OptionsHouse Review
9.1* /10Our Rating
User Rating

OptionsHouse

Coupling tons of trading options with unbelievably low prices, OptionsHouse has made a huge splash in the online brokerage industry over the past decade or so. Starting at $4.75 for stock transactions, OptionsHouse simply offers prices that most online trading platforms just can’t match. OptionsHouse doesn’t stop at low pricing, however, offering traders a number of platforms to help them trade stocks, options and other commodities in any way that they’d like. With an emphasis on bringing the necessary tools and resources to people who have an experienced and confident grasp of stock trading, this company could be the perfect brokerage to steer your portfolio without breaking your bank.

History

Launched in Chicago in 2005, OptionsHouse has quickly shaken up the ranks among online brokerage companies, challenging industry standards with its combination of powerful platforms and low pricing. The company also made immediate waves by becoming one of the first companies to offer specialized trading platforms to help customers manage their accounts individually. With consistently high ratings from Barron’s, a highly respected reviewer in the industry, OptionsHouse shows no signs of slowing down any time soon.

Pricing

Usually, to benefit from a solid, powerful trading platform, you’ll have to also pay ridiculous transaction fees for every trade you make. OptionsHouse, on the other hand, turns this convention on its head, offering both an impressive interface and incredibly low prices. For instance, you can trade stocks for $4.75, which is much lower than most online stock brokers can match. In addition, the 15 cent rate on options per contract is also way lower than most of its competitors. There are a number of other low rates available from OptionsHouse, as you can see in our price chart below.

FEES AND FIGURES
  • Stock Trade Fee $4.95
  • Options Base Fee $4.95
  • Options Per Contract Fee $0.50
  • Mutual Fund Trade Fee $9.95
  • Number of Mutual Funds 1,000+
  • Broker Assisted Trade Fee $4.95
  • Broker Assisted Per Contract Fee $25.00
  • Commission Free ETFs N/A
  • Minimum Deposit No
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Interface

Whether you’re trying to trade from the comfort of your own home, or take your trading with you on the go, OptionsHouse has some intuitive solutions to help you implement your financial strategies. For people familiar with stock tickers and spreadsheets, the OptionsHouse trading platform could give you everything you need to stay competitive in a constantly evolving market place. You’ll have the ability to create as many complex options chains as you can fit on one page, which could really make your day trading a snap.

Researching stocks can also be simplified with OptionsHouse’s interface, allowing you to check on stocks by their ticker initials. Thanks to the customizable nature of the platform, this information can take up very little space on your screen, helping you to keep an eye on all of your other commodities simultaneously. You’ll get this information very quickly, thanks to OptionsHouse’s fairly Spartan visual style, which gives you tons of information without all the unnecessarily flashy graphics.

Even more impressive is the fact that OptionsHouse manages to shrink all of the power of their trading platform into a handheld device. Yes, with OptionsHouse’s convenient mobile app you can get everything that you like about the trading platform and take it everywhere with you. For people who want to implement day trading techniques, this type of portability could be indispensible in such a thrilling and demanding environment. OptionsHouse Mobile could make mobile trading possible for people with all sorts of devices, from iPhones and iPads to Kindle Fires to Android tablets and phones.

Resources

If you spend a little time around OptionsHouse’s platform pages, you’ll see that there are plenty of resources that could help you learn a lot about your investments before you take any action. For instance, two of the handiest features are the OptionsHouse Risk Score and Risk Viewer, which allow you assess the strength of each commodity you’re considering. As a basic summary of a particular stock’s stability, the Risk Score will let you know quickly whether or not you’d be interested in pursuing the stock further. The Risk Viewer, similarly, investigates your portfolio to potentially predict its overall strength and show where you could potentially improve.

Even after you’ve invested some time on research, it can still be a little daunting to pull the trigger on a trade. To help you feel more assured, OptionsHouse has created the Virtual Trader function to let you see how different trade techniques might potentially play out over time. Basically, you can pretend to buy and sell commodities with “funny money” before you wager your actual funds on a trade. As a bonus, you can use the signature trading platform features before you settle on using the company for your financial strategies—further minimizing any feelings of uncertainty you might have.

Once you’re at the trading threshold, you can use the trade generator feature, which could predict how successful a particular action on your part might be. You can also receive streaming news from within your trading interface, which could help keep you stay abreast of important changes in the market as you continue to track changes in your positions.

The Good

Offers powerful tools to veterans with low, low prices

The Bad

Doesn’t offer the graphic display that many newcomers will be looking for

The Ugly

Doesn’t allow you to trade all mutual funds

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