Tastytrade Help Center (2024)

FAQs

What happened to Tastyworks? ›

As one of the fastest-growing online brokers, we think it's time we matched the name of our brokerage to what you do here: trade. Thus, starting February 21st, 2023, the do-it-yourself broker you know and love will now be known as tastytrade.

For any futures trading-related questions or if you need help in the overnight session (5:00 PM-7:00 AM CST), please email us at futures@tastytrade.com, and one of our representatives will get back to you shortly.

The Bottom Line: Is tastyworks legit? Yes. (Note: The company is now known as tastytrade.) Founded by former option floor traders in Chicago, tastytrade (formerly known as tastyworks) seeks to serve retail options traders by giving them an excellent platform with tons of educational resources.

Stocks and ETFs settle trade date plus two business days, or more commonly known as T+2, and options settle the next business day (T+1).

The brokerage started adopting the new name on Tuesday. IG Group acquired Tastytrade (now Tastylive) for $1 billion in June 2021.

The company is run by the founders along with Linwood Ma, former Thinkorswim manager, and JJ Kinahan, former CBOE Floor Trader. Tastytrade was part of an acquisition by IG Group in 2021.

On Thursday, global trading platform IG Group announced that it was acquiring Chicago-based tastytrade at a purchase price of $1 billion. tastytrade operates a network of content that is meant to inform people about the ins and outs of investing in the stock market and equities.

Scott Sheridan

CEO, tastytrade, Inc.

tastytrade was previously known as tastyworks, Inc. (“tastyworks”). tastytrade offers self-directed brokerage accounts to its customers.

Yes, your money is safe. Tastytrade is a member of the Securities Investor Protection Corp., or SIPC. Your account is covered against broker insolvency for up to $500,000 per customer (of which $250,000 can be in cash).

Is Tastyworks better than Webull? ›

After testing 18 of the best online brokers, our analysis finds that tastytrade (84.9%) is better than Webull (84.5%).

If you can't meet your daily lifestyle, your day-to-day living, or you're in debt, you should quit trading immediately. This is one of the major signs when to stop trading. Trading is not like a job that pays you a fixed income where there's a fixed payout every month, it doesn't work that way.

There is no minimum account balance or funding requirement to open a margin account at tastytrade. However, if you wish to gain margin privileges, which allows you to buy stock or ETFs on margin, it will require a minimum account balance of $2,000 or more.

What is the difference between tastyworks and tastytrade? Tastytrade, an online trading-focused broker, is the new name of Tastyworks following a rebranding in 2023.

Generally speaking, Robinhood is best for investors who want an easy way to buy, sell, and hold stocks and cryptocurrencies. On the other hand, Tastytrade is packed with features that appeal to more sophisticated investors and traders, and it may not be the best choice for newer investors.