OptionsHouse Brokerage - Online Stock Options Trading, Virtual Stock Options, Flat Rates
OptionsHouse Brokerage is an online broker focusing on stock options trading featuring a professional grade platform and low fees and commissions.
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OptionsHouse Brokerage Review
What is the first thing that comes to your mind when you see the name "OptionsHouse" in the online stock trading services section? You will probably think that it is a brokerage which offers their customers only investments in options but that is not the whole picture. Options House deals with a lot more other investments as well such as mutual funds, bonds, ETFs and stocks.
This is one of the few brokers that would provide you with a variety of trading options and that too at a very competitive rate. It has made a lot of improvement in the past and has set certain benchmarks for other brokers to step up to. In the past one year, Options House has also received plenty of positive attention and feedback and has been recommended by a lot of investors. The trading fees of OptionsHouse are indeed very low and when combined with very useful trading tools and a very supportive customer care, it is one of the best brokers out there.
Thinking of opening an account with Options House? Not a problem, everything is made very easy and very convenient; opening an account with OptionsHouse is indeed a piece of cake. With the online application feature, opening an account is made speedy and time-saving. Usually the customer service would call up and confirm a day after the registration has been done. A new account holder would be credited with a virtual $5000 so that they can jump right in with the investments and trading like the other experienced investors. There are various types of options available for the new account applicants such as individual accounts, joint accounts, and corporate accounts and so on.
Fees & Commissions
It costs $3.95 per piece of limited trades or market trades and if you want to deal with options you can do so by paying $5 for five contracts. However depending on the commission tier chosen by the customer, the rates can differ. Also, one is required to maintain a minimum balance of $1000 at all time in his OptionsHouse account.
As discussed above in the introduction section, Options House offers an array of investments and not just options. This includes retirement accounts, mutual funds, stocks and exchange-traded funds. In addition to these, OptionsHouse also offers educational savings plan.
When you are new in dealing with stocks and shares, having a broker-assisted trading might be helpful but OptionsHouse simply busts this myth. It is not at all true, most of the times even self-trading like trading with the help of Options House can be very easy and smooth. For many, it was a painless experience the first time they used OptionsHouse. The reason why it is so smooth and easy is because OptionsHouse offers a whole bunch of trading tools and assistance that trading in online stocks becomes so easy that even a novice can deal like a pro.
With Options House, you can have access to features like calculators, charts, watch lists, criteria based search tool, screeners, virtual trading, level I quote, etc. Customers can also sync all the dealings with their cell phones like BlackBerry, Nokia, iPhone, Android, Windows Mobile, Palm or any other compatible brand.
One also can use the 90 day free coaching plan or get help through one-on-one phone support. Live sessions like group webinar or conversations with coaches are only available. However, if you are interested in continuing with the services after the free 90 day trial period, you will have to shell out $149 per month but it is worth it in the long run in terms of success.
It is not without reason that Options House is so popular. Its customer service is great and beyond expectations. Whether you choose to get help over the phone, by email or live chat, you are sure to get your queries answered. The customer service team of OptionsHouse are dedicated and determined to help people with their stock trading problems and make it a less complicated for them. When it comes to customer service, none can beat OptionsHouse.
In today's market there are a lot of brokers that earn lucratively by charging inactivity fees from their investors or fees for dealing with large orders, but OptionsHouse does not do that, and that is what makes it stand out from among its competitors. It is considered as one of the best IRA brokerages because it does not charge IRA fees.
How Others Rate OptionsHouse?
Here is how the most trustworthy external sources rate this broker. Best rating is marked with 5 orange stars, worst rating is marked with 5 grey stars, and if any feature is not rated you will see white stars with grey border.
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Written by: Goran Dolenc