Low Cost Budget Broker: Dough Trading
Tastyworks is a low cost budget broker. The platform is ideal for all types of traders: small-scale and large-scale.
Those familiar with Dough.com Trading know that the founder originally created Thinkorswim for TD Ameritrade. Tastyworks, launched January 2017, is a newer platform designed to be both simple and easy to navigate while supported with powerful tools. The fee structure is incredibly competitive to draw in new users. Speculation is early bird adopters of the platform may have received extra benefits like a free subscription to the famous “Bob the Trader” trades.
Tastyworks was created with the financially savvy trader in mind. The platform incorporates Dough trading strategies many are familiar with following. Dough trading accounts could follow the options trading group to get fresh ideas for real-live trades and strategies. The trading group even has a live broadcast television show exclusive to members and available to those who open a Tastyworks account.
Traders get this free advice for simply having an account. You also may subscribe to Bob the trader for an additional fee. However, this choice is 100% optional.
Tastyworks offers one of the lowest commissions in the broker trading business. In addition, the data subscription cost is zero. There is no fee for data or having the account open. There is no fee for having the platform either. Option exercise fees are $5 and closing commission fees for all trades is $0.
Dough Trading/Tastyworks Platform Screenshots
Traders using the platform gain access to Curve graphs that help predict probability, max loss, gain, and more. Below is an example of a trade in AAPL (Apple Inc.):
Traders can place their contracts in manually. Or traders can select from the dropdown box to have contracts automatically placed, and then adjust strikes, quantities, and expiration as desired.
The table display layout of the above trade can also be selected and is seen below:
Pros and Cons of Tastyworks
Your watch list, customization to your needs, is on the left. Tabs at the top provide access to each section. In addition, traders can switch to a different section, and then return to the trade section without losing the setup they created.
Is Tastyworks Platform Worth it
The Tastyworks platform is discussed frequently in options trading groups. Traders consistently speak good things. In addition, propitiatory technology is exclusively available there such as implied volatility ranking systems. Furthermore, traders will see more of their favorite indicators added. Developers are updating the platform daily.
In conclusion, traders have questioned the beta platform. Will the platform be worth it? The reviews say yes. In addition, traders may wish to open an account even if they are not ready to trade on it. Product access may allow early bird account openers grandfathered access at great, entry-level pricing. When the platform becomes more popular, those who already have an account may find extra benefits at better rates.
Since the cost to open an account is simply funding it, you may wish to go ahead get started even if just to use the platform for the free tools that come with the account. Suggested account funding amount is $2,000+. Open an account with the link below to test features and receive free trading advice from the Dough trading team: