Update 12/17/24: Extended to 3/31/25
Update 7/4/24: Two new tiers: $500k gets $4,000 bonus and $1M gets $5,000 bonus. New code is MYNEWBONUS.
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
NEWBONUS23MYNEWBONUS. 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”“MYNEWBONUS” 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
A heads up that this brokerage has the terrible policy to require full SSNs for a transfer on death (TOD) designation form. At least they have a secure document upload option. Good thing my funds won’t be with them forever!
how long do I have the hold the money in the account?
Expired. Not finding a new promo or extension.
FYI: I called TastyTrade and they said they might have a similar new offer in June or July.
Is this safe? What I mean to ask is – will my assets be safe in such brokerage accounts? Never heard of tastytrade before ?
FYI: I don’t see any indication that this promotion’s March 31st, 2025 deadline has been extended.
How do I close this account that has 3 cents in it? Can you transfer 3 cents out by ACH?
When was the last time they offered $500 for a $10k deposit? It looks like early 2022?
Anyone here got the 1099 for this bonus? Got the $2000, but don’t see any 1099 about it… Thanks
got 1099 by mail. 1099 on website does not show the bonus.
Was 1099 received in the mail different from the one on the web site?
Transferred funds over from fidelity but it turns out that mutual funds aren’t considered in the calculation of the total amount of assets transferred, So beware
Nowadays there is next to no benefit of using mutual funds over ETFs. I’d highly, highly recommend converting all mutual funds into ETFs for the future if you’re planning on moving things around. I know vanguard funds into vanguard ETFs can be converted without being a taxable event. I’d assume that’d be the case for all (if there’s an equivalent ETF).
Got at email today with new doubling of the referral bonus to $500. Details at https://tastytrade.com/referral/
AFAICT it doesn’t say what the new customer gets on that page or the referral link (e.g. https://open.tastytrade.com/signup?referralCode=A8D2ETNVB8 – example only, assume MYNEWBONUS is better).
If it’s 500 on the 5k deposit, that’s good for small transfers, but it could be zero, and most probably MYNEWBONUS is still better. I saw some reddit posts suggesting 250 on 5k was for the old referral though, so it made me wonder if the new one is 500. Anyone know how to see the terms?
Might be decent for P2 referral even without a bonus for moving 5k.
Got this email today. Looks like the referee just gets the pleasure of opening a brokerage account…
I wrote them and TastyTrade said referrals indeed get nothing with the referral code only, but there’s a way to get the MYNEWBONUS deal and a referral, as mentioned below by BankBonusIsMyReligion, but the instructions sound different. Here is exactly what they wrote:
They do not get anything for the referral program but they are able to use our code as well as yours when they sign up. So they can claim our promotion offer as well as give you credit. You can share this with them as well when you share your code for instructions on how to use ours.
1. Go to my.tastytrade.com and sign in.
2. Click manage towards the upper left of the website.
3. On the summary page, scroll down to the referral section.
4. In the promotion code section, add the code MYNEWBONUS.
Thanks for doing the legwork there!
I also received this referral offer and emailed them yesterday asking if the referee gets anything. They gave me a similar answer to what they gave you but haven’t replied yet to my question about how the person would use 2 referral codes. You must have asked them that and got that response.
I doubt that you will make a referral post for this since only the referrer would benefit from it and I know that you frown upon that. However, just in case you do want to create one, I feel that it would make sense to have the referrers supply our email addresses in the post instead of our referral links.
The reason why I say that is because of the below passage that I pulled from the T&C found at this link: https://tastytrade.com/referral/