Tastyworks Promotions for June 2021: Up to $600 worth of Free Stocks + $200 Crypto Bonus + $250 Sign up Challenge
Tastyworks has one of the most generous sign-up promotions among all stockbrokers. As of June 2021, you can get one of the three active tastyworks sign-up promotions. The first promotion is 100 shares of stocks (up to $600 in value) when you open and fund a cash or margin account before the end of the promotional period (06/30/2021). The second promotion is $200 worth of cryptocurrency, and the third tastyworks promotion is a trading challenge, where you will have an opportunity to earn $250 by test driving a simulated tastyworks account. Below, we will go over these promotions. Additionally, we will explain how you can earn more cash through tastyworks referrals.
To find out why tastyworks is one of the best stockbrokers today, make sure to read our Tastyworks Review and other related articles.
Tastyworks Promotion: 100 Free Stocks or 10 Options
The most recent tastyworks promotion is an opportunity to receive 100 shares of stocks. To qualify for this promotion, you must be an approved new customer and fund your tastyworks account with $2,000 USD. This offer is valid from 07/01/2020 to 06/30/2021. Tastyworks will post the promotional stocks to your account approximately one week after your account is funded with $2,000 USD. According to the promotion terms, the stocks will be priced between $1 and $6 USD. Here are your odds of the stock allocation determined by tastyworks promotion algorithm:
- 70% chance of receiving a stock priced under $2 USD per share.
- 30% chance of receiving stock priced over $2 USD per share.
The overall value of the stocks received will average $200-220 USD based on the price of shares at the time of purchase by tastyworks.
How long will it take to receive your 100 stocks?
Tastyworks will post the promotional stocks to your account approximately one week after your account is funded with $2,000 USD. However, if you read the tastyworks promotion footnotes, you will find that the funds must stay in your account for a minimum of 3 months from the day shares are deposited into your account. Although you can sell your shares at any time, you cannot withdraw your initial $2,000 deposit nor the money you received from the sale of your 100 shares during this 3 months period. Withdrawing the initial deposit will result in removal of the promotional stocks or their cash value from your account.
Tastyworks Promotion: $200 Crypto Promotion
The second tastyworks promotion is for those who are interested in trading cryptocurrencies. You can receive $50 or $200 worth of cryptocurrency when you open and fund a new tastyworks account before 6/30/2021. To qualify for this promotion, you must be a legal U.S. resident who does not live in New York or Hawaii, and be 18+ as of date of participation.
- To get $200 worth of cryptocurrency, open and fund a new account with $2,000.
- To receive $50 in cryptocurrency, open and fund a new tastyworks account with $200.
To receive this tastyworks promotion, you must also open a digital currency trading account with Zero Hash through the tastyworks Customer Account Management site. Additionally, you must hold the initial deposit and the crypto bonus in your account for at least 3 months.
Tastyworks Promotion: $250 Sign-up Promotion
Another ongoing tastyworks promotion is the $250 trading challenge. Basically, tastyworks will pay you to try out their platform. All you have to do is open an account and let the tastyworks support team know that you want to participate in the tastyworks trading challenge. You will get two days or two consecutive trading sessions to paper trade stocks and ETFs. Note that while you will have access to real-time equity, ETF, and Futures option data during your simulated trading sessions, equity and Futures option profits do not count towards the profit for this promotion.
At the end of the two days, tastyworks tallies up your earnings, and if you earn at least $250, they’ll pay you the earnings (up to $250) in real cash in your account. Lastly, to receive this promotional award, you must fund your tastyworks account with at least $2,000 USD within 30 days of completing this challenge.
Somethings to keep in mind about this tastyworks promotion:
- You are limited to $5,000 in buying power during the trading challenge period.
- You must complete the trading challenge period within 14 days of registering for a trading challenge account.
- The only accounts that qualify for this promotion are individual margin or cash accounts.
- You must fund your account with a minimum of $2,000 USD within 30 days after completing the trading challenge.
Tips for winning the Tastyworks promotion challenge
Making $250 with $5,000 in two days may seem difficult, especially if you are new to trading. However, it is doable during the recent market volatility. Before you read further, keep in mind that any trading advice provided on this blog are for educational purposes only. Nothing in the trading challenge simulation is intended to perfectly replicate the real trading environment. With that said, here are our tips to win the $250 trading challenge:
First, stay away from penny stocks for this challenge (or to be honest ever). The current market volatility offers enough opportunity to make $250 in highly liquid stocks. Second, follow the trend. We have seen 1-2% moves almost every day in major indexes since March. That said, on any given day, you can get a decent idea about the broader market direction from the pre-market moves. Start the trading challenge as early as possible on the first day because your challenge ends at the second market close. Fortunately, some rules of trading such as pattern day trading (PDT), use of unsettled funds, and hard-to-borrow status do not apply to this trading challenge. This means that you can make as many trades as you want during the trading challenge period.
The biggest advice we can give you is to not risk more than 10-15% of your account balance ($1000-1500) on any trade during this challenge. You don’t have to make all $250 in one trade. If you are not sure which stocks to trade, try using an online stock screeners such as trade-ideas or Finwiz. Additionally, you can hop on the trade-ideas free trading chat room every morning, where expert day trader Barrie Einarson shows you his trade-ideas scanner and takes live trades in real-time. We love and have been using the trade-ideas for over a decade and highly recommend it.
Can you combine Tastyworks promotions?
You may be wondering if you can combine tastyworks promotions to earn up to $1050 ($250 from the trade challenge, $200 in crypto, and up to $600 from free shares). We reached out to the Tastyworks support team to find out. Unfortunately, sign-up promotions cannot be combined. We recommend the 100 shares promotion as it requires less work and is guaranteed cash in your account (requires less work). Based on our internal referrals, most shares are priced at about $2.00-$2.50 when they post to your account. However, this should not keep you from trying the $250 trade challenge or open a crypto account. If you’re a skilled trader and feel confident that you can earn $250 with $5000 paper money, then you should give it a shot.
Tastyworks Traders Day Appreciation Promotion
Every August, tastyworks offers commission-free trading on a single day as a token of appreciation for using their platform. The tastyworks promotion applies to equity options only and is a great opportunity to place many small multi-legged options trades (such as iron condors) with a high probability of profit. Note that this promotion is for free commissions only. Clearing, regulatory, exchange, and proprietary index option fees still apply to both opening and closing trades. This year, Trader Appreciation Day is on the 20th of August. This promotion expires on 06/30/2021.
Tastyworks Referrals: Receive $100 per referral
In addition to tastywroks sign-up promotions, you can receive cash prizes from tastyworks referrals. Tastywork’s referral program is quite generous, paying $75-100 in cash prizes for each referral. Read my full review of the tastyworks referral program or sign-up for a tastyworks account with this referral link. If you haven’t made your mind about opening an account yet, read this tastyworks review and learn why tastyworks has the potential to be one of the best stock brokers out there.
Past Tastyworks Promotions
For newcomers, it may be interesting to know some of the most recent tastyworks promotions. On May 1, 2020, Tastyworks awarded a model 3 Tesla to one tastyworks customer. To qualify for that promotion, all you needed was a tastyworks account with a minimum of $2,000 balance at the time of the drawing. Tastyworks is a new brokerage firm, and as with all start-ups, customer acquisition comes at a cost. Let’s be honest, there is no shortage of stock/options brokers today, though there is a shortage of professional brokers with low fees and commissions. Commission and fees are where tastyworks truly shines, as tastyworks has the lowest commissions and fees for options and stocks among professional brokers. While the higher cost of user acquisition may be a heavy expense for tastyworks, it presents a great opportunity for new customers to benefit from tastyworks promotions.
One of tastyworks’ competitors is Robinhood. If you want to know how these two platforms compare, read Tastyworks vs Robinhood.
I have been watching the YouTube videos for TastyWorks lately and really like it.
What is the promotion if I open an account with $250K to $500K?
Hi Yin,
Currently, the only active tastyworks promotions are the 100 free stocks and the $250 trade challenge. Additionally, you will get lower margin rates with a 250-500k deposit (6% instead of the standard 8%). As far as we know, there are not any perks for depositing more funds. You may want to reach out to the tastyworks support team and see if they will give you a special commission rate with a 250-500k deposit.
“Although you can sell your shares at any time, you cannot withdraw your initial $2,000 deposit nor the money you received from the sale of your 100 shares during this 3 months period. Withdrawing the initial deposit will result in removal of the promotional stocks or their cash value from your account.”
–> If I deposit $10,000 initially when I open an account and wants to withdraw $8,000 during the 3 months period ( still leaving $2,000 in tastyworks account) , would the $8,000 withdrawal disrupt the 100 shares bonus or is it okay since I’m still leaving the $2,000 ?
I’m asking b.c if its not okay, I will separate it into 2 deposits, like $2000 and $8000 separately
Hi Sam – We reached out to the Tastyworks support team and they confirmed that removing a portion of your initial deposit will not disqualify you from receiving the sign-up promotion, as long as you keep at least $2,000 in your account in the first 3 months. Please let us know if you have any other questions.
Does the initial deposit need to be 2k, or can there be multiple deposits equalling 2k before end of promotion?
Hi Thomas, here is the Tastyworks support’s response to your question: “It can be funded with multiple deposits to bring the value to $2000, if you fund it in this manner let us know when the account is at $2000 so we can apply the promotion for you.”
If I use the referral code, do I still get the 100 shares? Can’t see any information on the 100 free shares when I click the referral link. Can someone please clarify?
I used a referral code to sign up and still received 100 free stocks. if you don’t receive the promotion after a couple of weeks just contact the support and inquire about it. That’s what I did.
Does the promotion also good for a Roth IRA account? Will the 100 shares of stock be subtracted from the Roth Annual deposit limit?
Hi Viladeth – According to the promotion terms, Trusts or IRA accounts are not eligible for the stock or options award due to tax reasons.
Hello, I am considering opening an account. Is the $250 Challenge open to non-US citizen too?
Hi Robert – The $250 challenge is only available to us residents. This is also noted in the terms of the promotion: https://challenge.tastyworks.com/challenge.html