Optionshouse vs TradeKing
Optionshouse or TradeKing. Low cost online brokerage firm comparison: fees, commissions, benefits, good and bad.
|Options (per contract)
||$9.95 buy & sell
||$50, $0 with conditions*
|IRA Annual Fee
|IRA Termination Fee
|Outgoing Wire Fees (Domestic)||$25||$30|
|Outgoing Wire Fees (International)||$n/a||n/a|
|Full Account Transfer Out||$75||$50|
|Partial Account Transfer Out||$25||$10.00 per security, $50 maximum|
|Trading Experience & Technology
|Portfolio & Analysis Reports
|Customer Service and Education
- 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)
- Very low commissions
- Excellent customer support via email, phone and chat
- Trader Network: an online community of investors
- Customizable trading platform with responsive design
- Free DRIPs/Dividend Reinvestment plans (whole and fractional shares)
- Free real time streaming quotes for active traders
- Free access to MarketGrader's research reports
- Extensive educational resources
- Extra hours trading
- 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
- A single source of third-party research
|Open an account
||Open and fund an OptionsHouse account to receive up to $1,000 worth of commissions on online trades for a full 60 days.
||Open a TradeKing Account and Get $1,000 in Free Trade Commissions.
* - Inactivity Fee will be assessed only if: No trades have been executed in your household account(s) in the last 12 months
AND the combined value of your household account(s) is less than $2,500.
Optionshouse vs. TradeKing Comparison 2017
Being close rivals, Optionshouse and TradeKing have significantly grown in the last few years not only by their size
but also by the level of sophistication of their trading platforms, research and education tools. Thanks to companies' recent acquisitions
of smaller competitors, which allowed Optionshouse and TradeKing to improve their trading tools, to integrate new technologies and to
provide a wider array of investment products, adding up more quality to their services. All these, together with an excellent,
one of the lowest in the industry pricing, put TradeKing and Optionshouse on the list of today's
highest rated investment firms.
TradeKing and Optionshouse charge $4.95 on stocks. None of the major competitors has the same low trading cost. Optionshouse's pricing for
options ($4.95 + $0.50) is slightly lower than Tradeking's ($4.95 + $0.65). For the past five years, Optionshouse has claimed the top spots
in the category of the 'Best for Options Traders' in the annual Barron's magazine survey. In 2016, Optionshouse was ranked
the #1 best broker for options trading by Barron's.
Mutual funds commissions are also one of the lowest among competitors. It is only $9.95 for TradeKing and $20 for Optionshouse.
On the other hand, it is $76 for Schwab and $49.99 for TD Ameritrade.
Brokers' fees provide clear and straightforward fee schedules, which are posted on their official websites and can be found with ease.
Brokerages do not charge set up or maintenance fees and do not require initial deposit to open an account. Unlike Optionshouse,
TradeKing has an inactivity fee of $50, which can easily be avoided with a single equities trade in 12 months or is waived for an
account with a balance of over $2,500.
When it comes to IRA accounts fees, Optionshouse becomes a more attractive option. The brokerage has no set up or annual fees for IRAs.
Optionshouse offer lower margin rates.
Both brokerages offer great trading tools. While Optionshouse's trading platform might feel quite intimidating for people new to investing,
TradeKing with its user-friendly, intuitive tools can be a great
brokerage for beginning traders.
TradeKing brokerage also provides great educational resources and trader network, where investors can connect and share their insights and experiences.
In the past few years, TradeKing has received high scores for usability and user-friendliness in Barron's annual rankings.
and Optionshouse are great low-cost brokerage firms,
which are highly recognized in the industry. Both companies are very attractive options to traders of any types.
If you haven't decided yet which brokerage firm will fit your investment objectives the most, take a look at brokers' incentives.
Both offers are great way to safe on trading commissions in the beginning period and increase your investment, potentially.
Optionshouse offer: Open and fund an OptionsHouse account to receive up to $1,000 worth of commissions on online trades for a full 60 days.
Yet, if you don't have $5,000 to deposit into a new Optionshouse account in the first 60 days of account opening, then TradeKing, with no minimum requirement for a special bonus of $100 in free trade commissions,
is the better choice.
TradeKing Offer: Get $500 in free
trade commission with a $500 minimum deposit. No hidden fees.