Update 5/11/23: There is a new $3,000 tier. New code NEWBONUS23. Hat tip to anita
The Offer
- Tastytrade (previously called Tastyworks) is offering a bonus of up to $2,000 when you open a new non-IRA Tastyworks account with promo code NEWBONUS23. Bonus you receive depends on how much you fund:
- Fund $5,000 and get a bonus $100
- Fund $25,000 and get a bonus $500
- Fund $100,000 and get a bonus $2,000
- Fund $250,000 and get a bonus $3,000
The Fine Print
- The Promotion is available to (1) all approved new customers (as determined by Tax ID) who fund their tastyworks account with $5,000 USD or more, and (2) existing customers who have never funded any tastyworks account prior to the start of the Promotional Period, and who fund their existing brokerage account with $5,000 USD or more (each, a “Qualified Account”). All approved new customers and existing customers must be legal U.S. residents and ages 18+ as of the date of participation. In order to be eligible for this Promotion, approved new customers must include the Referral Code of “TIERED_2022” in the REFERRAL CODE FIELD when applying for an account, and existing customers must receive an email from Sponsor confirming they are eligible to participate in the Promotion (upon approved new customers entering the Referral Code, or existing customers funding any current account after receiving an email confirmation of eligibility, approved new customers and existing customers shall be referred to herein as a “Qualified Customer.”) The Promotion is not valid for customers who have any existing, funded tastyworks brokerage account prior to the start of the Promotional Period. IRA and TRUST accounts are not eligible for the Promotion. Only Qualified Customers with Qualified Accounts are eligible for the Cash Bonus. Employees of Sponsor and its affiliates, subsidiaries, divisions, fulfillment and advertising and promotion agencies, their immediate family members (spouse, parent, child, sibling, and their respective spouses, regardless of where they reside), and those living in the same household of each such individual, whether or not related, are not eligible.
- The Promotion is not open to persons who reside in any jurisdiction where tastyworks is not authorized to do business, where its products and services would be contrary to the laws, rules, and regulations governing the securities industry, the futures industry, or where otherwise prohibited under the local laws, rules, and regulations of that jurisdiction. The Promotion is not valid for internal transfers, and is not transferable, saleable, or valid in combination with certain other offers.
Our Verdict
Previously we have seen bonuses of $200 when funding $2,000 or $500 funding $10,000+. The top bonus is more but obviously requires a lot more funding. For most people I’d recommend waiting for one of the smaller deposit bonuses to return.
Hat tip to Yj32
Initiated a partial ACAT from Chase Brokerage on the 10th and it finalized on the 15th.
I had transferred everything except some cash and 3 fractional shares of various holdings. Logged into Chase today to find all those fractional shares had been sold on the 15th and I only have cash holdings. I have no idea why they did that. Any ideas?
Extended to 12/31/2024
Been trying for the past two days, get the error “Oops! Something went wrong. Please try again later. Unique customer support identifier: xxxxxxx” each time.
For initial fund via ACAT, looks like I have to initiate it from TastyTrade portal by linking my other brokerage account and selecting what to transfer from the embedded window. Any advice on what I should pay attention to? This is my first time doing the ACAT from the receiving side. Thanks.
Anyone know if TastyTrade reimburses ACAT transfer fees that other brokerages charge?
Also does anyone know if TastyTrade will preserve cost basis when transferring assets here?
Chuck There are new tiers available including $4,000 bonus for $500k transferred and $5,000 bonus for $1M transferred.
I can answer my own questions. Yes they reimburse up to $75 in fees from other brokerages and yes they preserve cost basis.
I can confirm that they reimburse ACAT fees. They don’t mention it in the offer terms but it is mentioned on one of their support pages. I submitted a statement with the fee and it was reimbursed a few days later.
Anyone know how soon the account must be funded? Typically other savings/brokerages say within 30 days of opening.
Does this account need to be linked to another account and transfer initiated during the sign up process? Or can I link some accounts after opening and initiate transfers afterwards and still qualify?
Called in to find an answer. The funding applies to initial funding made on account open. However, if you’re funding from multiple accounts you can do so and then call in to have them apply a bonus for the full amount transferred in. Sounded like their automated system takes the first deposit and pays out the bonus pretty quickly so any additional funding must have bonuses manually applied
I was able to get the bonus after doing the 100 free shares of stock a few years ago. I emailed support and told them how around how much I was moving which was six figures. They agreed to pay a bonus while subtracting the value of the previous bonus. The $25k tier wouldn’t leave you with much after the subtraction even if they were to agree to that.
This should be on the list of best brokerage bonuses which contains mostly expired bonuses right now. Nobody is offering a better bonus for taxable accounts AFAIK. There have been better bonuses for very small amounts as mentioned but it’s questionable whether those will come back. I suspect their management realized all those did was attract churners rather than long-term customers.
Would I be eligible for this if I open a new account for me, but the assets I transfer in are into a new joint account with a P2 who already has a tastytrade account? Anyone tried this?
Had an account over 2 years ago for $200 bonus. Customer Service confirmed I am NOT eligible for this bonus.