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Webull and tastytrade are two of the most popular online trading platforms. We’ve already compared these two platforms against their direct competitors and each other in past guides. This time, we’re turning the focus to which platform performs best for options trading.

The benefit of using Webull and tastytrade is that you can access the stock market, including options, directly from your smartphone. This in-depth guide takes a look at two of the most popular online broker platforms to help you decide which is best for your options trading.

What is tastytrade?

Founded in 2017, tastytrade is a popular trading platform that originated as an online video channel called tastytrade. The platform operates exclusively within the stocks and options market and was made specifically for options. tastytrade entire platform was made with option traders in mind, although its ideal for using for any type of investor. You’ll be able to take advantage of significantly lower pricing than what you would typically receive from major mainstream brokerages.

What is Tastyworks?

If you’re an active trader, tastytrade is an ideal platform for you. However, the platform does fall short on some of its financial instruments. As it focuses solely on stocks and options, you won’t be able to take advantage of fractional shares or invest in bonds or cryptocurrencies. These two financial instruments are something that you can utilize through Webull and other direct competitors of tastytrade.

One of the most popular reasons why traders choose tastytrade is due to its referral program, which is one of the few that can compete against the sign-up bonuses offered by Webull.

Through tastytrade, you’ll have access to three different trading platform options. You can utilize their website system, mobile app, and desktop to allow you to trade on the go. Wherever you’re heading, you can take tastytrade with you on the go so that you never miss out on options trades.

You can find out more about tastytrade in this in-depth tastytrade Review.

tastytrade Options Trading

At Tasty Referrals, we consider tastytrade to be one of the best platforms for options due to its low trading fees. The platform provides its users with extras, such as useful research tools and educational material that is ideal for helping beginners to trading learn the ropes and build their skills and knowledge within options trading.

We recommend tastytrade for options trading as the entire platform is geared towards this, with every aspect of the platform developed to support options traders.

With tastytrade, you’ll be charged $1 to open options trades, however you will not be charged to close any options trade. There is a $1.25 per contract charge for future trades.

If you’re looking to invest primarily in options, tastytrade is likely to be the best choice for you. The founders of tastytrade are options traders, meaning that the platform contains everything you’ll need to get up and running as an options trader. Their platform has an efficient and speedy interface, allowing you to start trading instantly.

You can customize your tastytrade dashboard to receive customized report options and price notifications so that you can execute option trades at the most optimum time. You can use your dashboard to establish single-le and multi-leg trades, along with taking advantage of the extensive options research that is available within the platform. Whether you’re a newbie to the world of options trading or a season pro, you’re guaranteed to learn something from tastytrade’ educational material.

Just like Webull, tastytrade offers $0 commissions, allowing you to maximize your portfolio and options trading. If you decide to open a margin account through tastytrade, you’ll need to make an initial deposit of at least $2,000 due to the Financial Industry Regulatory Authority’s regulations.

tastytrade Referral Program

We’re fans of tastytrade as the platform offers a referral link that is significantly higher in value than what you will find across the industry. Unlike other online trading platforms, your rewards will be based on the number of referrals that you make to tastytrade.

You’ll receive a referral credit for every successful referral that you get to join tastytrade. Unlike other referral programs, these credits have a higher value and can be used towards merchant items instead of in-platform credit or free stocks. You can use 2 referral credits for a Google Home or take advantage of the value of the referral program and use 750 credits on a Tesla Model S.

Tastyworks referral credits

It’s worth noting that you’ll only receive your referral credit once the referred user adds at least $2,000 to their tastytrade account. This amount needs to be deposited into their account within 60 days of joining tastytrade.

We have an in-depth guide that covers everything that you need to know about the tastytrade referrals program in this tastytrade referral article, including how to use the referral program to its full potential. Are you ready to get started with tastytrade and grow your options trades? You can sign up via our tastytrade referral link.

What is Webull?

Webull is $0-commission online broker platform that offers options trading and has a no minimum balance requirement, making it one of the most popular platforms in the industry. You can access a Roth IRA or traditional account through Webull, as well as taxable accounts for trading stocks and options. While Webull generally has a minimum balance requirement, you will need to deposit at least $2,000 for a margin account as per industry regulations.

What we love about Webull is that it isn’t just for options trading. You can trade over 6,000 different stocks and EFTs at a competitive margin rate, as well as 11 cryptocurrencies. Webull is an all-round trading platform, unlike tastytrade. With Webull, you’re in control of your portfolio to help you get the most out of every options trade and stock purchase.

We recommend using Webull if you’re interested in using options trading alongside other financial instruments, such as crypto trading and EFTs. Webull does not charge a commission fee for any trades, including options trading. However, you will occur a fee when using domestic and international wire transfers for deposits and withdrawals. You can also expect to be charged interest if you’re using a margin account through Webull.

You can find out more about how Webull works by reading our in-depth review on Webull here.

Webull Options Trading

While options trading is not the primary focus of Webull, it is one of the financial instruments that is available through the platform. The main benefit of using Webull for option trading over other platforms is its minimal fee. You can use Webull for using for basic and complex options trading. Complex options can only be accessed by accounts that have been approved by Webull, who will grant access based on your experience and track record on the platform.

Most online brokers charge $0.65 per contract for options trading, whereas Webull’s zero-commission policy includes 0% contract and assignment fees.

Webull Referral Program

One reason for Webull’s popularity is its referral program, which is amongst one of the most generous in the industry. Their referral program can help you maximize your potential on the platform and boost your portfolio for options trading.

When you sign up to Webull through a unique referral link, you will receive a free stock worth anywhere from $8 to $1,600.

Webull Referral: 2 Free Stocks

Webull is offering a new sign-up bonus of 2 free stocks that are valued at up to $3300 when creating an account through a Webull referral link. This limited-time offer operates differently from the standard Webull sign-up bonus mentioned above.

When you sign up, you’ll receive your first free stock that is valued from $3 to $300 as normal without needing to add funds to your Webull account. You’ll receive the second free stock, valued from $7 to $3000 once you make your initial deposit.

It’s worth checking back here to see the latest Webull referral and sign-up bonus offers to maximize your potential referral credit.

Once you’ve signed up, you can start sending out your own referral link to earn free stocks when others join the platform through your link. You’ll receive up to 15 free stocks for the first three people that you refer to the platform. After this, you’ll receive 2 free stocks per referral to Webull. You can expect to receive a free stock that is valued at up to $2,000 – with bonus promotions on referrals giving you free stocks valued up to $300.

For more information about Webull’s referral program – check out our in-depth guide in this Webull referral article.

tastytrade vs Webull for Options Trading

Deciding whether Webull or tastytrade is the best platform for your options trading will depend on your overall portfolio. If you’re looking to invest exclusively in options trades, tastytrade is a clear winner. The platform was made primarily for options trades, with every aspect of the trading platform designed to accommodate options trading. If you’re looking to create an all-round investment portfolio that includes other financial instruments, such as crypto currencies and EFTs, you’ll likely want to use Webull instead of tastytrade.

Both platforms off $0 commission and generous referral programs to help maximize the potential of your options trading investment portfolios. The best way to choose which platform will work for you is to consider your specific needs and what goals you want to achieve with your overall investing. Whether you choose Webull or tastytrade, you’re guaranteed to have the tools to help you get started and grow your options trading to give you financial freedom and long-term investment opportunities.