Detailed tastyworks Broker Review
Tastyworks is a young American company that specializes in the trading of options. Tastyworks was founded in Chicago in 2007. This organization is absolutely secure because it is regulated by the organs of the highest level of US FINRA.
This system fits perfectly both for advanced investors and also for depositors who look for viable pricing.
• Three platform options make trading options more convenient;
• Free account opening;
• There are no minimum balance requirements;
• Absence of penalties for inaction;
• Access to the educational channel tastytrade;
• One of the cheapest brokerage companies;
• Special tools and options for active traders;
• Restrictions on commodity options (the platform is for trading futures and options mainly);
• The ability to invest exclusively in US-oriented financial assets;
• It is not good for beginners and passive traders;
• Limited analysis and research tools.
How to open account with Tastyworks
Tastyworks accept clients from many countries. This list includes almost all countries of Euro union, the better half of the Central and Southern America, Turkey, India, New Zealand, Indonesia. It is quite easy to open an account with Tatyworks. The client has to go through the registration at Tastyworks. The following data is required.
- Bank details;
- Personal data (social security number);
- Copies of the address and ID.
After registration, it takes usually no more than three days for approval.
Tastyworks offer individual citizens two accounts marginal and cash.
Tastyworks offer individuals two accounts: margin and cash. With a margin account, a trader has the opportunity to use a leverage, that is, to borrow money from a broker to trade. There is no minimum deposit for a cash account. In order to preserve margin privileges, you need to deposit your account with at least $2000. There is a joint account that allows you to have more than one owner.
US citizens have access to a pension fund.
It is worth noting that tastyworks works with dollar bills only. Any currency entered is automatically converted into a dollar.
Tastyworks gives an opportunity for traders to work on three trading platforms.
Desktop has been created for a big traders. There are all range of functions: instant correction, good execution speed, clear dashboard and workflow layout, all kinds of support for multiple accounts and reporting.
The browser platform allows you to access from any PC and provides all the functionality as a downloadable version. Follow page is differentiating feature of the web version. It can track the trade curators of the company. The trade curve makes it easy to visualize transactions. The TradeHistory function helps to analyze trader’s transactions.
The mobile terminal is available for both Android and iOS. This platform has a multifunctional interface with visualization for entering orders, it also has quick and simple methods for closing or rolling positions.
You can see graphics on the pages of trading and nets which indicates the cost, volatility and options volume. The base tools graphics are also visible on the trading pages.
Testyworks service desk
Tastyworks has it is own service desk on the site. You can get help applying in such sections like: “tax center”, “start of the work”, “opening and running account”, “deposits, withdrawing and transactions”, “trading”, “platform and software”.
“Live chat” is also available for clients Tastyworks. Consultants answer to a point of interests from 7 to 17 from Monday to Friday apart from holidays. Chat is only in English, which is the essential disadvantages for many.
The training materials of this company are modern and useful. They are presented in video format. Videos are high quality and affordable. The most popular among them is the introductory video lesson of the Rachel “Stepuptooptions “ course. The disadvantage is the lack of a demo account.
As Tastyworks is regulated by FINRA (a financial services industry regulatory service), the investor is protected by US investors. Funds and securities of a trader are protected in case of a broker’s bankruptcy.