hcgdavis 10:35 am on Wednesday, March 20, 2019

Tastyworks vs. TOS

Have enough cash sitting around to open another account. I know some of you are using tastyworks. I applied but have not funded yet.

Questions
1. Execution and platform similar to TOS? TOS saves me money not on commissions but they usually wiggle in between the bid/ask (that saves me more than commissions)
2. Any additional tools on tastyworks that make it worthwhile?
3. Any problems with it?
4. Any idea what the portfolio margin limit is?
5. Do you have to get the market feed (currently $100 a year), or is there enough data on the platform to make it work without it?

Thanks in advance.

Of course I can also move the money to an existing TOS account, that’s why I am curious about the works.

fuzzballl 11:00 am on Wednesday, March 20, 2019

1. Seems similar best I can tell
2. Not that I see
3. Doesn’t fit real good on a smaller laptop screen but ok on my home computer setup.
4. Not available yet AFAIK
5. I haven’t paid for anything extra

Still prefer TOS overall. Rolling on tastyworks isn’t as user friendly as TOS unless you’re willing to accept their default rolls without experimenting with different strikes. I still tend to simulate the rolls in TOS and then do them in tastyworks (and Fidelity). I just don’t see anything out there that can be as user friendly for the option trader as TOS is.
- hcgdavis 11:03 am on Wednesday, March 20, 2019
  
  Thanks, I am having trouble getting someone on chat line as well, so that answers my question. Stick with TOS and add money to those accounts.
  - fuzzballl 11:06 am on Wednesday, March 20, 2019
    
    I tried TW for awhile with a small account and ended up moving it back to TOS. Platform is ok but just can’t beat TOS IMHO…
- thomberg1201 12:13 pm on Wednesday, March 20, 2019
  
  I agree with the rolling aspect!
thomberg1201 11:07 am on Wednesday, March 20, 2019

-I’m using both and don’t see any difference in performance and fills in executing trades but I am almost always trading a 1 lot. I’ve mentioned TT in negotiating lower trading costs with TOS.
-I like their analysis better than TOS, it’s easier for me, but I’m not a sophisticated trader like some. The “curve” look when setting up a trade makes it real easy for me to see the possibilites.
-The margin requirements appear the same as TOS. I originally funded my TT account with 5K, and had AAPL assigned on a put spread. I only had to add 5K more. As an example, I’m looking at a strangle in DIS, $1500 is all that is required for margin.
-I think the $100 you are seeing is for their “futures exchange” that is being promoted. I think all the other data is there, even without an account.
-I don’t know how the advanced features of TOS compare, but the same people for the most part have created both. For me, the Greeks and IV are easier to read and find on TT, but that may be my lack of understanding of some TOS features.
mortlightman 12:51 pm on Wednesday, March 20, 2019

I use both, the charting in TT is not good. Execution prices seem about the same and speed is also. It takes a bit of time to get used to it but works fine.