OptionsXpress Review

Broker Review

 

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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.

2011 Broker Review 4 Stars - Autotrading

2011 Review Results - optionsXpress was awarded most unique new trade tool 2010 (autotrading) and 4 stars overall. Read More.

optionsXpress 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. optionsXpress has great investment education resources and also provides a virtual trading platform for its traders.

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 2012-01-25 with an overall rating of 4 Stars.

Trading Platform

optionsXpress Xtend Trading Platform

optionsXpress Mobile iPhone App

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