OptionsHouse vs SpeedTrader



100 Free Trades. Visit OptionsHouse.com Today  Not all brokers are the same, sure they all offer the same products and whilst their customer service might be different choosing the wrong broker isn’t exactly going to affect your performance right!

Wrong! Choosing the wrong broker can have a serious affect on your performance. Why? Because different brokers have different platforms, some are suitable for big ticket traders, others are better for beginners just starting out.

So you need to make sure the broker you choose has all the tools you need to trade and delivers all the data you need at the right time. Getting either of these two things wrong could be a disaster.

To help you out we’ve compared these two proficient brokers to see what kind of traders they appeal to and why?

 

Products & Services

Broker OptionsHouse SpeedTrader
Rating [rating:5/5] [rating:3/5]
website Visit the OptionsHouse Website Visit the SpeedTrader Website
Our Review Read Our OptionsHouse Review Read Our SpeedTrader Review
Bank Deposits Bank Deposits
Bonds Bonds
Certificates of Deposits Certificates of Deposits
Day Trading Day Trading
Services Extended Hours Trading Extended Hours Trading
ETFs ETFs
IRAs IRAs
Mutual Funds Mutual Funds
Trading Community Trading Community

 Services Overview

There’s not much to choose between them in terms of services. One negative thing that stands out however is that SpeedTrader is one of the few brokers who still charge an annual IRA fee, so if you’re looking to manage your own IRA, OptionsHouse is the way to go.

Other than that they’re pretty much equal in terms of products and services. Most brokers these days offer all the major investment products so the real difference is going to come down to their respected trading platforms and of course price.

Trading Tools

OptionsHouse SpeedTrader
Automated Trading Automated Trading
Investor Resource Center Investor Resource Center
Mobile Trading Mobile Trading
Online Advisor Online Advisor
Trading Tools
Profit & Loss Calculator Profit & Loss Calculator
Streaming Charts Streaming Charts
Stock & Fund Screeners Stock & Fund Screeners
Tables & Graphs Tables & Graphs
Training & Education Training & Education
Virtual Trading Virtual Trading

 Trading Tools Overview

Trading tools can make or break a broker; fortunately both these brokers have exceptional platforms with a wide range of tools to choose from. That’s where the similarity ends though.

SpeedTrader have a professional grade platform developed by a proprietary trading firm. They pride themselves on the speed of execution hence the name SpeedTrader. They also have a range of professional style tools suitable for intermediate and advanced traders including level 2 data.

OptionsHouse is more of an all round broker, they don’t offer level 2 data so they’re not suitable for day traders. But they do have a full range of options tools available. So if you’re an intermediate trader with a small to medium sized account OptionsHouse is the way to go.

Fees & Commissions

OptionsHouse SpeedTrader
Account Minimum $1000 $0.00
Margin Account Minimum $2000 $2000
Stocks & ETFs $3.95 $6.95
Options Base $8.50 $0.00
Options Per Contract $0.15 per contract $1.00 per contract
Account Management Fee $0.00 $30.00 Quarterly Inactivity Fee
Broker Assisted Trades $3.95 $6.95
Mutual Funds $9.95 $50.00
Bonds Bond Orders Accepted By Phone $50.00
IRA Annual Fee $0.00 $35.00

Summary

So which broker is right for you? Well if you’re an advanced trader who trades frequently and have an account balance in excess of $50,000 SpeedTrader would be a good choice. They have a full professional tool set perfect for more advanced traders and day traders.

If you trade smaller amounts and don’t require level 2 data OptionsHouse will suit you better. Their trading platform is more than adequate for intermediate traders and they have exceptionally low pricing whilst still offering excellent customer service.

OptionsHouse is the better all round broker, they provide everything 90% of all traders will ever need. SpeedTrader on the other hand appeal to maybe only 5% of traders. They offer some great technical tools and a direct access platform but most traders will find that overkill for their needs.




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