Tastyworks Review

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Andrew Hayward
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This Tastyworks review will highlight how the trading platform is suited for options trading but not futures trading or mutual funds. The Tastyworks trading platform features are designed to meet active traders needs, including a great set of tools for derivatives traders.

The vast number of trades (98% the Tastyworks review are option trades). Accordingly, the Tastyworks platforms have options analysis and risk management functions far superior to the other brokers on the list if you are mostly trading options.

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Who is Tastyworks

This Tastyworks review has an excellent suite of active investors platform products, from the desktop, web, and mobile app. They cap their commissions on options trades to $10 no matter how many legs are traded, which is targeted directly at the everyday options trader. There are no minimum account requirements, although you do need $2,000 for margin trading.

Tastyworks History

The founders of tastyworks all traded at the Chicago Board Options Exchange

The founders claim to have been forged in the fires of physical floor trading, where they learned exceptional skills about how to trade huge amounts of money without a computer. In the pit they learned how to be smart, creative, and resilient with finance.

They quickly learned to look at the market in a different way. Once they understood the value in leveraging options to sell premium, they needed a new space that would allow them to trade more boldly and efficiently as options and futures traders.

They helped pioneer options trading technology for the retail trader

There was no brokerage or software to help them trade focusing specifically on futures and options with all the features of a professional trading platform. So they built a firm with the services traders need and a platform with the features they wanted to do it their way.

Tastyworks Ratings


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  • Attractive margin rates
  • Watch real world traders in real-time, and even copy their investment strategies with the click of a button.
  • Low trading fees and no inactivity fees.


  • Tastyworks does not offer any trading in mutual funds.
  • It doesn’t offer solo 401(k)’s, or various other simple tax-advantaged categories.
  • Margin interest rates are higher than those targeted to other active traders.
Tastyworks Review Homepage

Tastyworks Products

Options, options, and more options. Basically you can trade options and some futures on the side if you’re interested.

In reality, Tastyworks has access to most account types including IRAs, individual and joint brokerage accounts, and trusts. UGMA/UTMA and Coverdell ESA accounts are coming soon.

Tastyworks Offers

In the past there have been several Tastyworks offers including a great promotion to earn $200, if your friend likes what you’re doing with Tastyworks and is willing to invest $2,000 with you. Both clients receive the referral reward. There is a $200 referral bonus if you have friends are interested. If they become a Tastyworks customer, they receive $200.

Check out the Tastyworks offers section on the website for the most up to date offers

Tastyworks Customer Service

Tastyworks has only has live chat for their customer service, but it works surprisingly well.

Service review from a real customer: “I learned of Tastyworks via Tastytrade informational videos on Youtube. So much practical information is presented in easy to follow videos. I learn something new every time. Tastyworks, the trading platform, may not yet have as robust a charting software as others, but the option analysis function is amazing.

If you are just starting out and don’t know what an option is or trying to brush up on the greeks, the analysis tab is very useful in understanding how options are priced. The support group is pretty great too. Quick response time and always informative.”

Security for Tastyworks

As an clearing firm (Apex) in Illinois, here are the conditions of reimbursement according to the state laws of Illinois and SIPC Protection.

As a member of the Securities Investor Protection Corporation (SIPC), funds are available to meet customer claims up to a ceiling of $500,000, including a maximum of $250,000 for cash claims.

For additional information regarding SIPC coverage, including a brochure, please contact SIPC at (202) 371-8300 or visit www.sipc.org. Apex has purchased an additional insurance policy through a group of London underwriters up to $37,500,000.

This additional insurance policy becomes available to customers in the event that SIPC limits are exhausted and provides protection for securities and cash up to certain limits. Similar to SIPC protection, this additional insurance does not protect against a loss in the market value of securities.

Tastyworks Privacy Policy

Tastyworks is committed to protecting your privacy, particularly with regard to the storage, access, and use of personally identifiable data collected from you. Federal law gives consumers the right to limit some but not all sharing of data.

Federal law also requires us to tell you how we collect, share, and protect your personal information. We will maintain your personal information in a secure format and, except as set forth herein, at no time will we permit anyone to access your confidential information.

There are several important reasons why Tastyworks collects information from you when you open an account and use our services.

The information Tastyworks gather is necessary for us to communicate with you about your account, to process transactions for you, and to comply with applicable laws as well as certain regulatory requirements enforced by FINRA, SEC, NFA, and the CFTC.

Tastyworks collects information to help us safeguard your assets. Additionally, we may choose to gather information to help us assess your needs and preferences or to assist in the troubleshooting and resolution of technical problems.

Tastyworks receives payment from your market flow by firms like Citadel. They do not disclose this anywhere, you have to find it in their disclosures. It’s good that it is somewhere on the website, but it is their biggest revenue source and they definitely make it hard to find on their website. is a controversial practice, and Tastyworks is trying to have their cake and eat it too.

Why can’t I limit all Privacy sharing at Tastyworks?

Federal law dictates which information can be limited by consumers, and which information is important and must be available for sharing in the course of normal business.

Other questions I get asked about Tastyworks

Below are some of the common questions asked about the Tastyworks accounts and the services they offer

Tastyworks Account and Experienced Traders in the Desktop and Mobile Platforms

You can start trading immediately, but given the leverage and risk it will pay off to step back and give yourself a tutorial on the software before you start jumping into trading.

Once ready, you can trade options, futures contracts, adjust implied volatility, execute multi leg options trades through the mobile app.

The trading platforms are best for high-powered, high-volume traders who need a complete toolset of features coupled with stable and fast execution from their online brokers.

Tastyworks has an impressive portfolio analysis, where you can test trading strategies and analyze your portfolio and trading strategy, all with low trading fees (although not the lowest in the discount brokerage space).

Can you lose money with Tastyworks?

Yes, all asset classes can lose money. However, if fraud is involved or other major issues (long technical outage, etc) the SEC and SIPC will pay you $500,000.00 to cover the loss. This does not cover normal market movements.

Is Tastyworks a trustable site?

Tastyworks has a robust security framework to prevent fraud on your account. This includes a full suite of account protections such as Tw0-Fact0r Authentication which uses a 3rd free party program on Google Play and back-end algorithms to protect user data.

What is better than Tastyworks?

Tastyworks is good enough of an online brokerage that there is nothing “better” about them, simply trade-offs. Mutual funds? You want Vanguard. Options?

You want Tastyworks. Both firms execute, they make smart investments or provide intelligent research advice. They have dropped most trading fees, and they all have impressive web, desktop, and mobile apps for trading.

They also all have access to speaking with a human at various times during trading hours, because they know when you are trading and the service goes down it’s a very nervous and difficult time.

How much money does Tastyworks take when you withdraw?

$0 for withdrawal, $2000 for margin account to trade futures in your brokerage account.

How do I cancel my money back on Tastyworks?

It is pretty simple: sell all of your assets, and close the account through the web application.

Does Tastyworks allow selling stocks?

Tastyworks does allow trading in stocks for $1.00/contract to open, $0.00 to close the trade.

What are the Tastyworks Checking Cash, Purchase and Transfer Limits?

Tastyworks has no checking, purchase, or transfer limits with partner banks or the clearing broker (Apex Clearing for Tastyworks).

Monthly Limits

Tastyworks has no monthly deposits or withdrawal limits.   

Is Tastyworks good for beginners?

No, Tastyworks has a great set of trading programs that can generate very complicated options investing strategies. Tastyworks is definitely designed for short term, high volume traders, not beginners.

Can you cancel Tastyworks at any time?

Yes, but cancelling after you liquidate your shares you can empty your account for free. There is no account minimums for Tastytrade, although $2,000 is required to trade on margin. There are no inactivity or transfer fees.

What happens if Tastyworks goes out of business?

Your brokerage is protect by the SIPC and FINRA up to $500,000. This does not cover normal market movements.

Dividends Offered

All dividends are automatically re-invested in the original ETF through a Dividend Re-Investment Program (DRIPs), unless you change the option to add dividends to your account instead.

Can you trade Forex on Tastyworks?

The short answer is yes. The more complete answer is Foreign exchange trading is offered through Tastyworks Forex. Tastyworks Forex and Tastyworks, LLC are separate, but affiliated companies.

Forex accounts are offered to self-directed investors and are not protected by the Securities Investor Protection Corp. (SIPC) or Federal Deposit Insurance Corp. (FDIC). The Forex is integrated into the main Tastyworks platform.

Are Penny stocks tradeable?

Technically yes penny stocks are tradable, but the commission costs for ETFs below $2.00 make it a losing trade from the beginning.

Is day trading illegal?

No, but day trading in Tastyworks is technically called “Pattern Day Trading” and consists of more than 4 trades per week. You have to qualify with Tastyworks and the exchanges to qualify. You should assess your personal financial situation before you apply for PDT (Pattern Day Trading).

How long must you hold a stock to avoid capital gains?

Because long-term capital gains are generally taxed at a more favorable rate than short-term capital gains, you can minimize your capital gains tax by being more relaxed in your options and futures trading, this could also give you a chance to perform a portfolio analysis.

Does capital gain count as income?

Capital gains are generally included in taxable income, but in most cases, are taxed at a lower rate. A capital gain is realized when a capital asset is sold or exchanged at a price higher than its basis. Basis is an asset’s purchase price, plus commissions and the cost of improvements less depreciation.

Final verdict: is Tastyworks any good?

I hope this Tastyworks review has shown that I feel that Tastyworks is excellent, but the asset classes it trades (interactive brokers Coinbase, Gemini, BTC, and Ether) are very risky and if you are new to trading crypto keep your contract numbers very low.

The amount of products is also limited (no mutual fund trades, no micro futures), etc. Their product selection is very limited relative to the power of their desktop platform.

Tastyworks Frequently Asked Questions

What is the margin rate for Tastyworks Customers?

The margin rate for Tastyworks customers fluctuates between 8% and 5% depending on your total deposits, and the base rate is 7%.

Does Tastyworks have a physical location I can go to or mail to?

Yes, Tastyworks does have a physical location and is located at 1000 W. Fulton Market, Suite 220, Chicago, IL, 60607.

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