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In. No photo ID required. Will it be a problem that none of us will have the account funded by tomorrow? Or that this promo can be canceled by OptionsXpress at any time for any reason? (Like the fact that they will be paying out hundreds of thousands. This thread needs to be destroyed immediately!

Seriously though- how much are you guys funding with and when do you plan on executing your trade and WHAT will everyone be purchasing?

i am getting in it before it is over

do you select ( for bonus )

1) # Options or
# Futures

2) # Cash (No minimum deposit required) Only Cash/Margin Accounts can trade options
# Cash/Margin
?

trading cost is $14.95 if you trade 0-8 Trades/Quarter!!

"if you are employed by a FINRA member please contact your Compliance officer"... damn it!

I did not have a chance to input the amount of initial deposit $500? Did I miss it or there wasn't such an option during the application process? Also I didn't see such a requirement as "fund your $500 by 11/30".

DreamSun said: I did not have a chance to input the amount of initial deposit $500? Did I miss it or there wasn't such an option during the application process? Also I didn't see such a requirement as "fund your $500 by 11/30".
no option when you open the account . one the ACH ( if you use that ) is set up you can xfer that as your first deposit . did you use ACH option ? . it took me almost 30 min to finish it . i think the offer says you must maintain $500 average balance for 6 months

manuvns said: DreamSun said: I did not have a chance to input the amount of initial deposit $500? Did I miss it or there wasn't such an option during the application process? Also I didn't see such a requirement as "fund your $500 by 11/30".
no option when you open the account . one the ACH ( if you use that ) is set up you can xfer that as your first deposit . did you use ACH option ? . it took me almost 30 min to finish it . i think the offer says you must maintain $500 average balance for 6 months


Yep, ACH. Just a couple steps: routing number and checking number and sign name. Like 3 minutes or so.

What do they mean by "Customers can not exchange the $500 for other offers, cash or credit“?

I did not choose "sweep to FDIC money market". What will happen in this case? If it is better to choose this, how can I alter it later on?

Where do you people see the requirement to fund the acct by Nov 30?
I don't think they expect new customers to maintain average $500 for November as well, yet this is a potential catch.
Shallot, when did you receive this offer?

In for one. The deal is too good in nowadays. The process was pretty straightforward and didn't take long. Hopefully will see the bonus in May. :-P

what is the cheapest stock I can buy to satisfy the one trade requirement? is it possible to buy $.01 of a company and fulfill the offer?

Now THIS is why I love FatWallet!
I was going to open an account on Monday anyway, so this info was absolutely golden.
I'm gettin' paid $500 just to open the account one day earlier than I planned to.
Thanks, OP!!

BTW: If you don't get the option of verifying your identity with questions, and are forced to fax ID, it's most likely because your credit report did not contain sufficient data for them to pose the necessary number of unique ID-confirming questions.

how much money do you guys plan to put in?

$500 + $14.95 + price of 1 share of GM or C or F + a little extra change

$530 tops


is it too late to open this account??

well like many I will be required to submit photo ID and verify deposits for ACH transfer, that stuff will certainly not be done with until after 11/30, hopefully that will still qualify for the promo :-/.

edit: I'm nervous, seems too good to be true...

Hardware411 said: is it too late to open this account??

If the promo page loads correctly for you -- not late (everyone is in more or less the same boat at least).

+ About funding -- there is an option to fund by check, which could be faster. I doubt they'll apply your check on Sunday anyway, so should not really matter.
+ I have not received any messages about my ineligibility based on already having acct with them.

+ Out of curiosity -- any opinions on whether it's better to agree 6 times with various conditions they put forward to get real-time quotes, or not to bother and request delayed quotes only (with no agreements to sign)? What are pluses and minuses? Assuming I am interested in bonus mainly, and don't foresee any trading for its own sake, just 1 required penny trade

viptext said: What do they mean by "Customers can not exchange the $500 for other offers, cash or credit“?

I'm curious about this as well. I hope it doesn't mean that $500 is fake money that only works for commission use on the site or something.

Got this error when I tried to do ACH: Please contact the optionsXpress Cashiering department regarding your transfer request.

Hope I can get the deal!

Witold said: viptext said: What do they mean by "Customers can not exchange the $500 for other offers, cash or credit“?

I'm curious about this as well. I hope it doesn't mean that $500 is fake money that only works for commission use on the site or something.


^ I third.

Here's a link without any referrral code embedded in:

http://www.optionsxpress.com/promos/500_reasons.aspx

how legit is this company? Probability they will crash before MAY (i.e. take our money and run)?

This company is legit.
There was a thread in here last year DECEMBER for OptionsXpress $100 bonus with $500 deposit. I've been a customer of OptionsXpress customer ever since.
I just read the terms. There seems to be no limitations for existing customers, so i might be in again

Yes, I remember they were excellent and quick about paying the $100 bonus last time. Hopefully they are as good this time, as this is a much hotter bonus. In for 1.

lray said: how legit is this company? Probability they will crash before MAY (i.e. take our money and run)?
link, they've been publicly traded for 3 1/2 years, so they're not totally fly by night. But you could say the same about some big banks that went under this year too.

I got the ACH: Please contact the optionsXpress Cashiering department regarding your transfer request.

Anybody knows how long it would take to set up the ACH transfer?

optionsXpress is more stable than etrade was. But by May, who knows, maybe too many $500 payments will trigger bad events. It's not too big for bankruptcy.

sportsfan33 said: Here's a link without any referrral code embedded in:

http://www.optionsxpress.com/promos/500_reasons.aspx


Can anyone come up with DIFFERENCE between the two kinds of opening link? Like possibility of Refer-a-Friend?

I was able to complete the process using the "answer a few questions" option and am now just waiting for the ACH trial deposits. But I also saw the exchange provision and am skeptical that we will receive $500 cash. Still, I guess it's worth a try. Thanks, OP!

Milko said: Witold said: viptext said: What do they mean by "Customers can not exchange the $500 for other offers, cash or credit“?

I'm curious about this as well. I hope it doesn't mean that $500 is fake money that only works for commission use on the site or something.


^ I third.


Yes, condition may be read to mean that. I would not view current offer as a straight ($500-14.95) cash-out. Upon getting $500 bonus, I'd buy stock or redeemable instrument (bond?). Also, the entire account can be transferred with all assets in it - if the receiving broker offers to cover transfer fee

flyingtwopigs said: $500 + $14.95 + price of 1 share of GM or C or F + a little extra change

$530 tops



Can you place a trade under a CASH only account? Is it possible to switch from CASH to CASH/Margin account?
The ad specifically states you have to place a trade. How does it work? Anyone, please.

pyro123 said: flyingtwopigs said: $500 + $14.95 + price of 1 share of GM or C or F + a little extra change

$530 tops



Can you place a trade under a CASH only account? Is it possible to switch from CASH to CASH/Margin account?
The ad specifically states you have to place a trade. How does it work? Anyone, please.


Yes, you can trade under a cash account. If you are new to trading, stick with the cash account.

sportsfan33 said: Here's a link without any referrral code embedded in:

http://www.optionsxpress.com/promos/500_reasons.aspx


There is no referral code in the original. Look at it and them compare it to the link in the fine print of the one you posted.

"Customers can not exchange the $500 for other offers, cash or credit."

Optionxpress puts this in their offers so people can't offer jump if they find a better past/future.

In my opinion, the trickiest part of this offer is the "...per account average balance of $500 must be maintained for 6 months"

When does the 6 months averaging period begin and end? Especially since they are paying out the bonus on 5/15/09.

When you login to your account, there's a link to print a free Fedex overnight mailing label to send your signature page and check. So don't miss out on that.

Just as data point: I did not get a hard inquiry for opening a cash only account. Just as otherwise reported here.

RootGears said: When you login to your account, there's a link to print a free Fedex overnight mailing label to send your signature page and check. So don't miss out on that.

Can you point to where this link is? Maybe it too early in the morning for me.

I don't know if you can do this if you already have an account with them under the $100 bonus that they did last year....

"A customer can only qualify for the $500 bonus a total of one time."

RootGears said: When you login to your account, there's a link to print a free Fedex overnight mailing label to send your signature page and check. So don't miss out on that.

It seems like for ACH, "optionsXpress will initiate two small transactions into your account. If this is a new optionsXpress account, the transactions will not be sent until you have received an account number and you are enabled for trading." So after they receive the documents, then assign acct #, then send trial deposits, and then you can fund the acct .... so we are several days away from actually funding the acct.

HomoSapiens said:
+ Out of curiosity -- any opinions on whether it's better to agree 6 times with various conditions they put forward to get real-time quotes, or not to bother and request delayed quotes only (with no agreements to sign)? What are pluses and minuses? Assuming I am interested in bonus mainly, and don't foresee any trading for its own sake, just 1 required penny trade


Yes wondered about that but agreed 6 times for real quotes. About the penny transaction, it just says "account must trade atleast once" (in six months) so those worried about maintaining balance requirements, the trade could probably wait until last month ?

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