TastyWorks

Discussion in 'Online Brokers' started by HowardS, Dec 1, 2016.

  1. status1

    status1 Well-Known Member

    Thanks
    That's good to know
    I have to wait a couple of months before my current trade expires or I close it before I move my account
    I don't want to move it while I have a trade on
     
  2. HowardS

    HowardS Active Member

    Great info, thanks
     
  3. AKJ

    AKJ Well-Known Member

    How exactly are they able to get better fills? Are they internalizing the orders by routing them to a different wholesale MM than the other brokerages? Sounds like "building the brokerage on top of a HF trading system is exactly that.

    Most (all?) of my orders at IB go to the CBOE COB. Not sure how a different broker would improve execution on those orders.
     
    Mark17, TOPS, tman and 1 other person like this.
  4. status1

    status1 Well-Known Member

    I have another detail question for those at Tastyworks
    On the BWB when they take out the margin how do they handle it ?
    Do they use all the margin on the more risky side without any consideration of the upper wing or do they take out the margin only from the combined trade of the BWB ?
     
  5. status1

    status1 Well-Known Member

  6. Harry

    Harry Well-Known Member

    Dan Sheridan?
     
  7. status1

    status1 Well-Known Member

    I guess so if he is using his middle name
    Otherwise a relative maybe ? If you click on the name it shows where he worked before

    What about the aml officer ? Any relation to Tom Sossnoff
     
  8. Scott Slivnik

    Scott Slivnik Well-Known Member

    Dan and Scott Sheridan are two different people. I believe they are related but forget how.


    Sent from my iPhone using Tapatalk
     
  9. status1

    status1 Well-Known Member

    Looks like they are inundated with people trying to open accounts
    There is a message when you try to open an account saying that they only accept opening account by invitation only so you have to give them an email address and name to put you on the list and than sometime later on you will have an invitation to open an account
     
  10. Scott Slivnik

    Scott Slivnik Well-Known Member

    Forgot to include that Case is Tom's daughter.


    Sent from my iPhone using Tapatalk
     
  11. Harry

    Harry Well-Known Member

    Oh ok: I am not familiar with tasty folks : looks like this guy is the CEO :
     
  12. JohnD

    JohnD New Member

    Anyone here using Tradier? They have "commission free" trading for a fixed monthly fee. Not sure, but heard that you need to open the account through one of their partners to get the commission free deal.
     
  13. djyoungcity

    djyoungcity New Member

  14. status1

    status1 Well-Known Member

    They were open to sign up for a while now except there was a waiting period
    Are you saying that there is no waiting period anymore ?
    Where did you get that referral code from ?
     
  15. djyoungcity

    djyoungcity New Member

    They just introduced a referral system. I was sharing to try to offer sign ups to users who want an account and hoping to get a couple referrals.

    They also have a 2 year free of bob the trader, so you see all of toms trades.
     
  16. status1

    status1 Well-Known Member

    I decided to sign up on 1/30 but when I tried to use the website it was not working so after I sent them an email they added me to the waiting list
    So after about 2 weeks I got my invitation to open my account which I did and than it was another week to fund my account with an ACH
    Then I got in right away with my first trade on 2/27
    So you can use the referral code but I don't think they are ready to open accounts directly
    I think you still have to be placed on a waiting list unless this was changed recently
     
  17. status1

    status1 Well-Known Member

    Here is an interesting link I found a couple of days ago

    It's Dan Sheridan talking to Tom Sosnoff about the platform back in January after they just opened
    What was interesting was the things that they are working on and the improvements that they will be making to the platform in the coming months
    So they are working on it to make it even better
     
  18. status1

    status1 Well-Known Member

    So I closed my first trade at Tastyworks I just made a quick 2% on margin in 6 days
    The main thing I wanted to see is what are the commissions and the fees like in reality
    So I paid $56.89 round trip for 22 SPX contracts and just for comparison I paid $56.98 at another brokerage (not tos)
    So it's quite competitive and even better for something other than SPX because of the lower fees and smaller lots are even better than that because of the $1 commission
    Another thing I like is that it's similar to tos as far as the easiness of trading is concerned I don't have to argue with the margin department because they take out too much margin on the BWB strategy
    I also got access to Bob the trader free for 2 years which has some interesting back tested research sometimes
     
  19. Casey

    Casey Guest

    Do you know how the SPX commissions on Tastyworks compare to TOS?
     
  20. status1

    status1 Well-Known Member

    Unfortunately I cannot trade the same lot size so I don't have an exact comparison
    But I could calculate a smaller lot size
    I placed a 12 lot in the beginning of Jan and I paid $19.27 so assuming I will pay the same to close it that should cost $38.54 for round trip and for TastyWorks that would be $30.96 so you would save $7.58 by trading at TastyWorks
    Keep in mind that TOS will start charging less soon so that would be about $6 less so the difference will be less
    Also keep in mind that for higher lot numbers the difference will be even less as those $1 per trade ads up
     

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