There are many out there to choose from. Many of you may already have one but for the purposes of this site, Tastyworks will be the most useful. Many of my examples and references will be from Tastyworks, so for the most seamless experience you might consider opening an account with this firm. I've worked with several different brokerage firms in the past and Tastyworks is by far my favorite.
Tastyworks: From the Makers of Think or Swim and Tastytrade
The Tastyworks trading platform was built from scratch by the same minds who built the well-known Think or Swim trading platform, now owned by TD Ameritrade. They are career traders with decades of experience as and as They are also the folks who broadcast trading shows live, 5 days per week on Tastytrade. I learned all the basics about trading by watching their shows and have met and spoken with many of them in person. There are a lot of reasons I like Tastyworks, but trust is number one.
Customer Service
The customer service at Tastyworks is unlike any other. They have an extremely helpful trade desk that will assist you with questions about your account and your trades. You also have the option of emailing the different hosts and researchers on Tastytrade with trading questions and they always get back to you in a timely manner. They do all of this at no charge to their fans and customers. It's extremely impressive, to say the least.
Freedom to Do What You Want
Tastyworks is the only firm I've ever used that does not place additional restrictions on access to certain strategies and tools due to account size or type. There are industry-wide regulations that all firms must abide to, but most firms also place additional restrictions on their customers, especially if you have a small account or want to trade and products. Tastyworks gives you extremely easy access to futures products, strategies in retirement accounts, and no restrictions on naked due to account size (other than As a beginner, this may not mean anything to you yet, but these are game-changing freedoms. As you become a more sophisticated trader, you will be very glad you have this level of access.
No Sales Pitch
Tastyworks will never call or email you to sell you "professionally managed" products. Just like Food for Theta, Tastyworks is purely about and has no interest in managing your money for you. If you're looking to take a more , you will need to look elsewhere. If you want to do business with a firm that will allow you to take charge of your own decisions and do what must be done without hassle then Tastyworks is for you!
The Technology
The Tastyworks trading platform is awesome! It's fast, it's lean, and it is easy to use and navigate. I've used several trading platforms and services, and Tastyworks completely puts them all to shame.
Fees and Commissions
One of the greatest benefits of Tastyworks is the low cost of doing business. Since their arrival in 2016, their pricing has changed the entire industry! I myself saved at least 80% on commissions and fees through their firm. Before Tastyworks, other firms like Charles Schwab and TD Ameritrade had base prices as high as $9.95 plus an extra $1.50 for every option contract. Tastyworks has never had a base price, and only charges $1 per option. Not to mention, Tastyworks is still the only major brokerage firm that does not charge commission for closing orders.
While prices have finally become more competitive among the other firms, they still don't measure up to Tastyworks in my opinion. There are several other benefits that I haven't mentioned, but I will let you discover those on your own. Below, I compare the pricing of Tastyworks with other popular firms I've used in the past – there are also many others not listed. If you'd like, you can click the firm's name to go directly to their pricing pages.
I realize, this may be hard to judge for yourself if you're just starting out. If it helps, the most common strategy I use costs me $2 in commission at Tastyworks, whereas it would cost me $2.60 anywhere else (highlighted above). As strategies become larger and more complex, this price difference widens dramatically. You are absolutely free to choose differently or switch down the road once you gain a clearer perspective on your personal needs. Until then, if you want learn my methods, let's set up an account at Tastyworks and get the ball rolling. I will walk you through the process on the next page. It is completely free and you don't need to deposit any money to set it up.