OptionsXpress Review 2012
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optionsXpress Trading Commissions
- $8.95 per stock/etf trade
- Options for active traders: $12.95 for up to 10 contracts, $1.25/contract for over 10 contracts
- Mutual Funds: $9.95
- Bonds: $5.00 per bond, $9.95 Minimum
- Futures: 1-40 contracts $6.99; 41-100 contracts $5.99; 101-300 contracts $4.99; 301-1,000 contracts $3.99; 1,001 + contracts $2.99
OptionsXpress Important Fees and Surcharges
- Extended hours surcharge: $0
- Large order surcharge: $0
- Penny stocks surcharge: $0
- Options exercises or assignments: $9.95
- IRA setup fee: $0
- Annual IRA fee: $0
OptionsXpress Pros
- Great trading tools
- No platform fees
- No hidden fees
- Top rated customer service
- No setup and annual fee IRAs
- Great research amenities
- Free real-time and streaming quotes
- Virtual trading
- $0 to open cash account
- Free online classes
- Free DRIPs
OptionsXpress Cons
- Somewhat high commissions on stocks
OptionsXpress Account Types
- General Investing
- Individual Accounts
- Joint Tenants
- Trusts
- Regular
- Keough
- PSP
- MPP
- Business
- Corporate and LLC
- Partnership
- Investment Club
- Minor
- Custodial
- Coverdell (educational IRA)
- Minor Roth
- MinorTraditional
- Individual Retirement Accounts
- Traditional IRA
- Rollover IRA
- Roth IRA
- SEP IRA
- SIMPLE IRA
OptionsXpress Review
The fees at OptionsXpress, which is now owned by Charles Schwab, are fair. They have flat rates for most types of trades. Stock trades are $8.95.
Options are $12.95 minimum or $1.50
per contract when you buy or sell more than ten. Bond trades are extremely reasonable at $5 per bond with a $9.95 minimum. They also have
competitive rates on etf's, mutual funds, penny stocks, futures and low rates on margin accounts.
Minimum to open cash account is $0, margin account - $2,000.
OptionsXpress has remarkably few fees and surcharges - almost no other brokerage firm has so few. The only notable fee is a $10 options
exercise and assignment fee (only options traders care about it). There are absolutely no hidden fees and no hefty trading platform charges,
like at TradeStation or ChoiceTrade. The company offers fee-free individual retirement accounts as well as free dividend reinvestment -
just call customer service to set it up.
OptionsXpress is known to provide users with excellent customer service. If you decide to call the firm, and place an order with
a help of the broker, there is no surcharge for it (very rare). The company also offers a bunch of very valuable features for free:
virtual trading, streaming quotes (many brokers charge monthly fee for them) and online classes.
OptionsXpress is a necessity for any trader, regardless of experience or level. There is no account minimum except for margin and forex accounts.
There is also no requirement for trading level. Anyone with valid identification information can open an account. Once the account is open all the tools and features are available to use. Trading can start as soon as the money transfer clears. It is also super easy to shift accounts from other brokerages.
OptionsXpress is great for mutual funds investors. Thanks to great trading tools, the company is also very popular among
options traders. Retirement account seekers and "buy and hold" investors will be pleased with no IRA and inactivity fees.
We would open account with OptionsXpress at least to take advantage of all the amazing free features it offers.
OptionsXpress Promotional Code
Get $100 when you open a new account:
optionsXpress
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