4-star brokerage firm rating

Optionshouse Review

2-star brokerage firm rating

eOption review

eOption vs Optionshouse



Optionshouse vs eOption 2014: Account Pricing, Commissions, Fees




Optionshouse


eOption

  • Stocks and ETFs: $4.75
  • Stocks and ETFs broker assisted: $4.75
  • Two plans for options:
    1. Up to five contracts for $5; each additional contract $1
    2. $8.50 + 0.15/contract (great if trading over 10 contracts)
  • Two plans for spreads:
    1. Up to 10 contracts for $10; each additional contract $1
    2. $12.50 + 0.15/contract
  • Mutual funds: $9.95
  • Orders for U.S. Treasury bonds and listed corporate bonds are accepted by phone
  • Investments: stocks, options, mutual funds, bonds, ETFs
  • Optionshouse minimum deposit to open account: $1,000 for cash account, $2,000 for margin account
  • All Optionshouse fees
  • Optionshouse login, Optionshouse promotion code

  • Stocks and ETFs: $3
  • Options: $3 + $0.10 per contract
  • Option Exercise and Assignment: $9
  • Foreign Stocks: $39 (order must be placed with a broker)
  • Extended Hours Trading: $25 for up to 5,000 shares, $0.003 per share for over 5,000 shares
  • Mutual funds: $14.95
  • Listed Bonds: first 25 bonds - $5 per bond, each additional bond - $3 per bond, minimum - $39
  • Investment products: stocks, options, mutual funds, bonds, foreign stocks, ETFs
  • eOption minimum deposit to open account: $0 for US; $5,000 for international accounts
  • All eOption fees
  • eOption promotion code




Optionshouse vs eOption: Pros



Optionshouse


eOption

  • Low commissions
  • Free streaming quotes
  • No fee IRA accounts
  • No volume requirements, or maintenance or inactivity fees
  • Free check-writing privileges
  • Free DRIPs/Dividend Reinvestment (complete, non-fractional shares only)
  • Very low margin rates
  • Free virtual trading

  • Very low commissions
  • Great margin rates
  • Dividend reinvestment plan




Optionshouse vs eOption: Cons



Optionshouse


eOption

  • For stocks priced $2 or less that are not options eligible, add $0.005 per share for the entire order
  • Shortened after-hours trading: 4:00 pm - 5:00 pm EST, instead of 4:00 pm - 8:00 pm EST
  • Basic charts
  • NTF mutual funds are not offered
  • Very limited research
  • Few educational resources

  • Very expensive extended hours trading commissions
  • Limited trading tools and charts
  • Limited research
  • Slow and painful ACH setup process
  • $15 IRA setup and $25 annual IRA fees
  • $50 annual inactivity fee, if less than two trades in the past 12 months or less than $10,000 in credit or debit balances




eOption vs Optionshouse: Comparison Summary



eOption (eOption Review) offers somewhat lower commissions on stocks and ETFs than Optionshouse (Optionshouse Review): $3 and $4.75 per trade respectively. Optionshouse, however, is cheaper for mutual funds - $9.95 per transaction versus $14.95 at eOption.

Both online brokerages don't have surcharges on large orders. eOption charges a lot on extended hours trades - $25 for up to 5,000 shares, $0.003 per share for over 5,000 shares. Optionshouse has a surcharge of $0.005 per share on stocks under $2 that are not options eligible.

Optionshouse provides better customer service, trading tools and research. The firm offers free virtual trading environment where investors could try different trading strategies without risking real money.

Unlike eOption, Optionshouse doesn't have IRA setup and IRA maintenance fees, but despite of that it was not included into our Best IRA Companies list. The firm also did not make it into our Best Online Brokers in 2014 article.

eOption just doesn't feel like a solid company that will last. Even company's website looks very weak. Because of that, and because of better trading tools and customer service at Optionshouse as well as more free services, we strongly recommend Optionshouse over eOption to all investors.

Optionshouse Promotion - 150 FREE
trades:

Optionshouse Review


eOption Promotion - none
right now:

eOption review


This article was updated on 8/18/2014.



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