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By on November 6, 2012
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OptionsHouse was founded by PEAK6 Investments in 2005 and has recently been rated as one of the best broker for options trading by Barron’s. Besides options, OptionsHouse also offers investments in stocks, mutual funds, bonds and ETF’s.

In this OptionsHouse review, I’ll cover what OptionsHouse has to offer, who they’re right for, and give you guys some links to the latest OptionsHouse promotions. If you’ve used OptionsHouse before, please add your own rating and review below.

OptionsHouse – The Basics:

Investments: Stocks, mutual funds, bonds and ETF’s.
Commissions: Stocks are $3.95 per trade, valid up to an order size of 50,000 shares. There is no additional fee for after hours trading. Two plans are utilized for options trading — one costs $5 for up to 5 contracts with an additional charge of $1 per contract beyond that. This plan is meant for less active investors. The other plan, meant for active investors, has a base fee of $8.50 with an additional charge of $0.15 per contract. An additional $5 fee is charged for any assignment. Mutual funds cost $9.95. You can also place orders for US treasury bonds and listed corporate bonds by phone.
Investor Education: Client education programs are free and consist of blogs, and live or archived webinars and seminars. If you are a funded customer, OptionsHouse will also provide you with 14 days worth of free investment coaching when you open a new account.
Mobile apps: OptionsHouse has been ranked as #1 by Barron’s when it comes to mobile trading. Apps are available for the iPad, iPhone, Kindle Fire and Android devices. Using these apps you can check and manage your account balances, watchlists and portfolio performances, view real time data such as charts, quotes and news. You can also create, update or cancel orders.

OptionsHouse’s customer service and support center can be reached via telephone, email and live chat. They are usually very prompt in responding to customer requests.

A minimum fee of $1000 is required to open up a cash account and $2000 is charged for opening up a margin account with OptionsHouse. Find out how you can get 100 commission free trades when you apply for an OptionsHouse account now.

Pros & Cons Of OptionsHouse:

Pros Cons
  • Very low commission rates.
  • Free virtual trading facility.
  • IRA accounts not charged a fee.
  • Low margin rates.
  • Free streaming quotes.
  • Highly efficient trading tools.
  • No account inactivity fee.
  • Low account minimum fee of $1000 for cash accounts and $2000 for margin accounts.
  • Free extended hours trading.
  • Free privileges of check writing.
  • Limited access to international markets.
  • No forex trading.
  • Shortened period for extended hours trading.
  • Additional fee of $0.005 per share for the entire order if the stock costs less than $2 per share.
  • 24 hour support not provided.
  • Personalized support not provided.
  • Online trader community is not present.

How Others Rated OptionsHouse In 2012:

Barron’s: 4/5 stars

          Highest rated category: Mobile

          Lowest rated category: Range of Offerings

Smart Money: N/A (not rated)

          Highest rated category: N/A (not rated)

          Lowest rated category: N/A (not rated)

Word On The Street Is…

OptionsHouse is hugely popular for its low costs in stock trading and for providing cheap and efficient financial services to its large clientele. OptionsHouse is also one of the top brokers for options trading, according to Barron’s survey.

Overall takeaway: Great pick overall considering bang for your buck, especially for options traders.

OptionsHouse Promotion Code:

Hit the link below to claim the latest OptionsHouse promotion. Click below to claim promotion code Get 100 commission free trades

Where To Open A OptionsHouse Account:

Open A Personal/Joint/Custodial/Business Account With OptionsHouse: Apply Here

Open An IRA Account With OptionsHouse: Apply Here

Open A Forex Trading Account With OptionsHouse: N/A

P.S. Don’t forget, if you’ve used OptionsHouse before, please help us by adding your rating and review below!



About Peter Voga

Self-confessed coffee addict. Family man. Rage Against The Machine fan. Lover (and sometimes hater) of the stock market. Founder of BrokerChats. For more, follow me @petervoga or check me out on Facebook or Google+.

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