Tutorial how to fund your TastyWorks account

In this article, I will provide an example how you can transfer fund to your new TastyWorks account via wire transfer from overseas to US. Beware that the information is accurate at the time of writing of this article. You should always refer to the information provided to you by TastyWorks before actual fund transfer.

You can wire your money via Citibank or CIMB Bank if you are located in Malaysia. I found that many people were having problems transfer money to fund their trading account; some said the bank told them some rules from BNM that can not transfer more than x amount of money; some said should set up a USD currency account in local bank, only then transfer the money etc. I have no issue funding my account. You can visit CIMB Bayan Baru Branch or Citibank Penang if you are located in Penang. The staffs there have experiences for this type of transfer.

Please be aware that your fund transfer may be rejected even it is a small error in your form. The fund returned to you will be lesser than you sent initially after currency conversion both ways as well as processing charges from both US and your bank. So always double check your information before transfer your money.

If you want to take advantage of the "Bob the Trader" promotion, you need to transfer at least USD2000. Noted that US bank agent's charges might be around USD25 to 30 per transfer. So it is good to transfer at least USD2030 or ask details from your bank.

 

I am using CIMB transfer form as example.

cimb form for fund transfer to tastyworks 

[1] Check on Telegraphic Transfer

[2] Check on F/X treasury contract

[3] Enter beneficiary's particulars

tastyworks via Apex Clearing
350 N. St. Paul Street
Suite 1300
Dallas, TX 75201

[4] Enter beneficiary's bank particulars and account number

BMO Harris Bank
111 West Monroe Street
Chicago, IL 60603
A/C #: 1619329
 
[5] Enter your particulars.
[6] Check your resident status.
[7] Check how you want to pay all bank's charges outside Malaysia
[8] Your CIMB account number where the fund will be debited.
[9] & [11] Your signature
[10] Reason of fund transfer : Investment.
[12] -
[13] & [14] Ask the bank to separate your total fund transfer and US agent's charges. For now TastyWorks will reimburse your initial wire fees. It is USD27 for CIMB.
[15] Enter SWIFT Code HATRUS44
 
Bank will do the rest of the work for you. 
Remember to print and attach the page below to CIMB. This is to show that your money is transferred for investment purposes.
CIMB also requires you to sign a declaration form for their internal use.
 
tastyworks account info
Okay and now you are done. Send a copy of the transfer form above to TastyWorks for reimbursement after you see the money in your live account. 
Good luck and happy trading!

 

Comments  

#6 Small Potato 2018-12-08 07:48
Hello Kc,
Yes I am in Penang. But I would like to stay anonymous. Small potato only ya... :)
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#5 Kc 2018-12-08 07:45
Thanks potato. By the way, r you base in Penang. Can I have your WhatsApp for some sharing? My number is 012 3155 two 00
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#4 Small Potato 2018-12-08 07:00
Hello Kc,
TOS is more complete as a trading platform, especially when come to drawing technical chart, scanning and even writing custom scripts. Commissions is higher than other platforms.

Tastyworks is more tuned to options trading with great user interface, and cheap commissions too.

I trade using both platforms.
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#3 Kc 2018-12-08 01:32
Thanks Potato. What's your experience using tasty compare to others like TOS?
I was told that the charting wasn't as good even though it's cheaper in term of comissions.
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#2 Small Potato 2018-12-07 20:41
Hello kc,
Login to Tastyworks, go to My Money menu and select Withdrawal. Select withdrawal by Wire. Fill in your bank info for transfer request. Overseas wire transfer fees is USD45. Good luck.
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#1 Kc 2018-12-07 18:47
Hi, what is the process of transferring the money back to Malaysia bank account?
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