.
The charting capabilities present at Tastyworks are specially catered to options traders. You can analyze the combined position even when there are multiple positions on a certain underlying. You can also modify an existing position using the chart. Make sure to quickly enter the order.
There are many advanced features present at Tastyworks. However, fret not; with the help of Tastywork’s tutorials and guided content, you will be able to master them in no time.
There are numerous pre-recorded videos. Additionally, you will also get weekly videos from Tastytrade. They are filled with the latest trading ideas and last for a few hours.
Low Trading Fees
One of the biggest benefits of Tastyworks is its low trading fees. You only have to pay $1 per contract. This is for the complete operation. This acts as a small commission when you are about to trade micro futures and options.
You even get free stocks and ETF trades. Compared to most other platforms, this is an extremely cheap and affordable option.
Cons of Tastyworks
The next stop on our Tastyworks reviews and sign up promotion article is to look at some of the cons of this trading platform. To get a comprehensive idea of all that it can entail, it is important to look at the cons of this platform.
Advanced Features Which Can be Overwhelming
Although Tastyworks is a relatively new platform, it is a popular one. This is why it attracts a lot of users, many of whom are new to the world of trading. Faced with the advanced featured of Tastyworks, it is easy to feel lost.
The learning curve for Tastyworks is particularly steep because it is mostly made for experienced traders. While other platforms hide their more advanced features in expanded tool sets, Tastyworks does not do.
No Fixed Income Trading Option
You might want to move some of your assets to more conservative asset classes. With Tastyworks, however, you will get no such option. This is because they offer no fixed income trading option.
The only option as an exception to this is ETFs. They contain bonds.
Unfortunately, Tastyworks offers only a basic analysis of profit and loss. This might suffice if you are a beginner but is quite insufficient if you are an expert trader.
In case you want to analyze your portfolio beyond these basics, you have to sign up for The Quiet Foundation. It is a separate website that falls under the Tastytrade umbrella.
The Tastyworks Sign-Up Promotion
Are you looking for an incentive to join Tastyworks? It gets no better than this! The current promotion provides you with 100 shares of stocks when you open a cash or margin account.
The Tastyworks team offers some of the most beneficial promotions. For this current offer, you must sign-up before the end of the promotional period, which is the 31st of December, 2020.
Within approximately a month of your account is funded with $2,000, you will receive the stocks. It is necessary, however, that the funds remain in your account for at least three months. It will be counted from the day the shares are deposited into your account.
You can sell your shares, but you cannot withdraw the initial deposit or what you will receive on the sale of your promotional stocks during this period. If you do not conform to these conditions, the shares or their monetary equivalent will be taken away from your account.
There is another Tastyworks promotion that is currently active. It is in the form of a trading challenge. With this promotion, you have an opportunity to win $250!
As a part of this challenge, you have to test drive a simulated Tastyworks account. There are several promotions like these. Keep checking back to avail the most of them.
Overall, Tastyworks is a good place for all those who are interested in trading. With this Tastyworks review and sign up promotion article, equip yourself with the necessary know-how of Tastyworks. Consider your needs and purpose and sign up for Tastyworks for a good experience of trading!