OptionsHouse Review

Broker Review

Likes - $3.95 flat fee trades; two flexible commission plans for options trading; backed by Peak 6 Investments; variety of useful tools for trading options.

Dislikes - Watchlist does not stream real time; stock charting capabilities are very basic.

Bottom Line - OptionsHouse delivers with ultra competitive commissions and quality trade tools for options traders.
 
OptionsHouse is an online broker that offers low cost options trades to its large client base of investors. Known for being a discount broker, they also provide low cost stock trades and other financial services for their customers. OptionsHouse was founded and created by PEAK6 Investments based in the Chicago, IL area.

Commission Notes

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

Stock Trades - OptionsHouse's flat rate stock trade commissions of $3.95 are amongst the cheapest of any current online broker. If trading stocks under $2.00 though that do not have options, an additional $.005 per share will be charged. This same $.005 per share rate is also applied to any OTCBB (pink sheet) stocks. The $3.95 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 $3.95 commission will be charged for each 50,000 shares. There are no additional fees if the stock is over $2 or if it is traded during pre (before 9:30 AM EST) or post (after 4:00 PM EST) market hours.

Options Trades - OptionsHouse utilizes two different commission plans for options trades. The first is a plan is designed for less active investors, costing $5 for up to 5 contracts. There is a $1 additional fee per contract for any sized order over 5 contracts. The second plan revolves around a $8.50 base rate with a $.15 per contract charge. Active investors will find this second plan to be very appealing due to its low per contract charge. 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.

Previously, OptionsHouse used to charge a simple $9.95 flat rate for unlimited contracts. This was discontinued to give less active investors a more competitive rate. Lastly, it should be noted that StockBrokers.com publicly displays the $8.50 + $.15 per contract plan throughout the site. This offers better flexibility for visitors utilizing the trade cost calculator.

Other Investment Types - OptionsHouse also offers mutual fund trades for $9.95 per trade. Note though all mutual fund trades must be placed with a trade specialist via phone and cannot be made through the platform. There is no additional fee for this service.

OptionsHouse was reviewed by StockBrokers.com on 2012-02-27 with an overall rating of 3 Stars.

Trade Platform

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