Lately, OptionsHouse has been in the news for the wrong reasons. It raised flat fee from $2.95 to a flat $3.95. This made me take a fresh look at the popularly known broker for options trading and check if it still remains the cheapest in the pack of online discount brokers. Read on to find out:
Along with a competitive flat rate of $3.95/stock trade, OptionsHouse is still offering 100 free stock trades for new signups. This might be a limited time offer, so with the new rates you must hurry to sign up for a new account and get the most out of their package. Remember, their flat rates apply to stock trades only, and for trading in options, spreads and other instruments they have a different pricing structure, which is surely hard to beat. Using our brokerage savings calculator, you can compare the pricing and see your savings if you trade with OptionsHouse.
I know it’s a hard choice to finalize on a broker, and some find it tedious to manage multiple accounts, so you must compare product and pricing from leading online brokers and opt for the one which suits your trading style.
To begin with, you will have to navigate through a large number of reviews and compare latest promotions, as online broking industry is witnessing a lot of new competition. Although, it can become much easier if you are aware of your trading needs, whether you are an options trader or you simply want to deal in stock trades. Then, knowing how much you trade on a monthly basis will further help you in narrowing down the choices.
OptionsHouse is becoming one of the most popular online discount brokers and the reason is quite apparent. Apart from their flat fee charging policy and free 100 trades, their commissions on options trading (for which it is more popularly known, and in fact, named after that) are quite reasonable. They charge 5 for $5 or $8.50 plus 0.15 per contract which is far better than what other online brokers charge. OptionsHouse is a venture of PEAK6 Investments, L.P., which is a renowned proprietary options trading firm. For full review for OptionsHouse, please visit OptionsHouse User Review
Next, broker firms are time to time honored by surveys conducted by finance firms and media, particularly financial magazines. OptionsHouse has bagged a lot of such title and wards so far like the “Best For Options Traders” awarded by the Barron’s 2009 Online Broker and #1 Rating in Trade Experience, above distinguished brokers like OptionsXpress and ETrade.
OptionsHouse has a wide palette of services and special features that add to the reasons for the company to make a difference. Their Virtual Trading Tool accessible to all members on signing up, though quite comparable to the one of OptionsXpress, is one of the most practical and helpful among all other instruments of various brokers. Their Investment Platform is exceptionally convenient and well-suited for all types of traders. They have successfully tried to make it least distracting for the traders, letting them manage their transactions with an ease.
Before I finish, their Tools and Education section is equipped with resourceful tools, calculators, screeners and simulators to help an active trader deal with their stock holdings in one of the most professional ways. Time to time, they introduce trading guides, books, informative papers, webinars and various other learning tools to edify the traders with advanced trading and investing tips.
If you’re a newbie at investing and trading and feel like putting it through its paces, OptionsHouse certainly one of the brokers to start trading with. There are primary two reason for it, biggest one being their free trading offer. Next is their really low rates. In fact OptionsHouse is among the top popular brokers at CompareBroker.com. Click here to find more details about them and open an account.