4.5-star brokerage firm rating


4-star brokerage firm rating

Optionshouse Review

TradeKing vs OptionsHouse



OptionsHouse vs TradeKing 2014: Account Pricing, Commissions, Fees




TradeKing


OptionsHouse

  • Stocks and ETFs: $4.95
  • Options: $4.95 + $0.65 per contract
  • Short options valued at 5 cents or less, can be bought to close these positions for no charge (commission free)
  • Mutual funds: $9.95
  • Bonds: $4.95 per bond ($14.95 minimum)
  • Treasuries: $24.95
  • Certificates of Deposit (CDs): $24.95
  • Investments: stocks, options, mutual funds, bonds, CDs, forex, treasuries, ETFs
  • TradeKing minimum deposit to open account: $0 for cash account, $2,000 for margin account
  • All TradeKing fees

  • 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




TradeKing vs OptionsHouse: Pros



TradeKing


OptionsHouse

  • Great commissions
  • No minimums, or maintenance or hidden fees
  • Free real-time quotes
  • Top-rated customer service
  • Low margin rates
  • Best online investor community
  • Fee-free IRAs
  • Free DRIPs (dividend reinvestment plans)
  • Extensive educational resources

  • 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




TradeKing vs OptionsHouse: Cons



TradeKing


OptionsHouse

  • Additional $0.01 per share on the entire order for stocks priced at less than $2
  • $50 annual inactivity fee if BOTH apply to an account(s):
    • Combined account value of the household account(s) is less than $2,500
    • No commission-charged trades have been executed in the account(s) during the last 12 months
  • International investors are not accepted
  • Shorter after-hours trading: 4:00 pm - 5:00 pm EST, instead of 4:00 pm - 8:00 pm EST

  • 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




OptionsHouse vs TradeKing: Comparison Summary



Optionshouse (Optionshouse Review) is very similarly priced company to TradeKing (TradeKing Review): $4.75 and $4.95 for stock and ETF trades respectively. Mutual funds have exactly the same rate: $9.95 per transaction. While Optionshouse does not offer NTF (no-transaction fee or commission-free) mutual funds, TradeKing provides NTF load funds to its customers.

TradeKing charges $0.01 per share additionally on stocks priced under $2. Optionshouse adds $0.005 per share more on stocks priced under $2 that are not options eligible. Both firms do not have additional commission on large orders and extended hours trading.

OptionsHouse and TradeKing offer fantastic pricing on options trades. In fact, thanks to low pricing and great suit of options trading tools, these are some of the most popular companies among options traders, and we included them in our list of the Top Brokers for Options Trading.

TradeKing is one of the Best brokers for beginner investors: it offers lots of learning materials, and helpful online investor community for clients to learn from each other and share investing ideas. Customers could also call a broker and place a trade with his/her help without a surcharge at both firms. For the last three years Smart Money magazine rated TradeKing's customer service #1 in the industry.

TradeKing and OptionsHouse do not charge IRA setup and IRA maintenance (also called annual or custodial) fees. Thanks to that, and low mutual funds investing costs as well as free DRIPs (dividend reinvestment plans) on both stocks and mutual funds, TradeKing is a great option for Traditional IRA, ROTH IRA, and self-employed IRA accounts.

Both of these companies are excellent, but TradeKing is rated higher by both us and all financial magazines. The firm works especially well for customers new to investing, or looking for an IRA account, or wanting to take advantage of the online investor community.

You can also open accounts with both firms in about 20 minutes with no obligation (non-IRA accounts don't have account closing fee), and take advantage of their unique and valuable features free of charge.


TradeKing Promotion - refer a friend
and both receive $50:




OptionsHouse Promotion - 100 FREE
trades:

Optionshouse Review


This article was updated on 2/27/2014.


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Review discount online brokerage firms comparison: OptionsHouse or TradeKing? Differences between investment companies. Recommendation for stocks, options, ETFs, mutual funds, bonds investors. TradeKing versus OptionsHouse for beginner investors, long term, individual retirement accounts, active/day traders. See what stock broker service is better, cheaper, offers lower fees, cost, rated higher and easier to use. Which you should choose?


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