Are you looking to get permission to trade in someone else’s tastyworks account? Maybe you want to give it instead, and have your mother, brother, daughter, or whoever trade on your behalf. To gain access to an account belonging to a different account holder requires a limited trading authorization (LTA) form. Instructions on what is required and how to fill out the LTA form is listed below.
The LTA form is in our Forms and Agreements at tastyworks.com. Once you are done filling it out, please submit it by email to our Accounts team at email@example.com. You may also fax the form to 312-724-7364.
Once the form is complete and processed by our accounts team, the account will be accessible on your platform.
The form can seem a little intimidating at first, which is why we’ve broken it down for you below:
*Please Note: The Authorized Agent (person being granted access) MUST have an approved tastyworks trading account to be eligible to receive LTA permissions. If the Authorized Agent you are trying to designate does not currently have an approved tastyworks trading account, they must register for a username on the website, proceed to fill out an account opening application, and await correspondence from our Accounts team that will indicate the application’s processing status.
LTA Form Instructions
Completing an LTA grants the authorized agent access to trade securities (stocks and options) as well as futures (if the account is enabled)
A/C No = Located at the top right-hand corner of page 1, the number of the account that trading authorization is being granted for (so, if the LTA is for you to trade in your daughter's account, for example, your daughter's account # should appear here)
SS/ID = Also located at the top right-hand corner of page 1, the social security or ID # associated with the account that trading authorization is being granted for (so, if the LTA is for you to trade in your daughter's account, for example, your daughter's SS/ID # should appear here)
The field in the body of the text on the first page = the name of the Authorized Agent, i.e., the person who is being GRANTED Limited Trading Authorization by the account-holder.
Agent Exclusions - This section mainly touches upon authorizing an agent to trade futures. Even if your account is NOT ENABLED for futures, the agent must fill this out. There are three exclusions listed that the agent must write on the second page under “List of Reason(s).” The agent MUST list at least ONE of these exclusions under "List of Reason(s)" on the top of page 2 if the agent is not a Commodity Trading Advisor (CTA) with the Commodity Futures Trading Commission (CFTC). Please refer to the detailed screenshot below to see a detailed view of the listed exclusions.
List of Reason(s) - Please write out one of the three exclusions listed on the bottom of page one if the agent gaining access is NOT a Commodity Trading Advisor (CTA) with the Commodities Futures Trading Commission (CFTC). Writing the corresponding number to an exclusion will not suffice in this section. You must write out one of the listed exclusions in this section.
Signature of Account Owner(s) - The account owner must sign and complete this section.
Signature of Authorized Agent - The person gaining access must sign and complete this section.
Authorized Agent/Attorney-In-Fact - Located at the bottom of page 2, the person gaining access must provide their personal information and complete this section.