OptionsHouse Cheap Online Stock Broker Review – $3.95 Cost Per Trade

by Hu$tler on December 9, 2011

in Investments

Founded and owned by PEAK6 Investments, L.P., OptionsHouse is a broker dealer based in Chicago that offers a Web-based, near-professional trading platform specializing in trading options. It is currently running a FREE Dell 24? , 27?, 30? LCD Monitor Promotion with $5K, $100k, $250k funding, respectively. There is also an option to get 100 free commission trades in the first 60 days after you fund your account with a minimum of $3,000. More importantly, there is no maintenance fees, no minimum trade requirements, and trades are just $3.95 per trade. Highly ranked, the platform features a unique “trade center” design that allows traders to make trades quickly without changing screens. The interface screen is very clean and professional: the main screen consists of your account summary, quote look-up, order statuses, positions, and detailed information on particular securities.

OptionsHouse is now offering a free Amazon Kindle Fire for opening a new account with $10,000 and make 15 trades within 90 days of funding. Make sure to use promotion code FIRE to get this awesome offer. According to the terms, you must keep the $10k there for 180 days after original funding date. The promotion ends on December 31, 2012.

 

When you trade at OptionsHouse, you not only get one of the lowest, most competitive rates available, you also get the flexibility to pick the rate that works best for you. Trade less than 10 contracts? Then pick the Up To 5 for $5 rate where your first five contracts are only $5. Trade over 10 contracts? Maximize your value with their low $8.50 +.15/contract rate. And best of all, you can change your rate when your trading behavior changes.

Highlights:

  • Stocks and ETFs: $3.95
  • Stocks and ETFs Broker assisted: $3.95
  • Two plans for options:
    1. Up to five contracts for $5; each additional contract $1
    2. $8.50 + 0.15/contract (great if trading over 10 contracts)
  • Two plans for spreads:
    1. Up to 10 contracts for $10; each additional contract $1
    2. $12.50 + 0.15/contract
  • Mutual Funds: $9.95
  • Spreads: Up to 10 for $10 with $1/contract over 10 OR $12.50 plus $0.15/contract
  • Orders for U.S. treasury bonds and listed corporate bonds are accepted by phone
  • Investments: stocks, options, mutual funds, bonds, ETFs
  • Minimum to open account: $1,000 for cash account, $2,000 for margin account
  • New account is immediately funded with $5,000 of virtual money and customers could start practice trading right away. This virtual trading feature is a great learning and testing tool for developing trading strategies without risking hard-earned money. Accounts offered at OptionsHouse: Individual, Corporate, Roth IRAs, SEP IRAs, Traditional IRAs, Joint, UTMA, UGMA, Trusts, Partnerships, Investment Clubs, and Educational IRAs.
  • OptionsHouse also offers a solid iPhone app; great options trading education; and high end professional level options trading tools, including streaming charts and news, volatility charts, a probability calculator, and an options hotlist, to name a few.

OptionsHouse is a member of SIPC and appeals most to experienced, self-directed traders. They offer a stellar trading experience for unmatched value with some of the cheapest commissions on all investment products without compromising in customer service, quality of trading tools and reliability. OptionsHouse was rated 4 1/2 stars (highest rating) for Trade Experience and awarded an impressive third consecutive “Best for Options Traders” ranking in Barron’s 2011 annual ranking of top online brokers. Look for OptionsHouse to become more and more popular in the years to come simply because they make it profitable to trade options, and they are constantly improving the value they offer from their service.

Current Promotions:

  • REFER-A-FRIEND Tell a friend about OptionsHouse and get $150 or 30 commission-free trades. Spread the word and we’ll spread the wealth. Recommend OptionsHouse to your friends and get your choice of $150 or 30 commission-free trades. Simply log in and input your friends’ e-mail addresses, and we’ll send them a short invitation to join OptionsHouse. There’s no limit to the number of referral bonuses you can receive, so don’t hesitate to send to your entire extended family, college alum group, or social networking list. Initial registration is required, and then for every person you refer that completes and funds an account, you’ll be eligible to receive $150 in cash (via PayPal) or 30 free trades. You can even choose to get the $150 in the form of an Amazon Gift card or you can donate it to the Red Cross. All you have to do is log in and input your friends’ e-mail addresses and we’ll send them a short invitation to join OptionsHouse. There’s no limit to the number of referral bonuses you can receive
  • Get Free Morningstar Investing Newsletters when You Open and Fund a New Account at OptionsHouse
  • Open an account @ OptionsHouse today and receive a free wide screen DELL monitor
  • Open and fund an IRA account @ OptionsHouse today and receive 100 commission-free trades and up to $125 in transfer fees
  • See More OptionsHouse’s Current Promotions

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{ 2 comments… read them below or add one }

kyle May 15, 2012 at 9:10 pm

does the $3.95 trade include selling?

Reply

Sheika May 2, 2012 at 11:37 pm

$10k and 15 trades in 90 days, there is a good chance of losing big chunk of $10k. I won’t go for that bait.

Reply

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