Ratings

Overall
Commissions & Fees
Customer Service
Platform & Tools
Research
Ease of Use
Investment Offering
Education
Mobile Trading

Trade Commissions

Equity Trades*	$8.95
Options Fee*	$0.00
Options Contract*	$1.50
Mutual Fund	$9.95
Broker Assisted*	$8.95
Minimum Deposit	$0.00

Highlights

Account Features

Virtual Trading
No Minimum Deposit
No Maintenance Fees
No-Fee IRAs
Online Trader Community
Investment Education

OptionsXpress Review

Broker Review

Special Offer: $100 Cash - Learn More

Likes - Variety of tools for options traders; strong mobile trading platform; updated site navigation Q1 2010.

Dislikes - Expensive commissions for both stocks and options.

Bottom Line - optionsXpress offers a overall rounded trade platform for both trading online and on the go but remains one of the most expensive discount brokers for trading stocks and options.

2012 Review Results - optionsXpress was #3 overall with 5 stars and received Best in Class for Platforms & Tools, Research, Investor Community, Investor Education, and Options Trading. Read the 2012 Broker Review.

optionsXpress was acquired by Charles Schwab in 2011.

Commission Notes

optionsXpress is an online broker with a more complex commissions structure. While known as one of the more pricey discount brokers, optionsXpress offers lower commissions rates for investors that trade more often on a per quarter basis. There are added fees though depending on the size of the order, amongst other situations. Details below.

Stock Trades - optionsXpress announced a new lower flat commission rate of $8.95 per trade for all clients on 11/29/11. There is no additional fee for broker assisted trades.

Options Trades - optionsXpress charges $1.50 per contract if under 35 options trades per quarter with a $14.95 minimum. Otherwise it is only $1.25 per contract with a $12.95 minimum. The broker does not charge a options base fee. Thus, based on the $1.50 per contract rate, a 5 contract order would cost $12.95 (the minimum) and a 20 contract purchase would cost $30.00 (20 x $1.50). Exercises and Assignments are an additional $9.95 for currently active options traders (see above for designation), and $14.95 for non-active options traders. To buy-to-close penny options (contracts under $.05), the rate is $4.95 + $.50 per contract.

Other Investments - optionsXpress also offers mutual funds, bonds, and futures trading. Mutual funds cost $9.95 per trade plus any additional loads or fees charged by the fund itself.

optionsXpress was reviewed by StockBrokers.com on 2012-02-27 with an overall rating of 5 Stars.

Ratings

Trade Commissions

Highlights

Account Features

Mobile Trading

Customer Service

Trade Types

Recommended For

OptionsXpress Review

Broker Review

Commission Notes

Trading Platform

optionsXpress Xtend Trading Platform

optionsXpress Mobile iPhone App

Compare optionsXpress