#3 OptionsHouse

OptionsHouse Reviews

Service Review
Don’t get misled by the name, OptionsHouse is more than just Options Trading. The online broker has earned title of “Best for options traders”, by Barron’s. Although trading is entirely browser based, nevertheless, you can also use it as a downloadable program. In order to open an account, you need to invest a minimum amount of USD$1,000. As far as parameters like value for money, customer support, process of joining, ease of navigation, and research educational programs are concerned, OptionsHouse surely gets 5 star rating.

Types of Investments
Although OptionsHouse is mainly known for Options trading and is a forerunner in the same, it also offers few other investment products that you can avail for trading. These are Spreads and Stocks.

Commission and Fees
According to Barron’s, the rates are affordable and reasonable. Also the trading platform is flexible in which you can stream data with customized platform. The “sliding scale commission format” makes the cost affordable. It offers as low as USD$3.95 per trade. Other commission and fees include USD$8.50 plus 0.15 per contract, USD$5 for up to 5 contracts and every additional contract will attract USD$1. The above rates are applicable for Options. As far as Spreads are concerned, it is USD$10 for up to 10 contracts and for every additional contract, it is USD$1. For mutual funds, it is USD$9.95. Also in case of Spreads, it is USD$12.50 plus 0.15 per contract. There are 2 separate plans that you can opt for Options and Spreads.

The main highlights include OptionsHouse being a browser based trading platform. There are 7200 mutual funds to choose from. You get educated on investments. Maintenance fee will not be required. The provision of Smart Order Routing is available. Option of Pink Sheet Trading offered. Also available are US Treasury, Corporate as well as Certificates of Deposit Bonds for trading. The margin rate usually ranges between 3% and 4%. It is basically a Virtual Trading Platform where you don’t have to pay for broker assisted trades. OptionsHouse is a member of Securities Investor Protection Corporation as well as Financial Industry Regulatory Authority.

Investing and Trading Tools
OptionsHouse virtual stock exchange offers complete trading platform. There are several trading resources and tools that you can access. Trading can also be carried out using your Android, Blackberry, and iPhone. The essential trading tools offered by OptionsHouse include streaming news and charts, options list, probability calculator, and volatility charts. In other words, the trading tools are easy to use and aimed at assisting traders to carry their trade successfully to completion.

Since it is the cheapest commission based trading platform, and owing to the fact that it allows traders to access many powerful trading tools, it has earned 4.5 for Trade Experience. As far as rating the company in online trading is concerned, it has been rated as No. 1 among 2012’s Best Brokerage Firms.

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Rating: 7.8/10 (28 votes cast)
#3 OptionsHouse, 7.8 out of 10 based on 28 ratings

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