TradeKing vs OptionsHouse

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TradeKing and OptionsHouse are two brokers we rate very highly here. Question is can we recommend one over the other?

To find out we’ve pitched them up against each other, we’ve rated them on the customer service they provide, the usability of their respected trading platforms, the trading tools they offer, the education they provide and of course price.

Finding a new broker has never been so easy, use the tables below to find out which of these two brokers suits your level of experience and trading style best. You can then sign-up for a virtual account and take them for a thorough test drive before you commit yourself.

Products & Services
Broker	TradeKing	OptionsHouse
Rating	[rating:5/5]	[rating:5/5]
website	Visit the TradeKing Website	Visit the OptionsHouse Website
Our Review	Read Our TradeKing Review	Read Our OptionsHouse Review
	Bank Deposits	Bank Deposits
	Bonds	Bonds
	Certificates of Deposits (CDs)	Certificates of Deposits (CDs)
	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

In terms of services provided there’s little to choose between them, TradeKing offer CDs but not day trading, OptionsHouse offer day trading but not CDs. So that makes it easy to choose if you require CDs or you’re a day trader, the rest of us are going to have to look a little deeper.

Although OptionsHouse do welcome day traders, they don’t offer reduced rates for them. This is partly offset by the fact their rates are very competitive anyway, even at full price they’re still cheaper than the reduced rates E*TRADE offer frequent traders.

I should also point out that OptionsHouse do offer bond trading, but you can only trade them via the telephone. I’m not sure why this is but I’m sure it’s only a temporary measure and hopefully it’ll be fixed in future platform updates.

Trading Tools
	TradeKing	OptionsHouse
	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

It’s pretty much the same story here, literally nothing to choose between them in terms of features. But how you use those features is what makes the difference.

The TradeKing platform is incredibly intuitive to use. Suitable for both beginners and intermediate traders, it has one click trading so you can place a trade from anywhere within the system.

OptionsHouse on the other hand has a fully loaded platform with all the bells and whistles, but it’s not as easy to use as the TradeKing one, you can’t action trades from within charts for instance.

Fortunately both brokers offer virtual trading, giving you ample opportunity to test drive both before you decide.

Summary

OptionsHouse are extremely competitive on price, they beat TradeKing who aren’t exactly expensive on everything except Mutual Funds. If price is your overriding factor then OptionsHouse is the way to go.

But what if you’re a beginner? As a rookie you need to focus on training and education as well as support. This is where TradeKing excel, they have an excellent trading community that’s a treasure trove of trading ideas and money management tips.

OptionsHouse don’t offer any facility like this, you’re pretty much left on your own. That doesn’t mean to say their training isn’t up to scratch. They offer some excellent options training, but it’s aimed at more experienced traders.

As a beginner you’d be better off sacrificing the cheaper fees and getting your head around the basics of trading before you move on to more complex options strategies, you can always move on to OptionsHouse at a later date.

OptionsHouse are perfect for the more experienced and intermediate traders amongst you. Their platform might not be as easy to use but it’s got all the tools you’ll ever need and don’t forget you’ll be making significant savings along the way.

You may also like:

1. OptionsHouse Review
2. TradeKing Review