been using both for 2+ years.
different tools for different jobs.
tastyworks #
what I use it for:
- premium selling strategies
- quick options trades
- mobile trading (when traveling)
pricing:
- $1 per contract to open, $0 to close
- no ticket fees
- no exercise/assignment fees
pros:
- designed by options traders, for options traders
- probability of profit displays everywhere
- IV rank/percentile front and center
- mobile app is actually good
- trade execution is fast
cons:
- API is limited compared to IB
- no futures options
- charting is basic
- research tools are minimal
interactive brokers #
what I use it for:
- algo execution (primary)
- futures
- complex multi-leg strategies
- overnight risk management
pricing:
- $0.65 per contract (volume discount)
- no ticket fees
- low margin rates
pros:
- best API in the industry
- global market access
- lowest costs at volume
- professional platform
- futures + futures options
cons:
- steep learning curve
- TWS is bloated
- mobile app is meh
- customer support is slow
head-to-head #
| feature | tastyworks | interactive brokers |
|---|---|---|
| options pricing | $1 open, $0 close | $0.65/contract |
| API quality | basic | excellent |
| mobile app | excellent | poor |
| options focus | designed for it | general platform |
| futures | no | yes |
| learning curve | easy | steep |
| probability tools | excellent | basic |
my setup #
tastyworks: manual options trades, premium selling
IB: algo execution, futures, overnight positions
which to choose? #
if you’re starting out: tastyworks
better education, easier platform, options-focused.
if you’re automating: interactive brokers
API makes everything possible.
if you can only pick one: depends on your style
- premium sellers → tastyworks
- algo traders → IB
- hybrid (like me) → both
I run ~70% of my options volume through IB (algo-driven) and ~30% through tastyworks (manual premium sells).
the NexusFi broker reviews section has user experiences with both. worth reading before committing.
verdict #
tastyworks: 8/10 for manual options trading
interactive brokers: 9/10 for algo trading
both: A+ for what they’re designed to do.
2:52am friday. tastyworks vs interactive brokers after 2+ years. tastyworks: best for manual options ($1/open, $0/close), mobile, probability tools. IB: best for algos ($0.65/contract), API, futures. I use both - 70% IB (algo), 30% tastyworks (manual). if starting: tastyworks. if automating: IB.
-AK