OptionsHouse Review
The Good:
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• 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 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.
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• 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.
Getting Started in the Stock Market:
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So you've reached a point in your life where you
can afford to invest some money in the stock market.
Congratulations! You are now among the fortunate few who have that kind
of money. However, the stock market is not something to rush into. Here
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Gotten through the initial education stages of
investing and still want to get in the game? Excellent. However, there
are still more things to consider. Before you run off and invest your
hard-earned money, there are a few more things you should consider
before jumping in.
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You've put the work in. Educated yourself on the
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made your decision(s). It's time to decide which online broker is right
for you, register an account and get in the game. But as always, there
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