OptionsHouse is an online stock trading broker with an emphasis on value-priced options trading. PEAK6 Investments, the parent company, launched OptionsHouse to create an online business that expands the reach of the stock market. PEAK6 Investments also created WeSeed, a social network on a mission to educate and prepare people to trade equities. WeSeed is an online community that helps its members to learn and practice trading real stocks in real time with play money. OptionsHouse, another chip off of the PEAK6 block, is also committed to educating folks about the stock market with free coaching and online learning. And, like WeSeed, it provides demo accounts so you can gain the confidence that results from experience prior to playing for keeps with real money.
OptionsHouse offers online stock trading as well as options trading. Its clients also have access to Exchange-Traded Funds (ETFs), a broad range of mutual funds and retirement accounts. This online stock trading broker also accepts telephone orders for U.S. treasury bonds and listed corporate bonds.
The OptionsHouse trading platform is beautifully designed and rich with useful features. To make a trade, you can look up a quote and then click on Ask or Bid to buy or sell. Or you can open an order ticket or access a trade menu from a number of screen locations. The options trading platform has just four primary screens, so you can navigate via tabs across the top for account activity details, options, stock and tools. Each view can dominate the screen or you can minimize the views and then invoke them whenever you need from a quick-launch area. To the right of the cockpit are subcategories to provide news, charts and company information, a watch list and a hot list.
To prevent you from ever flying blind, if you click on the Quick Assist icon and then hover over other parts of the screen, concise descriptions of features pop up. For more detailed guides about the site, a Quick Start feature picks up where the Quick Assist ends. Until you are comfortable with the trading platform, you can practice with a demo account that starts out with $5,000 of play money.
OptionsHouse provides a URL for mobile users to manage accounts with an interface appropriate for phones. Almost any mobile phone with a web browser works.
In order to make it easy to move money in and out of an OptionsHouse account, you can establish an electronic funds transfer between Options House and your bank. ACH, wire transfer and check requests are all accessible from inside of the OptionsHouse trading platform.
Cloudswave Score for OptionsHouse
Rating based on 20 Critic Reviews
Blain Reinkensmeyer, on Stock Brokers
OptionsHouse is one of those brokers that is great for investors who know what they want, and more importantly know how to maximize the best of what is offered while shrugging off the negatives.
After thorough testing of OptionsHouse, I feel the broker is great for options and discount trading, and with time should only become a better all-around broker. This is especially true if it can put some emphasis on keeping its option tools relevant and continuously improving the client experience.
John Schmoll, on Frugal Rules
OptionsHouse is a great brokerage to consider if you’re looking for a low-cost option for your investing needs.
I’m not a terribly active trader, though OptionsHouse is a good brokerage to look at if you’re interested in investing in options or are a somewhat active trader.
Ed Carlson, on Reviews
OptionsHouse has a winning combination of low trading costs and fees plus some of the best options trading tools around. They may not offer the same additional resources as other brokers, but that wouldn't be your primary reason for choosing OptionsHouse in the first place.
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