Tastytrade Brokerage Bonus: Deposit Bonus Of Up To $5,000

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

Direct link to 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 MYNEWBONUS. 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
    William Charles
  • On July 4, 2024, 09:00
Tags: brokerage bonusestastyworks

View Comments (267)

  • 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.

        • @guest_1996900,

          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.

          @2,

          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/

          1. No Spam or Solicitation: As a Referrer, you must comply with all up to date “spam” laws and may not engage in commercial solicitation of any kind in connection with the Program. For example, emails containing the Referrer’s Unique Referral Link must be created and distributed in a personal manner to people you know (e.g., friends and family), and bulk email distribution is not permitted. Any distribution of your Unique Referral Link on coupon sites or other websites created to take advantage of referral traffic generated from individuals searching for coupons or other discount codes, or otherwise in a way that could constitute unsolicited commercial email or “spam” under any applicable law or regulation is expressly prohibited, and will be grounds for immediate termination of your account and exclusion from the Program, as determined by tastytrade in its sole discretion.

  • moved in 30k of securities via acats. it was in my account on Jan 21. $500 bonus posted yesterday. gonna figure out how to buy SWVXX (or equivalent) to ride out the 12 months.

    Stock Buying Power $500.00
    Cash Balance $500.00

  • Do they take the initial deposit or the sum of all deposits during the promotion period to calculate the bonus amount?

    • Last year customer service told me to call them if I had to transfer in from multiple sources, they would manually review and apply the combined bonus afterwards. But this assumed you transferred everything in within a short time period

  • I'm possibly going to split the referral bonus (250) within a few weeks with someone i know on reddit who has been with Tastyworks for a good while.

    I called CSR and spoke to a competent CSR and he mentioned to me that it is possible to stack the referral with the main ACAT tier bonus. He said i would have to apply first with the referral link and input the 'MYNEWBONUS' code on the promo code tab during the application

    and he said that can also be done afterwards on the settings and preference column after the account had been opened.

    I'll post a DP on if the stack is successful. I'm just waiting a bit longer until my other Brokerage bonus terms are over in early February.

  • required to sit for a year

    The initial minimum funding amount of $2,000 USD to $1,000,000+ deposited into a Qualified Customer’s Qualified Account is required to remain in the Qualified Account for a minimum of twelve (12) months starting the date the Qualified Account meets the funding minimum (“Twelve Month Period”). The value of Cash Bonus the Qualified Customer receives will be credited to its Qualified Account upon deposit, but will be automatically debited out of the Qualified Customer’s Qualified Account if the Twelve-Month Period requirement is not met. The Cash Bonus will not be included in the Qualified Account’s buying power until the end of the Twelve-Month Period. Losses due to trading or market fluctuations will not be taken into account.

    • Trying this one more time. From what I see, there is nothing stopping us from also getting the additional $250 referral bonus. Is this the correct understanding?

  • I recommend actually doing the math before signing up for this bonus if you're an active trader. You might be better off just doing the referral bonus since there's less money tied up and a shorter holding period. They charge you for everything (things that some brokers don't charge for) and that will quickly eat away your bonus.

    For instance, even if you only sell 10 contracts a wk (contracts are $1 and they cap fees at $10), at 52 weeks, that's already $520. Some brokers don't charge these fees. So, not only would you lose your bonus if you did the $500 bonus, you will have "wasted" money by using this broker.

    This doesn't include the actual regulatory fees and margin interest. Some brokers also don't pass on some of the reg fees. They actually adjusted my account to ensure that I was charged an extra penny. 🤣

    I also intentionally limited my trading with them just to limit fees. But, after less than 2 weeks and not even 6 trades, the fees are about $10 less than the fees that I've racked up at a broker that I've placed over 80 orders with in a little over a month. I also found myself passing up on opportunities bc the fees would have taken away a good portion of the profit (the trade wasn't worth the risk at that point).

    Despite all of this, I still plan on using them, but not for active trading. I actually like them. This is more of a warning bc I have a feeling that some don't pay attn to the fees.

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