Link Does anyone have experience with optionsXpress?
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Link Does anyone have experience with optionsXpress?
In order to qualify for the $100 offer, account application must be completed and a deposit of funds in the amount of at least $500 must be made by December 31, 2007. Those who qualify will receive funds in their account on or before January 10, 2008. Customer may only qualify once for this offer.
† optionsXpress will credit your account transfer fees up to $100 charged by another securities or futures broker when completing a full account transfer for $2,000 or more. Offer applies to new accounts first time funding only. To receive credit e-mail us or fax (312) 629-5256. Credit will be deposited to your account within 30 days of receipt of evidence of charge. We reserve the right at our sole discretion to modify or terminate this offer without prior notice.
You guys are talking about two different things. They will reimburse you up to $100 for transfer fees, but you also get $100 for opening an account with a $500 deposit. I don't know anything about these guys, but it seems like an easy $100. It doesn't even look like you have to trade to keep the bonus money.
From their site:
Fund your new account by December 31, 2007 and get $100!*
Open an account now and optionsXpress will pay the account transfer fees charged by your broker.†
* In order to qualify for the $100 offer, account application must be completed and a deposit of funds in the amount of at least $500 must be made by December 31, 2007. Those who qualify will receive funds in their account on or before January 10, 2008. Customer may only qualify once for this offer.
† optionsXpress will credit your account transfer fees up to $100 charged by another securities or futures broker when completing a full account transfer for $2,000 or more. Offer applies to new accounts first time funding only. To receive credit e-mail us or fax (312) 629-5256. Credit will be deposited to your account within 30 days of receipt of evidence of charge. We reserve the right at our sole discretion to modify or terminate this offer without prior notice.
I agree. It does look like an easy $100.
From their "no hidden fees" link: here
Why charge extra for the basics if you already pay us a fair commission rate for trades? At optionsXpress, we believe customers should NOT have to pay extra for standard online brokerage services.
So, when we say "no hidden fees", here is what we mean:
We DO NOT charge:
For account use, connection or access
For volume or quantity of activity
For real-time or streaming quotes
For standard withdrawals or deposits
For postage or handling of mail in the United States
For any "minimum balance maintenance costs"
For any "no-activity maintenance costs"
For any checking account maintenance costs
We DO charge:
$15 for outgoing wire transfers within the U.S. ($30 for international wires)
$50 for physical stock certificates
$50 for outgoing account transfers
$50 for IRA account termination*
Found this here:
From Consumer Reports Money Advisor
http://www.consumerreports.org/cro/money/personal-investing/online-brokers-6-07/ratings/0607_broker_rate.htm
firsttrade
etrade
tradeking
schwab
scottrade
Terra Nova
TD Ameritrade
ChoiceTrade
optionsXpress
Muriel Siebert
Fidelity Investments
Banc of America Investment Services
StockCross Financial
Wells Fargo
Trading Direct
Investrade
T. Rowe Price
Netvest
Vanguard Brokerage
I applied for an account a few years ago. Only reason I remember is that I am reminded every time I look at my Credit report. They hard pull.
Add the $100 refer a friend bonus after funding your account, and now we're at $200 for $500. Good enough return for me.
Hurry Offer ends December 31st
If someone refers you, I wonder if you can collect the $100 new account bonus too.
It appears you link to the referal form within you account:
********************
Refer-a-Friend (We'll thank you for it!)*
by Marketing on December 13, 2007 11:12 AM
Now there are even more reasons to spread the word about optionsXpress. We’ve made our refer-a-friend gifts even better!
Get 10 free trades or $100 in your optionsXpress account when a friend, associate or colleague opens an account and places a trade at optionsXpress!
Best of all, there’s no limit to the amount of free gifts you can receive!
If you’re happy with your optionsXpress experience, love our free tools or have a friend that’s new to options trading, there’s never been a better time to pass the word along about optionsXpress.
Why keep a good thing to yourself?
Refer-a-friend and start scoring those gifts!
Log in to your optionsXpress account today to refer-a-friend.
Michelle Torres
Email Marketing Manager
I finally found the referal information on their site:
The fine print says your friend must open, fund and make a trade.
Terms:
Offer limited to one reward per customer for each unique referral resulting in an activated, funded optionsXpress account which has executed at least one trade. Free rewards will be delivered or made available within thirty days of the referred account's first trade. Customers who select free trades for referrals will receive a single $14.95 deduction from their total commission for each of the next ten trades following offer availability. Unused free trade credits cannot be exchanged for other offers, cash or credit. Those who select $100 in their optionsXpress account cannot exchange the $100 for other offers, cash or credit. Trading books and optionsXpress gear are subject to availability. We reserve the right at our sole discretion to cancel, modify or suspend this offer program at any time without notice.
UTan87 said:I applied for an account a few years ago. Only reason I remember is that I am reminded everything I look at my Credit report. They hard pull.
Did you open an account with margin trading?
Do you recall which credit agency they pulled from?
I opened a cash only account (no margin) today and then pulled a credit report from CreditSecure and didn't see a hard pull from them. I'll update if one appears in the next couple of days.
Someone referred me, I do not see that I have the $100 new account bonus too.
krk206s said:I opened a cash only account (no margin) today and then pulled a credit report from CreditSecure and didn't see a hard pull from them. I'll update if one appears in the next couple of days.Same experience here, except I'm pulling with PM123. No hard inquiry on a no margin account.
I opened a cash only account. Waiting for my bank to be verified. Seems to be pretty straightforward.
they certainly don't seem to make their website very navigable. here are 3 questions i can't seem to get definitive answers to:
1. Is the $100 bonus limited to one per individual or household? To me, it looks as if there is no restriction on a husband and wife doing individual accounts and both getting the bonus.
2. How soon could the account be closed? The promo terms don't say, but I can't find anywhere on their site that talks about cancelation fees if closed within X months.
3. What is the interest rate on their cash accounts while your money is sitting there? The only thing I saw was it looked like the default was 0%, unless you paid fees associated with their interest-bearing fund (although not sure I was looking in the correct place).
My wife and I both have individual accounts there. They are ok. Their commissions are too high, 14.95, but no account fees. Customer service is pretty good.
Over the weekend, I began the process to transfer an account from Tradeking(don't ask why i want out of Tradeking!!) to OX, as JT with wife. I will see if the $100 referral bonus after the first trade, the up to $100 fee reimbursal, and the $100 account credit is stackable, as i referred myself. I set up a new email account for the new account by the way.
The 12-31 deadline is not much time. I would expect that this deal will be extended. I also think that you will probably get the credit if you initiate the account transfer by 12-31. (It states however something to the effect that the transfer must be completed by 12-31).
Will report back with the results!!
I'm getting a certificate error from my browser (IE7) with the address bar highlighted in red.
Never seen that before, should I be worried?
Thanks.
bkemp99 said:I'm getting a certificate error from my browser (IE7) with the address bar highlighted in red.
Never seen that before, should I be worried?
Thanks.
To answer my own question - went in with a fresh url: www.optionsxpress.com and confirmed with online chat that I would still be eligible for signup promo.
I do have a new question though. During the app process I was asked several id verificatiopn questions which clearly came from my credit report (previous address) etc. Does this mean they dis a hard pull? or is that not necessarily the case?
Thanks for your input.
bkemp99 said:During the app process I was asked several id verificatiopn questions which clearly came from my credit report (previous address) etc. Does this mean they dis a hard pull? or is that not necessarily the case?I had the same and no hard pull. No soft from Equifax, either. I can't see softs from Exp/TU.
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