Can I buy fractional shares on TastyWorks

TastyWorks Fractional Shares


2022: Does TastyWorks offer buying partial (fractional) shares of high value stocks such as Berkshire Hathaway (BRK.A), Amazon (AMZN), Tesla (TSLA), Google (GOOG), or Facebook (FB)?


Buying Fractional Shares on TastyWorks


TastyWorks does not offer fractional shares. Therefore, investors don't have a way to buy stock slices of expensive securities, such as Tesla, Facebook, or Amazon on TastyWorks and at most other brokers. But they can invest in fractional shares of stocks and ETFs with Webull. The broker offers the best pricing ($0 commission), free stocks to get started, great trading tools, fractional shares, community of 11 million members, and much more (read review).


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Overview of tastyworks


If you’ve been considering opening an investment account at tastyworks, the broker-dealer certainly has some advantages. But it also comes with weaknesses in a few places. Here’s the lowdown on this esoteric broker:


Tradable Assets


tastyworks clients can trade stocks, ETF’s, closed-end funds, options, futures, and options on futures. Investments that are missing include mutual funds, cryptocurrencies (other than bitcoin futures), precious metals, warrants, contracts for difference, international stocks, and forex.


Software


Although tastyworks falters somewhat in the number of investment vehicles it offers, it does have some good trading tools. First is a browser platform that offers options trading in both traditional numerical and new graphical formats. Pre-populated watchlists are integrated, and a “Follow” tab shows recent trades by tastyworks top executives.

A desktop platform is also available. Oddly, there’s not much difference between it and the company’s browser software. The trading ticket offers the same interface and order options as the one on the browser system—market, limit, stop, and stop limit order types. A mobile app offers the same interface and order form.


Portfolio Management


tastyworks does not offer any type of financial planning or managed accounts at this time.


Banking Tools


tastyworks clients get zero cash management features. By “cash management features” we mean checks, a debit card, and mobile check deposit. There is an ACH transfer tool on the website.


Retirement Planning


tastyworks recently added Individual Retirement Accounts to its list of account types. Currently, the broker offers Roth, traditional, and SEP varieties. There is no solo 401(k) option; and as already mentioned, no financial advisors to assist with retirement planning.


tastyworks App Review


Security Research


tastyworks offers several avenues of investment research, not least of which is tastytrade, its affiliated investment education portal. All 3 software platforms offer videos (both live and on-demand) from tastytrade. During our inquiry, we found resources on topics ranging from iron condors to the E-mini S&P 500 futures contract.

While tastytrade does provide a lot of great learning materials for futures and options traders, it doesn’t have much of an emphasis on stock trading. Equity profiles show minimal amounts of information.

For Walmart we found details on the number of days to earnings, information on implied volatility, and the bid-ask spread. tastyworks does not offer any third-party analyst reports.


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Comparison


Other brokerage firms do offer third-party stock reports free of charge. For instance, Walmart’s profile at Merrill Edge has pdf reports available from both Morningstar and CFRA.

Some of the investments missing at tastyworks can be found at Interactive Brokers, who offers forex, warrants, and contracts for difference; and Robinhood, who offers cryptos; and Fidelity, who offers precious metals.

Ally Invest customers have access to both managed accounts and banking tools. While we do like tastyworks’ software, E*Trade has better platforms, especially on the desktop.


Judgment


tastyworks is an unconventional brokerage firm that we can recommend for futures and options traders. It doesn’t compete very well against its rivals in other areas; and even its pricing schedule doesn’t wow us anymore.


How To Buy Stock Slices on tastyworks


Currently, tastyworks does not offer buying stock slices, otherwise known as partial or fractional shares.

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.