OptionsXpress Review and Comparison

OptionsXpress is a well-established online brokerage firm that offers a range of services for traders and investors.

With a history dating back to 2001, OptionsXpress has built a reputation for reliability and customer satisfaction.

The company offers a variety of trading platforms, including a web-based platform and mobile apps for iOS and Android devices.

OptionsXpress charges competitive fees for its services, with a flat fee of $9.95 per trade for stocks, options, and ETFs.

OptionsXpress is an online investing platform that lets you trade stocks, options, and futures from anywhere with an internet connection.

Options are a type of financial instrument that allows you to buy or sell a security at a predetermined price.

You can trade stocks, options, and futures on OptionsXpress, giving you a wide range of investment opportunities.

Options give you the right, but not the obligation, to buy or sell a security at a specified price before a certain date.

By trading options on OptionsXpress, you can potentially earn higher returns than with traditional stock investing.

OptionsXpress has a way to rate its performance and customer experience, using real user data to summarize its product performance.

This rating system is called OptionsXpress Ratings, and it's based on current data that may differ from data in reports and awards, which express data as of their publication date.

OptionsXpress Reviews highlight what differentiates the product from others, but also mention that it might be too complex for beginners to set up.

Product scores are listed in the OptionsXpress Ratings, but the exact scores are not specified in the provided text.

OptionsXpress Reviews mention that the product has great features, which is a positive aspect of the product.

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The trading platform at OptionsXpress is available within your web browser or as a downloadable software application, with most users preferring the web-based option for its ease of use and responsiveness.

The platform features some of the best trading tools in the industry, including the "Walk Limit" tool that helps prevent the hassle of adjusting spread orders and the "Idea Hub" that assists in finding ideas for potential trades.

OptionsXpress provides a number of innovative tools that you won’t find anywhere else, such as the options chains tool, which allows you to view quotes in real time for each leg of a wide range of different options strategies.

The "All In One Trade Ticket" is widely regarded as the best order placement tool in the industry, and the "StrategyScan" tool helps you identify a trading strategy that suits your personal goals and attitude to risk.

The platform is also mobile compatible, which is useful for those wishing to trade using a smartphone or other mobile device.

The trading platform at OptionsXpress is called Xtend and is available within your web browser or as a downloadable software application. Most users prefer the web-based option, which is more user-friendly and responsive.

The trading platform features some of the best trading tools of any online broker, making it easy to find and assess opportunities and execute trades. It includes innovative tools like "Walk Limit" to prevent adjusting spread orders and "Idea Hub" to quickly find ideas for potential trades.

OptionsXpress provides a robust options chains tool that allows you to view quotes in real-time for each leg of different options strategies. You can see the intrinsic value and time value of options, making complex spreads and executions straightforward.

The "All In One Trade Ticket" is widely regarded as the best order placement tool in the industry, and "StrategyScan" helps identify a trading strategy that suits your personal goals and attitude to risk. This suggests that OptionsXpress is well-suited for traders who want a high level of customization and control.

The platform is also mobile compatible, allowing you to trade using a smartphone or other mobile device. This is a convenient feature for those who want to stay connected and trade on the go.

Overall, the quality of the trading platform and its tools justifies the higher commissions charged by OptionsXpress.

When choosing a country of residence, optionsXpress requires you to select the United States if you want to open an IRA account.

You have several options to choose from when opening an account with optionsXpress, with the most popular being General Investing and Individual Retirement Accounts.

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OptionsXpress has two commission tiers, with the cost per contract being $1.50 for fewer than 35 trades per quarter, and $1.25 for more than 35 trades per quarter.

The minimum fee per trade is $14.95 for fewer than 35 trades, and $12.95 for more than 35 trades. This can be expensive for small volume traders.

There's no charge for exercising or assigning options, which is a plus for traders. Broker-assisted trades are available for $8.95.

OptionsXpress doesn't impose a minimum deposit for opening an account. This makes it easy to get started trading.

The customer service at OptionsXpress is very strong, with multiple contact options including telephone, email, and live chat. You can expect a helpful response, although response via email might be a bit slower.

OptionsXpress offers 24-hour support, but currently, this is only available to futures traders, not options traders.

The platform's user-friendliness and educational resources make it stand out, making trading easier and helping users learn the ins and outs of options trading.

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OptionsXpress stands out for its user-friendly interface and comprehensive educational resources. These resources make trading easier and help users learn the ins and outs of options trading.

The platform's simplicity is a major advantage, making it easy to navigate and find what you need.

The educational resources provided by OptionsXpress are particularly noteworthy, offering tutorials and articles that help beginners grasp options trading.

OptionsXpress is a great starting point for those new to options trading, with its helpful tutorials and articles giving users a solid understanding of the subject.

The customer service at OptionsXpress is very strong, and you can contact support staff via telephone, email, or live chat.

You can expect a helpful response, although response via email could be a little quicker.

OptionsXpress offers 24-hour support, but currently, this is only available to futures traders.

Charles Schwab buys OptionsXpress for $1 billion, a move to capitalize on the profitable business of options trading. This acquisition is expected to boost earnings over the first year of combined operations.

The deal values OptionsXpress shareholders at $17.91 a share, based on Schwab's closing price on Friday. Schwab shares rose 9 cents to $17.65 on the news.

OptionsXpress stock jumped $2.57, or 16.8 percent, to close at $17.90 on Monday. This surge in stock price is a testament to the growing popularity of options trading.

TD Ameritrade Holding Corp. made a similar move to beef up its platform with options trading in 2009, acquiring options trading specialist thinkorswim Group Inc. for $606 million.

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OptionsXpress isn't the best fit for experienced traders who want to perform in-depth back tested simulations and custom scans. It falls short compared to other trading platforms that offer more advanced features.

One of the main cons of OptionsXpress is that it inhibits innovation. This means that traders may not be able to explore new strategies or ideas as easily as they could with other platforms.

OptionsXpress also leverages its incumbent status, which can be a drawback for traders who are looking for a more competitive edge. This means that the platform may not be as willing to innovate or take risks as other companies might be.

OptionsXpress is not the most cost-effective option for new traders, with high cost structures that don't compare favorably with discount brokers that have more expertise in options trading.

optionsXpress offers a wide range of investment products, including options, futures, and stocks. You can also invest in bonds, ETFs, and mutual funds through their platform.

If you're considering investing in mutual funds, be aware that optionsXpress charges a $9.95 + Load Fee commission.

optionsXpress provides access to various investment products, such as: