Optionshouse has one of the lowest commission schedules of all online discount brokers. It charges $4.95 per stock trade with up to 50,000 shares per order.
In regards to options, Optionshouse' commission plan is hard to beat: $4.95 base plus $0.50 per contract.
The company also offers extremely low, $20 flat-rate commission for mutual funds. The firm does not charge IRA setup and annual IRA fees, there is only $60
IRA termination fee. Optionshouse has no Traditional (Roth) IRA account balance minimums and inactivity fees.
The firm offers a decent selection of retirement account types. Minimum to open any IRA account is $0.
Trade Free For 60 Days When you Open a New IRA Account with OptionsHouse
Optionshouse Review: Trading Platform and Mobile Trading
Optionshouse’s trading platform is surprisingly comprehensive for a discount broker. Beginners may be overwhelmed but experienced traders will enjoy all of the
features and information. Optionshouse also offers free seminars on options trading to its members. The seminars explain the nuances of different
trading strategies and how to implement them.
Optionshouse provides mobile trading on Android phones and the iPhone. Optionshouse also offers a host of tools to its members, such as the liveACTION Scanner,
Snapshot Analysis, Spectral Analysis, strategySEEK, exitPLAN, and adjustTRADE.
Optionshouse Review: Setting Up A New Security Account
Opening Optionshouse account is a simple and quick process - completing an online application will take as little as 8 minutes.
Although most accounts can be opened online, some accounts
(mostly for foreign residents from UK, Germany, Hong Kong and Germany only), may require additional paperwork.
A process of opening Optionshouse brokerage account includes five easy steps: setting up a login information, submitting personal information, confirming,
agreeing and funding a new account.
Open Optionshouse account with thier current special offer: Open and fund an OptionsHouse account to receive up to $1,000 worth of commissions on online trades for a full 60 days.
Once your account is approved and funded, you can buy shares of stock and buy call and put options. You may also sell covered
calls and cash-secured puts. All of these strategies are designed to limit investor's risk. Option credit spreads may only be traded on European style,
cash-settled indices. European-style positions are held through expiration and cannot be exercised before.
Some advanced and experienced traders may complete a Complex Options Agreement requesting approval for alternate strategies.
If approved, you may also trade debit and credit spreads on equities and all other indices.
Optionshouse Review: Brokerage Pros
- Very low trading commissions
- No set up, annual or inactivity fees for IRAs
- No maintenance or inactivity fees
- No minimum deposit to open a cash or an IRA account
- Virtual trading platform for beginners
- Free streaming quotes
- Sophisticated trading platform and powerful tools
- Free seminars on options trading
- Rated high by industry's most reputable magazines
- Award-wining mobile Apps (5 stars out of 5 by Barron's 2016)
Optionshouse Review: Brokerage Cons
- Beginners might find the platform quite intimidating
- Additional charges for penny stocks: $0,005 per share of stock traded for stocks priced $2.00 or less that are not options eligible
Optionshouse Review Summary
There are many factors to consider when choosing a broker. Some offer lower fees and commissions while others offer more products to trade or better tools.
OptionHouse’s cost and customer service stand out when compared to their competitors. Furthermore, Optionshouse does not charge maintenance and inactivity
fees or require its members to maintain minimum account balances as other brokers do. In addition, the firm does not charge fees for IRAs.
In the beginning of 2015 Optionshouse finalized merger with another discount brokerage firm - TradeMonster. The merger created 7-th largest brokerage house in
the U.S. Optionshouse's customers will benefit from TradeMonster's excellent suite of trading tools.
In 2016, Optionshouse is among three brokerage firms which received the highest 4.5-star rating among all the companies
participated in the Barron's ranking. Optionshouse is the leader of Barron's best for options traders brokers
this year and in the five years prior. Its mobile platform was ranked number one overall by Barron's.
Optionshouse ranks very high in the 2016 Investor’s Business Daily Survey of Active Investors.
It ranks the top “Options Trading Platform” and appears among best five low commissions and fees brokers.
Optionshouse’s pricing and commission schedules are attractive to traders of all types.
Current Optionshouse Promotion Offer 2017
Open and fund an OptionsHouse account to receive up to $1,000 worth of commissions on online trades for a full 60 days.
a Friend And Receive a $150 Amazon.com Gift Card or 30 Commission-Free Trades
Optionshouse Commissions and Fees
|Stocks and ETFs|| $4.95|
|Stocks and ETFs broker assisted|| $4.95 + $25|
|Options||$4.95 + $0.50 per contract|
|Mutual funds|| $20|
|The introductory rate for futures accounts is $1.50 per side plus Exchange and NFA fees. After 9/30/2016, the rate will increase to $2.00 per side plus Exchange and NFA fees.|
Optionshouse IRA & Account Fees
Open Optionshouse Account
|IRA Setup Fee||$0|
|Annual IRA Fee||$0|
|IRA Termination Fee||$60|
|Full Account Transfer Out||$75|
|Partial Account Transfer Out||$25|
|Outgoing Wire Fees||$25|
|All Optionshouse fees »|