Tom Sosnoff, the co-founder of the wildly popular thinkorswim platform used by TD Ameritrade, has created an even better platform called Tastyworks. Fans of the Tastytrade network will recognize the easy to understand layout he uses to help regular people learn to trade options.
Tastyworks makes options trading for beginners extremely affordable with its low fee structure (NO COST TO CLOSE ANY OPTIONS TRADE!). Even experienced option traders will benefit from the low pricing.
Tastyworks charges just $1 per opening trade on options contracts. When I first started to learn how to trade stock options, I was paying $7.95 + $1 per contract to open, and $7.95 +$1 per contract to close. Not having a lot to invest with, I would trade 1 lots, so I was paying $17.90, in fees after I bought and sold.
Now a beginning trader can pay only $1 in fees to open a trade, and ZERO to close an option contract.
On stock purchases, you only pay $5.00 to buy, and again ZERO to sell. You can buy 1 share or unlimited shares, $5 to buy, zero to sell.
Here is how a 1 lot would trade with compare with other brokers.
You can see above that Tastyworks account will keep more of your money in your pocket, which is really the way it should be.
Even experienced traders with large accounts should consider switching to Tastyworks, because for 2018 and beyond they have CAPPED COMMISIONS.
So as your account grows, you won’t be getting killed on commissions as you trade bigger. To me, Tastyworks seems to be thumbing its nose at the competition. Smart money is with tastyworks.
Tastyworks is the best brokerage for people who want to
- Learn to trade stocks
- Learn to trade stock options
- Long term investors
- Experienced stock traders
- Experience options traders who want lower fees
- Futures traders who want lower fees
- Self-directed investors of all levels
TASTYWORKS IS FOR BEGINNING AND EXPERIENCED TRADERS
The format is visual, and intuitive. It doesn’t matter if you are trading stocks, options, ETFs, and futures. The focus is on “see it, click it, trade it” style that you can trade on a desktop, a web browser or mobile phone.
With the downloaded desktop app, you can follow the show while you trade. The focus with Tastyworks is more on teaching how to trade than to take your fees. You can’t get this from any other broker. They don’t teach this in any class. And nobody else is giving away this much free education.
The desktop down load works best for high-volume traders who need a complete tool-set of features coupled with fast performance. The desktop app gives you
- Lightning-fast price quotes and speeds
- Advanced multi-account ability and updates
- An easy to understand dashboard layout
Or if you trade on a computer or laptop that you can’t install software on, (like school or work) you can just use any web browser to trade, and still have access to all the tools and strategies you need to beat the market.
I prefer this method, because sometimes I’m at home, sometimes I’m at work, sometimes I’m on my personal laptop, etc.
I like the flexibility of web-based software. Tastyworks uses technology powerful enough to feel like I’m using a desktop application, without requiring me to install software on every computer I use throughout my day.
In addition to trading stock options with Tastyworks, my favorite features are
- You can follow the Tastyworks experts’ trades on the “Follow” page, and recreate the trades in your own
- Get a visual representation of your trades easily using the Trade Curve feature
- Go back and see your trade history of your trade chain under Analyze
I like this feature when I’m on the bus, or on a quick break. It is fully functional, an easy to use on your smart phone, or iPad. If you just want to check real quick, it is nice to have access to.
Benefits of the mobile interface:
- Feature-rich order entry interface with visuals
- Quick, easy way to open, close or roll positions
- All the best features from the full-sized apps, just smaller
Regardless of how you trade, you have access to all three when you open a Tastyworks account. You can log in different ways, at different times throughout your day.
TASTYWORKS WAS DEVELOPED BY TRADERS, NOT BANKERS
Tastyworks platform was created to be
Tastyworks was designed by traders, for traders, not bankers. Traders who want to see other traders succeed. It costs nothing to set up an account, nothing to get started on your path to greatness.
Questions about opening and account or trading stock options? Just want to say something? Leave a comment below!