Do you know about Tastyworks? Check out our Tastyworks Review to learn more about this great broker. In fact, having options when it comes to brokers allows you, the trader, to get the best bang for your buck. And who doesn't want to get the best possible deal?
If you're into options trading, this broker has high marks for trading options. Options are a great way to make money in any type of market. When the market is up, down and even sideways, there's a strategy to profit.
But, if stock trading is your only focus, cheaper brokers exist.
Not only does this Tastyworks review look at itself, we look at other brokers as well. So you want the bottom line? How do the commission costs to open and close an equity option trade at Tastyworks compared to other major brokers?
Look no farther than the chart below. As you can see,the numbers speak for themselves...
Similar to other brokers, Tastyworks allows trading through three platforms: desktop, browser, and mobile. If you’re an experienced options trader, you will love the ease of use of the platforms.
However, if you are new to options trading, you may find all the features overwhelming.
Generally speaking, the desktop platform is geared towards experienced traders. You get lightning-fast quotes, fast execution speeds, advanced support and an intuitive dashboard layout.
In fact, just like the browser platform, option chains are available. Options prices load quickly and buy/sell trade tickets are easily created just by clicking on bid/call prices.
This is great because options have many moving parts. As a result, worrying about trade execution is something you don't have to do.
You can use the web-based trading platform from any computer. Not to mention it has the same functionalities as the downloadable version.
Be warned, the learning curve is steep. New traders might be intimidated.
Of all the options chains in the world, this perhaps is the most complex. However, once I figured out how to select execution dates and strike prices it wasn't that bad.
Additionally, the mobile platform is very similar to the web platform. What's nice is it's available on both iOS and Android devices.
It's well organized but can feel overwhelming to the new trader. As a result, take your time to learn it. Our trading community is all about taking things slow to get a good feel.
In my opinion, the importance of technical analysis for the day trader is like oxygen for the scuba diver.
Without it, you’re not going to survive to trade or dive another day. That’s the goal right? Hence why our trade rooms delve into the technicals.
Unfortunately, the ability to conduct both technical and fundamental analysis is limited. Compared to other brokers they fall short here.
Thus, this may be a deal breaker for the day trader wanting all of their analysis and execution in one system.
So if you trade stocks based on charts, this is definitely NOT your platform.
Let's take a look at pricing in this Tastyworks Review. The cost of trades is important to all traders. As a result, pricing is the strong point of Tastyworks. When it comes to options they completely blow every other brokerage firm I know out of the water. There is no comparison.
First of all, there is no account minimum at Tastyworks. Secondly, their initial commissions are almost non-existent. And finally, there's no commissions on closing trades. I have not seen any other broker do this.
Additionally, commissions on futures and on options on futures are extremely competitive. In fact, it only costs $1.25 to open and close a futures contract and $2.50 for a options futures contract.
Keep in mind, it will set you back $5 to trade a stock with Tastyworks. This is however in line with comparable brokers such as E*TRADE, TD Ameritrade, and Schwab.
Quite frankly, if you trade options there's no reason why you should use a different platform (we teach you how to open an investment account).
But, if options trading isn't your focus, this isn't the platform for you. After all, even though the fees are competitive for equities and futures, better platforms exist.
At the end of the day, Tastyworks is an EXCELLENT broker for options trading. Since the focus on order execution and fees is unmatched in the industry you won't be disappointed.
Because there's no minimum deposit, inactivity or monthly fees with Tastyworks, give it a try. You've got nothing to lose!
Often commissions eat up the small profits made in smaller accounts. As a result, low commissions are especially great for beginners and traders with smaller accounts.
Bullish Bears want to make trading the market easy and understandable for everyone. We can show you how to trade very small positions and still make money.
For example, in our options trading course, you will learn simple step by step options trading strategies to help you become a more consistent and profitable options trader.
Our videos are simple and focused; unlike those in other options trading courses. Also, the videos in our options trading course will save you a lot of money unlike other courses.
We're a pay it forward community. You and your succes are what's important.
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