[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.
    William Charles
  • On June 14, 2021, 21:20

View Comments (733)

  • 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?

  • 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

  • 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.

    • 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.

      • "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.

    • 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.

    • 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.

    • 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.

      • 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. @guest_1212316

  • 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...

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