† 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.
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*
******************** 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.
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?
krk206s
Thrifty Member
posted: Dec. 15, 2007 @ 11:03p
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.
playcentric
New Member
posted: Dec. 16, 2007 @ 9:58a
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.
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).
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?
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.
teammjs said: they certainly don't seem to make their website very navigable. here are 3 questions i can't seem to get definitive answers to:
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).
If you chose the Xpress Fund sweep option then the 7 day avg. yield is 3.81%
I signed myself up in about 5 minutes. I'm going to sign my wife up tomorrow. I couldn't find a disclaimer indicating one/hh.
glxpass
Senior Member - 5K
posted: Dec. 17, 2007 @ 10:51p
bkemp99 said: 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. According to an article I read, all banks are required by the Patriot Act to use CIP (Customer Identification Programs) to confirm your identity. These programs compare your name, address, birthdate, and other information from your credit report to what you've given in your application. It isn't a hard credit inquiry, although some banks for deposit accounts will do a hard inquiry anyway in order to see a deeper view of your credit report. Here are some details about Customer Identification Programs.
DreamKrusher said: If you chose the Xpress Fund sweep option then the 7 day avg. yield is 3.81%From the optionsXpress Money Market FAQ:
Interest rates paid to you on eligible balances in the Xpress Fund, Daily Tax Free Income Fund and Daily Income Fund - Institutional Class may be based on tiers and may require that you maintain a certain minimum balances[1] to receive payment of interest.
[1]Accounts must maintain a minimum balance of $5000 in sweep-eligible funds in order to sweep or remain in the money market sweep products.
I agree. They initiated the $500 ACH from my Etrade Account.
I am thinking ahead to January 10, when it's time to pull the $600 out of optionsxpress. I wanted to do an ACH pull initiated from my Etrade account.
I use Etrade for most of my ACH pulls/pushes for these bonuses as you can usually setup/verify a linked account instantly without the need to wait/verify trial deposits.
Addionally, Etrade has a high limit on linked accounts. I'm up to 15 linked accounts so far and they haven't denied me yet. (I spoke to soon...I'm max'd out. When I went to setup my 16th linked account it said I hit my lifetime limit.)
They're pretty good 90% positive. Looks like support is good, but commissions are pretty high. Thinkorswim looks better.
Does anyone know if you can ACH pull from OptionsXpress? Or is there a way to get your money out without the $15 fee?
Maybe we should start a PM referral chain for those who are definitely in. For $200 (-30 commission) I would jump... For $85, a hard pull, transfers just doesn't seem worth it for me.
ACH (Automated Clearing House) Why ACH? It's free, secure, fast (once you've established the service), and can be used to electronically transfer funds into and out of your optionsXpress account. ACH allows transfers between your domestic checking or money market account and your optionsXpress account with just a few clicks of your mouse. There's no need to call your bank, fill out a deposit envelope, or even get out of your chair! Funds generally take only 1 - 2 business days to be received.
So how do I get started?
Once your account is set up, click on the "Establish ACH Now" button to the left, and a popup window will open. You'll need to fill out some information about your bank name and routing number and then submit to us for the setup. Then we'll send you an e-mail detailing the remaining steps you need to take to complete the process. Please note: optionsXpress only allows you to set up ACH with bank accounts that share the same registration name.
Sounds Great, Why Would I Use Anything Else? ACH can be set up only once your new account is fully established. In addition, once we receive your request it may take a few days for ACH to be established. A check sent with your initial paperwork, or a wire sent after your account is set up may be faster for the first funding of the account.
kittenmittens
Frivolous Member
posted: Dec. 19, 2007 @ 2:07p
cashmonkey said: 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.I got public records type questions so it might not be from any credit report.
davetd02
New Member
posted: Dec. 19, 2007 @ 4:00p
JTFH said: Does anyone know if you can ACH pull from OptionsXpress? Or is there a way to get your money out without the $15 fee? Looks like the $15 fee only applies to outgoing wire transfers, not ACH transfers. Wire is through a separate manual system than is ACH. See the "No Hidden Fees" page:
We DO NOT charge:
...
- For standard withdrawals or deposits
From http://www.optionsxpress.com/welcome/no_hidden_fees.aspx (not sure if we should linkify or not)
EDITED: sorry, my comment on the referral program was apparently misconstrued by the moderator; I did not link and never would
DreamKrusher said: teammjs said: they certainly don't seem to make their website very navigable. here are 3 questions i can't seem to get definitive answers to:
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).
If you chose the Xpress Fund sweep option then the 7 day avg. yield is 3.81%
I signed myself up in about 5 minutes. I'm going to sign my wife up tomorrow. I couldn't find a disclaimer indicating one/hh.
I just signed the missus up as well. I'm going to refer the kids' emails now and then sign them up as custodial accounts. Nothing to lose and a potential $700 smackers to gain (2 kids with 3 referrals) - fingers crossed for a good result on this one!
playcentric
New Member
posted: Dec. 19, 2007 @ 4:36p
Not sure if the person gets referred can also get the $100 bonus
TheFeatureCreep
New Member
posted: Dec. 19, 2007 @ 10:01p
Anyone know if they permit funding with a credit card at account opening?
Be careful when linking with a savings account. They don't do two trial deposits like most places, they do a trial deposit AND a trial withdrawl, which can count against your 6 withdrawl/monthl limit (and some savings accounts, like GMAC, only allow 3 ACH withdrawls a month).
Much better to mail a check. They will provide a free prepaid FedEx overnight mailing label.
They have a nice credit card deal too, 12 month 0% BTs and Purchases, BT fees capped at $75. Purchases have a 1% rewards, redeemable in $15 chunks to the OptionsXpress Account.
Unforunately, its a FirstUSA/Chase card, and they just banished my ass.
Applying for 2 biz and 2 pers cards within 2 months for the travel bennies apparently upset them. I also hit them up for a biz and person card last summer for an AOR.
After you log in, go to Account->Transfer Funds->Rewards
SweetCash
Senior Member
posted: Dec. 20, 2007 @ 9:44p
mrlandlord said: 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!! There are about 10 more days until Dec. 31. Do you think it will not be enough time just to open an account and pull $500 to get the basic $100 bonus?
SweetCash said: Do you think it will not be enough time just to open an account and pull $500 to get the basic $100 bonus? Applied Dec 18 Mailed $500 check Dec 19 (Fedex Priority Overnight) Funds receipt notification Dec 20
Skipping 128 Messages...
xCarsonx
Senior Member
posted: Jan. 27, 2009 @ 10:06a
Has anyone successfully received the bonus after optionsXpress denied the bonus up front. I was told that the person who referred me abused the bonus so could not receive it. Instead I would get 10 free trades. I really just want to be done with this horrible company. Any Ideas?
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