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OptionsXpress review

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Thinkorswim review

Thinkorswim vs OptionsXpress

OptionsXpress vs Thinkorswim 2015: Account Pricing, Commissions, Fees


TD Ameritrade Thinkorswim

  • Stocks and ETFs: $8.95
  • Options: $14.95 for up to 10 contracts, $1.50 per contract for over 10 contracts
  • Options Active Traders: $12.95 for up to 10 contracts, $1.25 per contract for over 10 contracts
  • Mutual funds: $9.95
  • Bonds: $5 per bond, $9.95 minimum
  • Futures: $3.50 per contract
  • Options on Futures: $3.50 per contract
  • Forex: No commissions. optionsXpress receives compensation through the bid/ask spread.
  • Spreads, Straddles & Combos: 2-10 contracts - $12.95 flat (active traders) $14.95 flat (non-active traders); 10 + contracts - $1.25 per contract (active traders); $1.50 per contract (non-active traders)
  • Investments: stocks, options, mutual funds, bonds, futures, options on futures, covered calls, forex, ETFs
  • OptionXpress minimum deposit to open account: $0 for cash account, $2,000 for margin account
  • All OptionsXpress fees

  • Stocks and ETFs: $9.99
  • Stocks and ETFs broker assisted: $49.99
  • Stocks and ETFs Interactive Voice Response (IVR) Telephone System: $34.99
  • Options: $9.99 + $0.75 per contract
  • No-load mutual funds: $49.99
  • Treasuries at auction: $25 flat fee
  • All other bonds and CMOs, CDs: on a net yield basis
  • Futures: $3.50 per contract (inclusive of exchange fees)
  • Investment products: stocks, bonds, mutual funds, options, ETFs, bonds, CDs, UITs, futures and forex
  • Thinkorswim\TOS minimum deposit to open account: $0 for cash account, $2,000 for margin account
  • All Thinkorswim fees

OptionsXpress vs Thinkorswim: Pros


TD Ameritrade Thinkorswim

  • Very cheap mutual fund commissions at $9.95 per transaction
  • Best customer service
  • Many well-designed trading tools and cutting-edge trading technology
  • Free streaming quotes
  • 50 free trades bonus for opening new account
  • No fee IRA accounts
  • Great research
  • Free virtual trading
  • Helpful investor community
  • No money down to open new account
  • Free account transfers
  • Free instructor-led online classes
  • Free broker-assisted trading
  • Free DRIP: dividend reinvestment plan (contact customer service to set up)
  • Access to financial advice and additional brokerage services through Charles Schwab

  • ThinkOrSwim is now part of TD Ameritrade, one of the largest brokerages in the U.S. with many local branches
  • No additional commission on stocks under $2, large orders, or extended hours trading
  • Best trading platform in the industry
  • Free virtual trading
  • Easy access to myTRADE trader community
  • No-fee retirement accounts
  • No maintenance or inactivity fees
  • Free streaming quotes, including Level II
  • Rich selection of independent research offered through S&P, Morningstar and other firms
  • Large number of mutual funds - over 13,000 available

OptionsXpress vs Thinkorswim: Cons


TD Ameritrade Thinkorswim

  • Higher than average commissions on stocks and ETFs

  • High commissions on all investment products
  • High margin rates

Thinkorswim vs OptionsXpress: Comparison Summary

OptionsXpress by Charles Schwab (OptionsXpress Review) offers slightly lower commissions on stocks and ETFs than Thinkorswim/TOS (Thinkorswim Review): $8.95 and $9.95 per trade respectively. Both investment companies don't have maintenance and inactivity fees. Unlike many other online brokerages, they also don't charge additional commission on penny stocks (stocks priced under $1), large-size orders, and extended hours trading.

Thinkorswim and OptionsXpress provide excellent customer service, investment research and powerful trading tools. They offer free virtual trading where investors could test different trading strategies, and improve their skills without risking real money. At OptionsXpress beginner investors can also improve their knowledge about investing by taking advantage of free online instructor lead classes.

Thinkorswim is now part of TD Ameritrade: accounts at both firms are identical and customers enjoy all the benefits of both online brokers.

In summary, Thinkorswim and OptionsXpress are great! OptionsXpress will work better for options traders. Thinkorswim is a better choice for beginners, IRA account, forex and futures traders, and buy-and-hold investors.

Anyone can open a brokerage account at OptionsXpress with $0 and give it a try with no obligation. Investors can try Thinkorswim with no obligation too, and they will enjoy 60-days of commission free trading plus up to $600 bonus (if using promotion link below).

OptionsXpress Promotion - none
right now:

OptionsXpress review

Thinkorswim Promotion - trade free
for 60 days + up to $600:

TDAmeritrade review

This article was updated on 2/11/2015.

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