ChoiceTrade is a registered broker that offers trading in financial market instruments including securities and options at reasonable costs, through an online platform. The broker is a member of Nasdaq, NYSE Arca and SIPC. Let’s have a look at its recently declared new program called as Zero-commission Option Trades.
Widening its option trading ability, ChoiceTrade will introduce a novel program called Zero-commission Options in October. It will provide the facility to sell or buy in equity and ETF options for zero commission during options expiration week. Only eligible traders will be able to access the Zero Commission Option promotion. This includes those, who trade in the U.S. equity or ETF options during option expiration week. The week will expire on Friday and the expiration week will be the week before the third Saturday of every month.
The program doesn’t incorporate trading in stocks; only options’ trading is eligible.
For those traders, whose accounts have not been endorsed can fax or email their completed Options Agreement form to ChoiceTrade for appraisal, so that the company can evaluate the same on certain parameters.
Both single-leg and multi-leg option trades are the part of the zero-commission program and one can trade up to a total of 500 contracts during options expiration week.
Only the first 500 contracts are eligible for zero commission. After that, the regular commission charges will be applicable, for which the commission rate is $5 per trade, with an additional per contract rate of $0.55.
During the regular options expiration week, you may execute opening or closing position according to your choice.
Any customer, who will engage into at least five trades a month, he/she will be awarded with a ChoiceStreamer, as announced by the company. It is an advanced portfolio management solution that would help in supplying timely information about the market to the trader. With the help of this easy to use service, you can keep an eye on your investments online, along with the news from the research company and SEC filings. It offers charts, intra-day, historical data of stocks and live video broadcasts.
Refer your friends to OptionsHouse and get your choice of $150 or 30 commission-free trades.