Tastyworks vs E*trade

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tastyworks vs E*Trade are two online brokers with very different clientele and very different pricing structures. For starters, tastyworks has much more flexible pricing, virtually the same quality of trading platforms as E*Trade, and endless hours of educational video content.

Neither broker charges inactivity fees, but to qualify for E*Trade’s advanced downloadable platform, you’ll have to make more than 30 trades a quarter or have a combined daily balance of more than $25,000. On the contrary, every new client has access to tastywork’s platforms, which can be used to trade futures, options, and stocks.

tastyworks vs E*Trade 2018

Company Ratings

tastyworks

E*Trade

Overall

Commissions & Fees

Customer Service

Trading Platforms

Mobile App

Overall Ease of Use

Promotion Value

Fees

tastyworks

E*Trade

Minimum Deposit

$2,500

$500

Stock Trade Fee

$5.00 (free closing trades)

$6.95

Options Ticket Charge

None

$6.95

Options per Contract Fee

$1.00 (free closing trades)

$0.75

Mutual Fund Fee

N/A

$19.99

Market Data Fee

Free

Free

Wire fee (outgoing)

$25

$25

Inactivity fee

None

None

Investments

tastyworks

E*Trade

Stocks

Options

Futures

Forex

Bonds

OTC Stocks

Penny Stocks

Options on Futures

Crypto

Mutual Funds

0

8,998

International Trading

Advisor Services

Trading Platforms

tastyworks

E*Trade

Web-based

Mobile App

Downloadable (Mac)

Downloadable (PC)

Real-time Level II data

Real-time Charting

Historical Option Data

Options Analysis

iPad App

Company Info

tastyworks

E*Trade

In-person Branches

Customer Service hours

9-5 CT, M-F, phone + live chat

24/7

Sum of Client Balances

Not listed

Not listed

Member FDIC

Savings Account

Checking Account

Free Online Banking

Margin Rates

tastyworks

E*Trade

Under $24,999

8.00% Base Rate + 1.00%

10.25%

$25k-$49,999

7.50% Base Rate + 0.50%

10.00%

$50k-$99,999

7.00% Base Rate

9.50%

$100k-$249,999

6.50% Base Rate – 0.50%

9.00%

$250k-$499,999

6.00% Base Rate – 1.00%

8.50%

$500k-$1M

5.50% Base Rate – 1.50%

8.00%

Above $1M

5.00%

7.00%

Full Review

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Overall, we like tastywork’s more flexible pricing and unique trading platforms when compared to E*Trade. Although tastyworks certainly doesn’t have any in-person branches or trillions of dollars in client assets, they pack a very powerful punch with their trading technology, pricing, and video content available through tastytrade.

E*Trade is still a popular broker, but we don’t see the need to pay almost $7 per trade when tastyworks offers a very similar experience to E*Trade for more than half the cost.

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