Tastyworks Account Opening | How to Open Tastyworks Account

Pros

Cons

  • Various account types
  • No Islamic account option
  • High minimum deposit

Introduction

Tastyworks is a new broker in the market. It was founded in 2017 in Chicago. Although Tastyworks is fresh, it’s regulated by top-tier financial authorities including FINRA and NFA, and it’s also a member of SIPC. Tastyworks is not a Forex or CFD broker, but its main products are stocks, options, and futures. The good thing about it is that it has very competitive commissions among similar brokers.

Countries Available

Tastyworks is available in a lot of countries around the world including, but not limited to the UK, Brazi, and Australia. On the other side, you can’t open an account on Tastyworks if you’re a resident in North Korea.

Tastyworks Accepted Countries

Andorra

Argentina

Australia

Austria

Bahrain

Belgium

Bolivia

Bulgaria

Brazil

Chile

Colombia

Czech Republic

Denmark

Dominican Republic

Ecuador

Egypt

Estonia

Finland

France

French Polynesia

Germany

Greece

Hungary

Iceland

India (cash accounts only)

Indonesia

Ireland

Isle of Man

Israel

Italy

Kuwait

Malaysia

Mexico

Namibia

Netherlands

New Zealand

Norway

Peru

Poland

Portugal

Romania

San Marino

Saudi Arabia

Singapore

Slovakia

South Africa

Spain

Sweden

Switzerland

Taiwan

Thailand

Turkey

United Arab Emirates

Ajman

Dubai

Fujairah

Sharjah

Ra’s al-Khaimah

Umm al-Qaiwain)

UK

Uruguay

       

 

Tastyworks Rejected Countries

Afghanistan

Albania

Angola

Anjouan

Balkans (Croatia)

Kosovo

Macedonia

Serbia

Barbados

Belarus

Bosnia & Herzegovina

Botswana

Burkina Faso

Burma

Burundi

Cambodia

Cayman Islands

The central African Republic

Chad

Comoros

Cote d’Ivoire (Ivory Coast)

Cuba

The Democratic Republic of the Congo

Equatorial Guinea

Eritrea

Ethiopia

Ghana

Guinea

Guyana

Haiti

Iran

Iraq

Lao People’s Democratic Republic

Latvia

Lebanon

Liberia

Libya

Mali

Malta

Mauritius

Mauritania

Morocco

Montserrat

Nicaragua

Niger

Nigeria

North Korea

Pakistan

Palestinian Territory

Panama

Philippines

Sao Tome & Principe

Senegal

Sierra Leone

Somalia

South Sudan

Sri Lanka

Sudan

Syria

Tajikistan

Turkmenistan

Uganda

Ukraine

Vanuatu

Venezuela

Western Sahara

Yemen

Zaire

Zimbabwe

 

Account Types

Tastyworks has 6 main account types as the following:

  • Individual

This is an account type that has only one single user. It can be a cash or margin account that you can choose any of them according to your needs.

  • Joint

An account type that has two traders trading with it. This account type has 2 options: TIC option in which if one of the account owners dies, his/ her assets will be back to the company. The other option is WROS in which if one of the account owners dies, his/ her assets will be transferred to the other one.

  • Retirement

This account type is perfect for those who retired and want to invest money trading to get reasonable income. This account type has three options: Traditional IRA, Roth IRA, and SEP IRA.

  • Corporate

A corporate account is an account opened on behalf of the corporate/ company. Please, note that the corporate should be a legally established US entity.

  • Trust

This account type can be opened on behalf of a revocable trust or an irrevocable trust.

  • International

This is an account type in which Margin, portfolio margin, and cash accounts are available for international clients.

Tastyworks has no demo account with 0 fees if you want to experience the trading platform with no risk.

There’s an option to join the Tastyworks affiliate partner program if you want as well.

Min Deposit

The minimum deposit differs according to your account type as the following:

  • $0 for the cash accounts
  • $2,000 for the margin accounts

How to Open Account

You can open a Tastyworks account in minutes through these steps:

  1. Enter your email, username, and password.
  2. Choose the account type you want to open.
  3. Enter your name, address, phone number, and country of residence.
  4. Enter some personal information like your city and profession.
  5. Answer some affiliate questions.
  6. Enter your trusted contact information.
  7. Enter the account activity information.
  8. Add your trading preferences.
  9. Enter your financial information.
  10. Add a security question.
  11. Provide proof of your identity and the country of residence.
  12. Fund your account and start trading.

Tastyworks Account Opening | How to Open Tastyworks Account

Tastyworks – Account opening

Notes:

  • The account opening process takes from 3 to 5 business days to proceed.
  • Due also to the requirements of the regulatory bodies that supervise Tastyworks, it is necessary that in order to operate with your account you send them proof that proves your identity and another proof that proves your current address.
  • Identity document: You must send a copy of your ID, passport, or driving license. It has to be an official document that clearly shows your identity and that it is valid (the document you send cannot be expired). You can scan any of these documents and send it in PDF, JPG, GIF, or take a photo with your mobile if it is more comfortable for you. In any case, the image must have good quality and be completely readable, otherwise, it may give you problems verifying it.
  • Proof of address: This is to send a document that shows your current address. You will have to send a recent utility bill (not exceeding 3 months) for electricity, water, gas, landline, or Internet (many brokers do not accept, for example, mobile phone bills). You can scan and send it in PDF, JPG, GIF, or take a photo with your mobile. Like the previous document, all the data must be legible and have sufficient quality.

FAQs

  1. How long does it take to verify my account?
  • It takes about 1 to 3 business days to verify your Tastyworks account.
  1. Can I open more than one trading account?
  • At Tastyworks, you can only open one account, and any other account opened under the same person will be rejected by the support team.
  1. What are the two-factor authentication methods available?
  • The available methods are via an authenticator app or SMS.
  1. Does Tastyworks allow bot trading?
  • Yes, through Robo-advisory.
  1. Can I transfer cash/ positions between two Tastyworks accounts?
  1. Does Tastyworks give a bonus?
  • Yes, it does. You can get $200 after depositing $2000+ into your account after signing up using a promo code and buying some cryptocurrencies.
  1. Does Tastyorks have a demo account?
  • Unfortunately, no.
  1. Does Tastyworks have a swap-free account?
  • No, it doesn’t.
  1. Can I log in to more than one account from the same computer?
  • Yes, you can.

 



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