Updated February 22, 2011. Optionshouse is definitely an unique brokerage the offers some more than desirable features and commissions… and, YES, you can trade more than options.
Awards and Accolades
- Ranked number 1 in usability by Barron
Commissions and Pricing
- Stock trades are a flat-fee of $3.95 per trade
- Options trade at $8.50 + .15/contract.
- No inactivity fee
- $1,000 minimum to open cash account
Details and Summary
OptionsHouse is relatively new service that offer probably some of the cheapest commissions around… If not the cheapest. Regardless of the name, you can trade stocks with it as well.
Both stocks and options fees are both flat-rate fees, so it doesn’t matter how many contracts or shares you trade, it will always be the same price.
Pros
- Amazingly cheap commissions
- Test out their platform and your trading style with their virtual accounts
- Will cover up to $100 when you transfer to them
- Get $50 or 10 free trades when you refer a friend
Cons
- In-adequate tools for expert traders
- While offers cheap stock trading commissions, focuses more on options
OptionsHouse is the perfect solution for more active traders looking to move in and out of positions and/or quickly move large shares. Also perfect of heavy option traders. Very cheap trades.
What to do next – Sign up for OptionsHouse here
Similar stock brokerages – TradeKing, Zecco… Find the broker that best meets your needs.