TD Ameritrade vs Tastyworks


2022: TD Ameritrade/thinkorswim vs Tastyworks. Compare brokerage fees, options/futures accounts, & stock trading platforms. Which broker is better?


Overview of tastyworks and TD Ameritrade


With new commission schedules, TD Ameritrade and tastyworks look rather similar. Or do they? Before choosing one broker over the other, make sure you read the following detailed examination:


Cost


Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
TD Ameritrade $0 $49.99 ($0 to sell) $0 $0
Tastyworks $0 na $0.50 per contract $0 $0


Services


Broker Review Cost Investment Products Trading Tools Customer Service Research Overall Rating
TD Ameritrade
Tastyworks


Promotions


tastyworks: $0 commissions + $75 for each friend referred with this referral code.

TD Ameritrade: $0 commissions + transfer fee reimbursement.



Investment Vehicles


If a brokerage firm doesn’t offer the products you want to trade, then obviously there’s no point in opening an account with them. This is where you need to start.

tastyworks customers can buy and sell options, futures, options on futures, stocks, ETFs, and closed-end funds.

At TD Ameritrade, investors get this same smorgasbord plus mutual funds, fixed-income securities, and forex.

Both brokerage houses offer bitcoin futures. tastyworks also has crypto-currencies.

TD Ameritrade is the winner in the first category. Now, let’s have a look at education.


Learning Materials


tastyworks offers free access to tastytrade, the company’s educational arm. tastytrade produces a live video stream during market hours, and on-demand videos are saved for tastyworks’ clients. We found segments on implied volatility and trading in the face of risk.

Stock profiles at tastyworks have limited amounts of information. There are no pdf reports from any analysts; and surprisingly, the broker-dealer doesn’t have a stock screener. Basic trade data will be found on tasty’s platforms, such as the day’s volume, bid-ask spread, and the number of days to earnings.

We did find a stock screener (and a very good one) at TD Ameritrade. Moreover, free equity reports from third-party analysts are available. Like tasty, TD Ameritrade operates its own video network. It also provides a free stream of CNBC.

For general financial education, there are many articles and videos on the TDA website. During our inquiry, we identified materials on goal planning for retirement, the basics of ETFs, how to save for education using tax-advantaged methods, and cross-over patterns in technical analysis.

TD Ameritrade is the better choice here.


Mobile Apps


TD Ameritrade customers get to use 2 apps. The first is a thinkorswim platform that offers a lot of powerful trading tools, such as very sophisticated charting and an order ticket with lots of advanced features.


Ameritrade vs tasty works


Charting comes with several hundred technical studies and 20 drawing tools. A chart can be rotated horizontally, which of course helps with technical analysis. Only candlesticks are available, which is one disadvantage.

The other app delivers what the thinkorswim platform doesn’t. These features include mobile check deposit, an economic calendar, market news (including market movers), news articles, educational videos, funds transfer, Level II quotes, and more.

tastyworks has one app, and it doesn’t offer Level II quotes, mobile check deposit, an economic calendar, or advanced charting. There are no technical studies or drawing tools. A chart can be rotated horizontally, though.


tastyworks or Ameritrade


The order ticket on the tasty platform offers market, limit, stop market, and stop limit orders. The thinkorswim app offers market- and limit-on-close, trailing, blast all, and OCO orders.

It’s TD Ameritrade again.


Websites


The tastyworks website offers mostly account management services. It’s possible to download tax documents, look over statements, and transfer funds. There are no tools for security research or trade placement, however.

For these functions, the broker provides a browser platform. It is very similar to the company’s desktop program, which we’ll look at next.

TD Ameritrade customers don’t get a browser platform. But they do get a very useful website. On top of many account management features, there are several tools for research, charting, and order entry.

SnapTicket is a trade bar that appears on the broker’s website. It can send orders to the major exchanges for ETFs, closed-end funds, equities, and options.

Charting is available on the TDA site in full-screen mode. Highlights include company events, trendlines, comparisons, and technical studies. Bonds and mutual funds can be traded on TD Ameritrade’s website. And we really liked the broker’s IPO Center.

Another loss for tastyworks.


Desktop Trading


tastyworks has a desktop platform. But it doesn’t go much further than its browser cousin. We found multiple watchlists, real-time trade data, live and on-demand videos from tastytrade, alerts, and brief stock analysis.


tasty works vs TD Ameritrade


Charting offers 4 display styles, over 100 technical indicators, and several drawing tools. A graph cannot be displayed full-screen, one weakness.

TD Ameritrade’s desktop platform offers very advanced charting with full-screen mode. There are hundreds of technical indicators, many drawing tools, several chart styles, and right-click trading, which tastyworks’ platform doesn’t have.


Thinkorswim vs tastyworks


For research, TDA’s software has several screeners that can perform searches based on many criteria. And for video news, the platform provides access to CNBC and TD Ameritrade Network.

Definitely TD Ameritrade.


Futures


Both firms offer trading in futures contracts. On the tasty platform, there are two futures watchlists pre-installed: one for futures and another for micro contracts. Videos from tastytrade discuss futures strategies.

TD Ameritrade’s website has videos on futures trading topics, such as how to place a futures trade. There is a self-guided course on futures that lasts 1 hour and 40 minutes. On the desktop platform, there are dealing boxes to make order entry a simple process.

With a lower commission, tasty is the better value here.


Day and Swing Trading


Extended Hours: Both companies offer pre- and post-market trading.

Level II Quotes: tastyworks does not offer Level II quotes, although TD Ameritrade does.

Margin: tastyworks imposes a 25% maintenance requirement for long stocks. TDA customers must maintain at least 30%. tastyworks' margin rate starts at 8% while TDA's is at 11%.

Overall, we'll take tastyworks here.


Other Services


Dividend Reinvestment Program: DRIP service is available at both brokers.

IRA’s: Both firms offer Individual Retirement Accounts. TD Ameritrade, but not tasty, has a SIMPLE IRA.

Automatic mutual fund investing: TD Ameritrade offers this service.

TD Ameritrade is the outperformer here.


Finally, Our Recommendations


Beginners: TD Ameritrade has much better learning materials, especially for new investors. It also has better customer support.

Mutual Fund Traders: TD Ameritrade of course.

Long-Term Investors and Retirement Savers: In addition to financial planning services, TD Ameritrade offers solo 401k’s, pension plans, and profit sharing plans for small businesses. Easy pick.

ETF and Stock Trading: TD Ameritrade’s research materials and professional-level trading software give it the nod.

Options Trading: TD Ameritrade’s website and desktop platform have better options-trading tools than we found at tastyworks. But tastyworks is cheaper here.

Small Accounts: Either firm will do.


Promotions


tastyworks: $0 commissions + $75 for each friend referred with this referral code.

TD Ameritrade: $0 commissions + transfer fee reimbursement.



TD Ameritrade vs tastyworks Verdict


TD Ameritrade won every category except futures trading and day trading. If tasty wants to compete with the industry’s heavyweights, it will have to come up with more. However, anyone who wants to easily see what professional traders are currently buying and selling and, perhaps, follow some of them, will find tastyworks to be a great broker.



About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for Brokerage-Review.com, Chad can usually be found managing his portfolio or building a new home computer.