optionsXpress - Options Trading, Stock Trading, Futures Trading - All Within Single Account
With optionsXpress you can trade stocks, options, and futures in one account. Take advantage of free education, powerful tools and excellent service.
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optionsXpress Brokerage Review
| Equity Trades: | $9.95 |
| Mutual Funds: | $14.95 |
| Options Base Fee: | $0.00 |
| Options Per Contract: | $1.50 |
| Broker Assisted Trades: | $9.95 |
| Minimum Deposit: | $0.00 |
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When it comes to online stock trading, no other broker does it better than OptionsXpress online broker! It is believed to be a world class broker and is the most recommended name amongst the online brokerage firms. Even if you are a novice in online stock trading, you can still make the best out of 'Xpress' just like other seasoned investors. The service of 'Xpress' is very user-friendly, convenient, easy and educational. Advanced tools are also provided for the purpose of application in formulating investment strategies that would be lucrative. Even the fee schedule of this broker is very easy to understand.
What makes 'Xpress' a cut above the rest is its outstanding quality of tools and user-friendly service. It outmatches all the other competitors in the stock market and it can give you a special insight on various bonds, mutual funds, stocks and options. With the help of 'Xpress', you will never have to worry about a thing even if you are clueless about how to deal with stocks. Once you use it, you will experience the difference as well as the flexibility since OptionsXpress allows you to trade in stocks anytime anywhere.
You can create a new account in OptionsXpress with the blink of an eye. And usually with fast speed comes the doubt whether it is secure or not, but not with OptionsXpress, because there is cent percent security. You can trust in them. After you have registered, your deposit would be verified and you would get a phone call from them for verification of account information.
Fees & Commissions
There are no such restrictions like the need for a minimum amount in order to open an account and invest in the stocks with OptionsXpress and it charges a commission of $15 or 9.95$ on all the orders. The orders that are assisted by brokers are also included and the charge is $1.50 per options contract with 'Xpress'. For active traders, there is a reduction in the fees.
Investments Offered
Becoming an investor with 'Xpress' is definitely profitable because of the vast array of options of investments that one can choose from because with fewer options there are less chances of earning lucratively. The investments offered by this broker include mutual funds, bonds, exchange-traded funds, stocks and bonds. However some not-so-popular investments are excluded. You can also invest in IRAs like custodial accounts and Coverdell ESAs for the purpose of education savings plan.
Trading Technology
OptionsXpress is truly a beginner's dream because it provides the best possible help for the purpose of setting foot in the stock market and learning to invest and make profits. The website is extremely easy to navigate because it has been divided into sections for the convenience of the users. There is absolutely no problem locating the different educational materials or tools in the website or even accessing account information. Webinars are also offered for guiding the novices through the process.
'Xpress' provides you with all the resources and tools which might be required for managing your investments and finances. It helps to make the complicated process of investments easier. Some of the tools and materials that are offered are analyst research reports, charts, streaming news, calculators and the like. The investors using 'Xpress' are also allowed to access level I and level II quotes instantly.
Not only this, you can also organize all your tools and materials into a desktop that can be customized by you according to your needs or trading style. There is also an option for receiving alerts about the stocks that you are trading in. The best part is that you are not required to stay glued to the computer the whole day in order to keep an eye on your investments because 'Xpress' would do it for you through their automated trading function. It also offers convenient virtual trading and mobile trading platform which you can access through Android cell phones, iPhone or Windows Mobile phones.
Customer Service
The customer service in OptionsXpress is very good. Customer satisfaction is their top most priority and they also offer online help or you can drop by in one of their two offices located nationwide. Beginners can get the help of tutorials or tours that would walk them through the entire process in the best possible manner, aiding in providing them better guidance and understanding about what they would be trading with. Features like live chat, chat over the phone or email is also available.
This is indeed one of the best online brokerages that offer professional and trustworthy services to their investors. There is no charge required for opening an account. Anyone and everyone interested in dealing and investing in stocks can use OptionsXpress for maximum benefits. It is the best out there, hands down.
Advantages/Customers like
- All-In-One Trade Ticket - trade anything form a single screen.
- Great education resources.
- Variety of tools for option traders.
- Strong mobile trading platform.
Disadvantages/Customers don't like
- Higher than average fees and commissions for stocks and options.
- Relatively poor research.
Written by: Goran Dolenc
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