Tastytrade, accessible via https://tastyworks.com/, officially known as Tastytrade, Inc., is an online brokerage platform founded in 2017. It provides trading in options, stocks, and futures. Despite its offerings, tastytrade reviews highlight several concerns about its lack of regulatory oversight and suspicious licensing, which can raise questions about the safety of using the platform.
tastytrade Overview
Founded by the creators of the Thinkorswim platform, tastytrade offers competitive pricing with commission-free stock and ETF trades. Active traders find the platform appealing because it offers a wide range of trading instruments across several asset classes. However, tastytrade reviews point out significant drawbacks, such as its lack of regulatory oversight and limited trading platforms. Moreover, the high fees for wire transfers and limited customer support are concerns raised by users. While tastytrade offers transparency in its fee structure, the absence of regulation and oversight may deter some investors from fully trusting the platform.
Is tastytrade a Scam or Legit?
Although tastytrade is not a scam, it operates without sufficient regulatory oversight, which makes it a riskier option for investors. Their National Futures Association (NFA) license has been flagged as a suspicious clone, raising doubts about the legitimacy of its regulatory status. tastytrade reviews show that while the platform may appear legitimate, the lack of proper regulatory safeguards increases the risk for users, especially when compared to regulated brokers that offer greater investor protection.
Conclusion- Is tastytrade a fraudulent or legit broker?
While tastytrade offers an appealing commission-free trading experience, the lack of regulation and the suspicion surrounding its NFA license make it a less reliable choice. Before choosing to trade with tastytrade, investors should carefully consider the risks and perform due diligence.
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