Sea of hand-drawn words, prominently featuring the text ' Accounts'.

account types

The Works

Our favorite account for active retail traders, we call it 'The Works'. This plan allows you:

Individual Margin
Access to trade all available products
  • Stocks
  • Covered and uncovered options
  • Covered and uncovered option spreads
  • Futures coming soon!
Access to use any options trading strategy
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Available Today

We currently offer the most common types of retail trading accounts (and you can open plenty of each):

Individual
Margin

Margin is the most flexible kind of account. It allows you to borrow money to trade with and enables you to use all of the trading strategies available at tastyworks. Have a look at our Margin Disclosure to understand the risks associated with trading on margin.

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Cash

A cash account does not have margin benefits. That means you must be able to cover your trade's full purchase price with the money already in your account.

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Retirement
Traditional IRA
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A retirement account eligible for persons with earned income or who file a joint return with a spouse who earns income. Allowable contributions of $5,500 in tax-deferred earned income may be made annually. Typically, earnings grow tax deferred and are taxed at your ordinary tax rate upon withdrawal.

Roth IRA
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Individual retirement account eligible for persons with earned income. After-tax contributions are made and are available to withdraw tax-free and penalty-free at anytime.  Earnings may be withdrawn tax-free and penalty-free for qualified distributions.

Corporate
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Corporate accounts are opened on behalf of a legally established US entity. We currently offer C Corp, S Corp, LLC, and Partnership accounts.

Trust
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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.

International
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Margin and cash accounts are available to our international customers. We are constantly adding to the list of countries we support. Unfortunately, due to certain restrictions, tastyworks cannot accept accounts from Canada or Australia at this time.

Coming Soon

tastyworks will be rolling out these account types throughout 2017:

Joint
Tenants in Common

A joint account type in which two or more owners each have a specific proportion of the account's assets. When one account owner dies, their assets are passed on to their estate.

With Rights of Survivorship (WROS)

A joint account type in which two or more owners have equal share of assets. When one owner dies, the surviving owner(s) will have full rights to the account.

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Custodial
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UGMA/UTMA

Custodial account types established by an adult who is the custodian on behalf of a minor who is the beneficiary. The assets are transferred to the beneficiary once they are no longer considered a minor.

Coverdell

Established as a type of savings plan intended to contribute funds towards a student's qualified educational expenses. Contributions may be made for individuals who are under the age of 18. Qualified distributions are not taxable at the state or federal level.