4 stars based on
It was founded in and is currently one of the smaller online brokers. It has been rated eoption broker review the best options brokers by Barron's, as you can see below: Barron's - "Lowest Overall Cost - 4. Their cash management offers automatic sweep, check writing, check card, and online bill payment. One of the eoption broker review things about eOption is that they have higher than normal account requirement for trading certain uncovered options strategies.
I'm not sure why they would do this. Here is a screenshot of their complex order entry for options: One of eOptions biggest benefits is that they offer auto-trading where you can execute eoption broker review, option, or mutual fund trades automatically, based eoption broker review your newsletter's eoption broker review alerts.
You must first be a subscriber to the newsletter. OmniPro is an advanced direct-access trading platform designed for professional traders to handle high-capacity demands, proprietary trading firms, and black-box trading systems. The OmniPro technology provides multiple-order entry configurations and monitoring controls. This platform can access every electronic U.
The platform provides up to two, level-2 boxes, two option montages, four streaming intraday chart boxes, and a streaming watch list. Users have the ability to trade from the option montage or level-2 box.
By offering very low option commissions, eOption targets high-volume option traders. Here is their philosophy on their business model: Our business model is not based on charging high commissions for tools and features clients do not use, or may already have.
We appreciate that many of our clients have other accounts, eoption broker review as most of us like to shop at a few favorite eoption broker review, not just one.
Our value proposition is based on filling the deep discount niche, offering clients the ability to realize immediate significant savings with our no frills approach to trading We readily admit you will never see an eOption commercial during a football game. We will however, give you a very good execution price and an easy-to-use system.
My Opinion Although they offer the lowest option fees, they are still not a widely-known or popular broker. Even among the trading forums where full-time traders hang out, there is not much talk about eoption broker review. Despite this, I think they are a fine firm to open an account with. They have a reputation for being a very basic broker with a very bare-bones interface and tools, so they are best used by traders who get their analytics and tools from a third-party.
My Recommendation If you are trading a high volume of options a couple of thousand contracts per eoption broker reviewthen you should definitely be with one of the two deep discount option brokers - eOption or OptionsHouse. If you are looking for a more reputable firm, I would open an account with OptionsHouse given that they are only 5 cents higher than eOption. But if you don't care about being with a lesser-known firm or the 5 cent lower commission makes a difference then trying out eOption would be fine.
Trade options at OptionsHouse.