Cheapest Online Stock Brokerage Account in 2016
Optionshouse Promotion 2016: click the picture to the left to get 150 Free trades
Cheapest Online Broker Fees
|Stocks and ETFs|| $4.95|
|Stocks and ETFs broker assisted|| $29.95|
|Options||$4.95 + $0.50 per contract|
|Mutual funds|| $20|
|Futures|| $1.50 per contract|
Getting Started: Applying
Based in the State of Utah, Options House is the new up and coming brokerage firm. Although less than a decade old, Options House is
already a recognizable name in the industry.
Setting up an account with Options House is easy enough. The process is similar to that of other financial institutions that primarily do their business online:
you fill out online forms in about 8 minutes and account usually gets approved instantly. If there are any problems contact Options House either through email or by using the live
Pricing and Fees
Most applications should be accepted and the suite of features provided by Options House will be available
for access. The first thing that immediately draws attention is the low pricing and fees for stock and ETF purchases. The fee is a flat rate
of $4.95 per transaction. Mutual funds are priced at $20 per transaction. There is also an attractive plan for options traders: $4.95 plus 50 sents per contract.
Another notable aspect of Options House is no minimum deposit to open a individual brokerage account.
In addition to individual brokerage account, there are various other options for users to choose from: joint or corporate
investment account, Traditional, Educational, Roth IRA, or even a Trust.
Options House offers a number of bells and whistles that will be attractive to a potential client. For the long-term investor, Options House
has an automatic DRIP feature that will reinvest dividends at no extra charge. This is a convenient investment strategy that will save both
time and money.
Another noticeable feature is the live quotes feed in the dashboard of the account page. Unlike
some other brokerages, Options House provides live streaming quotes for free.
One more perk that is noteworthy is the ability to receive
free trades at Options House, up to 150 at a time! There are two ways to receive free
stock and ETF trades through the firm. New users may sign up using the promotion link below, while existing users may use their personal referral link
to sign others up.
- Very 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)
- No surcharges on large orders or extended hours trading
- Low margin rates
- Free virtual trading
- For stocks priced $2 or less that are not options eligible, there is a $0.005 per share surcharge for the entire order (including OTCBB, Pink Sheets)
- Short after-hours trading: 4:00 pm - 5:00 pm EST, instead of 4:00 pm - 8:00 pm EST
Cheapest Brokerage Firm Overview
Options House made a name for itself in the financial industry for a reason - the low prices and fees are attractive to any potential client.
Recent merger with two other brokerages - MB Trading and TradeMonster - more than doubled the size of the firm making it a serious competitor to
largest brokerage houses. Continue to OptionsHouse review.
Updated on 6/22/2016.