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PROS:
CONS:
OptionsHouse is an excellent online stock trading platform that features an intuitive interface and a large knowledgebase for users of any proficiency. Their pricing is transparent and quite simple to understand. Upon sign up, you gain access to a demo account you can use to make “practice” transactions and perfect your strategies. With many unique features and tools, great design and accessibility, OptionsHouse is one of the best online trading platforms on the market today.
OptionsHouse is one of the best online stock trading solutions today. It operates with some of the lowest fees in our category. OptionsHouse changed ownership in 2016, but aside from the official purchase, not much has changed and the company kept operating on an independent platform. They offer a wide range of investment opportunities, low fees and an excellent multi-tool app that makes online stock trading very accessible.
Interface and Features
This trading platform is exquisitely designed and it offers many options you can utilize to fully customize OptionsHouse to fit your needs perfectly. Once you open the interface, you can start buying or selling within one click. Other options like using the trade menu as well as opening an order ticket are equally accessible. This online stock trading platform has a risky analyzer that shows detailed information on your current stats and it calculates any possible risks. Another very useful tool is a call spread investigator. If you wish to see how probable it is for any stock to reach its target price, you can check the probability calculator for these predictions. Similarly, the profit and loss calculator lets you try out different scenarios by giving you calculations on different parameters you choose. With 15 template strategies, you can use the preexisting charts and tools to test how a certain stock will perform. There are 35 different indicators you can use to adjust and develop your strategy. If at any point you wish to switch from one trading screen to another, OptionsHouse has one of the simplest navigation options among similar platforms. All four trading tabs can be open at the same time and you can easily switch between them by simply clicking on the one you wish to view. Although it offers an abundance of tools and features, the main interface is neatly designed so you can access any option within a click or two. The right side of the platform holds all other categories you might want to access like the news, hot list, charts and more.
OptionsHouse has one of the best online stock trading mobile apps in our review. Since it’s really well designed, it’s equally accessible by novice and professional users. You can set up alerts, monitor certain stocks or make trades. After you connect the app to a bank account, you can easily transfer funds between your account and the app.
Features:
OptionsHouse has one of the most competitive rates in our review of the best online stock trading platforms on the market. Opening an account is easy and free. Unlike with some other online brokering solutions we looked at, OptionsHouse doesn’t require a minimal balance upon opening an account, and it also comes without any hidden maintenance fees. Nevertheless, some accounts (like the margin account) still require a minimal balance of $2000 before you can start using your account. Although there isn’t an official requirement when it comes to cash accounts, the company advises you keep at least $1000 in your account at all times.
When it comes to per trade fees, OptionsHouse charges $4.95 for each trade you make plus the $0.50 contract fee. Over the course of our review, we found that the average per trade fee in the online stock trading category is $6.60, which makes OptionsHouse significantly more affordable than many other stock brokering solutions we looked at. For example, if you had ten options contracts, it would cost you just shy of $10, while the review average price for the same service was between $15 and $20. If you need to lend money from a broker the margin rates start at 8.00% interest (up to $25000), while the interest rate drops to 3.50% if you borrow more than a million dollars.
Phone number: 877.598.3190
Website: www.optionshouse.com
Support: www.optionshouse.com/faq
First steps are the hardest in any business, and this is true to online stock trading as well. If this is your first time using a trading platform you might find yourself with a small learning curve ahead. With OptionsHouse, overcoming any obstacle will be a matter of hours, not days. This online stock trading platform has one of the largest educational resources in our review. There are several dozen tutorials and videos you can use to learn the ropes of navigating the platform and making the most out of your experience. One feature that sets OptionsHouse apart from its competition is its virtual trading account you get upon signing up. This fake account gives you $5000 in a virtual currency that has no value, other than to serve you as a practice amount during trading on your demo account. With this feature you can get the feel of the right strategy you want to use when actually online trading, and you can also learn a lot of useful information about the app itself.
All educational materials are conveniently categorized by the level of proficiency needed to do a certain task so if you feel you’ve mastered a particular field, you can just switch to the next difficulty level. It’s also useful to know that, unlike many other similar sites, OptionsHouse’s help page guides you through every tool in offer. Know at least the basics of everything in offer means you’ll have more opportunities when you actually start trading. Also, if you require help with any feature while you’re using the platform, you can click the Quick Assist icon at any moment and get the information you were looking for.
Our editorial staff evaluates products and services independently, but Best Review Guide may earn money when you click on links. Read our advertising disclosure.
By: Matt | Last updated June 22, 2017 
