Optionshouse reviews, ratings, pros and cons, complaints from brokerage customers

Optionshouse Ratings

Optionshouse average user rating: brokerage firms reviews

Optionshouse BrokerageReviews.org rating: 5-star brokerage firm rating

Optionshouse Review: Stocks, ETFs & Options Trading Commissions

Stocks and ETFs: $3.95
Two plans for options:

1. Up to five contracts for $5; each additional contract $1

2. $8.50 + 0.15/contract rate (great if you trade over 10 contracts)
Mutual Funds: $9.95
Orders for U.S. treasury bonds and listed corporate bonds are accepted by phone

Minimum To Open Optionshouse Online Brokerage Account

There is no minimum account balance. The minimum account balance is not the same as the minimum initial funding size. The minimum initial funding size is $1,000 for a cash account and $2,000 for a margin account.

Optionshouse Promotional Code/Offer/Bonus 2012

Optionshouse Reviews


by Djvpuls, 11/22/2011 Pros: Cons: I've been an optionshouse user since 03/2011, and I have not had any problems with them. The trades happen instantaneously and I have been able to buy stock, sort stock, and use margin all to my advantage. I have never had a problem with their platform and I use it almost every trading day. They have great prices, and they are just what I needed.
by jack, 10/7/2011 Pros: cheap Cons: customer service bad bad slow slow rude rude Their customer service is the worst among all the brokers I used. The apparently cheap and crappy system(system down a lot during trading hours) drove me crazy. The data got messed up often. You cannot short most stocks. The customer service is unbelievable rude. I don't recommend this broker. afterhour trading is just one hour.
by ad, 6/17/2011 Pros: Cons: Security they introduced new trading platform has security error. anyone can access your account they know your first name and last name. mean your login info visible in url. they still improving platform may fix this
by Terry, 3/8/2011 Pros: Low cost Cons: No day trade margin/ shortened AH trading Good 4 the occassional order only.
by J.Z., 2/9/2011 Pros: inexpensive, simple Cons: research tools OptionsHouse is very inexpensive and the minimum account funding is low so anybody can start investing. The platform is very basic and the research tools don't help me much. I use Ameritrade also because they have great research tools and investing ideas. They are very expensive for trading so I don't really use that account for trading.
by Ryan A, 11/23/2010 Pros: Cons: I really like OptionsHouse. I opened my account this past spring. Their customer support has been very helpful ever single time that I’ve called them or contacted them via the Live-Chat on their website. When I initially opened my account, a representative from OptionsHouse gave me a call shortly afterward to just touch base with me and asked if I had any questions or needed any help. Their trading platform website is intuitive, simple, fast, and easy to use. Additionally, they give you a “virtual” account to practice trading so you can familiarize yourself with the platform before you make any real trades. One of the prior commenters sounds frustrated because his funds were put on hold for a few days. That’s just the nature of ACH transfers. Every bank/brokerage/etc. will put ACH funds transfers on hold for a few days. It’s just like waiting for a check to clear. If you want instant transfers, you should do a wire transfer instead. I think OH even has a promotion code that reimburses you for any fees you incur when you wire money in. I do, however, agree that it would be nice to have the ability to trade in the extended/after-hours session up until 8ET.
by MK, 11/17/2010 Pros: Cons: I tried to do business with OptionsHouse. The New Accounts Dept rejected an IRA beneficiary form for not having SSN for the beneficiaries. No problem, I had a new one witnessed and mailed to them the next day. Two days later, the Operations Dept, w/o any warning, email or phone call, emailed me that they were returning my IRA check. Even though I was in constant contact with their New Accounts Dept, and was told everything was fine, the Operations Dept obviously wasn’t in contact with the New Accounts Dept. A classic case of the right hand not knowing what the left hand was doing. But I really suspect OptionsHouse did me huge favor by giving me a preview of their customer service.
by wa, 10/21/2010 Pros: Cons: My experience with Optionshouse customer service were generally good. I have both IRA and roth IRA account with them and I tried to increase my trading level so that I can trade credit spread, and they approved both times without much difficulty.
by rasesh, 9/23/2010 Pros: Cons: No concerns with them. Been with them for more than 2 years. The interface is simple for trading, but mostly useful for position trading only, not day trading in fast marktes. The customer service is good as well.
by Kaiser, 8/19/2010 Pros: Cons: I opened up my account last week with OptionsHouse with a promo they gave me for 10 free trades. I got an email about a new promo they are running until 12/1/08 that gives you 100 free trades for the first six months. The trading platform is great so far, looks and feels really good for such cheap trades.
by bloodrush, 7/10/2010 Pros: Cons: I've been with OptionsHouse for about 2 months now. Everything seems to be very nice and has improved quite a bit in the last few months. I mostly trade QQQQ Options, so you can't beat the commissions..period. I usually do 50 - 100 contracts per trade. $10 per leg flat rate regardless. I'm pocketing at least $60 extra per round trip compared to the next cheapest I could find (Zecco). Highly recommended!
by JayBiddyTrader, 6/10/2010 Pros: Cons: Their contacts are dirt cheap for options at only .15 per contract. But you get what you pay for. Their platform is very basic. And don't try to short stock or buy pink sheets, because they aren't geared to do this effectively. You will get error messages and be forced to talk to a broker. Also, they don't offer quarterly contracts or after-hours trading, but for pure cheapness with decent execution on options, they are the best. My backup broker is thinkorswim.

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Optionshouse reviewed by BrokerageReview.org users. 12 customer reviews. Rating: 4.

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