Tastyworks is offering up to $2,000 bonus when you open a new brokerage account and fund it with the required amount. Although it is one of the most generous sign up bonus currently being offered among all the brokers or trading accounts, the requirements is also quite high. The bonus is tiered and have different funding requirement. IRA and Trust accounts are not eligible. This is stackable with referral bonus.
Tastyworks is aimed primarily for active traders, especially options traders.
- Stocks and ETFs are free to buy and sell.
- Cryptocurrency has a commission of 1% each to buy and sell, with a cap of $10 per transaction.
- Options on Stock & ETFs costs $1 per contract to open and is free to close, with a cap of $10 per leg.
- Options on Futures costs $1.25 per contract each to open and close.
- Futures cost $1.25 each to buy and sell.
Tastyworks Bonus Summary
Bonus – $100 or $500 or $2000
Funding Requirement – At least $5,000 (for $100 bonus) or $25,000 (for $500 bonus) or $100,000 (for $2,000 bonus)
Offer Expiry – March 31, 2023
Promo Code – “TIERED_2023” (Required while opening the account)
Inactivity Fees – None
Tastyworks Bonus Requirements
- Open a new Brokerage account within the promotional period with the promo code “TIERED_2023”.
- Fund the account with either at least $5,000 for $100 bonus, $25,000 for $500 bonus or $100,000 for $2,000 bonus within 08/31/2022.
- Bonus will post approximately after two week of settlements of the deposit.
- Deposited funds should be held into the account for 12 months. Else the bonus will be debited.
Inactivity Fee | How to Avoid It?
- There is no inactivity fees.
Early Termination Fees
There is no early termination fees. Funds withdrawn before 12 months can lead to forfeiture of sign up bonus. Trading loss does not counts towards that.
THE PROMOTIONAL PERIOD
The Promotion begins at 12:00am CT on 09/12/2022 and ends at 11:59pm CT on 03/31/2023 (the “Promotional Period”). Sponsor’s computer is the official clock for the Promotion.
1. The Promotion is available to (1) all approved new customers (as determined by Tax ID) who fund their tastyworks account with $5,000 USD or more, and (2) existing customers who have never funded any tastyworks account prior to the start of the Promotional Period, and who fund their existing brokerage account with $5,000 USD or more (each, a “Qualified Account”).
2. In order to be eligible for this Promotion, approved new customers must include the Referral Code of “TIERED_2023” in the REFERRAL CODE FIELD when applying for an account, and existing customers must receive an email from Sponsor confirming they are eligible to participate in the Promotion (upon approved new customers entering the Referral Code, or existing customers funding any current account after receiving an email confirmation of eligibility, approved new customers and existing customers shall be referred to herein as a “Qualified Customer.”)
3. The Promotion is not valid for customers who have any existing, funded tastyworks brokerage account prior to the start of the Promotional Period.
4. IRA and TRUST accounts are not eligible for the Promotion.
1. The Cash Bonus (“Cash Bonus”) will be credited to a Qualified Customer’s Qualified Account within two (2) weeks from date of the initial deposit of at least $5,000 USD (the “Funds”). The Funds must be deposited as a single transaction prior to the end of the Promotional Period.
2. The initially deposited funds will determine the Cash Bonus tier:
$5,000 – $24,999
$25,000 – $99,999
3. The initial minimum funding amount of $5,000 USD or more deposited into a Qualified Customer’s Qualified Account is required to remain in the Qualified Account for a minimum of twelve (12) months starting the date the Qualified Account meets the funding minimum (“Twelve Month Period”). The value of Cash Bonus the Qualified Customer receives will be credited to its Qualified Account upon deposit, but will be automatically debited out of the Qualified Customer’s Qualified Account if the Twelve-Month Period requirement is not met. The Cash Bonus will not be included in the Qualified Account’s buying power until the end of the Twelve-Month Period. Losses due to trading or market fluctuations will not be taken into account.
Tastyworks used to offer one of the best sign up bonuses in the past with easy requirements. However, the current bonus is a bit disappointing as they are effectively offering $100 for depositing $5,000 and holding it for 12 months.
Currently there are other brokers who are offering more with less requirements or offering similar bonus for ACAT transfer. We hope Tastyworks will improve their bonus offering in the future.
“Tastyworks recently ran a promotion where you could get $500 bonus (in cash) when you open a new account and fund it with $10,000. Alternatively, they were offering $200 bonus (in cash) when you open a new account and fund it with $2,000. That offer expired on February 28, 2022. The current promotion is very similar to the recent one, except you earn the bonus as stock. However, you can easily sell the stock. It is sad that they removed the opportunity to earn $500.”
Tastyworks Referral Program
Besides the generous sign up bonus, Tastyworks also run a generous referral program. It is a way for Tastyworks to show you appreciation for each and every person you introduce to Tastyworks. Referral and sing up bonus are stackable. More info at https://tastyworks.com/referral/
MAX CASH VALUE
2 Referral Credits
5 Referral Credits
Chicago Food Package
10 Referral Credits
One Year of High-Speed Internet Access
20 Referral Credits
Trip for Two to Chicago
50 Referral Credits
750 Referral Credits
Tesla Model S