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Optionshouse Review
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Optionshouse Review 2012: Commissions, Fees, Investment Products and Account Minimum
- Stocks and ETFs: $3.95
- Stocks and ETFs Broker assisted: $3.95
- 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
- Minimum to open Optionshouse account: $1,000 for cash account, $2,000 for margin account
- All Optionshouse fees
Optionshouse's new account online application is easy and fast. Customer service called next day
to make sure everything was in order. We had to fax two paper forms to transfer existing IRA account -
we would have preferred an option of emailing scanned forms instead.
New account is immediately funded with $5,000 of virtual money and customers could start practice trading right away.
This virtual trading feature is a great learning and testing tool for trying and developing trading strategies without risking hard-earned money.
Accounts offered at OptionsHouse: Individual, Corporate, Roth IRAs, SEP IRAs, Traditional IRAs, Joint, UTMA, UGMA,
Trusts, Partnerships, Investment Clubs, and Educational IRAs.
OptionsHouse Website (OptionsHouse.com)/Trading Tools Review
Optionshouse offers lots of trading tools: risk viewer, streaming charts and news, volatility charts, a
probability calculator, Put and Call spread investigators and much more. All tools are customizable, fast and
easy to use. The OptionsHouse iPhone App allows customers to access and manage their account in real time, regardless of where they are.
The company also revamped its browser based platform which now provides almost as much versatility and customization as a
stand-alone application.
Optionshouse Review: Pros
- Lowest commissions
- Free streaming quotes
- Efficient trading tools
- No account minimums. Minimum initial funding size is $1,000 for a cash account and $2,000 for a margin account
- No fee IRA accounts
- No volume requirements, maintenance and inactivity fees
- Free check-writing privileges
- Free DRIPs (complete shares only)
- No surcharges for large orders and extended hours trading
- Very low margin rates
- Free virtual trading
Optionshouse Review: Cons
- For stocks priced $2 or less that are not options eligible, add $0.005 per share for the entire order
- Shortened extended hours trading: 8:00 am - 9:30 am and 4:00 pm - 5:00 pm EST
- International investors are not accepted
Optionshouse Review: Summary
Don't let the name full you - Optionshouse is not just for options traders. The firm also provides excellent trading
services and prices for stocks, ETFs, mutual funds and bond investors. Optionshouse offers very low, flat-rate $3.95 per trade
commission on stocks and ETFs, two attractive plans for options traders and great, $9.95 per transaction rate on mutual funds.
The firm does not have account balance minimum, volume or minimum number of trades requirements to get these low commissions.
Because of no IRA fees, Optionshouse is one of the
Best Brokerages for IRA account. Unlike many other online brokerage companies, it does not have additional fees on
extended hours trading and large-size orders. There is, however, $0.005 per share surcharge for stocks priced $2 or less that are
not options eligible. Optionshouse also has shorter than normal after hours trading
hours: 4:00 pm - 5:00 pm EST instead of 4:00 pm - 8:00 pm EST.
We don't see any reasons to overpay a brokerage firm to buy/sell stocks. Optionshouse provides some of the cheapest commissions on all
investment products without compromising on customer service, quality of trading tools and reliability. The firm was rated
4 1/2 stars (highest rating) for Trade Experience and awarded an impressive third consecutive "Best for Options Traders"
ranking in Barron's 2012 annual ranking of top online brokers. We rated Optionshouse #1 among the
Best Brokerage Firms in 2012.
Open an IRA at OptionsHouse Today and
Get 100 Commission-Free Trades and up to $125 in Transfer Fees.
Optionshouse
Reviewed by Brokerage Review on
.
Reviewed by Editor and 20+ users.
Rating: 5
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