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Best Online Stock Trading

  1. eTrade Financial
  2. TradeKing
  3. OptionsHouse
  4. optionsXpress
  5. Scottrade
  6. TD Ameritrade
  7. Schwab Active Trading
  8. Sharebuilder
  9. SogoTrade
  10. Fidelity Investments
 

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OptionsHouse - Star Review

 
     
 
 

 
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Background

OptionsHouse is an online brokerage firm that offers customers the chance to utilize an options trading platform to trade stocks with leading cutting edge technology. OptionsHouse was founded in 2005 by PEAK6 Investments and utilizes PEAK6 Technology. PEAK6 Investments was founded in 1997. Many of the management employees for OptionsHouse have been in the trading business longer than 10 years and some have been in it over 25 years. This means that among the entire management team OptionsHouse has a lot of knowledge and experience to contribute to the company.

Some of OptionsHouse partners include Stock House, The Chicago School of Futures and Options Trading, OptionsLineBacker, The Options Report, and the Online Trading Academy. OptionsHouse is not accredited by the Better Business Bureau. OptionsHouse is also a member of the Securities Investor Protection Corporation (SIPC). The Website is also Norton Secured which means that customers can feel secure inputting their personal and financial information on the website.

OptionsHouse Features:

  • Patent pending trading platform which is highly customizable
  • Trading tools developed by professional traders
  • Webinars to education customers on options trading
  • Social media options for customer service such as Facebook, Twitter, LinkedIn, and a company blog
  • And an affiliate program with website owners who would like to refer customers to OptionsHouse via their website
  • Norton Secured website with Verisign powering
  • 100 commission free trades and virtual trading available for beginners

OptionsHouse Pricing:

According to the Optionshouse.com website the company offers some of the lowest trading fees online. OptionsHouse offers customers a flat fee of $3.95 per trade. Additional fees include five options for $5.00, $1.00 per additional options, and a spread up to ten for $10.00. Additional pricing information can be found online on the OptionsHouse website.

OptionsHouse Customer Service:

The OptionsHouse website offers extensive customer service choices including a customer service online form, mailing address, toll-free phone number, local phone number, fax number, live chat, and email. Customer service hours, which are clearly stated on their customer service web page, are Monday through Friday from 7:00 a.m. to 7:00 p.m.

It should be noted that OptionsHouse cannot accept trading requests via email so this form of customer service should only be used for other types of customer service inquires.

Pros:

  • The website is very user-friendly and easy-to-navigate.
  • Customers can learn new skills and build on their existing skills with virtual trading. Virtual trading utilizes virtual dollars which can help teach customers how to trade and learn the platform before they trade in real life.
  • Webinars include tutorials and articles to further teach OptionsHouse customers how to begin trading and to hone their skills.
  • The OptionsHouse frequently asked questions section is extensive and there is an easy-to-use search bar to help you find the answers to all of your questions.

Cons:

  • Cash accounts need to be funded with a minimum of $1,000 which may not be an option depending on your budget.

Our Impression:

OptionsHouse offers customers a chance to trade online without being charged some of the high per trade rates that other online stock companies charge. Additionally, OptionsHouse has a high level of customer service and contact options that fit any customer’s needs.

One of the biggest draws to using OptionsHouse is their online webinars and classes that can teach you how to utilize their system and begin trading with confidence. The OptionsHouse website is also well-designed and you will not feel overwhelmed using the site or opening an account. Many of these features are free of charge to customers as well which means that you can begin trading even if you are on a limited budget.

 
     
 
 
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