[Expired] Tastyworks Brokerage Bonus: Fund A New Account With $2,000+ & Receive 100 Shares Worth $1-$6 Each

Update 10/24/21: Extended through 10/31/2021. There’s also a separate $500 bonus now from Tastyworks as well. Hat tip to ShawntheShawn

Update 6/14/21: Extended through 09/30/2021. Hat tip to ShawntheShawn

Update 12/31/20: Extended until June 30, 2021. Hat tip to Ice

Update 7/7/20: Extended until December 31st, 2020.  Hat tip to reader Gadget.

Update 6/18/20: Extended until September 30th, 2020.

Update 5/25/20: Deal has been extended until June 30th, 2020. Hat tip to SDubbs

The Offer

Direct link to offer | Direct link to offer (100 or 10 free options)

  • Tastyworks is offering 100 shares  when you open and fund a new account with $2,000+. Average value of the shares will be between $200 and $220

The Fine Print

  • 100 Shares of Stock Offer available to all approved new customers (as determined by tax ID) who fund their tastyworks account with $2000 USD, are legal U.S. residents, and are ages 18+ as of date of participation (a “Qualified Customer.”)
  • Offer valid 04/20/2020-06/01/2020 (“Promotional Period.”) Stock bonus (“Stock”) will be credited to Qualified Customer’s account approximately one week from the time the funds post to the Qualified Customer’s account, on Friday’s by 4pm CST during the Promotional Period.
  • Stock will be randomly selected by tastyworks from a list of eleven (11) stocks priced between $1 and $6 USD.
  • The list of Stocks is determined by an algorithm and Stock value may change frequently due to market activity and will be adjusted by tastyworks in its sole discretion.
  • The odds of specific stock allocation is implemented as follows: there is a 70% chance of receiving Stock priced under $2.00 per share, and a 30% chance of receiving Stock priced over $2.00 per share.
  • The value of Stock received will average $200-$220 USD based on the price of shares at which the Stock is purchased by tastyworks.
  • All promotional shares of Stock are priced at the market price at time of purchase by tastyworks on Qualified Customer’s behalf not later than the market day after Qualified Customer completes the funding of their account.
  • The funds deposited to Qualified Customer’s account, plus the initial value of the Stock received (less any losses on the Stock) are required to remain in Qualified Customer’s account for a minimum of three months starting the day shares deposited into account, subject to extension from date of entry, before withdrawal in order for Qualified Customer to receive the value of the Stock (“Three Month Period.”)

Our Verdict

TastyWorks has previously offered a flat $250 bonus that was better, but that required depositing $5,000+. This deal is a bit easier to meet the requirements for, but obviously the expected bonus is slightly lower. There is also a play trading bonus for up to $250 that was supposed to work for existing users, but Tastyworks has been denying people for that if they’ve already received a bonus. I do think this bonus is better than that trading bonus so will be adding this to our list of the best brokerage account bonuses. Last time the $250 bonus offer was offered it was pulled early, so keep that in mind.

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Thomas
Thomas (@guest_1536401)
January 18, 2023 00:10

New Promotion for those unaware:
https://info.tastyworks.com/tasty-offer
$100 : For a deposit of $5,000 – $24,999
$500 : For a deposit of $25,000 – $99,999
$2,000 : For a deposit of $100,000+

(The Promotion begins at 12:00am CT on 09/12/2022 and ends at 11:59pm CT on 03/31/2023 (the “Promotional Period”).)

Conclusion:
Better Offer if you have a lot more money ($25,000 and above)
Everything else is debatable when compared to previous offers.

Previous offer was around $200 for $2,000 in deposits I think
And there was also the $500 for $10,000 in deposits I think?

Joey
Joey (@guest_1426488)
August 17, 2022 06:15

Still churnable?

Pawan
Pawan (@guest_1396161)
June 16, 2022 00:04

extended through 8/31/22  William Charles

Confused
Confused (@guest_1350329)
March 19, 2022 16:27

Anyone see issues with the tax form issued?

7/08/21 Money Movement ACH DEPOSIT $2,003.00
7/12/21 Receive Deliver GERN Bought 100 GERN @ 1.39 – Awarded 1 Long GERN
9/07/21 Trade GERN Sold 100 GERN @ 1.45 $145.00
10/27/21 Money Movement ACH DISBURSEMENT ($2,147.95)

I received 100 shares of GERN at 1.39 that were sold at 1.45 for gain of $6

The 1099-MISC portion (box 3) of the tax doc shows ‘Other income’ = 277.70

I am scratching my head here… total cost basis 138.85 (original price of 100 free shares) + total proceeds 144.90 (sale) – 6.05 (gain) = 277.70.

Turbotax shows this amount as misc income

So, do I get taxed twice on entire value – once to receive the bonus and again when that is sold? I thought original stock value (cost basis) of 139 would be the misc income and 6 for capital gains

B
B (@guest_1328083)
February 8, 2022 07:37

got a tax form but no longer have access to tastyworks, great!

Joey
Joey (@guest_1426379)
August 16, 2022 22:39
  B

What’d you end up doing

Steve
Steve (@guest_1298035)
December 11, 2021 19:52

This offer is dead/

dyvog
dyvog (@guest_1279867)
November 8, 2021 16:38

looks like this might not be available anymore.

blueflag
blueflag (@guest_1275101)
October 29, 2021 19:45

Checked on the withdrawal process and TW says only $1927.29 of $2001.05 ($2001 7/28 deposit, $0.05 credit interest) is available for withdrawal via ACH. Are there some fees I’ve missed or something? My shares hit on 8/1 so maybe there’s an early withdrawal fee? … guess I’ll need to look at some fine print.

Ostrich Rider
Ostrich Rider (@guest_1275181)
October 29, 2021 23:45

You have to wait 3 months from the stock deposit, so from 8/1 you should be able to withdraw your full balance on 11/1 or 11/2 without penalty. You can also sell your stock from 11/1 forward.

blueflag
blueflag (@guest_1275251)
October 30, 2021 09:19

“The value of Stock or Options Qualified Customer receives will be credited to their account upon deposit, but will be debited out of Qualified Customer’s account if the Three Month Period requirement is not met, and will not count toward Qualified Customer’s buying power until the end of the Three Month Period. Qualified Customers can sell their Stock or Options once deposited into their account, but the proceeds will be subject to the foregoing Three Month Period requirement.”

I was under the impression that the only penalty was the value of the stocks, but it must be the value of the stocks at the time they hit my account. They have lost value in this ballpark. Had I realized the risk, I may have sold right away. Nbd, tho … still a fun promo.

ShawntheShawn
ShawntheShawn (@guest_1260092)
October 1, 2021 00:22

This promotion has been extended to 10/31/2021.

In addition, there is another promotion ending on 12/31/2021: Open and fund a new tastyworks account with $10,000 and get $500!
https://info.tastyworks.com/opennow

 William Charles

Xatos
Xatos (@guest_1260396)
October 1, 2021 14:49

Possible to open a second account for this bonus? EDIT: NM, per terms it isn’t 😉

lilurbanachiever
lilurbanachiever (@guest_1264247)
October 8, 2021 17:53

Ouch, I am not a happy camper. One of those times when I should’ve procrastinated. Got a measly ~$130 instead of this new $500 deal.

ShawntheShawn
ShawntheShawn (@guest_1264848)
October 10, 2021 12:44

Well, a perfect reason to close your existing account and try opening a new one 😉. I was able to do the 100 shares offer twice. The stock I got is falling and I haven’t sold it yet, but I plan to churn again for this $500 promotion. lilurbanachiever

lilurbanachiever
lilurbanachiever (@guest_1264855)
October 10, 2021 13:01

ShawntheShawn The new offer specifically excludes customers with accounts closed after 9/22. Until the next one.

ShawntheShawn
ShawntheShawn (@guest_1264868)
October 10, 2021 13:35

Oops! You are right.

Blue Ghost
Blue Ghost (@guest_1272107)
October 24, 2021 21:09

ShawntheShawn Did Tasty Work pull your Chex?

ShawntheShawn
ShawntheShawn (@guest_1272114)
October 24, 2021 21:22

No. Brokerage accounts normally do not pull Chex. Blue Ghost

Blue Ghost
Blue Ghost (@guest_1272118)
October 24, 2021 21:35

Thank you ShawntheShawn !

JB
JB (@guest_1265134)
October 11, 2021 11:07

I closed my account 04/30/2021. If I open new account, will I get bonus again?

ShawntheShawn
ShawntheShawn (@guest_1265289)
October 11, 2021 18:21
  JB

According to the terms, the promotion is not valid for “customers who previously had a funded brokerage account with tastyworks prior to the start of the Promotional Period (09/22/2021).”…. unless it is not strictly enforced.

Jay
Jay (@guest_1274254)
October 28, 2021 14:39

How about if you opened an account in Oct 2021 for the $500/10000 bonus, can you do this one too? Any idea how? Thanks!

Anuj
Anuj (@guest_1265268)
October 11, 2021 17:25

If I open a new account using the link and deposit 10K for 3 months to sit there ideal (no trades for shares, crypto, or anything), will I be eligible for a $500 bonus? And then withdraw the entire amount of $10500 after 3 months, any challenges with that? Thank you.

ShawntheShawn
ShawntheShawn (@guest_1265288)
October 11, 2021 18:20

That should work. You are not required to invest the $10k, same for the 100 shares deal.

Terry
Terry (@guest_1265864)
October 13, 2021 00:08

Do you have to deposit $10,000 in cash or can it be in securities?

ShawntheShawn
ShawntheShawn (@guest_1265870)
October 13, 2021 00:24

It requires “initial funding amount of at least $10,000.00 USD.” So ACAT transfer may not work.

Deborah
Deborah (@guest_1271756)
October 23, 2021 22:05

Thanks for posting this. $200 or so back on $2,000 works better for me than tying up another $8,000 for three months for $300 more, At least, I hope there will be another checking or savings or credit card bonus for which I will need the $8,000.

Chuck
Editor
Chuck(@chucksithe)
October 24, 2021 14:30
Xatos
Xatos (@guest_1259446)
September 29, 2021 13:07

As long as the account is opened before the offer expires, I should be able to make a deposit after the offer has expired and still receive the bonus, correct? Does anyone have any DP’s for this? My hub isn’t supported by Plaid, so I’m still waiting for the micro deposits…

Xatos
Xatos (@guest_1261936)
October 5, 2021 08:53

Looks like it works, P2 did this and got the 100 shares email.