Looking to open a tastyworks account but not sure how much you need to open one? Well, in short, there are no account minimums. However, you will be limited to what you can trade based on your account type and available buying power. We’ve broken down our two account types below (margin and cash). The account types below are open to all customers (domestic and international).
Please click here to learn more about the allowable trading strategies based on your account type and level.
What is the minimum to open a margin account?
No minimum, but requires $2,000+ for margin privileges
There is no minimum account balance requirement to open a margin account at tastyworks. However, if you wish to gain margin privileges, which allows you to buy stock or ETFs on margin, it will require a minimum account balance of $2,000 or more. The trading strategies you wish to perform base on your margin trading level.
When your account balance ends the day with $2,000 or more, your margin privileges reflect in your stock buying, which will be 2:1 of your options buying power. One thing to be clear about a margin account is that just because you have a margin account doesn’t mean you’re automatically borrowing cash to maintain your positions. To learn when your account is on margin, please click here.
What is the minimum to open a cash account?
No minimum at all
There is no minimum account balance to open a cash account. Since cash accounts cannot borrow (or be on margin), they are limited to specific trading strategies based on the available buying power.