OptionsHouse Review – The Discount Broker For Options Traders

5 stars based on 48 reviews

I know many of you are interested in beginning a taxable investing account and so I'm back with a quick review of another online stock broker to help you do your cheap stock trading. OptionsHouse is an options-focused broker that also offers extremely cheap stock trades.

As you may who can trade stocks optionshouse may not know, options trading isn't for everyone. An option is basically a financial instrument that gives you the right to engage in a transaction later. Therefore, a stock option, would give you the right to buy or sell a stock at a later time. If this type of advanced trading strategy appeals to you, then you should likely give OptionsHouse a chance. You won't see many advertisements for the options-focused, discount broker OptionsHouse.

Some of you may never have heard of them. That's because it seems they spend their advertising dollars on offering you one of the cheapest stock trading fees online. That probably got your attention. PEAK6 is likely the reason OptionsHouse was who can trade stocks optionshouse recognized by Barron's as the top online broker for trading experience.

One of their main goals with OptionsHouse is to help take traders from a basic who can trade stocks optionshouse to a more professional level. They aim to do this by offering a professional level platform and a slew of educational tools, including free training courses. See the current promotions below. The pricing is pretty simple. But what about options? There are no maintenance costs, minimum trade requirements, or account balance minimums.

No download is needed. All you need is your web browser to access the trading platform. OptionsHouse seems to pride themselves on keeping the platform fast, simple, and user-friendly. I've seen reviews that say it's simply one of the most intuitive platforms out there. OptionsHouse also has several trading tools for you to utilize when doing your research. These who can trade stocks optionshouse a risk view to evaluate your portfolio risk, streaming charts and news, a stock screener, and more.

In addition, they also have a virtual trading platform where you can learn the ropes of options trading without risking any capital. By the way, you don't even need to fund an account to check this feature out. You can fund your account a number of ways: See promotion below for an ACAT transfer freebie. After that, there is no minimum balance requirement. As a whole, I'd say Who can trade stocks optionshouse is an excellent place to do your online trading.

It's hard to beat those low fees and to draw from personal experience, I've been using OptionsHouse for the last two and a half years for all of my stock trading options as well and I've never had a problem. The software is excellent and online chat and over the phone support has always helped when I needed it. If I had one negative to say about them, it's that the transfer of funds in and our of my account is slow.

Three full business days each way means who can trade stocks optionshouse sometimes, I miss a trade I wanted to make if I didn't have the funds available. To sign up with OptionsHouse just visit their official website at www. After spending a ton of money to go to the private University of Miami, Michael now enjoys spending time at home, writing personal finance articles for the world to read.

His journey out of debt continues words at a time. Before now, I have never heard of OptionsHouse before but I will definitely be checking them out!

Hi, I'm Philip Taylor. I'm a husband, father, blogger, CPA, and entrepreneur. I love learning to do more with my money and sharing it all here with you. Join in on the conversation and start improving your financial life today. The content of ptmoney. PT Money Do more with your money in half the time. About OptionsHouse You won't see many advertisements for the options-focused, discount broker OptionsHouse.

Fees and Pricing at OptionsHouse The pricing is pretty simple. Use the promo code FREE or sign up using any link within this post. Nice perk for a beginner.

Three full business days each way means that who can trade stocks optionshouse, I miss a trade I wanted to make if I didn't have the funds available To sign up with OptionsHouse just visit their official website at www. Join 38, subscribers improving their financial life. Now check your email to confirm your subscription. There was an error submitting your subscription. About Michael Pruser After spending a ton of money to go to the private University of Miami, Michael now enjoys spending time at home, writing personal finance articles for the world to read.

June 22, at June 18, at 3: I actually just learned of OptionsHouse and may start using them for the lower fees. Return to top of page.

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Discount option broker reviews

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Unlike many online brokers OptionsHouse, as the name indicates, it's very much focused on options trading. It's owned and operated by Peak6 Investments, which is one of the largest options trading firms in the United States. The good thing about this is that it pretty much ensures that OptionsHouse knows exactly what its doing. This has provided OptionsHouse with access to some of the best options trading knowledge and insight, and it clearly shows.

It's undoubtedly one of the very best online brokers for trading options and provides an excellent range of products and services. More than likely, anything that you might be looking for or needing out of an online broker you'll be able to find here. We have provided more detailed information about this broker in our review below. We cover all the key aspects, including the costs of trading, the platform, and research and analysis tools.

The biggest appeal of this broker is its competitive commissions and fees, as trading costs are good value for both low and high volume. Therefore OptionsHouse is highly recommended to price sensitive traders but it should will also appeal to those looking for a user friendly and functional trading platform.

OptionsHouse is very competitive when it comes to its commission structure. There are two commission plans for trading, one of which is aimed at those that trade relatively infrequently and one of which is aimed at the more active traders.

Broker assisted trades are also available and, rather unusually, at no extra cost. OptionsHouse customers can choose to switch which plan they use up to once per day, which can be useful if making trades of different sizes.

What these two plans mean in practice is that OptionsHouse is attractive in terms of costs to basically all kinds of traders. This has been achieved while still having a commission structure that is easy to understand.

Just as the fees at OptionsHouse should appeal to all options traders, so should the trading platform. It's completely web-based, meaning nothing to download, and it's clean and modern looking.

It's simple to use, easy to navigate, and offers plenty of tools and features. The platform is also extremely customizable, more so than others. The entire interface can be set up to suit your own preferences, simply by adding or removing different sections to the layout. You can even adjust the size of certain sections or choose to have them open up in a new window. This makes the whole platform incredibly user friendly. In terms of the tools and features, OptionsHouse scores highly here too.

Perhaps the highlight is the all in one order ticket, which can be instantly accessed with a single click. This is really easy to use and makes entering orders a really straightforward process. Also impressive is the Trade Generator, which creates a list of potential trades that may appeal to you based on the parameters you choose to enter. The PNL Calculator will calculate the potential profit and loss of any strategy you may be considering, including complex strategies.

Risk Viewer is a handy tool that will evaluate your open positions and can help you manage your risk exposure. There is live quote streaming, current market news, and much more as well. Experienced traders looking for advanced features won't be disappointed while beginners should have problems getting used to trading while using this platform.

OptionsHouse also offers mobile compatibility for those wishing to trade using their smartphone or tablet. There are applications designed specific for the iPhone and Android devices and these have been created to a high standard. If OptionsHouse has a weak spot it's probably in the research tools they offer. There is no third party research available, something which most brokers do provide, and much of the research features they do have are somewhat lacking in depth.

You can access basic information but there isn't much that gives you any real insight. This failing could be considered fair enough considering the fees charged by OptionsHouse, but it's definitely an area where the broker should look to improve. More positively, the technical analysis tools available are of a significantly higher quality. You can easily view short term and long term trends, along with various statistics and trading signals.

Additionally there are summaries provided for bullish, bearish and non-directional events. OptionsHouse provides customer support via phone, email, and live chat. The staff appears to be very knowledgeable and they are certainly helpful. It can be something of a chore to connect to live chat as you have to input a fair amount of details, but this is a very minor issue. Telephone support is available from 7am to 7pm Central time, Monday to Friday. OptionsHouse set out to provide amateur retail traders with access to similar functionality and tools that are available to the professionals.

It's fair to say that this has been achieved, and with very competitive commissions too. The only failing of note is the disappointing research tools. Everything else is very impressive. This broker should appeal to most trader types, and their fee structure is certainly attractive to both low and high volume traders. It's probably more targeted towards those that have some experience behind them, but there is opportunities here for beginners too. Detailed Review of OptionsHouse Unlike many online brokers OptionsHouse, as the name indicates, it's very much focused on options trading.

Who We Recommend OptionsHouse to. Additional Services at OptionsHouse. Customer Service OptionsHouse provides customer support via phone, email, and live chat. Summary OptionsHouse set out to provide amateur retail traders with access to similar functionality and tools that are available to the professionals.