The ability to upgrade your trading level is based on two factors: your account type and your investor profile. You may only upgrade the trading level of a margin accounts. To view your current account type, please sign in to your account at tastyworks.com and go to the Account Status section, as illustrated below.
Example of a cash account listed in the Account Status section
Cash accounts cannot be upgraded since there is only one trading level. If you want to open a margin account, you will need to open another account, which you can quickly do by clicking Open Another Account beneath the Account Status section. Additionally, cash accounts cannot be converted to a margin account and vice-versa. You must open another account.
To learn how to open another account, please click here.
To learn more about our trading levels and permissible strategies, please click here.
How do I upgrade my trading level?
Entity account holders (S-Corp, C-Corp, LLC, Partnership, and Trust) that wish to upgrade their trading level must reach out to email@example.com to update their investor profile.
- Sign in to tastyworks.com and go to My Profile→Investor.
After signing in, eligible to upgrade accounts will have an orange UPGRADE button to the left of each trading account(s), as illustrated below.
- Once on the Investor Profile page, please select the account you want to upgrade. If you have more than one account, click on the Current Account dropdown to select the account you want to upgrade.
- After selecting the account, you will see what you are eligible to upgrade to under My Current Plan. Your current trading level is based on your current investor profile. Any trading level your account is not suitable for will be greyed out, as illustrated in the example below. If the account is already suitable for an upgraded trading level, the next trading level will visible and not greyed out.
- Your ability to upgrade is solely based on how you self-report within your Trading Objectives, Trading Knowledge, and Financial Standing. If there are any changes, you may edit your investor profile by editing each criterion by scrolling down to each section and clicking EDIT.
- After completing your investor profile update, you will see your eligible trading level(s), based on how you self-reported, under the My Current Plan section. Below is an example of what you will see when the next trading level becomes eligible to upgrade.
- If you do not see the trading level you were anticipating to upgrade to, you may reevaluate your investor profile.