Best options trading brokers: summary.
OptionsHouse is offered by E*TRADE. As an online broker, OptionsHouse is dedicated to providing an edge in the marketplace through unmatched value. This valu. Best-in-class OptionsHouse trading platform optimized for the web or virtually any tablet device 4; Expedited support from our Trader Service Team, including licensed Futures Specialists; Preferred pricing of $ per trade and 50¢ options contracts, DIA, and more All investment choices.
Charles Schwab has earned its strong reputation: The broker offers high-quality customer service, two robust trading platforms and a wide selection of commission-free ETFs and no-transaction-fee mutual funds.
Best options trading brokers: NerdWallet adheres to strict standards of editorial integrity to help you make decisions with confidence. Some of the products we feature are from partners.
We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Cons Higher trade commission. High short-term ETF trading fee. Robust research and tools. Cons No no-transaction-fee mutual funds.
Cons Very basic trading platform Limited data and research. Not being able to get my available cash is the worst part. Interactive is the cheapest option commissions I could find and you can do even single option at a time at usually less than a buck!!
Someone let me know if there is a better deal out there. Sounds like you need to see a lawyer. They obviously should have been able to calculate the split and you probably deserve compensation for that Day Trading Margin Call…. PS — I am not a lawyer. If you think optionshouse reads anything like this, you could not be more wrong.
They could not care less. Now I have to wait for another deposite in my account which will take a total of about a week… We are gonna close all three accounts! I have been with OH after tired with TK about 9mths now. Forgetting knowledgeable when one cant even get through to them.
I have issues getting my trade conf and statements and CS told me straight up to leave if I want to. I am even more worried after reading some users experiences with taxes and so fort.
I am closing my trades and moving my cash to TDA slowly. By the end of Aug my trades will expired and most likely be gone. I even got the highest level options trading at TDA and can use Thinkorswim too. They do not honor promotions and their trading platform is awful.
Above all their customer service reps are arrogant, unhelpful and outright rude and that should be the prime reason not to sign up with OptionsHouse. They must change their entire customer service dept.
Stay away from OptionsHouse. On my virtual trading account, I entered a position and then set a stop about two dollars lower, Good Till Cancelled. They changed their fee structure with the trade monster platform. And a few other minor complaints. But one big one. They consider me a professional trader which I am absolutely not simply because my trust contains a beneficiary that is not a relative.
Yet they enabled this feature and began charging me. When I called the representative kept going back to the fact that professional traders have to pay for live data and argued with me. But for me I have had enough. Save yourself and money! Unlike all other brokers, they can sell your options any times at expiration date ANYTIME and charge 25 dollars commission I was holding some contracts and got sell all at market price even I set the limit price 1 hours before closing.
I am closing account. We dont need your consent to manage risk at expiration Lia: The fee will stand. I spoke to margins and they did confirm the action. I am a long time OH user and am completely satisfied. Yes customer service is slow but remember it is a discount broker so you can expect that.
Once in 6 years I have experienced the platform being down and I mostly day trade. In the very beginning I had a lot of problems with the screen freezing but an upgrade in my equipment resolved it.
The latest merger was seamless for me because as per their email notices leading up to it I spent some time learning what was going to happen and how to use the new platform.
I would bet the people complaining about the merger never bothered to do their homework and found themselves locked out of their accounts. That is their own fault. I received at least a half dozen emails telling me what to do to get ready. Their charts are the worst and they will admit it.
Just part using a discount service. I use a different service for my charts. First of all I should say that customer service sucks and it usually takes 20 to 30 min to get answered your call. Trading specialists are very rude and in addition I need to explain the problem at least two times and sometimes they never understand the problem. Asked for supervisor or manager but never got back to me so far.
Sometimes the specialists hung the phone. Horrible service and the system is slow as well. In a nutshell the service is pathetic. OptionsHouse has the most technologically challenged platform on the market. Really messes up studies. They quit responding to my tech support requests. The stop loss feature does not work, customer service unreachable, try Ameritrade, yes, it is expensive but is worth it.
Horrible customer service and outdated data systems. After having a problem that I was unable to resolve with customer service for over a month I finally had to file a complaint with BBB just to get someone to kind of help me.
I have 3 accounts on my own, and 2 for my wife, all with OH. I have 3 accounts here, and 4 with Scottrade. Scottrade is far better in everything except cost per trade. And that gives you access to some premium research for free.
If it works out with those accounts, I will also move my IRA and cash accounts. FWIW, I found that recently using the online chat with OH got me best results… probably more accurate than the voice customer service too. I got to like some of the OH people quite a lot back before they changed clearing houses and did the recent merger. Please use caution with OH! You are forced to close the site down, then re-open it and log back into it again. I was just about to go to…. Not doing that now.
Optionshouse seems to have forgotten why small account holders trade options and has declared war on them. About 3 months ago, I was assigned an option trade that had gone against me, seriously depleting my small stake.
This past week, however 2 winning trades were closed out by Optionshouse less than 4 hours before expiration.
That was a bit much to take, so I filed a complaint with BBB. The response from Optionshouse in brief was: I am in the process of being an ex-customer. Below is their response to my BBB complaint in full. Read and advise yourself. On March 6, at We took market action in your account for the following reasons:. The process by which we monitor our customer accounts for exercise and assignment risk was provided to you and was at all times available on our website.
OptionsHouse had no idea where Best Buy Co. Based on volatility and other market factors, it could have easily finished in the money thus adding potential exercise risk in your cash account. The policy as detailed on our website accurate. On the day of weekly or monthly options expiration in an effort to mitigate potential exercise and assignment risk OptionsHouse monitors and in certain cases takes appropriate market action to reduce risk. Simply stated, you did not have the cash value or securities equivalent value to cover the potential debit resulting from the auto exercise on your long options.
OptionsHouse or Apex may take this action in order to prevent an exercise that would require the purchase or sale of the underlying security for which Customer does not have sufficient funds. Nothing to offend you, but it seems OH has every rights to cover their ass if market goes against you.
I do agree that OH customer service is the worst ever out there. Option house reviews are unreal! Ive been on the phone several times waiting for up to a hour in the last month.
Previous experience just as bad. The live communication on site is just as bad. Emailed 2 times over a month ago and still no response.
They were suppose to grandfather in my rates, they refuse to. I did a ACH transfer , and my money has been in there for over 10 days and they will not allow a cash transfer out of for a small bit of it.
Account has been opened for 4 years. Platform has no charting tools such as drawing capabilities. You can not changed trend lines, such as kind, just solid lines. You can not link the platform to other party software such as MW, TK and such. Rates are lower than SOME brokers but overall lacking. Is it really worth a couple bucks per trade to deal with such?
They worked for us, not we for them! If they were an employee they would have been fired by now. Is there a broker that does not have a god complex, that understands that WE keep them in business, not the other way around? No responses to email, chat, or telephone!!! I already shifted that much to Scottrade, which is about times better in customer service. I would not tell anyone to use this outfit. It has gone from weak to horrible over the past couple of years.
There are no historic reports from last year, and no itemized place to go get the exact trades that my Tax man is asking for. I wont be back on optionshouse. The company does not mail statements. I tried to download statements on the website, but none are available after Oct The company has not mailed tax forms.
These forms are not available on the website, which states there are technical difficulties. I called the customer service number and waited for 64 minutes without anyone answering the phone. I left Scottrade for Tradeking. Lower fee than Scottrade and service and info just as good. Stay away folks… stay FAR away. Worst customer service EVER! I opened an account a little over a month ago and cancelled already. It all started when I opened my account I deposited a sizable amount of money to start investing.
I went to actually invest a few days later when it gave me an error stating my account was locked for trading. I check my account the next day and all the money I deposited had been returned to my bank account with no explanation. But again, no response, explanation, apology, or anything! It was like I was talking to a brick wall and the brick wall basically wanted nothing to do with me or the business I provided. Same issues I am seeing as well, I felt that I should run away asap, but since I have many accounts with this crappy brokerage firm, will slowly move out one by one to either Fidelity or TD Ameritrade.
I have never seen such bad customer service in my last 20 years of experience. No courtesy, no apologies, they think they are providing services for free. Is there a place where I can complaint to SEC or FED or some agency where this brokerage firm can be really penalized for their bad service.
There is no way to talk to Manager or supervisor. I am not able to trade for last 3 days and they are not helping me either to fix the problem. All they say is the problem is on my side. How can it be on my side when I am not table launch the trading window during market hours and can launch after market hours and before market hours.
I cannot launch on Windows 8. They still say the problem is on my side, and asked me to try with different browsers.
They refuse to look into further details and in fact Greg a specialist hung up the phone. Mike said sorry we cannot help and Nick said we open a ticket and get back to you, so far nothing has happened. Is there a place where I can make serious complaint about this brokerage firm. This brokerage firm needs to grow up and learn how to deal with customers.
They will not answer calls they put your call in eternal waiting and will not respond to emails. DO NOT open an account here!! I am just wondering once you start investing and opened an account with OptionHouse, do I need to file taxes or fill any documents of some sort?
I had a horrible experience with OH today, again. They closed out my weekly options way, way too early without my consent. I am closing my account with OH completely. This effectively removes an entire trading day. Perhaps a class action is in order. A simple jungle of the books? They do the same with dividends on open options that the customer does not request. This is by far the worst customer service I have ever seen. I have attempted calling, emailing, and live chatting, I have not been able to get through to anyone and cannot get a response.
After funding my account I have been trying to to get through to someone to find out how long I must wait before I can withdraw some of the funds. As soon as I am able I will be withdrawing the entire amount and closing the account.
These fools how play with real money but are too lazy to read one of several emails they were sent to prepare everyone have been clogging up customer service trying to get access to their accounts and get help using the new platform. I got thru to them very quickly at about pm last Wednesday. The person I spoke with told me this was the case.
And in your case you moron, that info is on the website. I did check the site, the only thing it says is that there may be a holding period, it does not state how long. I am also noticing how often you are posting on this forum which leads me to believe you belong to the customer service dept. Well it looks like optionhouse finally screwed themselves this time. First by joining with trade monster.
I also started trading real time with them up till they joined and was doing ok. Then last week on about was was in good money on ticker calls 3 — all calls had an accident that sent me to the emergency room. The next day I would have taken my profits,,,but being in the emergency room and not trading CMG took a nose dive.
Knowing that in the past i could and have made up them kinds of losses,,,,I did not sell the calls. Sure enough CMG started back up and my calls started the recovery,,, even thru yesterday COM and open an account. I think that them merging with TradeMonster was a big mistake for them, i know it was for me. The worst times to call any customer service is early in the week and early in the morning. When I call with a non-emergency I wait until Wednesday or Thursday afternoon after 2: I bought some stock with cash, i am novice trader and this luckily was fun money.
I then sold the stock for a loss. I bought some otc stock for cash and the next day i had a margin call, I dont understand what the margin call was for but by the time i got the email they had liquidated shares charged me 25 dollar fee and 4. I have 37 dollars left in my cash account at percent equity but it says i have no available funds to withdrawl. I dont understand and as i have said i am totally new at this but i did paper trade on their virtual account for a year and had no such issues.
During that time go to the library and read everything they have on trading stocks. Part of what he does is try and educate people how to trade. This should take at least 6 months if you are seriously trying to learn how to make money trading.
You need a good education or never trade. Just start a K if your employer has one, or go to your bank to open an IRA. Leveraging more than three decades of experience, we bring you one of the most complete packages of tools and resources for traders available today. Aim higher with a leading-edge OptionsHouse platform built for traders, by traders.
Analyze and trade stocks, options, ETFs, and futures from the web or virtually any tablet device. Get expedited support from licensed professionals who know the markets and share your passion for trading. Preferred active trader pricing helps you keep more of your profits. Spend more time focused on your trading results and less time worrying about trading costs.
I was with Scottrade prior for 10 years.
October 29, at 2: