#9 OptionsXpress

OptionsXpress Reviews

Service Reviews
Services offered by this discount online stock trading agent is unparalleled. And that is why they have rightly received 4 stars as per reviews of Barron’s Annual Online Broker Review and received a 5 star from Kiplingers. It has earned the title of “Mecca for options buff”, owing to the classy and quality services offered to its clients.

So good were their services that they were placed at No. 3 and were awarded “Best in Class for Platforms and Tools, Options Trading, Investor Education, Investor Community, and Research.

Types of Investments
OptionsXpress offers a wide range of investment tools and some of these include FOREX, Futures, Exchange-Traded Funds or ETFs, stocks, International Exchanges, Mutual Funds, Options, and Equities. As far as FOREX trading is concerned, you can trade currency with as many as 18 pairs. In other words, this trading platform is meant essentially for Discounted trading, Long Term Trading, Options Trading, Active Trading, and International Trading.

Commissions and Fees
There is no minimum deposit amount for your investment. The commission amount ranges between USD$9.95 and USD$15 depending on orders and also includes ‘broker assisted orders’. This is in sharp contrast to other brokers that charge at least USD$1.50 for every option contract.

Highlights
OptionsXpress offers 24 hour customer support for assisting clients in future trades. This online broker also offers services on your mobile as such have a mobile trading platform. You can trade even if it is your Android phone or iPhone. This enables you to check balances and status of trade. Also you can place orders from your cell phone. If you are not living in US, you can still trade online with their help. Also as of 2011, OptionsXpress was offering bonus of $100 if the amount with which you opened an account was $500. From the time you open an account, it carries out 3 trades. Other features include Investment education, no maintenance fee, and no minimum amount of deposit.

Investing and Trading Tools
If you open an account with OptionsXpress, there are many trading tools that you can access. As far as research tools are concerned, they include market analysis, research reports, market commentary, breaking news, and quotes related to free live streaming.

You will also be able to use the state-of art trading tools such as;

  • Strategy scan
  • Watch Lists
  • Xtend
  • The Screener

Another very helpful trading tool that you can use is the Xpress Router Technology that is made use of by the traders at OptionsXpress. This tool is SEC’s NBBO or National Best Bid and Offer compliant.

Summary
If you rate OptionsXpress out of 5, it will get a 4.9. With competitive rates, services that are technologically advanced, user friendly feature, and the fact that it offers very helpful educational resources has made it one of the most sought after trading platforms on the World Wide Web.

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Rating: 7.6/10 (8 votes cast)
#9 OptionsXpress, 7.6 out of 10 based on 8 ratings

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