Optionshouse.com Website Review & Ratings + Optionshouse Coupons
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Optionshouse.com Website Review & Ratings + Optionshouse Coupons

OptionsHouse is – you’ve guessed it – a brokerage house for options, but with rates that will astound traders everywhere. Stock trades start at an incredible $3.95 and what’s more is that new customers are being offered 100 free commission trades when they set up an account with a minimum of $3000.

They use a cutting-edge trading platform with customizable layouts and flexible views, so you can keep multiple chains running, stream data and quotes and use proprietary algorithms to help your strategies take flight. The interface used is professional with an account summary, order statuses, positions and the ability to look up quotes. You’ll also have access to more detailed securities information, should you require it.

Standard accounts are cash accounts and these can be individual or joint. You can buy stocks, mutual funds, corporate bonds, U.S. Treasuries and, of course, options using this account. Corporate, Trust, Investment Clubs and Partnership accounts are all permissible.

Advantages of using OptionsHouse include low trading fees, a free cash sweep (so traders can earn interest on their available cash), a virtual trading platform that can cope with options spreads, butterflies and collars and a low minimum opening deposit of $1000. Beginners can start with $5000 of virtual money to see if they have a flare for trading. There is also live interactive investment coaching to help you on your way.

Customer service at OptionsHouse is easy. They have a telephone number, email address and contact form available on their website. You’ll usually receive a response within a couple of hours.

For four years running, OptionsHouse was ranked as one of the “Best for Options Traders” in Barron’s review of online brokers. Their mobile platforms were also some of the highest rated among all brokers, earning the number one ranking in the Mobile category. If you’re looking to trade options, the commission structure offered is virtually unbeatable. In fact, when compared to most companies it is less than half the cost of most competitors!

Why Use OptionsHouse?

Optionshouse: What makes it different?

OptionsHouse is founded by PEAK6 Investments, which just happens to be one of the largest options-trading firms in the U.S. and is based in Chicago. It is a member of SIPC which protects against brokerage insolvency, but obviously offers no protection from market loss. SIPC offers protection up to the value of $500,000 of which half can be cash.

Optionshouse vs. primary competitors (sites similar to Optionshouse)

Let's take a look at OptionsHouse's leading rivals:

Scottrade.com 

Pros:

  • Lower minimum to open a Scottrade acount of only $500
  • An online user community for support
  • More than 500 local branches

Cons:

  • More expensive than OptionsHouse
  • No electronic withdrawals allowed
  • There is an additional 0.5% of the principal value commission for stocks priced under $1

OptionsHouse is certainly the cheaper option for trades by a considerable margin. However, Scottrade offers excellent customer service backed up by plenty of local branches for their clients use. While Scottrade may be attractive to beginners due to the low minimum required, active investors will find that OptionsHouse offers more in terms of monetary reward.

TradeKing.com

Pros:

Has one of the best investor communities

There are NO minimums - good for beginners

Exceptional customer service

Cons:

  • An annual $50 inactivity fee if your household account is less than $2,500 and if no commission-charged trades have been executed in the account in the past year
  • Additional $0.01 per share on all stocks priced less than $2
  • More expensive than OptionsHouse for trading in general

TradeKing is a great place for beginners due to a fantastic investor community and NO minimums, but you can't dispute the fact that a serious investor is going to make more money with OptionsHouse simply because it is a better priced brokerage.

Thinkorswim.com:

Pros:

  • No additional commissions on stocks less than $2
  • Offers free independent research via Morningstar and S&P
  • Many local branches

Cons:

  • High Margin Rates
  • High Commissions
  • Much more expensive than OptionsHouse

It is without doubt that OptionsHouse is one of the cheapest brokerages in the U.S. If choosing Thinkorswim you will be paying more than double the price for stock/EFT trades. If you are a serious trader - money rules and you'll want most of it in your pocket. It doesn't take much to see why OptionsHouse has been rated the top online broker by several companies for 2012. 

Optionshouse: Pricing & packages

Here is a brief overview of pricing for the companies mentioned above: 

Pricing:

OptionsHouse

Scottrade

  • Stocks and ETF’s: $7.00
  • Broker Assisted Stocks and ETF’s: $27.00
  • Option Trades: $7.00
  • Market and Limit Trades: $7.00
  • Margin Rates (Base Rate plus %): -0.25 – (-0.75)%
  • Minimum: $500 for cash account

TradeKing

  • Stocks and ETF’s: $4.95
  • Option Trades: $4.95
  • Broker Assisted Stocks and ETF’s: $4.95
  • Market and Limit Trades: $4.95
  • Margin Rates (Base Rate plus %): 4.5 – 6.5%
  • No minimum

Thinkorswim

  • Stocks and ETF’s: $9.99
  • Broker Assisted Stocks and ETF’s: $49.99
  • Option Trades: $9.99 + $0.75/contract
  • Market and Limit Trades: $9.95
  • Margin Rates (Base Rate plus %): 1.95%
  • No minimum for cash account but $2000 for margin account
Optionshouse: Product images & screenshots
Optionshouse Coupons
Get Get a FREE Kindle Fire HD when you open and fund an OptionsHouse account @ Optionshouse
Get Get a FREE Xbox 360 when you open and fund a new OptionsHouse account @ Optionshouse
Get Open an IRA Today and Get 100 Commission-Free Trades and up to $125 in Transfer Fees. @ Optionshouse
Get 100 Free Trades @ Optionshouse
Optionshouse: Customer reviews & comments

Here's what OptionsHouse's customers and followers have been saying about them:

www.comparebroker.com said:

Top pick in category! OptionsHouse: Spend Less and Get More at OptionsHouse! $2.95 Flat-Rate Stock Trades. No upcharge for Broker-Assisted Trading. Ranked 1 in Trade Experience By Barron's 2009. 4.45% Margin Interest Rate!

100 free trades means you can trade for 2-3 months for FREE. OptionsHouse also has virtual trading where you can try out trading before you put real money in.

Brokerage-review.com said:

Don't let the name full you - Optionshouse is not just for options traders. The firm also provides excellent trading services and prices for stocks, ETFs, mutual funds and bond investors. Optionshouse offers very low, flat-rate $3.95 per trade commission on stocks and ETFs, two attractive plans for options traders and great, $9.95 per transaction rate on mutual funds. The firm does not have account balance minimum, volume or minimum number of trades requirements to get these low commissions. 

Because of no IRA fees, Optionshouse is one of the Best Brokerages for IRA account. Unlike many other online brokerage companies, it does not have additional fees on extended hours trading and large-size orders. There is, however, $0.005 per share surcharge for stocks priced $2 or less that are not options eligible. Optionshouse also has shorter than normal after hours trading hours: 4:00 pm - 5:00 pm EST instead of 4:00 pm - 8:00 pm EST. 

We don't see any reasons to overpay a brokerage firm to buy/sell stocks. Optionshouse provides some of the cheapest commissions on all investment products without compromising on customer service, quality of trading tools and reliability. The firm was rated 4 1/2 stars (highest rating) for Trade Experience and awarded an impressive third consecutive "Best for Options Traders" ranking in Barron's 2012 annual ranking of top online brokers. We rated Optionshouse #1 among the Best Brokerage Firms in 2012. 

www.online-stock-trading-usa.no1reviews.com says:

5/5 STARS! OptionsHouse is, in our opinion, one of the best value online stock trading platforms out there. In terms of the tools and research it offers few can match it and the rates for making trades are very reasonable when you take this into consideration. It offers most popular investment types so you can mix and match to build up a respectable portfolio suited to the amount of risk you are comfortable with. We find it hard to fault OptionsHouse, but don't just take our word for it – even Barron's, America's premier financial magazine, gives it 4.5 out of 5 for trading experience. That's got to be worth a look!

Before placing any trades with OptionsHouse you will no doubt want to research some investment ideas and get detailed information on the companies or funds involved. OptionsHouse provides numerous different tools to make the most of market data and interpret it in any way that suits you. When researching new investment options probably the most useful of these tools are the Covered Call and Put Spread Investigators which scan available options and report on those which potentially have the highest returns. They might not get it right every time, but if you know what you are looking for it's a great place to start.

As well as a full range of analysis tools OptionsHouse hosts a wide range of tutorials to help educate people about making sensible investment choices and different investment strategies. These are all free to access and should be essential reading for anyone looking to develop an understanding of financial markets. To try out some ideas OptionsHouse has a virtual trading account that starts off with $5000 of virtual money. You can take full advantage of the trading platform to try out different strategies with your virtual money and hone your skills without risking any real capital. Again, essential for anyone just starting out in investing!

OptionsHouse offers a cutting edge technology trading platform as its main entry point into the world of stocks and shares. The user interface is fully customizable meaning that you can cram in as much information as you like, or thin it out and only watch the stocks you are interested in. Live market data is constantly streamed to update real time charts and figures so you can react instantly to changing conditions. Once you are set up with an account, one click trading is possible to make sure you don't miss any chances. The whole thing is web based so you can access it from any computer you like and it works equally well on Mac or Windows. There are also dedicated Android and iPhone mobile apps and the web site tailors itself to a mobile screen if you are accessing it from any other mobile device. These features are great and essential if you want to keep up to date with your investments on the move.

One of OptionsHouse's missions is to lower the barrier to entry into the the world of stocks and shares. It does this by offering great value fees on placing trades to maximise the return on your investments. Up to a certain number of options is charged at a flat fee and then any additionals are charged at a low rate per contract. Given the excellent trading platform and wealth of analytical tools this accesses we think it's a great deal. A full range of different investments is also offered, including stocks and options as well as a wide range of mutual and retirement funds.

OptionsHouse is a great choice for new or experienced investors. The rich platform provides everything you need to analyze market conditions and quickly react in order to maximize your investments, while the supporting tutorials and guides provide deep insight into investment strategies. Combined with the very competitive fees being charged this makes OptionsHouse well deserved of its highly respectable number two slot in our top ten list of online trading platforms.

In conclusion:

OptionsHouse is by far the better choice for keen investors due to its low charges and very low commissions. Try before you buy and open an account in just 20 minutes with no obligations. Feel free to play with the virtual free trading platform to see if OptionsHouse is right for you. With some of the best IRA Accounts in the country, the prestigious Barron’s award behind them , low fees and great customer service - it is certainly one of the best brokerages in the U.S.



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Comments (2)
Ranked #4 in

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I don't know much about stocks, thanks for this info.

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OPTIONSHOUSE COUPONS
Get a FREE Kindle Fire HD when you open and fund an OptionsHouse account @ Optionshouse
Get a FREE Xbox 360 when you open and fund a new OptionsHouse account @ Optionshouse
Get Open an IRA Today and Get 100 Commission-Free Trades and up to $125 in Transfer Fees. @ Optionshouse
Get 100 Free Trades @ Optionshouse
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