4 stars based on
I know many of you are interested in beginning a taxable investing account and so I'm back with a quick review of another online stock broker to help you do your cheap stock trading. OptionsHouse is an options-focused broker that also offers extremely cheap stock trades. As you may or may not know, options trading isn't for everyone. An option is basically a financial instrument that gives you the right to engage in a transaction later.
Therefore, a stock option, would give you the right to buy or sell a stock at a later time. If this type of advanced trading strategy appeals to you, then you should likely give OptionsHouse a chance.
You won't see many advertisements for the options-focused, discount broker OptionsHouse. Some of you may never have heard of them. That's because it seems they spend their advertising dollars on offering you one of the cheapest stock trading fees online.
That probably got your attention. PEAK6 is likely the reason OptionsHouse was recently recognized by Barron's as the top online broker for trading experience. One of their main goals with OptionsHouse is to help take traders from a basic level to a more professional level.
They aim to do this by offering a professional level platform and a slew of educational tools, including free training courses. See the current promotions below. The pricing is pretty simple. But what about options? There are no maintenance costs, minimum trade requirements, or account balance minimums. No download is needed.
All you need is your web browser to access the trading platform. OptionsHouse seems to pride themselves on keeping the platform fast, simple, and user-friendly. I've seen reviews that say it's simply one of the most intuitive platforms out there. OptionsHouse also has several trading tools for you to utilize when doing your research.
These include a risk view to evaluate your portfolio risk, streaming charts and news, a stock screener, and more. In addition, they also have a virtual trading platform where you can learn the ropes of options trading without risking any capital.
By the way, you don't even need to fund an account to check this feature out. You can fund your account a number of ways: See promotion below for an ACAT transfer freebie. After that, there is no minimum balance requirement. As a whole, I'd say OptionsHouse is an excellent place to do your online trading. It's hard to beat those low fees and to draw from personal experience, I've been using OptionsHouse for the last two and a half years for all of my stock trading options as well and I've never had a problem.
The software is excellent and online chat and over the phone support has always helped when I needed it. If I had one negative to say about them, it's that the transfer of funds in and our of my account is slow.
Three full business days each way means that sometimes, I miss a trade I wanted to make if I didn't have the funds available. To sign up with OptionsHouse just visit their official website at www.
After spending a ton of money to go to the private University of Miami, Michael now enjoys spending time at home, writing personal finance articles for the world to read. His journey out of debt continues words at a time. Before now, I have never heard of OptionsHouse before but I will definitely be checking them out! Hi, I'm Philip Taylor. I'm a husband, father, blogger, CPA, and entrepreneur. I love learning to do more with my money and sharing it all here with you.
Join in on the conversation and start improving your financial life today. The content of ptmoney. PT Money Do more with your money in half the time. About OptionsHouse You won't see many advertisements for the options-focused, discount broker OptionsHouse.
Fees and Pricing at OptionsHouse The pricing is pretty simple. Use the promo code FREE or sign up using any link within this post. Nice perk for a beginner. Three full business days each way means that sometimes, I miss a trade I wanted to make if I didn't have the funds available To sign up with OptionsHouse just visit their official website at www. Join 38, subscribers improving their financial life. Now check your email to confirm your subscription. There was an error submitting your subscription.
About Michael Pruser After spending a ton of money to go to the private University of Miami, Michael now enjoys spending time at home, writing personal finance articles for the world to read. June 22, at June 18, at 3: I actually just learned of OptionsHouse and may start using them for the lower fees. Return to top of page.