OptionsHouse IRA Review

Best brokerage firms for free Traditional/ROTH/Rollover IRA account in 2012



5-star brokerage firm rating

optionsXpress review
optionsXpress Commissions

  • Stocks and ETFs: $8.95
  • Options (active traders): $12.95 for up to 10 contracts, $1.25/contract for over 10 contracts
  • Options (non-active traders): $14.95 for up to 10 contracts, $1.50/contract for over 10 contracts
  • Mutual Funds: $9.95
  • Bonds: $5 per bond, $9.95 minimum
  • Futures: 1-40 contracts $6.99; 41-100 contracts $5.99; 101-300 contracts $4.99; 301-1,000 contracts $3.99; 1,001 + contracts $2.99
  • Options on Futures: 1-40 contracts $12.99; 41-100 contracts $8.99; 101-300 contracts $7.99; 301-1,000 contracts $6.99; 1,001 + contracts $5.99
  • Covered Calls: $22.90 up to 10 contracts
  • Penny Options: 1-10 contracts $4.95 flat; 10 + $0.50/contract
  • Spreads, Straddles & Combos: 2-10 contracts - $12.95 Flat (active traders) $14.95 Flat (non-active traders); 10 + contracts - $1.25/contract (active traders); $1.50/contract (non-active traders)
  • Investments: stocks, options, mutual funds, bonds, futures, options on futures, covered calls, ETFs
  • Minimum to open OptionXpress account: $0 for cash account, $2,000 for margin account
  • All OptionXpress fees


optionsXpress IRA Account Review


IRAs Offered: Traditional IRA, Roth IRA, Rollover IRA, SEP IRA, SIMPLE IRA, Custodial, Coverdell (educational IRA), Minor Roth, Minor Traditional
IRA Setup Fee: $0
IRA Annual Fee: $0
IRA Termination Fee: $50

optionsXpress IRA account is one of the best choices if one is looking to invest in mutual funds. The firm earned 4.5 (out of 5) stars rating in 2009-2012 investor surveys on its Trade Experience, Usability, Ranges of Offerings, Research and Educational Resource and Customer Service.

optionsXpress offers free IRA accounts with no IRA setup or annual IRA fees. Read full optionsXpress IRA review.


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optionsXpress



5-star brokerage firm rating

Scottrade Review
Scottrade Commissions

  • Stocks and ETFs: $7
  • Stocks and ETFs broker assisted: $27
  • Stocks and ETFs interactive voice response (IVR) telephone system: $17
  • Options: $7 plus $1.25 per contract
  • Mutual Funds: 2,800+ free mutual funds, $17 for others
  • CDs, OTC Secondary Corporates, OTC Secondary Municipals, U.S. Treasury Bills, Notes, Bonds and STRIPS, New Corporate Offerings: subject to a markup or markdown
  • Listed Corporate Bonds: $35 fee plus $3 per bond (minimum investment $1,000)
  • Unit Investment Trusts (UIT): $50 liquidation fee
  • Foreign Stocks Transferring In or Out: $60 per transaction
  • Investment products: stocks, options, mutual funds, CDs, munis, U.S. Treasury, Canadian and foreign stocks, ETFs
  • Minimum to open Scottrade account: $500 for a cash account, $2,000 for a margin account
  • All Scottrade fees


Scottrade IRA Account Review


IRAs Offered: Traditional IRA, Roth IRA, Rollover IRA, Simple IRA, SEP IRA, 401K Plans, Defined Benefit, Money Purchase, Keogh DVP
IRA Setup Fee: $0
IRA Annual Fee: $0
IRA Termination Fee: $0

Scottrade's IRA account is excellent for beginner, mutual funds and long-term "buy and hold" investors. There are over 2,800 free mutual funds available at Scottrade. Since the company is a well-established, seasoned brokerage with a very good reputation, it is a natural choice for people nervous about opening their retirement investment account at the newer firms.

Scottrade IRAs are free: there is no IRA setup and annual IRA fees. The company does not even charge IRA termination fee and fees for transferring account to another broker. The firm is consistently rated at the top in customer service and satisfaction. Read full Scottrade IRA review.


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Scottrade



5-star brokerage firm rating

OptionsHouse Commissions

  • 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 IRA Account Review


IRAs Offered: Traditional IRA, Roth IRA, Rollover IRA, SEP IRA, Educational IRAs
IRA Setup Fee: $0
IRA Annual Fee: $0
IRA Termination Fee: $20

OptionsHouse offers $3.95 flat-rate stock commission and $9.95 flat-rate commission for mutual funds. In Barron's magazine online stock broker ratings OptionsHouse got 4.5 stars (out of 5) and was named #1 in "Trade Experience".

OptionsHouse has no IRA accounts balance minimums, IRA setup or annual fees. With only $10 commission on a mutual fund purchase/sale, it's one of the cheapest brokerages if you plan to invest in mutual funds. Read full OptionsHouse IRA review.


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Open an IRA at OptionsHouse Today and Get 100 Commission-Free Trades and up to $125 in Transfer Fees. Optionshouse Reviews




optionsXpress Review

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