Are you looking to open an account at tastyworks but unsure which account type is right for you? At tastyworks, we offer all sorts of account types. To learn more about our account offerings, please continue below or click here.
Available Account Types
Margin: This is the most flexible type of account. Based on your trading level, you can use all of the trading strategies available at tastyworks and can borrow money for equity (share) trades. That said, options are non-marginable. While there is no minimum to open a margin account, you will need to maintain $2,000 in the account to retain full margin privileges. Please be aware that greater flexibility may expose you to higher risks.
Cash: In a cash account, you won't have margin benefits, which means you must be able to cover your trade's total purchase price with the money already in your account. There is no account minimum for a cash account.
To learn about account minimums for margin and cash accounts, please click here.
Traditional IRA: These are retirement accounts for individuals with earned income or who file a joint return with a spouse who earns income. Earnings typically grow tax-deferred and are taxed upon withdrawal at your ordinary tax rate.
Roth IRA: These are retirement accounts for individuals with earned income. After-tax contributions are made and can be withdrawn tax-free and penalty-free at any time. Earnings may be withdrawn tax-free and penalty-free for qualified distributions.
SEP IRA: Individual retirement account eligible for self-employed individuals and small business owners/employees. Typically, earnings grow tax-deferred and are taxed at your ordinary tax rate upon withdrawal.
To view IRA contribution limits, please click here.
Corporate: Corporate accounts are accounts opened on behalf of a legally established US entity. We currently offer C-Corp, S-Corp, LLC, and Partnership accounts.
Trust: A trust account can be opened on behalf of a revocable trust or an irrevocable trust. A copy of the Trust Certificate must be provided at account opening.
For instructions on how to open an entity account, please click here.
Tenants in Common: This type of account is controlled by two or more owners, each with a specific portion of the account's assets. When one account owner dies, their portion of assets passes on to their estate.
With Rights of Survivorship (WROS): A Joint WROS account is one where two or more owners have an equal share of assets. When one account owner dies, the surviving owner(s) will have full rights to the account.
For instructions on how to open a joint account, please click here.
Individual margin, individual cash, and joint accounts are available to international customers. At this time, we do not support entity accounts for international customers. To view a list of countries we currently accept, please click here. We are continually adding to the list of countries we support.