Discount Brokers Options House Review

07/08/2011 19:40

At one time, the only people investing in the stock market were those who were already well off. They could afford to hire their own personal stock broker who would guide them and 7303.1 help them to make the most of their money. Discount brokers are available too though, which mean that just about anyone is able to invest if they so choose. Yes, even you! The only real downfall is that you'll need to know a little bit about what you're doing. Discount brokers don't give a full-fledged service that includes personal counseling and guidance as normal brokers do. But still, this is one way you can get started investing without much of a cost.
Options house
Option house is an online discount broker option available to traders new and seasoned. They charge a low commission when in comparison to many other online discount brokers. They offer a streamlined, professional trading platform and customer service 7003.1 that can hang in there with the best of them. Now, let us talk about its pros and cons.
Options house charges only a $2.95 fee, which is at 50 % discounted price against popular online discount brokers like Scottrade. It has also a web based trading platform, which acts more like standalone platforms. This platform is filled with a lot of functions. Options' house offers real time streaming quotes. They support ACH fund transfer. They provide interactive web 2.0 features like virtual account, which is used in practicing stocks and options trading. They offer a wide range of stock research tools to their customers. They have a great customer care and support department. They reimburse a full fee which is charged by any other broker while moving account to options' house. They also provide affiliate/referral program similar to first trade. You can 6302.1 get as much as $50 for referring a single friend! They also offer periodic promotional offers.
Cons They have a requirement of minimum balance for opening an account. 1000 $ minimum balance is required, which is very high when compared to other online discount brokers. In an options' account application form has to be submitted before you can activate your account. You can't use the real-time quote before making $1000 deposit. You cannot change your account information (such as your address or phone number), which is a major drawback. You cannot reinvest dividends.
Verdict: It has more features at less price, but be aware of some serious drawbacks.