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OptionsHouse IRA Review 2017: Fees, Pricing, Minimums, and Promotions for Traditional IRA, ROTH, SEP, Simple, Rollover IRA Accounts

OptionsHouse IRA Accounts

  • Traditional IRA
  • Educational IRA
  • Rollover IRA

OptionsHouse IRA Fees

  • IRA setup fee: $0
  • Annual (maintenance, custodial) IRA fee: $0
  • IRA termination fee: $60
  • Account inactivity fee: $0
  • Outbound Full Account Transfer: $75
  • Outbound Partial Account Transfer: $25

Recent Merger With TradeMonster

In 2014, OptionsHouse and TradeMonster merged, combining into one trading titan. OptionsHouse has phased out its old trading tools and adopted the TradeMonster's platform. Customers now get award winning TradeMonster tools, but still pay OptionsHouse’s low commissions. The best of both worlds makes the new OptionsHouse one of the best online brokerages in the industry.

OptionsHouse Minimum IRA Deposit and Balance

The minimum initial OptionsHouse deposit is $0 for both non-retirement and retirement accounts, including ROTH IRA. There are no OptionsHouse IRA minimum account balance requirements of any kind.

Pricing and Fees

OptionHouse’s charge for trading stocks and ETF’s is $4.95, placing the broker squarely in the low-cost category. Options are an extra $0.50 per contract. Placing a trade with a living, breathing broker tacks on an extra $25.

Mutual fund transactions at OptionsHouse carry a $20 charge. Margin debits of less than $25,000 cost 6.5%.


Research tools at OptionsHouse are on the meager side. Data from TradeMonster is given for stock research, and Lipper provides data for mutual funds. Compared to other brokers, such as Fidelity and Schwab, that provide information from multiple sources, the amount of research information at OptionsHouse is on the low side.

Customer Service

OptionsHouse can be contacted via an on-line chat system, phone, fax, or e-mail. The chat and phone service are available 7:00 AM to 7:00 PM (CST), Monday through Friday.

Trading Tools

Since the merger with TradeMonster, OptionsHouse has adopted the former’s professional level trading platform. It offers charting, options research, order entry, account and position data, market news, plus a tool for strategy testing. The platform is launched from the OptionsHouse web site and generates a new window from the web browser.

Within the platform, there is extensive search capability for option chains and strategies. Traders can navigate through straddles, butterflies, strangles, and other option tactics. Clicking on an option produces an appropriate trading ticket, making the process simple and user friendly.

The platform is customizable and easy to learn. Clicking on the bond button takes the user back to the original web browser. Some issues have to be handled in the original browser, while others are viewed in the platform window, a characteristic which some users might find distracting.


Right now, customers who open and fund an OptionsHouse IRA with at least $5,000 within first 30 days will receive 60 days of commission-free trading. Promotion link: Open and fund an OptionsHouse account to get up to $1,000 in free commissions for 60 days.

The brokerage firm also has a refer-a-friend program offering current clients $150 cash or 30 free trades when someone they refer to the broker funds an account.

OptionsHouse IRAs

OptionsHouse does not charge an IRA account setup fee. Unlike many competitors, it does not have an annual (maintenance, custodial) IRA fees. There is only one fee pertaining to IRAs - $60 for closing a retirement account. Another potential expense is the Outbound Full (Partial) Account Transfer fee of $75 ($25 for partial transfer) which will only happen if client decides to move account (IRA or non-IRA) to another firm.

Is OptionsHouse Safe?

Like with all other online brokers listed on our website, all customer brokerage accounts at OptionsHouse are insured by 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.

Related articles:     Optionshouse vs Schwab      Optionshouse vs Vanguard      Buy stocks with Optionshouse


In 2017 stock broker survey, OptionsHouse got top scores in Mobile and Portfolio Analysis & Reports categories as well as got rated near the top in Usability, Research Amenities, Trading Technology, and in Customer Service & Education categories.

Because of low commissions and no IRA fees, OptionsHouse is a great brokerage firm for both ROTH IRA and traditional IRA accounts.

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OptionsHouse IRA Reviewed by Brokerage-Review.com on . Rating: 4

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