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OptionsHouse 2.95 Trades - Any feedback? in: Subjects › Investing

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There are lots of threads about brokers but none really covering Option House. They have 2.95 Equity trades.

Anyone have any feedback on them?


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I switched to OptionsHouse from Scottrade.

I like them, though their price on options is higher than ThinkOrSwim...too high in my opinion.

They've been great for me, I'm paying a lot less than the $7 commissions I was at Scottrade. The only downside is a lot of changes to your account must be done via e-mail because there is no web interface for it.

I'll recommend OptionsHouse.


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can you withdraw money via ACH? you can NOT do that with Scottrade.


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I have OptionsHouse and also highly recommend them...i like them better then Fidelity or Schwab or Etrade (all of which i have previously been with)....Very nice trading platform..fast executions....responsive customer service both on the phone and e-mail.....and $2.95 trades for stocks and etfs..they also have dividend re-investment (by request)...

For your regular brokerage (non-ira) they even give you free access to Maxit...which tracks your buys and sells for cost basis purposes and even generates a schedule D for you each year (this is normally a pay extra premium feature)...And they have a good ACH transfer system for your linked outside accounts....

Message edited by: craig10x on 2009-03-25 00:53:10 CDT
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NewToFatWalletUser said:I switched to OptionsHouse from Scottrade.

I like them, though their price on options is higher than ThinkOrSwim...too high in my opinion.

They've been great for me, I'm paying a lot less than the $7 commissions I was at Scottrade. The only downside is a lot of changes to your account must be done via e-mail because there is no web interface for it.

I'll recommend OptionsHouse.

How is a flat rate of 9.95 per option trade more than a per contract price at thinkorswim? If you're trading more than 5 or 6 contracts, it's already more than optionshouse.


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craig10x said:I have OptionsHouse and also highly recommend them...i like them better then Fidelity or Schwab or Etrade (all of which i have previously been with)....Very nice trading platform..fast executions....responsive customer service both on the phone and e-mail.....and $2.95 trades for stocks and etfs..they also have dividend re-investment (by request)...

For your regular brokerage (non-ira) they even give you free access to Maxit...which tracks your buys and sells for cost basis purposes and even generates a schedule D for you each year (this is normally a pay extra premium feature)...And they have a good ACH transfer system for your linked outside accounts....

Hi Craig10x,
I just opened an account with OH. Can we use their ACH for free in both directions?
Thanks


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Hi! I think you will enjoy being with them...it is a really nice set-up
And to answer your question: yep..their ach transfers are free in both directions.....you can easily add external accounts and they send "test deposit links" to get them activated.....though when you want to remove a bank from your list, you would need to e-mail them to remove it.....
Their platform is really neat and very attractive looking...everything all on one main page....and i just love those $2.95 trades

Message edited by: craig10x on 2009-03-25 12:12:14 CDT
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Anyone have them for an IRA as well?


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welookgoodcom said:Anyone have them for an IRA as well?

I do..i have both the regular and ira accounts and use them for both...I really like the trading interface, customer service and $2.95 trades....


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Can someone with an account see if they have transaction downloads into Quicken? They are not listed in Quicken itself, but sometimes you are able to initiate a download from transaction history screen on the website and it gets linked.

If I am going to consolidate all my accounts I really need the transactions to download into Quicken..


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I'm guessing from the views of this thread Optionshouse is now the preferred place over Scottrade


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They appear to have prompt customer service, thats a big deal for anyone who has dealt with zecco.


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Is the execution as good as Scottrade?

From reading on the other thread it's better than Wells


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welookgoodcom said:Is the execution as good as Scottrade?

From reading on the other thread it's better than Wells

Yep...i bought an etf this morning..and the trade was executed in about three seconds....


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Do they let you have access to after hours trading?


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Ted1776 said:Do they let you have access to after hours trading?

No..when the market is closed, the trading stream is also closed....


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craig10x said:Ted1776 said:Do they let you have access to after hours trading?

No..when the market is closed, the trading stream is also closed....

bummer.....optionsxpress allows trading in the extended hours


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I looked around but could not find an answer to this: Is there a limitation to the option price on limit order ? For example, at TDW for option < 3.00, you can only specify your price in 5 cents increment. For option > 3.00, you can only specify your price in 10 cents increment.


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congtu said:Is there a limitation to the option price on limit order ?
It's set by the exchanges, and it's as you describe for the majority of tickers. The exceptions are the options on the tickers participating in the penny pricing pilot program. Those are priced in pennies below $3 and nickels above.


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