Charles Schwab (SCHW) acquired Optionsxpress in early 2011, and the company promised to enhance trading functionality for all Schwab.com users based on that merger. This past week, Schwab announced some major upgrades to the trading system for Schwab clients. What’s new for the average Schwab user? Let’s take a look.
- Redesigned Options Chains – Two of the most popular features in the Options Chains page were improved recently: the Build an Order tool and the contract information detail windows. The Build an Order tool has been updated to allow users to change options contract symbols from within to save time. The entire process of adding, changing, and viewing options in this tool has been simplified. In the contract information detail area, users can now view 52 week historical contract pricing as well as bid and ask sizes so you can see quote liquidity.
- Positions Page at Schwab Updated – The positions page has been enhanced to allow users to customize more features such as options positions grouped by strategy.
- All New Futures Hub – The new Futures Hub includes a Bloomberg newsfeed and daily futures educational information. More in-depth futures market research with quotes, charts, and contract specs.
- Enhancements to Schwab Mobile – Real-time trade notifications are now available. In addition, a Trade Calculator to show you potential profit and losses on trading strategies. Idea Hub also allows users to explore options trade ideas.
Schwab is letting clients know there is more to come to further enhance the trading experience of users. Three-legged and four-legged options trading capabilities and more options education information are just two of the key updates expected in the future.
These enhanced trading capabilities have been powered by Schwab’s merger with Optionsxpress, and StockBrokers.com will keep you up to date on all future enhancements.
In the StockBrokers.com 2014 Online Broker Review, Charles Schwab was named Best in Class for Platforms and Tools.
Below is a screenshot to give you an idea of one of the updates to the Schwab trading area.