OptionsHouse Review

The Good:

 
Like the name suggests, OptionsHouse is definitely geared towards options traders. In fact, that have won the Barron’s award for Best Options Trades three years in a row. They have a sliding scale commission structure for options that is literally less than half the cost that the majority of their competitors charge, making this an easy choice for anyone out there who is looking to trade options.


Not to be outdone by their low options commissions, OptionsHouse has gone the extra mile and is offering the lowest stock commissions I’ve seen online: $3.95 per trade. If you are an active trader (or plan to be), the money you will save with this ultra low commission rate will seriously add up over time. Click here for a complete rundown of OptionsHouse's commission structure.


OptionsHouse offers a virtual trading platform that allows beginners to sign up and practice trading before they make the real plunge. This is a nice feature for the extra-cautious out there, and according to some experts this is something that *all* new investors should do before they buy a single stock.






The Could-Be-Better:

optionshouse logoOptionsHouse FAQ Snippet

Q: Is there a minimum funding level?
A: We require a minimum funding level of $1,000 to open a cash account and $2,000 to open a margin account.

Q: What's the fastest way to fund my account?
A: A wire transfer is the quickest way to fund your account so you can begin trading as quickly as possible. OptionsHouse will even reimburse...continue reading.

In my opinion, their online trading platform is great. However, I have been involved in online trading for some years now and am experienced enough to use it. Given the fact that the company is geared towards options traders, the platform might not be most user-friendly for those who are just starting out. If you are quick to catch on and are computer savvy, this shouldn’t matter much to you, however in the interest of being fair I had to mention it.


As was the case with Trade King, there always seems to be a catch when it comes to ultra low commission rates. OptionsHouse charges an additional $0.005 per share when you trade any stocks that are under $2 per share. If you are planning on sticking to larger companies, then this will not apply to you. However, if you are looking to get involved with penny stocks, this is something you should be aware of.





Summary:

If you are (or plan to be) an options trader, then look no further than OptionsHouse. Their commission structure will save you a bundle over the long term compared to its competition, and their platform is perfect for options trading. Having said that, it is not only for options traders and those who only plan to trade stocks can also take advantage of their best-in-class $3.95 per trade commission. You can't go wrong with OptionsHouse, in this reviewer's opinion. High recommendation.



$3.95 Flat-Rate Stock Trades @ OptionsHouse.com


Not sure if OptionsHouse is for you?
   Check out more BestOnlineTrader reviewed sites:
                   tradeMONSTER
                   TradeKing
                   E*Trade
                   Questrade


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