tastytrade Review

Active options, futures and multi-asset traders

FINRA SIPC NFA CFTC NYDFS

Why investors choose this broker

Stock and ETF trades have $0 opening and closing commissions
Stock and ETF options close for $0 per contract
$10 max commission per leg on stock and ETF options
Fractional shares have $0 opening and closing commissions

Review summary

tastytrade is a multi-asset broker focused on active traders, with stocks, ETFs, options, futures, forex and crypto plus web, desktop, mobile and API access.

Pros

Stock and ETF trades have $0 opening and closing commissions
Stock and ETF options close for $0 per contract
$10 max commission per leg on stock and ETF options
Fractional shares have $0 opening and closing commissions
Recurring ETF investments from $5 to $100K
API supports read, write and trade access
Crypto holdings can transfer to external wallets
No minimum account balance for CME futures in a margin account

Cons

Crypto markup/markdown is 50-75bp of executed order price
Crypto is not covered by FDIC or SIPC
Crypto cannot be traded on margin
Stablecoin withdrawals are not currently supported
Futures accounts are not protected by SIPC
IRA futures need $25,000 for standard CME contracts
Basic margin accounts cannot trade futures
Cash accounts cannot trade forex or futures

Company background

tastytrade is a brokerage platform built for active traders. Its website presents trading in stocks, ETFs, fractional shares, options, futures, futures options, forex and cryptocurrency. The product mix is broad, and the platform is positioned around self-directed trading rather than managed portfolios. Individual, retirement and joint accounts are described, while account permissions depend on tastytrade's suitability requirements and approval.

Fees and pricing

Pricing is centered on explicit commissions. Stock, ETF and fractional share trades have $0 opening and $0 closing commissions. Stock and ETF options cost $1 per contract to open, with a $10 maximum per leg, and $0 per contract to close. Broad-based index options cost $1 per contract to open and $0 per contract to close. Futures cost $1 per contract to open and close, while micro futures cost $0.75 per contract each way. Options on futures cost $1.25 per contract each way, and options on micro futures cost $0.75 per contract each way.

Cryptocurrency trades have $0 opening and closing commissions, but Zero Hash receives a 50-75bp markup or markdown of the executed order price. Exchange, clearing and regulatory fees still apply to opening and closing trades, except for cryptocurrency orders.

Regulation and safety

tastytrade, Inc. is listed as a member of FINRA, SIPC and NFA. It is registered with the CFTC as an Introducing Broker for forex accounts introduced to tastyfx. SIPC coverage for accounts at tastytrade is described as up to $500,000, including up to $250,000 for cash, in case of firm insolvency. Futures accounts are not protected by SIPC, although customer futures account positions and cash balances are segregated by Apex Clearing Corporation. Cryptocurrency services are provided through Zero Hash, and crypto assets are not covered by FDIC or SIPC protection.

Platform experience

tastytrade offers web, desktop and mobile access, with iOS and Android app links shown on its website. The web platform includes backtesting, charting, an active trader ladder, AI Search, journaling and fixed-income access. The desktop platform includes an analysis tab, charting and a depth-of-market ladder. The API provides read and write access for account data, orders, watchlists, real-time quotes, option chains and trading across equities, options, futures and crypto.

Pros and cons

The main strengths are the $0 stock and ETF commissions, capped stock and ETF option opening commissions, active-trader tools and API access. The main limitations are concentrated in product restrictions and protection gaps: crypto is not covered by FDIC or SIPC, crypto cannot be traded on margin, stablecoin withdrawals are not currently supported, and futures accounts are outside SIPC protection.

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Open an account directly with the broker. Confirm current fees and account eligibility on the broker's website before depositing.

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Your capital is at risk. Other fees apply.

Trading fees & commissions

Stock, ETF and fractional share trades have $0 opening and closing commissions. Stock and ETF options cost $1 per contract to open, capped at $10 per leg, and $0 to close. Crypto trades have $0 commissions, but Zero Hash receives a 50-75bp markup or markdown of the executed order price.

Fees

Item	Fee
Crypto	$0 opening commission; $0 closing commission; 50-75bp markup/markdown of the executed order price
Account	No subscriptions
Futures	Futures: $1 per contract opening; $1 per contract closing
Options	Stock & ETF Options: $1 per contract opening, $10 max per leg; $0 per contract closing
Index Options	Broad-Based Index Options: $1 per contract opening; $0 per contract closing
Micro Futures	Micro Futures: $0.75 per contract opening; $0.75 per contract closing
Futures Options	Options on Futures: $1.25 per contract opening; $1.25 per contract closing
Fractional Shares	$0 opening commission; $0 closing commission
Micro Futures Options	Options on Micro Futures: $0.75 per contract opening; $0.75 per contract closing
Exchange Clearing Regulatory Fees	Applicable exchange, clearing, and regulatory fees still apply to all opening and closing trades, except for cryptocurrency orders.

Trading platform & features

Platforms

Web app
iOS app
Android app
Desktop app
API

Regulation and investor protection

tastytrade, Inc. is a member of FINRA, SIPC and NFA, and is registered with the CFTC as an Introducing Broker for forex accounts introduced to tastyfx. SIPC coverage is described as up to $500,000, including up to $250,000 for cash, while futures and crypto accounts are not protected by SIPC.

Broker FAQs

Is tastytrade safe?

tastytrade, Inc. is a member of FINRA, SIPC and NFA. Accounts at tastytrade are described as backed by SIPC coverage of up to $500,000, including up to $250,000 for cash, in case of firm insolvency.

Is tastytrade a scam?

No. tastytrade, Inc. is a member of FINRA, SIPC and NFA, and it is registered with the CFTC as an Introducing Broker for forex accounts introduced to tastyfx.

Is tastytrade regulated and by whom?

tastytrade, Inc. is listed as a member of FINRA, SIPC and NFA. It is also registered with the CFTC as an Introducing Broker for forex accounts introduced to tastyfx.

What happens to my money if tastytrade goes bankrupt?

Accounts at tastytrade are described as backed by SIPC coverage of up to $500,000, including up to $250,000 for cash, in case of firm insolvency. Futures and crypto accounts are not subject to SIPC protection.

Does tastytrade keep client funds in segregated accounts?

All customer futures account positions and cash balances are segregated by Apex Clearing Corporation. This statement is specific to futures accounts.

What products does tastytrade offer?

tastytrade lists stocks, ETFs, fractional shares, options, futures, futures options, forex and cryptocurrency. Account permissions depend on suitability requirements and approval.

What does tastytrade charge for stock trades?

Stock trades have $0 opening commission and $0 closing commission. Fractional shares are also listed with $0 opening and closing commissions.

What does tastytrade charge for ETF trades?

ETF trades have $0 opening commission and $0 closing commission. tastytrade also offers a Recurring ETF Investment Tool for weekly, bi-weekly or monthly investments from $5 to $100K.

What does tastytrade charge for options trades?

Stock and ETF options cost $1 per contract to open, capped at $10 per leg, and $0 per contract to close. Broad-based index options cost $1 per contract to open and $0 per contract to close.

What does tastytrade charge for futures trades?

Futures cost $1 per contract to open and $1 per contract to close. Micro futures cost $0.75 per contract to open and $0.75 per contract to close.

Does tastytrade offer crypto?

Yes. tastytrade lists 20+ crypto assets, including Bitcoin, Ethereum and XRP. Crypto transaction and custody services are provided through Zero Hash.

What does tastytrade charge for crypto trades?

Cryptocurrency trades have $0 opening and closing commissions. Zero Hash receives a 50-75bp markup or markdown of the executed order price, of which tastytrade receives 65%.

Can I buy fractional shares on tastytrade?

Yes. tastytrade lists fractional shares with $0 opening commission and $0 closing commission.

Does tastytrade have a mobile app?

Yes. tastytrade links to an iOS app on the Apple App Store and an Android app on Google Play.

Does tastytrade have an API?

Yes. The tastytrade API provides read and write access, including account balances, positions, orders, transaction history, real-time quotes, option chains, watchlists and order execution.

Can I trade crypto on margin at tastytrade?

No. Crypto has to be fully paid for and cannot be traded on margin.

Can tastytrade crypto be transferred to external wallets?

Yes. tastytrade says crypto owners can transfer holdings to external wallets, with Zero Hash acting as custodian.

Can I fund tastytrade with stablecoins?

Yes. New users can fund an individual tastytrade account by depositing $1 or more of select stablecoin tokens, including USDC, USDT, PYUSD and RLUSD. Stablecoin withdrawals are not currently supported.

Bottom line

tastytrade suits active traders who want options, futures, stocks, ETFs, forex and crypto on web, desktop, mobile and API platforms. It may not suit users who need SIPC coverage for futures or crypto, crypto margin trading, or currently supported stablecoin withdrawals.

tastytrade

Active options, futures and multi-asset traders

Open Account

Your capital is at risk. Other fees apply.