Are you looking to open a new account at tastyworks and take advantage of the 100 Share Offer? If so, and you got some questions about the promotion, then check out our FAQ below. To view the official terms and conditions, please refer to the 100 Shares Offer page by clicking here.
For full terms and conditions, please refer to tastyworks.com/100shares
100 Shares Offer Details
New customers that open and fund a tastyworks account with $2,000 or more in cash or by an account transfer (ACATS) will receive 100 shares of stock priced between $1 - $6.
Who is eligible?
- NEW CUSTOMERS ONLY
- Must be 18 when you open the account
- Must be a US Resident
What accounts types are eligible?
- Individual (cash or margin)
- Joint (cash or margin)
- LLC, Partnerships, S-Corp, C-Corp (cash or margin)
Trusts or IRA accounts are not eligible.
New customers that register with tastyworks who open and fund an account from April 20, 2020, to June 30, 2020 with the referral code STOCK_AWARD_20 are eligible. If you are a new customer and forgot to enter the referral code, then please click here.
Am I eligible for the 100 Shares Offer if I am already a tastyworks customer?
The 100 Shares Offer is only open to new tastyworks customers. Unfortunately, if you already have an open and funded tastyworks account trading account, regardless of account type, then you are not eligible for this promotion.
Can I stack or use multiple promotions?
This offer is not valid with any other offer, including the tastyworks trading challenge. However, If you already entered a referral code and did not fund your account yet, then please reach out to our support team at email@example.com.
How can I still participate if I forgot to enter the stock award referral code when applying?
If you did not enter a referral code when you initially applied to tastyworks and did not fund yet, then you can still enter it. For instructions, please click here.
Can I still participate if I opened a tastyworks account before 100 Share Offer, but never funded my account?
Customers that opened a tastyworks account before the 100 Share Offer (before April 20, 2020) and never funded it may participate. Before funding, please enter STOCK_AWARD_20 into the referral code field then reach out to firstname.lastname@example.org so that we can process your request. For instructions on entering a referral code, please click here. Only customers that do not have any existing and funded tastyworks accounts may participate.
If I am an existing customer and open a new trading account and make a $2,000+ deposit or account transfer, then can I get 100 free shares?
Again, this promotion is only open to new customers. New customers are determined by Tax ID (SSN) so if you already have an open and funded tastyworks account, then you will not be eligible for the 100 Shares Offer.
Which stocks are included in the 100 Shares Offer?
Please note that the list of stocks is subject to change. Awarded stocks are chosen by random.
Can I choose which stock I want to be awarded?
Stocks from the list above are selected by random and cannot be chosen.
When are the shares purchased?
On the day your $2,000+ cash deposit or account transfer posts to your account net liquidation value (net liq). Please refer to the table below in When will I see the awarded shares in my account?
When will I see the awarded shares in my account?
Awarded stock will appear in your account the 3 business days after the shares are purchased automatically by our system. Add one business day for deposits made after the ACH deposit cutoff time. Please refer to the example below:
Initiate ACH deposit before the cutoff time.
Funds will post to the account and reflect in Net Liq.
Stock is purchased on this day. The 90-day holding period starts.
|Awarded stock will appear in your account.|
example of stock award purchase after eligible deposit/transfer
Can I specify when to purchase my shares?
Awarded shares are automatically purchased. As a result, you cannot specify when the shares can be purchased.
What is the average price of the 100 shares?
The value of the awarded stock received will average ±$250 USD based on the price of shares at which the stock is purchased by tastyworks.
Can the value of the stock count towards the $2,000 minimum?
No, a deposit of $2,000 or more into an eligible account type is required to receive the stock award.
When can I sell the awarded shares?
You may sell the awarded shares immediately once they appear in your account. However, the value of the shares, as well as the minimum $2,000 deposit must remain in your account for at least 90 days. Furthermore, the value of the awarded shares will appear in your account as Pending Cash Entry for 90 days, preventing you from withdrawing the value of the awarded stock.
Can I sell a covered call against my 100 shares?
Yes, you may sell a call against your shares in a cash or margin account.
How long does it take for the proceeds of my shares to settle?
Stocks settle T+2 or trade date + 2 trading days. As a result, cash accounts must be aware of stock settlement if they employ any day trading strategies. To learn more about Good Faith Violations in a cash account, please click here.
If I close out of my awarded shares when they appear in my account, then does that count as a day trade?
Closing out of awarded shares the day they appear in your account does not count as a day trade. However, cash accounts must be aware of when the proceeds settle from the sale of stock to prevent receiving a Good Faith Violation when day trading.
Will I receive a trade confirmation for my awarded shares?
Awarded shares do not generate a trade confirmation.
When can I take proceeds from the sale of the shares?
The deposit ($2,000+ cash deposit or account transfer) plus the initial value of the stock received (less any losses on the stock) are required to remain in the account for a minimum of 90 days (3-months).
Will I be penalized If my account drops below $2,000 from trading within the 3-month holding period?
Principal value fluctuations are not considered. As long as the initial $2,000 (or more) remains in the account for 3-months then the stock value will not be debited from your account.
What happens if I need to pull out my initial deposit before the 3 months?
You are free to withdraw the deposit you made to your account, however, if the amount withdrawn no longer meets the minimum deposit requirements then the initial value of the stock will be debited from the withdrawal amount.
Will the value of the shares be applied to my buying power?
The value of the shares will be applied to your total net liquidating value but will not be applied to buying power (for margin accounts) until after the 3-month holding period has expired.
Can I transfer the shares out of my account?
Not until the 3-month hold period has lapsed.
Can I transfer the shares internally to a different tastyworks account?
Not until the 3-month hold period has lapsed. Furthermore, shares cannot be transferred to a like-account type (i.e., individual cash to individual cash, as well as, individual margin to individual margin).
When does the 3-month hold period start?
The date starts the day the shares are deposited into your account.