ETRADE vs Tastytrade – detailed comparison

It can be tricky to determine which broker is the best match for you, given the numerous well-known ones available. If you are considering Etrade vs Tastyworks, this comparison will provide you with insights into the pros and cons of each, so you can determine which broker will best serve your needs.

Etrade vs Tastyworks – Ease of Use

Ease of use is a very important factor in trading decisions, and both TastyTrade and E*TRADE offer user-friendly platforms. TastyTrade stands out with modern technology, allowing traders to quickly assemble advanced options strategies. Stock, ETF, Crypto, and Futures trading is simple, as are other features such as the mobile app, account services, customer support, and finding trade replicas.

E*TRADE is a straightforward broker, and its features are recognizable on the mobile app, the website, and the trading platforms. Its classic design could make it an easier option for those looking for a more traditional trading experience. However, if you intend to trade complex options, TastyTrade has more advantages.

Etrade vs Tastyworks – Cost and Fees

Comparing the services and assets offered by TastyTrade and E*TRADE, which platform provides the most economical option? Let’s investigate and find out.

Trading Costs

Both TastyTrade and E*TRADE offer the ability to trade stocks, exchange-traded funds (ETFs), and options with sophisticated strategies. Additionally, both entities provide futures trading for their approved customers.

Options

At TastyTrade, you will pay a $1 fee per contract when opening a trade, but closing the position is free. This rate is limited to $10. If you trade multiple lots, you will get a better deal. ETRADE, on the other hand, charges $0.65 per contract but goes down to $0.50 if 30 or more trades are logged in the account. E*TRADE is cheaper until the $10 mark, after which TastyTrade becomes the more cost-effective option due to its capped commissions.

Stock Trading & ETFs

Both TastyTrade and E*TRADE offer stock and ETF trading with no fees. E*TRADE additionally provides OTC trading, with a fee of $6.95 per transaction. If you trade frequently (over 30 trades per quarter), the cost will decrease to $4.95. Both allow dividend reinvestment.

Futures

Traders who prioritize affordability are likely to choose TastyTrade since they offer lower rates than E*TRADE. TastyTrade charges $1.25 for minis, $0.85 for micros, and $0.25 for Smalls contracts per transaction. On the other hand, E*TRADE charges $1.50 per contract per transaction for both minis and micros.

Promotions

TastyTrade: $0 commissions + $75 for each friend referred with this referral code.

E*Trade: Get zero commission on stock and ETF trades.

Etrade vs Tastyworks – Account Management

The range of account types and money management solutions offered by TastyTrade and E*TRADE makes it difficult to decide which one is better for an individual’s needs and desired approach. E*TRADE provides a more extensive selection of account types, while TastyTrade offers a variety of brokerage accounts.

TastyTrade accounts

• Joint
• Individual Cash Margin
• Retirement
• Trust
• Corporate
• International

E*TRADE provides an array of investment services, such as brokerage accounts and financial planning accounts.

• Custodial
• Individual Cash
• Coverdell ES
• Retirement for Minors
• Retirement
• Small Business Retirement
• Individual Cash/Margin
• Custodial
• Coverdell ESA

Etrade vs Tastyworks – Trading Platforms and Apps

Both TastyTrade and E*TRADE offer convenient ways to trade, making it easy for customers to invest in the market in real time. TastyTrade offers three options with a unique experience, while E*TRADE provides four different ways to trade with their mobile app and website, plus two additional platforms.

TastyTrade is designed to make trading easier, particularly for complex options positions. Its unique and intuitive design allows traders to visualize the relationship between short and long options valuations. However, it may not be goog option for those used to a more traditional style, as there is a slight learning curve. On the other hand, E*TRADE offers a more traditional approach, with its advanced trading platform available to clients who have at least $1000 in their accounts.

Which Online Broker is Right for You?

Both platforms are web based platforms offering mobile versions. There are a variety of order types on both. Also, clients can trade options contracts, futures, and mutual funds on Etrade and Tastworks.

E*TRADE offers a comparable service to Tastytrade, and the fees for each are comparable. Opening an account with E*TRADE requires a bit more effort than with Tastytrade, while deposit and withdrawal processes are similar. 

However, the customer service at E*TRADE is noticeably inferior to that of Tastytrade. Our experts found that the trading platform at E*TRADE is slightly better than that of Tastytrade, and the number of markets and products available to customers is comparable with both services. Research and education quality is roughly the same for both.

Ultimately, the best choice depends on individual needs and preferences. Tastytrade is usually the more cost-effective choice, and it is also preferable for options trading and cryptocurrencies. E*TRADE, however, provides banking services, more account types, and a wider range of securities.