TastyTrade Review: The Reality Behind This Broker
With TastyTrade broker there are no hidden features. Everything is completely transparent, starting with software, trading costs and trading features.
Of course, that is expected from US-based and regulated brokers. But what makes this broker stand out in front of many you can discover in this TastyTrade review.
Who Is TastyTrade Broker?
The company TastyTrade is registered in Chicago, Illinois – United States. Since 2017 they provide trading services successfully mostly in the United States. Important to realize is that this company just recently changed its name from Tastyworks.
Another key fact is that the company is created by a big group of traders coming from ThinkorSwim. That’s a worldwide-known brokerage. The key advantage of TastyTrade is the experience that those members bring to the company to ensure the highest quality service.
|Legal name:||Tastytrade Inc.|
|Registered in:||United States|
|Financial Authorities Warnings:||N/A|
|Contacts:||Phone: 888-247-1963, 312-724-7075
|If a withdrawal is possible:||Yes|
|Fees:||Fully transparent banking, trading, options and miscellaneous fees|
|If Active on Social Media:||Yes – Twitter, LinkedIn, Facebook, Youtube|
|Investor Protection:||Yes – Segregated fund accounts, liquidity providers, crypto deposit insurance|
TastyTrade Regulation and Security of Funds
The most important feature that a company should have is regulation. In general, regulation ensures transparency and security for traders. In this case, the company obtained the highest-valued licenses. Primarily from the SEC, but also FINRA and NFA.
With this in mind, you can understand why everything is transparent with this broker. On top of that, the company ensured traders multiple funds protection measures. Firstly, with segregated funds accounts. Secondly, with deposit insurance on crypto transfers. However, nowhere is to be seen negative balance protection.
TastyTrade Broker Profile
With a proprietary platform and real-market data from Nasdaq, they ensure the highest trading quality. Thus, the company misses one very important feature. That is demo account availability.
Even though there are no minimum deposit requirements, you can’t test the platform without making a deposit. Which exposes you to risk. More features of this broker you can find listed below.
|Trading platforms:||Proprietary TastyTrade platform|
|Account types:||Standard, Retirement, Entity, International|
|Financial Instruments On Offer:||
|Maximum leverage:||Up to 1:10|
|Commissions/bonuses:||1% commission for crypto, up to $2.5 per contract/open position on other/ No bonuses available|
|Education or Extra tools:||Copy trading, IN-platform video feed|
Is TastyTrade Broker Safe?
Considering all their security and regulations, yes. Even though every trading experience is risky in some way. On the positive side, regulations require full transparency from the broker. So, there is no misleading in terms of commissions and fees. On top of that, their liquidity providers ensure protection for traders.
Now, the downside of the TastyTrade app is that it doesn’t show negative balance protection and demo account availability. Thus, the company has very low leverage. If you know what you are doing, there shouldn’t be much trouble. However, inexperienced traders don’t have options to trade without risk.
On the other hand, you have an in-platform video feed and copy trading options. This can save you a ton of time to learn how to trade. Instead, you can find traders to follow and just copy their trades.
TastyTrade Traders Reviews – Sharing Experiences
As with any other broker, you can always find positive and negative reviews. It’s important to diversify fake from real ones. But also to understand the meaning and point of those.
Generally speaking, TastyTrade reviews are quite positive. However, some traders mentioned some potential issues with this broker. Mainly regarding technicalities, customer support quality, and margin calls. Trustpilot Review.
If you need a reliable and trusted broker with minimum flaws on your side, don’t hesitate to get in touch with us. We can narrow the list of those for you. Ultimately, it’s your decision in the end.
How TastyTrade Platform Reach Clients and Who Are They?
TastyTrade broker is running an affiliate program but also multiple social media platforms. It’s not rare these days that companies use trusted platforms like LinkedIn. In fact, that raises credibility among traders. However, with successful brokers, the main source of new clients is always a referral program. Generally speaking, everyone would recommend a good broker if they find it.
That’s why we are here in the first place. To provide you with all necessary information about the companies so that you can choose the right one. To get a whole bigger list of regulated and trusted brokers, you can contact our team today.
As for the demography of the TastyTrade users, they mainly come from:
- United States
- United Kingdom
Thus, they don’t provide services in countries where they are not authorized to do so.
TastyTrade Deposit and Withdrawal
Generally speaking, all the options available are fully transparent. However, all these options have quite a long processing time. Some even up to 10 business days. Mainly because of verification procedures along the way. Which raises the credibility of those transfers. Those options are:
- Bank transfers
- Wire transfers
- Transfer from another account
As can be seen, there are no fast deposit or withdrawal options like cards or e-wallets. As for withdrawals those can be performed through any given method. But traders should have in mind that fees might be included. Especially for wire transfers that are high overall. For domestic wire transfer $25 and for international $45 fee.
Our Safe Trading experts’ opinion of TastyTrade broker
If you are reading this article you like making money. But to do that in the trading world nowadays, you need to be sure about the broker. Primarily about the security and protection that those provide for you. Our team which is daily analyzing worldwide brokers is there to inform you about the latest updates on brokers.
Most importantly, you don’t have any pressure or obligation to follow the recommendation. But definitely, you will get a bigger picture of what to look for. Also, you can get advice if you ever had any difficulties with some brokers. Have in mind, that the first consultation is completely free. Book your consultation already today!
Is TastyTrade Trustworthy?
To sum it up, yes. The company has the necessary regulations and full transparency. Even though there are minor disadvantages like missing demo account and high fees.
How To Start Trading Safely?
Choosing a broker is hard because of so many available. Finding the right one is an exhausting process. Therefore, leave it to professionals and enjoy the results. Ultimately, you choose.
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