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Broker Reviews


Published by
On Tuesday, November 3rd, 2015


The uniting of OptionsHouse and TradeMONSTER is a fantastic marriage for current and new clients. The tradeMONSTER platform is top notch and commission rates are extremely competitive.


No trade alert functionality on mobile; few studies available for charting; weak education offering.

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OptionsHouse Review

In May 2014, it was announced that OptionsHouse and tradeMONSTER would be coming together under one roof. OptionsHouse was best known for its highly competitive commission rates, while tradeMONSTER was known for its terrific web-based options trading platform.

As details of the two brokers joining forces trickled out throughout the end of 2014 and early 2015, it became clear the combined brand would maintain these strengths. As we witness the merged companies operating under the OptionsHouse name with tradeMONSTER being the platform, we couldn’t be more excited for OptionsHouse’s future in 2015 and beyond.

Commissions & Fees

Under the new combined entity, all stock trades are a flat rate of $4.95 per trade and options trades are just $4.95 + $.50 per contract. This flat-rate commission structure is significantly less expensive than all the big brokers, such as TD Ameritrade, ETRADE, Scottrade, etc.

In fact, when you break these rates down against the entire industry, OptionsHouse finishes #2 overall, behind only Interactive Brokers. For equities and options traders this is a seriously competitive commission structure that cannot be overlooked. What we also deeply appreciate is that OptionsHouse’s structure is clean cut with little or no gimmicks or special-case scenarios that can ramp up costs in a hurry. No platform fees or data fees either – the rates are all inclusive.

OptionsHouseTradeKingInteractive BrokersJust2Trade
Stock Trade Fee (flat)$4.95$4.95N/A$2.50
Stock Trade Fee (per share)N/AN/A$0.005N/A
Mutual Fund Trade Fee$20.00$9.95$14.95$2.50
Options Base Fee$4.95$4.95$0.00$2.50
Options Per Contract Fee$0.50$0.65$0.70$0.50
Broker Assisted Trades Fee$25.00$20.00$30.00$2.50
Commissions & Fees

Lastly, it should be noted that at the time of this Review’s publication, some of OptionsHouse’s miscellaneous fees still needed finalizing. These fees included wire fees, paper statement fees, and the like. As soon as this data becomes available, we will be updating these miscellaneous commission notes accordingly. For now, however, we are displaying the rates OptionsHouse used prior to the merger.

Platforms & Tools, Research

When it comes to powerful platforms for trading options, tradeMONSTER competes with the best in the industry. Built as a web-based platform, tradeMONSTER innovates and delivers speed, quality, ease of use, and the tools needed for options traders to succeed. For these reasons, it is no surprise OptionsHouse decided to shut down its own platform, OptionsHouse 2.0, and switch to tradeMONSTER entirely.

TradeMONSTER offers both virtual trading and regular trading. For newer investors, there isn't a better platform on which to learn how to trade. Pulling up quotes is a breeze, and tradeMONSTER simplifies the user experience by displaying only three menu options: Trading, Markets, and Account. Hovering over these menu options will reveal their sub-menus, all of which are also clear and well organized.

On the right sidebar of the Quote screen is tradeMONSTER’s take on Research, including the tradeMONSTER Relative Ranking, alongside a breakdown of company information and fundamentals. Instead of providing everything under the sun, the broker offers its own Fundamental Report Cards for each stock that, in most cases, includes letter-relative ratings. While I applaud the tradeMONSTER platform team for thinking outside the box, I found the data difficult to interpret, especially after using the research areas of the big full-service brokers, such as Fidelity, Charles Schwab, TD Ameritrade, and ETRADE.

optionsHouse tradeMONSTER fundamental research

When it comes to tradeMONSTER’s streaming charts, the functionality is intuitive and easy to modify once you get the hang of the menu options. Also on the plus side, it is easy to place a trade from the chart by simply double clicking anywhere on the chart to have an order pre-populated. The one major drawback to the charting is with the technical depth: the number of studies (34) is limiting and the customizations available for each are basic. Back to the plus side, one of our favorite features is being able to view our past buys and sells right on the chart.

optionsHouse tradeMONSTER charting

Moving onto options capabilities, tradeMONSTER really begins to stand out. The option chain screen displays a fully customizable streaming real-time option chain with 30 different optional columns and every greek.

Once you find an option of interest, clicking it pops open tradeMONSTER’s summary window, which includes key metrics alongside different quick links for further analysis. Click Analyze and the tradeLAB Snapshot Analysis pops open. Not only is Risk/Reward completely broken down with simple similes to translate the pros and cons, but key events to watch out for are displayed alongside a P&L chart. It’s a work of art.

optionsHouse tradeMONSTER tradeLAB

If that isn’t good enough, tradeMONSTER then provides a Spectral Analysis, which includes all data needed to make an informed decision. My favorite feature on this tab is Risk Metrics, which displays the option greeks. Since not all investors understand the greeks, tradeMONSTER has a simple pull-down menu to change from "Greek" to "English," making the data user-friendly for new investors. Awesome.

Once you have finished analyzing, you can quickly import the data into a fresh trade ticket, use the trade calculator to find the right position size, add optional notes, and then place the trade. (Note: This intuitiveness with design and UI continues beyond researching and placing trades. All live positions are completely customizable. TradeMONSTER automatically groups options into spreads for you, then allows you to completely regroup them and customize them to your liking using a simple drag-and-drop interface.)

Even with all these capabilities, the highlight for options remains the strategySEEK tool which is where you will find the platform’s option screener. strategySEEK is hands down the best options scanner in the industry. First, you forecast the price at which you think the stock might end up down the road. Next, you drag and drop to set and order your priorities for the trade: Profit, Return, Probability, and Safety. Lastly, you click “Show Strategies” for a list of the best possible matches. From here, you can create an order and place the trade, analyze the trade (see above), or adjust the scanner and rerun.

It isn’t just the interface that makes strategySEEK impressive, it’s also the data and the behind-the- scenes calculations taking place to power the tool’s recommendations. The tradeMONSTER platform calculates EVERY possibility, millions of them, using a plethora of data, and displays results in milliseconds. This attention to detail is also seen throughout the rest of the platform.

optionsHouse tradeMONSTER option strategy scanner

All in all, the arsenal of tools available to options traders is truly impressive. TradeMONSTER has a clear understanding of what options traders want, and delivers it in stunning fashion. And, while the platform is not built for chart enthusiasts, there is still a variety of tools equity traders can appreciate like the LiveAction scanner.

So is tradeMONSTER the best platform available today? When we looked at our 52 variables in the Platforms & Tools category, tradeMONSTER did not finish at the top. The platform is missing additional pieces, such as advanced trade alerts, depth of optional columns for its watch lists, cost basis customization functionality for open orders, and more. That said, when it comes to browser-based platforms, options trading, and ease of use for new investors, tradeMONSTER is king.

Mobile Trading

With the combined company, the tradeMONSTER mobile app was easily the superior product, and thus this is what OptionsHouse is providing clients moving forward.

In 2013, tradeMONSTER released a brand-new mobile apps suite. Taking a completely different direction from the normal native development route, tradeMONSTER opted for a full HTML 5 design in a native wrapper. In summary, it took more than a year to build and is at the forefront of development standards.

While we found the new app to be a little sluggish after its release, we’ve seen positive improvements since, especially throughout 2014. During testing for our 2015 Review, we found no delays. Logging in and jumping between tools revealed no speed differences against a fully native application.

Looking at features, on the pros side, the app has a lot of the strong core functionality traders desire: real-time streaming quotes, synced watch lists, the ability to place basic and complex options orders alongside a variety of equity order types, and more. The broker has also tied in some creative elements, such as designing a customizable home screen to include visual pricing.

On the cons side, the app’s biggest drawback is its lack of stock alerts functionality. Want to receive a push notification alert when Apple (AAPL) stock hits new highs? Unfortunately, this is not currently possible. Also, the depth of charting is slightly below the industry average, as only 13 technical studies are supported.

All data considered, the app has a very solid foundation and is built with the future in mind. OptionsHouse, through its tradeMONSTER app, has proven that HTML 5 in a native wrapper can match the speeds of a full native experience and provide deep functionality.

Other Notes

Since the transition was still in progress during our customer-service testing, we tested both OptionsHouse’s and TradeMONSTER’s customer support independently. We then merged all data to derive official scores for the combined entity. On the whole, the broker did ok, but certainly was in the lower half of the pack. We suspect the merger played a huge role in this, and, overall, we feel a fair baseline for the new combined company will come during our testing for the 2016 Review.

Final Thoughts

The combination of OptionsHouse and tradeMONSTER is a huge win for clients. Highly competitive commission rates, alongside a fantastic trading platform, make for a very compelling offering.

The broker still has some work to do as far as hashing out its customer service, helping OptionsHouse become acquainted with the tradeMONSTER platform, and updating its website to reflect the revised brand image. That said, we are excited to see how everything rolls together in 2015 and couldn’t be more bullish about OptionsHouse’s future.

The content portion of this Review was completed on February 17th, 2015.

Blain Reinkensmeyer

Reviewed by

Blain has been involved in the markets for over 13 years, heading equity broker research and reviews. His personal blog,, provides to-the-point daily market recaps to over 17,000 subscribers.

Compare OptionsHouse

OptionsHouse Ratings

Commissions & Fees
Customer Service
Platforms & Tools
Ease of Use
Offering of Investments
Mobile Trading

Best in Class

Best in Class - Offering of Investments
Yes Best in Class - Commissions & Fees
Best in Class - Platforms & Tools
Best in Class - Research
Best in Class - Customer Service
Best in Class - Ease of Use
Best in Class - Investor Education
Best in Class - Mobile Trading
Yes Best in Class - Active Trading
Yes Best in Class - Options Trading
Best in Class - New Investors

OptionsHouse Awards


OptionsHouse took #5 Overall and was awarded Best in Class for Commissions & Fees, Mobile Trading, Active Trading, Options Trading, and New Investors. tradeMONSTER by OptionsHouse took #1 Web Based Platform. Read the 2015 Online Broker Review.


OptionsHouse was awarded Best in Class for Commissions & Fees, Active Trading, and Options Trading. Read the 2014 Online Broker Review.


OptionsHouse finished #1 for Options Trading and #4 for Active Trading, was rated 4.5 stars for Commissions & Fees as well as Ease of Use. Read the 2013 Broker Review.


OptionsHouse was Best in Class for Commissions & Fees, Ease-of-Use, and Options Trading. Read the 2012 Broker Review.

Commission Notes

OptionsHouse is an online broker with fairly straight forward commission offerings.

Stock Trades - OptionsHouse's flat rate stock trade commissions of $4.95 are among the lowest of any current online broker. For stocks under $1 add $.0005 per share. The $4.95 rate applies to any sized order up to 50,000 shares. If over 50,000 shares then the order will be split into two or more and an added $4.95 commission will be charged for each 50,000 shares.

Options Trades - $4.95 + $.50 per contract. There is an additional $5.00 fee for each exercise or assignment in a given position. If trading options in SPX, VIX and OEX amongst several others, there is an additional fee of $.35 per contract to offset exchange fees.

Other Investment Types - Mutual fund trades for $20 per trade. OptionsHouse also offers futures trading.

Trade Commissions Breakdown

$4.95 Stock Trade Fee (flat)*
N/A Stock Trade Fee (per share)*
$4.95 Options Base Fee*
$0.50 Options Per Contract Fee*
$4.95 Options Exercise Fee
$4.95 Options Assignment Fee
$20.00 Mutual Fund Trade Fee
$25.00 Broker Assisted Trades Fee
$0.00 Minimum Deposit

Margin Rates

6.25% Under $24,999.99
5.75% $25,000.00 to 49,999.99
5.00% $50,000.00 to $99,999.99
4.50% $100,000.00 to $249,999.99
3.75% $250,000.00 to $499,999.99
3.00% $500,000.00 to $999,999.99
1.75% Above $1,000,000.00

Miscellaneous Fees

$15.00 Bond Trade Fee
$15.00 Treasury Trade Fee
$0.00 CD Trade Fee
$0.00 IVR Trade Fee
$0.00 IRA Annual Fee
$60.00 IRA Closure FEe
$0.00 Forced Margin Sellout Fee
$30.00 Returned ACH Fee
$30.00 Returned Wire Fee
$75.00 Stock Certificate Processing Fee
$235.00 Stock Certificate Delivery Fee
$2.00 Paper Statement Fee
$0.00 Paper Confirmation Fee
$25.00 Domestic Wire Fee
$50.00 International Wire Fee

Offering of Investments

Yes Bonds (Corporate)
Yes Bonds (Municipal)
Yes Bonds (US Treasury)
Yes CDs
Apex Clearing Clearing Firm
0 Commission Free ETFs
Yes Direct Market Routing - Stocks
Direct Market Routing - Options
4000 # of Easy to Borrow Stocks
Forex Trading
Yes Futures Trading
Yes No Fee IRAs
Yes Mutual Funds
8500 Mutual Funds (Load)
4500 Mutual Funds (No Load)
500 Mutual Funds (NTF)
13000 Mutual Funds (Total)
Yes Mutual Funds Phone Trades
Yes Mutual Funds Web Trades
Yes No Inactivity Fees
No Minimum Deposit
Yes Options Exercising (Phone)
Yes Options Exercising (Web)
Yes Options Trading
Yes Options Trading (Mini)
Yes Options Trading (Weekly)
Yes OTCBB / Pink Sheets
Yes Stock Trading

Customer Service

Yes Phone Support
Yes Email Support
Yes Live Chat (Current Clients)
24/7 Support

Platforms & Tools

Desktop Platform (Windows)
Desktop Platform (Mac)
Yes Web Platform
tradeMONSTER Active Trading Platform
Yes Auto Investing
Yes Charting - Display Corporate Events
9 Charting - Drawing Tools
Yes Charting - Notes
Heat Mapping
Ladder Trading
Yes Level 2 Quotes - Stocks
Yes Level 2 Quotes - Options
Yes Option Chains - Streaming Real-time
Yes Option Analysis - P&L Charts
Yes Stock Alerts Delivery - Email
Yes Stock Alerts Delivery - Sound
Yes Stock Alerts Delivery - Text SMS
Yes Streaming Time & Sales
Streaming TV
Yes Trade Hot Keys
Yes Virtual Trading
Yes Watchlists - Streaming Real-time Quotes


Yes Research - ETFs
Yes Research - Mutual Funds
Yes Research - Pink Sheets / OTCBB
Yes Research - Fixed Income
0 Equity Research - Research Reports
Yes ETF Research - Top 10 Holdings
ETF Research - Morningstar Style Box
ETF Research - Research Reports
Mutual Fund Research - Research Reports
Mutual Fund Research - Fees Breakdown
Mutual Fund Research - Performance Analysis
Yes Mutual Fund Research - Top 10 Holdings
Yes Screener - Stocks
Yes Screener - ETFs
Yes Screener - Mutual Funds
Yes Screener - Options
Yes Screener - Bonds


Yes Has Education - Stocks
Has Education - ETFs
Yes Has Education - Options
Has Education - Mutual Funds
Has Education - Bonds
Has Education - Retirement
Yes Investor Dictionary
Yes Client Webinars
Yes Live Seminars
Retirement Calculator
Community Forums

Mobile Trading

Yes iPhone App
Yes iPad App
Yes Android App
Yes Android Tablet App
Yes Mobile Site
Yes Quotes (Real-time)
Yes Quotes (Streaming Real-time)
Yes Watch List Syncing
Yes Market Movers (Top Gainers)
Stock Alerts Delivery - Push Notifications
Yes Customizable Homescreen
Stream Live TV
Yes Trading - Stocks
Yes Trading - Stocks (After-Hours)
Yes Trading - Simple Options
Yes Trading - Complex Options


Checking Accounts
Savings Accounts
Debit Cards
Credit Cards
Mortgage Loans
Mobile Check Deposit
ATM Fee Reimbursement
No Fee Banking
0 Retail Locations

Active Trading

Yes Receives Payment for Order Flow
Client Liquidity Rebates

All pricing data was obtained from a published web site as of 5/01/2015 and is believed to be accurate, but is not guaranteed. The staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the top of this page. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply. Square Logo