OptionsHouse Review

Posted by Kate on July 20, 2011

Since we looked at that great Dell offer from OptionsHouse (remember, it expires July 31, 2011!), it makes sense to take a look at all that OptionsHouse has to offer as a brokerage.

Their rock-bottom prices and low account minimums make them a great choice for the casual investor while their sophisticated platform will appeal to those with more complicated trading strategies.

OptionsHouse Review

OptionsHouse was founded by PEAK6 Investments, L.P., a large options-trading firm based in Chicago. Peak6 developed OptionsHouse to give average investors access to a sophisticated trading platform developed by those who trade options for a living.

OptionsHouse Account Features

  • Account Minimum: None
  • Opening Account Minimum: $1,000
  • Account Fees: None

OptionsHouse Trading Fees:

  • Stocks & ETFs: $3.95 per trade
  • Options less than 10: 5 for $5, then $1/contract over 5; OR
  • Options over 10: $8.50 +.15/contract
  • Mutual funds: $9.95 per trade

OptionsHouse Advantages

Trading Tools. OptionsHouse trading tools include streaming charts and news, volatility charts, a probability calculator, and an options hotlist.

Customer Service. OptionsHouse’s customer service and trade desk staffers pride themselves on old-fashioned attention and support. They are available 7 a.m. to 6 p.m. CST except for when the market is closed and offer support via live chat, phone & e-mail.

OptionsHouse Overall

The OptionsHouse interface seems a bit more advanced than the average investor will require. However, their prices and minimums are very low so they are definitely a great choice if you are doing a bit of investing in individual stocks or ETFs.

OptionsHouse Current Offers

Referrals. OptionsHouse recently increased their referral program. It’s now a choice of $150 or 30 free trades for each person you refer.

Financial Times. OptionsHouse also gives you a free one year subscription to FT.com for new accounts funded with $5,000.

Dell Monitors. Until the end of the month, OptionsHouse is offering 3 different sizes of Dell monitors for opening & funding a new account. You can review all the requirements of the offer in Free 24″ – 30″ Dell Monitors from OptionsHouse.

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