Gatsby Review

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Contributor, Benzinga
Updated: May 18, 2021
Best For
  • New investors
securely through Gatsby's website
1 Minute Review

Gatsby is a trading app that provides users with a less intimidating way to enter the options market. With a simple layout and social trading features, Gatsby offers investors an easier way to trade options without incurring expensive commissions. Though the platform doesn’t offer most of the stock analysis tools and educational options provided by competitors, Gatsby can provide users with a faster and more intuitive way to trade options and stocks. In the future, we can’t wait to see how Gatsby continues to expand its customer service and educational options.

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Best For
  • New investors
  • Investors looking for a fee-free way to trade options
  • Investors interested in earning rewards when they trade
  • Simple risk meter provides new investors with an easier way to gauge their trade’s chance of profiting
  • Intuitive layout can be ideal for new investors
  • Investors earn gift card rewards when they use Gatsby to invest
  • $0 fees and commissions and a $10 account minimum make Gatsby accessible
  • Limited educational resources
  • Limited routes to contact customer service

Gatsby Ratings at a Glance

Fees and Account Minimums
Ease of Use
Customer Support
Mobile App

Gatsby Quick Summary 

Tradable assetsStocks, options, ETFs
PlatformSimple, streamlined and stylish; suitably for new users and investors
Mobile appMobile-only application
Account minimum$10 initial deposit required to open an account 
Available account typesTaxable

Gatsby Fees and Account Minimums

Like many brokers aimed at millennials and younger investors, Gatsby has gotten rid of traditional commissions associated with investing. When you use Gatsby to buy and sell shares of stock and options contracts, you’ll pay $0 in commission to the broker. This fee schedule applies to both stock and options investments. You can even earn rewards each time you place a trade, which can be redeemed for gift cards from major retailers.

Though there is no minimum amount of money that you need to spend per trade that you place, Gatsby does require a $10 initial deposit to open your account. Margin trading and retirement account investing are currently not supported by Gatsby.

Gatsby Ease of Use

Gatsby’s simple and straightforward platform is a main draw for new investors who have never traded before. Some of the features offered by Gatsby that make the platform easy to get started with include:

  • A simple, intuitive signup process. Beginning with Gatsby is easy. Simply enter a bit of personal information, your contract info and get started with your account. Most users will be able to fully open and access their investing account in as little as 5 minutes. 

Gatsby’s straightforward platform and intuitive design makes it easy for anyone to get started investing.  

  • An easy-to-master platform. If you’re completely new to options or stock trading, Gatsby might be the ideal platform for you. The company’s mobile setup is intuitive and easy to master. Swipe and tap through options ideas, account settings, buy and sell orders and more. Gatsby guides you through the process of making your first investments with a simple step-by-step format that even completely new investors can follow. If you’ve ever found yourself intimidated by the sheer number of tools, charts and screeners found on a brokerage platform, Gatsby was built with you in mind.
  • Social trading features. Easily connect to your social media accounts to trade along with friends and gain new investment ideas. You can access social trading features with a quick swipe after connecting your accounts.

Overall, we awarded Gatsby with high marks for new user functionality. Though the platform lacks many of the more advanced analysis and testing features that come along with most other trading platforms, Gatsby can provide an easier and more simplified option for investors who are just getting started trading. 

Gatsby Education

Gatsby offers a few tools that you can use to learn more about stock and options trading before you get started. Some of the platform’s most popular tools include:

  • An easy-to-follow trading FAQ. Gatsby’s FAQ section goes beyond questions about troubleshooting issues on the platform. Learn about buying power, how to decipher the Greeks and a little more about the functionality of investing, all with a few simple and easy-to-follow instructions.
  • Greeks and risk meters. One of the most confusing parts of options trading for beginners is understanding risk and volatility factors. Gatsby provides investors with both Greek ratings and a more straightforward “risk meter” that you can use to judge how likely it will be that your option is in the money at the time of expiration.
  • Social trading. Sometimes, the best way to learn about the market is to connect with other traders. Gatsby’s social trading features allow you to connect with other investors on your skill level and exchange trading ideas all without leaving the app.

Though Gatsby may offer a few unique tools that you can use to learn more about trading, we’d love to see the platform offer more in-depth research and education options in the future. This will help new investors gain a better grasp on the market and how to judge market conditions before they risk any of their own money. If you do decide to invest with Gatsby, we recommend adding a secondary source for investment news and analysis. 

Gatsby Customer Support

With a new hack or security breach making the news seemingly every week, maintaining a great relationship with your customers through your support team is essential. Gatsby currently offers only 1 method you can use to contact customer support:

  • By email. To get in touch with Gatsby by email, send a message to Email support is available 24/7 — for the fastest response time, be sure to include specific details about the issue you’re running into.

In the future, we would love to see Gatsby incorporate a wider range of customer service options for users — especially a live chat option or a phone number for users. 

Gatsby Offerings

Gatsby offers access to the following asset classes:

  • Stocks. A share of stock represents partial ownership in a company. Gatsby currently allows you to buy and sell shares of stock in some of the largest companies — including Apple and Tesla.
  • ETFs. An exchange traded fund (ETF) is a bundle of stocks that trade together throughout the day using the same method as a standard share of stock. Gatsby also supports ETF trading, and you can also trade options for ETFs as well.
  • Options. An options contract is a financial instrument that gives you the right to buy a set number of stocks at a specific price in the future. If you own shares of stock, you can also sell an option that obligates you to sell a set number of shares in the future at a specific price. Gatsby supports free options trading on supported stocks and ETFs.

Currently, Gatsby does not support futures or cryptocurrency trading. Gatsby also doesn’t currently offer access to mutual fund investing. 

Gatsby Mobile App

Gatsby is a mobile-only platform, which means that it doesn’t currently support desktop trading. This means that you’ll need to download Gatsby’s mobile app on your phone if you want to use the broker. Thankfully, Gatsby’s app offers a number of mobile features that make trading on-the-go simple, including:

  • Personalized alerts. No time to stare at your phone waiting for a buy or sell signal? Personalized alerts tailored to your trading let you know about upcoming earnings reports and more.
  • A stylish platform. Gatsby’s platform boasts an intuitive, stylish design that new users will love.
  • Earnings tracking. When you trade through Gatsby, you don’t just invest your money — you also earn rewards that you can use to trade in for gift cards. Tracking your rewards through the Gatsby app is easy, and you can quickly claim your rewards as well.

The Gatsby app is currently available as a free download for both Apple and Android platforms. 

Gatsby Overall

If you’re a new investor and you’re looking for a simple way to start trading, Gatsby can be an excellent choice for mobile trading. Though the platform lacks many of the analysis and educational tools offered by other trading platforms, users who are looking for the easiest way to trade without incurring commissions may find Gatsby’s app to be a breath of fresh air in an oversaturated landscape. Unique features like trading rewards and social trading enhance Gatsby’s beginner-friendly format.

In the future, we would love to see Gatsby institute more educational content and resources for users to learn more about options before they begin trading. We’d also love to see the app expand its customer service routes to be more inclusive to its customer base.  

Frequently Asked Questions

What are the benefits of using Gatsby?

Gatsby offers commission-free trading, $10 account minimums and risk assessment tools.

What are the drawbacks of using Gatsby?

The disadvantages of Gatsby include poor customer service and fewer educational resources.

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