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Optionshouse Review 2010: lowest commissions, good service and no fees
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OptiOptionhouse's New Account online application was easy and intuitive to use.
The next day customer service
called to make sure everything was in order. They required two faxed paper forms when transferring existing IRA account; I would have preferred an option of emailing scanned forms.
Your new account is immediately
funded with $5,000 of virtual money and you can start trading right away. Paper trading is a great learning tool
for practicing and developing your strategies without risking your hard-earned money.
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Accounts offered at OptionsHouse: Individual, Corporate, Roth IRAs, SEP IRAs, Traditional IRAs, Joint, UTMA, UGMA,
Trusts, Partnerships, Investment Clubs, and Educational IRAs.
Optionshouse.com has many 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.
- Lowest stock commissions in the industry
- 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 account
- No volume requirements and inactivity fees
- Free check-writing privileges
- No surcharges for large orders, penny stocks and extended hours trading
- Might not be the best for beginner investors
OptionHouse offers great $2.95 flat rate commission for stocks, two great plans for options traders and
$9.95 flat-rate commission for mutual funds. The firm has no account balance minimums, no volume requirement and
no minimum number of trades requirement to get these low commissions.
We see no reason to overpay for buying/selling stocks. Optionshouse provides the
cheapest stock trading
costs without compromising on customer service, quality of trading tools and reliability. Barron's rated
OptionsHouse "#1 for Options Traders" in 2009 online stock broker survey.
Because of no IRA fees, Optionshouse is one of the
best IRA brokerages. The firm has no fees and surcharges on account inactivity, penny stocks, or large orders like so many other companies.
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