OptionsHouse Review
Not long ago I first saw Optionshouse emerge onto the stock broker scene. To be honest, my initial reaction was, "oh not another discount stock broker". I didn't really want to spend my time looking at yet another broker. However when I finally did there were a few surprises.
A real look at the Fees
Firstly I saw this image on their website that grabbed my attention:
No maintenance fees, no volume requirements, no account minimums, no extras for broker-assisted trading. After seeing this I began my quest to check out all the small print to find out the catch. When I see something that sounds too good to be true, it almost always is.
However, with Optionshouse, there is almost no catch. The only thing I have been able to find is an additional charge of $0.01 per share on all stocks priced less than $2. This is only ever likely to be an issue for those trading penny stocks. For regular stocks it shouldn't be an issue.
Awards
Despite being fairly new on the stock broker scene, I was surprised to learn that Barron's has listed Optionshouse as the "Best Broker for Options Traders". This caught my attention because long time established brokers like OptionsXpress and Etrade would have been considered for this award.
Customer Support
I have always found the optionshouse support to be satisfactory. I have mostly used the liveperson online support system they have and have always been "seen" promptly by one of their online agents. I have also rang their customer support toll free on 1-877-653-2500 and have had my query dealt with promptly by an intelligent individual.
Virtual Trading
Optionshouse offers a virtual stock trading platform which is a big bonus in my view. It is very similar to the platform that OptionsXpress offers. Once you sign up for an account, you get instant access to the virtual trading platform.
Things I felt were missing
Some of the bigger brokers like Zecco have a trading community with them. This is always a welcome part of a broker for me. Perhaps Optionshouse will implement this as they grow.
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