Alternatives to tastytrade
tastytrade is known for low-cost US options and shares trading with zero brokerage and no monthly platform fee, making it a strong choice for active US market traders. However, it uses a custodian model (not CHESS-sponsored), doesn't support ASX shares, and lacks features like auto-invest, kids accounts, and DRP. If you're after CHESS sponsorship, ASX trading, or a broader feature set, there are solid alternatives. We've listed 6 platforms worth considering, each offering something different from what tastytrade provides.
Offers CHESS-sponsored ASX trading plus US options, with auto-invest and DRP features tastytrade lacks.
- ASX brokerage minimum
- $3
- ASX ETFs supported
- Yes(tastytrade: No)
- CHESS sponsorship model
- chess(tastytrade: custodian)
Zero-commission US shares with CHESS sponsorship for ASX trades, plus options and auto-invest capability.
- ASX brokerage minimum
- $1
- ASX ETFs supported
- Yes(tastytrade: No)
- CHESS sponsorship model
- chess(tastytrade: custodian)
CHESS-sponsored with auto-invest, kids accounts, and SMSF support — ideal for long-term ASX investors.
- ASX brokerage minimum
- $6.5
- ASX ETFs supported
- Yes(tastytrade: No)
- CHESS sponsorship model
- mixed(tastytrade: custodian)
Mixed CHESS/custodian model with cheap ASX trades from $3 and fractional US shares for diversification.
- ASX brokerage minimum
- $3
- ASX ETFs supported
- Yes(tastytrade: No)
- CHESS sponsorship model
- mixed(tastytrade: custodian)
Access to 30+ global markets with low US brokerage from $1 and advanced options trading tools.
- ASX brokerage minimum
- $6
- ASX ETFs supported
- Yes(tastytrade: No)
- CHESS sponsorship model
- custodian
CHESS-sponsored ASX and US trading with auto-invest, DRP, kids and SMSF accounts from $9.50.
- ASX brokerage minimum
- $9.5
- ASX ETFs supported
- Yes(tastytrade: No)
- CHESS sponsorship model
- mixed(tastytrade: custodian)
Common questions
Is tastytrade CHESS-sponsored?
No, tastytrade uses a custodian model for holding shares. This means your US shares are held in the broker's name on your behalf, not under your own HIN. If CHESS sponsorship and direct ownership of ASX shares matters to you, look for a broker that offers CHESS-sponsored trading.
Can I trade ASX shares on tastytrade?
No, tastytrade focuses on US markets only. It does not support trading on the ASX. If you want to invest in Australian shares alongside US markets, you'll need a broker that offers both ASX and US trading in the one account.
Does tastytrade offer auto-invest or dividend reinvestment?
No, tastytrade does not support auto-invest (DCA) or dividend reinvestment plans (DRP). If these features are important for building a hands-off portfolio, consider a broker that includes automated investing and automatic dividend reinvestment.
What are the fees for options trading on tastytrade?
tastytrade charges zero brokerage for US options and shares, with no monthly platform fee. This makes it very cost-effective for active options traders. Other brokers that support options may charge per-contract fees or have minimum brokerage amounts.