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Tastyworks Referral Bonus: $75 Refer a Friend Program Offer (2020)
Tastyworks referral bonus. 2020 Tastyworks
friend refer program offer code to recommend family member to open new account.
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Tastyworks Promotion for New Accounts
Open Tastyworks Account
Tastyworks Friend Referral Bonus
Here is how to get your referrals with Tastyworks:
1. To refer friends, you first
need to open a brokerage account with Tastyworks
(the program is currently available to legal U.S. residents only).
2. Invite friends to open a Tastyworks account by simply sharing your referral link.
3. Once a friend’s application is complete and approved, you will receive $75.
4. There is no limit to amount of friends you can refer.
Tastyworks Overview
A relatively new broker that is geared toward the active trader, TastyWorks is a member of the TastyTrade family. TastyWorks offers a unique pricing structure that caters to the active trader more than your standard broker would. This article will walk you through the strong and weak points of trading with TastyWorks.
What Can I Trade?
With a TastyWorks account you can trade U.S. stocks, ETFs, futures, and options. This is great, however if you’re looking for mutual funds or bonds you’ll need to buy these through another broker because the Tasty platform doesn’t support them.
Trading Costs
Let’s start with the most important topic – trading costs. TastyWorks offers free trades like Robinhood and
M1 Finance to name a few. Opening an options position will cost you $1 per contract with a maximum charge of
$10 per leg.
TastyWorks doesn’t charge you any commissions when you close out your options positions (except for clearing
fees and small regulatory fees). That’s right, they only charge you on the opening transaction, which is why
Tasty’s pricing structure is very attractive for frequent traders. Trading futures contracts is an exception
though, as Tasty charges $1.25 per futures contract on opening and closing trades.
Other Fees
Besides commissions, there are some other smaller fees that Tasty Traders should be aware of. TastyWorks charges clearing fees on most orders, which are 8¢ per share on stocks and ETFs and 30¢ per futures contract.
TastyWorks also offers margin accounts, which many active traders take advantage of to increase their purchasing power. TastyWorks’ margin rates start around 8% and go down to 5% as the amount you borrow increases.
ACH transfers – the most common way of funding your broker account – are free at TastyWorks. Transferring your Tasty portfolio to another broker would incur a $75 fee, and this is typical with most brokers. There are obviously no fees to transfer your account from another broker to TastyWorks. TastyWorks doesn’t charge any maintenance fees or require you to maintain a minimum balance in your account.
Trading Platforms
When it comes to trading platforms, we like the options at TastyWorks. You can choose between a desktop, browser, and mobile platform when placing trades and managing your account. We will point out though that their desktop and web platforms need to be downloaded, as the TastyWorks website by itself doesn’t support trading.
Embedded in the TastyWorks browser platform is a really cool feature that allows you view some of the trades that the Tasty Team and other users are putting on in their accounts, and then easily and quickly replicate them in your own account with the click of a button if you like the position. This is especially helpful for more complex options trades involving multiple legs that take time to size and implement.
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Investor Education
We also like the education offerings that come with a TastyWorks account. If you trade options, you’ve likely heard of the popular TastyTrade broadcast. Because TastyWorks is part of the broader Tasty Family, your account includes free access to eight hours of Tasty Trade broadcasts each week. Where TastyWorks falls behind some of the competition is with their lack of research reports and self-help articles, but these can be found elsewhere on the internet pretty easily.
Customer Service
If you are having difficulties with your TastyWorks account, you can get live phone support or online chat support from 7:00am to 5:00pm Central Time during weekdays. You can also reach out to support via email for less urgent inquires.
Summary
In summary, we like TastyWorks and some of their unique offerings that set them apart from other brokers. Their commission structure, access to Tasty Trade broadcasts, and ability to quickly replicate popular Tasty options strategies within the platform make TastyWorks a strong candidate for day traders.
Tastyworks Promotion
$0 commissions on stocks/ETFs + $75 for each friend referred.
Open Tastyworks Account
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