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Your Questions About Optionshouse




Mark asks…




Anyone here using Optionshouse trading service?
What is your experience with it? Positive? Negative? Care to share?




Steve Winston answers:

I have an account there and I'm very pleased. Their trading platform doesn't have some of the
bells and whistles that optionsXpress does, but it seems like most of those bells and whistles
are also for the benefit of newer options traders...so I don't care.

They have low margin interest rates, low commissions, discounts for multi-leg spread trades,
etc. If your trades consist of a lot of contracts (30+) their pricing structure makes them
considerably cheaper than most other online brokers.

For a new options trader, optionsXpress may be the better choice just because of the ease of
using their platform, but if you have some experience, I'd go with OptionsHouse.




                                                                                          1/9
Sharon asks…




Does anyone use OptionsHouse for trading options?
Compared to the other trading platforms their prices are MUCH cheaper. I was considering
moving over to them. Has anyone something good, bad, or ugly to say?




Steve Winston answers:

Hi - My name is Danny Rosenthal and I am the Co-CEO of OptionsHouse. I noticed your post
and thought that I would respond with my biased opinion. Although OptionsHouse is new to the
retail brokerage market, our parent company is a professional options trading firm called
PEAK6. OptionsHouse leveraged the PEAK6 technology infrastructure and overall knowledge
of the options markets to build the tools and the site. I think that you will find the site clean,
intuitive and easy to use. Customer service is run by a former trader and we have experienced
people to help if you have questions.

It is easy to create login and take a look yourself. You do not have to fill out a full applicaiton or
fund to do this. Take a look - let me know what you think.
Thanks,
Danny




                                                                                                 2/9
Linda asks…




Is OptionsHouse the best Online Stock Trading Site?? Why or Why
Not?
Is OptionsHouse the best Online Stock Trading Site?? Why or Why Not?




Steve Winston answers:

They're better than many.

I use;
ThinkOrSwim and
TradeStation
(I closed Interactive Brokers because their platform drove me crazy)

Which broker is "best" really depends on what you need.
Learn this stuff. Make your own decisions. Don't open a brokerage account
based on what strangers suggest.




                                                                            3/9
James asks…




Anyone with trading experience of 'Optionshouse' brokerage
firm.?
Can you let me know of your experience with Optionshouse, they offer good commissions but
what is their trading platform like?. Also do you know if they allow the trading of option debit
spreads with just a $10 - 15k account balance. Looking for a good broker to trade spreads - any
recommendations - thanks.




Steve Winston answers:

Thinkorswim is one of the top option brokers and you can trade any strategy you want once
you're approved for options trading.




                                                                                          4/9
Joseph asks…




For optionshouse, do they take out the minimum $1,000 from your
bank, or do you just have to have in the bank?




Steve Winston answers:

Who are they & why would you allow them to take a grand from your acct????

This smells like a scam from a mile away!




Thomas asks…




                                                                             5/9
OptionsHouse, Tradeking, or MB Trading as an online stock
broker?
I'm currently with Scottrade and have no real complaints other than that $7, while it may be
relatively low, is eating away my profit margin.

I decided between those three based on this chart:

http://www.tradewiser.com/onlinebrokers.html

Which one is the best for a guy like me, looking to trade stocks as a college student with about
$3,000 in my investing account?




Steve Winston answers:

I would highly recommend MB Trading over the other two. They have been around longer, have
won multiple awards, have great execution technology, and their commissions are very low.
They also have been terrific from a customer service perspective for most of people.




                                                                                            6/9
Sandra asks…




Whose Roth IRA's are better: Edward Jones or OptionsHouse?
I have a Roth IRA with Edward Jones but I am considering Options House as well. Any
suggestions?




Steve Winston answers:

The only difference between a Roth IRA at one company vs. Another would be in fees,
convenience, etc. You can buy the same stocks, ETFs, etc. No matter who the broker is. Some
might have some proprietary mutual funds for you to invest in but I'd be leery of those anyway
since they're probably making a profit off those funds which comes out of your returns.

I don't know a lot about OptionsHouse, but I think they are a deep discount broker focused
primarily on options. I wouldn't think you'd be doing a lot of options trading in a Roth IRA. I'm not
sure it's even allowed other than covered call options. You might consider another discount
stock broker like E*Trade, TDAmeritrade, etc. Which handle options as well but aren't
specifically focused on that.

If you plan to do much buying and selling, you would save a lot in commissions at a discount
broker compared to Edward Jones. The Edward Jones representative will give you advice on
what to buy and sell and when, but that comes at a price - MUCH higher commission charges.
For example, buying $2000 in stock might cost somewhere between $4 - $10 at a discount
broker and probably more like $50 at a full-service firm like Edward Jones. If you're just going to
buy something and hold it for 20 years maybe that doesn't matter much, but if you plan to do
some buying and selling along the way, the commissions at a full-service place like Edward
Jones can seriously eat into your returns. If you're totally clueless about investing that might be
worth it to get the advice, but if you have some idea what you're doing you might prefer to make
your own choices and save a lot on the commissions.




                                                                                               7/9
Charles asks…




optionshouse online broker?
Hi i decided to sign up with OptionsHouse online broker because they have the cheapest fee
for trades, but i was wondering if they charge a fee to transfer money from your bank account
into that account




Steve Winston answers:

In the United States, very few, if any broker/dealers charge clients to move money from their
own bank account to the firm's account.

This is done since the receiving bank does not incur any major direct expenses in receiving
monies.

But they do incur expences for moving monies out of their bank account to those of customers'
banks and here the firm may charge.

Good luck on your trading/investing activity, study hard and you'll do well




                                                                                           8/9
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Your Questions About Optionshouse

  • 1. Your Questions About Optionshouse Mark asks… Anyone here using Optionshouse trading service? What is your experience with it? Positive? Negative? Care to share? Steve Winston answers: I have an account there and I'm very pleased. Their trading platform doesn't have some of the bells and whistles that optionsXpress does, but it seems like most of those bells and whistles are also for the benefit of newer options traders...so I don't care. They have low margin interest rates, low commissions, discounts for multi-leg spread trades, etc. If your trades consist of a lot of contracts (30+) their pricing structure makes them considerably cheaper than most other online brokers. For a new options trader, optionsXpress may be the better choice just because of the ease of using their platform, but if you have some experience, I'd go with OptionsHouse. 1/9
  • 2. Sharon asks… Does anyone use OptionsHouse for trading options? Compared to the other trading platforms their prices are MUCH cheaper. I was considering moving over to them. Has anyone something good, bad, or ugly to say? Steve Winston answers: Hi - My name is Danny Rosenthal and I am the Co-CEO of OptionsHouse. I noticed your post and thought that I would respond with my biased opinion. Although OptionsHouse is new to the retail brokerage market, our parent company is a professional options trading firm called PEAK6. OptionsHouse leveraged the PEAK6 technology infrastructure and overall knowledge of the options markets to build the tools and the site. I think that you will find the site clean, intuitive and easy to use. Customer service is run by a former trader and we have experienced people to help if you have questions. It is easy to create login and take a look yourself. You do not have to fill out a full applicaiton or fund to do this. Take a look - let me know what you think. Thanks, Danny 2/9
  • 3. Linda asks… Is OptionsHouse the best Online Stock Trading Site?? Why or Why Not? Is OptionsHouse the best Online Stock Trading Site?? Why or Why Not? Steve Winston answers: They're better than many. I use; ThinkOrSwim and TradeStation (I closed Interactive Brokers because their platform drove me crazy) Which broker is "best" really depends on what you need. Learn this stuff. Make your own decisions. Don't open a brokerage account based on what strangers suggest. 3/9
  • 4. James asks… Anyone with trading experience of 'Optionshouse' brokerage firm.? Can you let me know of your experience with Optionshouse, they offer good commissions but what is their trading platform like?. Also do you know if they allow the trading of option debit spreads with just a $10 - 15k account balance. Looking for a good broker to trade spreads - any recommendations - thanks. Steve Winston answers: Thinkorswim is one of the top option brokers and you can trade any strategy you want once you're approved for options trading. 4/9
  • 5. Joseph asks… For optionshouse, do they take out the minimum $1,000 from your bank, or do you just have to have in the bank? Steve Winston answers: Who are they & why would you allow them to take a grand from your acct???? This smells like a scam from a mile away! Thomas asks… 5/9
  • 6. OptionsHouse, Tradeking, or MB Trading as an online stock broker? I'm currently with Scottrade and have no real complaints other than that $7, while it may be relatively low, is eating away my profit margin. I decided between those three based on this chart: http://www.tradewiser.com/onlinebrokers.html Which one is the best for a guy like me, looking to trade stocks as a college student with about $3,000 in my investing account? Steve Winston answers: I would highly recommend MB Trading over the other two. They have been around longer, have won multiple awards, have great execution technology, and their commissions are very low. They also have been terrific from a customer service perspective for most of people. 6/9
  • 7. Sandra asks… Whose Roth IRA's are better: Edward Jones or OptionsHouse? I have a Roth IRA with Edward Jones but I am considering Options House as well. Any suggestions? Steve Winston answers: The only difference between a Roth IRA at one company vs. Another would be in fees, convenience, etc. You can buy the same stocks, ETFs, etc. No matter who the broker is. Some might have some proprietary mutual funds for you to invest in but I'd be leery of those anyway since they're probably making a profit off those funds which comes out of your returns. I don't know a lot about OptionsHouse, but I think they are a deep discount broker focused primarily on options. I wouldn't think you'd be doing a lot of options trading in a Roth IRA. I'm not sure it's even allowed other than covered call options. You might consider another discount stock broker like E*Trade, TDAmeritrade, etc. Which handle options as well but aren't specifically focused on that. If you plan to do much buying and selling, you would save a lot in commissions at a discount broker compared to Edward Jones. The Edward Jones representative will give you advice on what to buy and sell and when, but that comes at a price - MUCH higher commission charges. For example, buying $2000 in stock might cost somewhere between $4 - $10 at a discount broker and probably more like $50 at a full-service firm like Edward Jones. If you're just going to buy something and hold it for 20 years maybe that doesn't matter much, but if you plan to do some buying and selling along the way, the commissions at a full-service place like Edward Jones can seriously eat into your returns. If you're totally clueless about investing that might be worth it to get the advice, but if you have some idea what you're doing you might prefer to make your own choices and save a lot on the commissions. 7/9
  • 8. Charles asks… optionshouse online broker? Hi i decided to sign up with OptionsHouse online broker because they have the cheapest fee for trades, but i was wondering if they charge a fee to transfer money from your bank account into that account Steve Winston answers: In the United States, very few, if any broker/dealers charge clients to move money from their own bank account to the firm's account. This is done since the receiving bank does not incur any major direct expenses in receiving monies. But they do incur expences for moving monies out of their bank account to those of customers' banks and here the firm may charge. Good luck on your trading/investing activity, study hard and you'll do well 8/9
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