OptionsHouse IRA Review

Optionshouse IRA Review 2014: Pricing, Fees, Pros/Cons, and Promotions for Traditional, ROTH, SEP, Simple, Rollover IRA Accounts

Optionshouse Promotion Offer: click image to the left to get 100 FREE trades + up to $125

Optionshouse IRA Accounts

  • Traditional IRA
  • Educational IRA
  • Rollover IRA

Optionshouse IRA Commissions

Stocks and ETFs $4.75
Stocks and ETFs broker assisted $4.75
Plan 1. Up to five contracts for $5; each additional contract $1
Plan 2. $8.50 + 0.15/contract (great if trading over 10 contracts)
Plan 1. Up to 10 contracts for $10; each additional contract $1
Plan 2. $12.50 + 0.15/contract
Mutual funds $9.95
U.S. Treasury bonds and listed corporate bondsOrders 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
FeesOptionshouse fees

Optionshouse IRA Fees

  • IRA setup fee: $0
  • Annual (maintenance, custodial) IRA fee: $0
  • IRA termination fee: $20
  • Account inactivity fee: $0
  • Outbound Full Account Transfer: $50
  • Outbound Partial Account Transfer: $50

Optionshouse IRA Review

Despite of what the company's name might suggest, Optionshouse is not just for options traders. The vast majority of its customers actively invest in stocks, ETFs, and mutual funds. And they have good incentives since the firm offers very low pricing - flat-rate $4.75 per trade commission on stocks and ETFs, two attractive plans for options traders, and extremely low $9.95 per transaction rate on mutual funds (there is also a number of no-transaction fee or NTF mutual funds available). There are no catches: the company does not have account balance minimum, volume, or minimum trades requirements to get these low commissions.

Optionshouse does not charge fee for setting up IRA account. Unlike many other discount brokers, there is also no IRA annual (maintenance, custodial) fees. The company does not have inactivity charges - you could buy a few mutual funds or stocks and forget about them for years without worrying about charges. There is only one fee associated with IRA - it's $20 for closing a retirement account - almost all firms charge it. Another potential charge is Outbound Full or Partial Account Transfer of $50 which will only happen if you decide to move your account (IRA or non-IRA) to another company. Again, most brokerages have it.

Optionshouse is growing rapidly and the firm is well-known in investor community. Like with most other online brokers, all customer brokerage accounts are insured by the government (SIPC, http://www.sipc.org/) in case of brokerage firm failure, very similarly to the way bank accounts are insured by the FDIC. The insurance is limited to $500,000 per customer, including up to $250,000 for cash.

In 2013 Barron's magazine in its annual survey of online brokers rated Optionshouse 4 1/2 stars (the highest rating in the review) for Trade Experience and awarded an impressive fifth consecutive "Best for Options Traders" ranking. Because of low commissions and no IRA fees, Optionshouse is one of the best brokerages for an IRA.

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Optionshouse IRA Reviewed by Brokerage Review on . Reviewed by Editor and 50+ users. Rating: 4

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