If you are an options trader or planning to start trading options, you need to know about the fees and charges involved. One of the popular options trading platforms, Tastyworks, offers competitive options fees. In this article, we will discuss everything you need to know about Tastyworks options fees in 2023.
What is Tastyworks?
Tastyworks is a Chicago-based online brokerage firm founded in 2017. The platform is designed specifically for options traders and offers advanced trading tools and features. Tastyworks is known for its low commissions and fees, making it a popular choice among options traders.
Options Fees on Tastyworks
Tastyworks charges two types of fees for options trading: commission and exchange fees. Let’s take a closer look at each of these fees.
Tastyworks charges a flat commission fee of $1 per contract for options trading. This is one of the lowest commission fees in the industry, making Tastyworks a cost-effective option for options traders.
In addition to commission fees, Tastyworks also charges exchange fees for options trading. These fees are charged by the options exchanges and are passed on to the traders. The exchange fees vary depending on the exchange and the type of option being traded.
Other Fees on Tastyworks
Apart from options fees, Tastyworks also charges fees for other services. Let’s take a look at some of these fees.
Tastyworks charges a flat commission fee of $5 per trade for stock trades. This fee is lower than the industry average, making Tastyworks a cost-effective option for stock traders.
For futures trading, Tastyworks charges a commission fee of $2.50 per contract. This fee is competitive when compared to other futures trading platforms.
If you plan to trade on margin, Tastyworks charges an interest rate on the borrowed funds. The interest rate varies depending on the amount borrowed and the duration of the loan.
In conclusion, Tastyworks offers competitive options fees, making it a popular choice among options traders. The platform also offers low commission fees for stock and futures trading. However, it is important to keep in mind that exchange fees and other fees may apply. Overall, Tastyworks is a cost-effective option for traders looking to trade options, stocks, and futures.