Is TastyWorks the ThinkOrSwim Next Generation?
TastyWorks Review 2019: ThinkOrSwim is great. I’ve been using it since 2003. The fact that it served as the ‘top gun’ trading platform for 20 years is remarkable – few things in the fast-paced digital world last that long. The same creative team that created TOS has now created TastyWorks.
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A special note to regular readers of this Selling Commodity Options blog: Readers of this blog and of my books often email me and ask: “Which broker do you think I should choose?” Until now, I have remained rather neutral – and recommended two or three brokers that I knew had SPAN minimum margins, low commissions, and good trading platforms. As you may know, I have been using primarily ThinkOrSwim. A few months ago, I opened a new account with TastyWorks to give them a try. I have decided to endorse TastyWorks and recommend them – and I would not do so unless I thought they were the best product. They have SPAN minimum margins and lower commissions. I think most new traders in commodity options will find the TastyWorks software much easier to learn and use than other brokers; that is the primary reason I am going to recommend them.
You may or may not know that the same team that created ThinkOrSwim has created TastyWorks trading software. Simply put, I think they have a better platform than TOS, so I decided to recommend them. One of the creative people in this team is Tom Sosnof, a host on TastyTrade TV. They are a young team and have a reputation for being a little anti-Wall Street in that they break traditions like scaling commission rates lower for the most active customers and charging small customers higher rates. TastyWorks gives all account sizes the same low rates. By the way, TastyWorks also serves about 40 countries internationally – even though they only started up in 2017.
Same Low Commission Rates for Everyone
With TOS, I recall negotiating my commission rates at least two or three times, and still I found out some of my buddies had an even lower rate than mine. TastyWorks is much more democratic. They have only ONE commission rate and they give that same lower rate to everyone – everyday, all day long.
TastyWorks Review: What’s It Like to Open a TastyWorks Account?
I did the whole application online in five minutes. This included funding my account via ACH (free to-and-from your bank account.) No wiring money, no fees to fund my account, and it only took two days to be up and running. It doesn’t get any easier than this. It is a very streamlined application, short and to-the-point. They have an account option called “the works” which means I got stock, commodities, margin account, and options authorization all at once. No going back to add on things later. If you are going to sell commodity options you will need “the works.” The minimum account size to get “the works” is only US$2000.
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Software Installation
Downloading the software and installing it took me less than two minutes. They have iOS, Android, and a browser version and I had zero problems getting my Macbook Pro, iPad, iPhone and my Windows PC desktop up and running. The customer support is fantastic, live operators who know their stuff.
Learning the Software at TastyWorks
Although I love ThinkOrSwim, there are two areas where TastyWorks excels: The lower commissions and the ease of learning to use the software.
Stocks, Commodities, and the best options-trading software I’ve ever seen. Plus, there is no better way to learn option-trading than to use the TastyWorks platform. The stock-option simulator may be one of the best teaching tools ever devised for the personal trader to learn option-trading. You need an on-line discount broker that has it all:
TastyWorks is quick and easy. Very visual and concise software.
Check out TastyWorks, here’s my affiliate link to them: HERE or Click this button please:
Don A. Singletary
This affiliate link takes you to the authentic and secure TastyWorks account application at their website.
