OptionsHouse, OptionsThis and OptionsThat. So many options brokerage houses which means confusing choices for us all. Other than having OptionsHouse promotion codes (see below for them), how does this broker get you to remember them? How about $4.75 per stock trade to start?
Click Here to Sign up for an OptionsHouse Account and type in the promotion code FREE100 to be eligible.
There are also other Optionshouse Promotions below, so check it out after you read the review.
Fees Come First
That’s not a typo. Over at OptionsHouse, stock trades are just $4.75 no matter what. When a company can make money with rates like this, it really makes you wonder how much money other premium stock brokers are making off of us. Recently, OptionsHouse updated its options commission structure to give you two options. Either $8.50 + $0.15 per contract or just $5 for 5 contracts. If you are one of those people who just want to buy yourself some protection, you are very happy with this change.
Here’s some of the other fees of the options broker.
Exactly what I like to see. No maintenance fees, no minimum trade requirements, and if I ever want help, broker-assisted trades are still just $4.75.
Upon looking into the account, I found that the interface is very much like the professional trading platforms of the higher end brokers for professional traders. Within the main screen, you can see an account summary, quote look up, order statuses, positions, and detailed information on particular securities.
Webinars and Seminars
I’ve begun to really love the education that these brokers provide and OptionsHouse is no exception. It’s obvious that the company’s expertise is in options trading because all the webinars are concentrated in that area but I expect it to expand to stock trading and other subjects in the future.
Don’t Underestimate Them
While many of you may not have heard about this brokerage firm, they seem to have their act together. In fact, Barron’s Online Broker Survey ranked them highly in trade experience, beating out the likes of thinkorswim, optionsXpress, E*Trade and Charles Schwab.
OptionsHouse really gets my blood flowing because of its extremely low trading fees. Is it SIPC insured? Check. Is there good word out there? Another check. Changing brokers is really a hassle though, but like others, they are willing to reimburse me for up to $100, which is enough to move from pretty much any institution. Hmm… decisions decisions decisions. As for you, there’s really no right answer, but I’d say that $3.95 stock trades is reason enough for you to at least give it a test run.
OptionsHouse Promotion Code
Here are the current promotions for this broker. When you sign up, type in the promo codes as shown below.
- Get 100 Commission Free Trades – Promo Code: FREE100 – Click for Details
- Free Live Seminars from Options Expert Traders
- Free Trial Trading Before You Commit Capital with Virtual Trades
- Transfer Your Assets from Your Current Broker and Get Up to $100 – Promo Code: ACAT100REFUND
- Wire Your Initial Funds and Get a $25 Credit – Promo Code: WIRE25REFUND
- OptionsHouse – Official Site
Who is OptionsHouse Anyway?
To be honest, one of the first reaction I had when someone told me about OptionsHouse was: “Who?” I then went to do a little research and here’s what I found out:
OptionsHouse is really OptionsHouse, LLC and is owned by PEAK6 Investments, L.P. The company’s headquarters is in Chicago, the home of the Chicago Board of Trade. The parent company have been in the options and derivative trading business for years, and is actually one of Chicago’s 101 best and brightest companies to work for.
Before you take the plunge though, make sure you read up on the issues other people are having before you sign up with them. A few love OptionsHouse, while other reviewers don’t. Take your whole test drive to get a realistic feel for how the broker will work for you, but take note of your peer’s experiences first.