OptionsHouse vs TradeMONSTER



100 Free Trades. Visit OptionsHouse.com Today  Have you outgrown your existing broker? Or maybe their service just isn’t what it used to be and you’re looking for a change. Whatever the reason you’re looking for a new broker you’re sure to need some help along the way.

Whilst one broker might be perfect for one type of trader they might not be suitable for you. To illustrate my point, a friend of mine recommended a broker to me, he said he’d been happy with their service for the past two years and I should check them out.

So I gave them a try, but I soon realized their platform was lacking some of the tools I’ve become used to. So whilst they’re a good broker and perfect for my friend, they’re not a suitable broker for me.

So to prevent you from making the same mistake i did we’ve compared two brokers, OptionsHouse and tradeMONSTER. Check out the comparison tables below and you should be able to figure out which broker will suit you best.

Products & Services

Broker OptionsHouse tradeMONSTER
Rating [rating:5/5] [rating:3/5]
website Visit the OptionsHouse Website Visit the tradeMONSTER Website
Our Review Read Our OptionsHouse Review Read Our tradeMONSTER 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

You can see in terms of investment services that both brokers are equally matched; they both offer a full range of investment products with the exception of Certificates of Deposits (CDs) which you can obtain from your local bank anyway.

One other thing to mention is that neither OptionsHouse or tradeMONSTER is really suitable for day traders due to platform limitations, day traders would be better served by joining a direct access broker like Lightspeed or a broker which provides level 2 data like E*TRADE. But for the vast majority of traders both these brokers are more than adequate.

Trading Tools

OptionsHouse tradeMONSTER
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

The table above only tells half the story. Because while both brokers offer some excellent tools for options traders, tradeMONSTER is somewhat lacking in tools for stocks and mutual funds.

So if options make up the vast majority of your trades, tradeMONSTER should do you just fine. If you’re looking to build a more rounded portfolio or manage an IRA, OptionsHouse would be the better choice.

You can’t say either of these two brokers has a bad platform you can definitely say OptionsHouse will suit 75% of traders whilst tradeMONSTER is a much more specialized platform that will suit only 5% of traders.

Fees & Commissions

OptionsHouse tradeMONSTER
Account Minimum $1000 $2000
Margin Account Minimum $2000 $2000
Stocks & ETFs $3.95 $7.50
Options Base $8.50 $0.00
Options Per Contract $0.15 per contract $0.50 per contract ($12.95 Min)
Account Management Fee $0.00 $0.00
Broker Assisted Trades $3.95 $15.00
Mutual Funds $9.95 $15.00
Bonds Bond Orders Accepted By Phone $15.00 per bond
IRA Annual Fee $0.00 $0.00

Summary

To sum-up then, if you’re an options trader with a medium sized account either of these two brokers will suit you fine. OptionsHouse offers the best value for money and the most rounded trading platform, tradeMONSTER has more specialized options tools for the serious options trader.

If you’re new to trading you’d be better off choosing a broker that offers training specifically tailored towards beginners, like Zecco. You’ll also benefit from their excellent trading community.

Intermediate traders with medium sized accounts of up to $50,000 or those looking to manage their IRA would be better off choosing OptionsHouse due to the very competitive pricing and better all round platform.

tradeMONSTER is only really suitable experienced trader who trade predominately options. Their platform is just little too weighted towards options for them to be any good as an all round broker.




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