OptionsHouse // Big let down
4 stars based on
OptionsXpress has consistently been one of the more popular online brokers for options traders for many years. In it was bought out trading levels optionsxpress account Charles Schwab, to complement their financial and banking services and it continues trading levels optionsxpress account impress. It offers a variety of useful tools and is well known for regularly improving its offerings.
This broker trading levels optionsxpress account for innovation and yet remains committed to providing a user friendly experience. It isn't difficult to understand why it's trading levels optionsxpress account popular with options traders. Given its tendency for innovation, and the fact that it's now under the corporate umbrella of Charles Schwab, it's reasonable to expect that OptionsXpress will only get better in the future too.
We have provided a detailed review of OptionsXpress below to help you find out more about what is available at this broker. Key aspects such as trading costs, tools, features, and customer support are all covered.
If you are looking to minimize your trading costs then OptionsXpress is not the best broker for you. However, if you are prepared to pay a little bit more to access a powerful and useful range of trading tools, then it's definitely worth considering. In our opinion what this broker has to offer justifies the cost. OptionsXpress is an online broker for those traders that are prepared to pay a premium for the powerful and innovative tools.
It is not cheap for low or high volume traders but the trading platform and its various features should appeal trading levels optionsxpress account beginners and experienced traders. There are two commission tiers at OptionsXpress. It's fair to say that OptionsXpress isn't cheap. Equally if you trade in very high volumes then the relatively high fee per contract will also prove costly.
Medium volume traders probably get the best value, but there are still cheaper alternatives out there. You shouldn't necessarily rule this broker out based on these costs alone, because trading levels optionsxpress account does have a lot to offer.
It should also be noted that there's no charge at all for exercising or assigning options, something that most brokers will impose a fee for.
The trading platform at OptionsXpress, called Xtend, is available within your web browser or as a downloadable software application. Most users seem to prefer the web based option and it's more user friendly.
It also appears to be more responsive and run more quickly. Beginners and experienced traders alike should appreciate the trading platform, in terms of both ease of use and functionality. It features some of the best trading tools of any online broker and it's very trading levels optionsxpress account in helping you find and assess opportunities and execute your chosen trades.
The options chains tool allows you to view quotes, updated in real time, for each leg of a wide range of different options strategies. You can see the relevant intrinsic value and time value of options, and putting together complex spreads and executing them is very straightforward. Overall there is a strong element of getting what you pay for as the higher commissions charged by OptionsXpress really are justified by the quality of the trading platform and its associated tools.
The platform is also mobile compatible too, which is useful for those wishing to trade using a smartphone or other mobile device. At OptionsXpress you will find pretty much all the research tools you need to make informed and educated trading decisions.
You can get basic trading levels optionsxpress account of the information you wish to see and you can drill down into the detail if you want to. You can create customized watch lists and alerts with relative trading levels optionsxpress account, and view the latest market news.
The tools for analysis are good too. There are several patterning tools and screeners that will allow you to search through potential trades and select those that appeal to you.
The customer service at OptionsXpress is very strong. You can contact support staff via telephone, email or live chat and can expect a helpful response. Response via email trading levels optionsxpress account be a little quicker, but there is no real cause for complaint. OptionsXpress does offer 24 hour support, but currently this is only available to futures traders. If they extended to this to options traders as well then they would score even higher for customer service.
OptionsXpress Review and Evaluation OptionsXpress has consistently been one of the more popular online brokers for options traders for many years. Who We Recommend OptionsXpress to. Additional Services at OptionsXpress. OptionsXpress doesn't impose a minimum deposit for opening an account. Customer Service The customer service at OptionsXpress is very strong.