1. Your Questions About Optionsxpress
Susan asks…
Is a optionsXpress a secure and trustful site?
I just created a account on optionsXpress. It asked for a lot of personal info including my SSN.
Later on it asked me a few security questions that were based on things I have had. Like it new
my wifes name, my old address and previous cars I've owned. Is it a safe company?
Steve Winston answers:
Completely legit.
Any investment firm is legally required to collect your SSN in order to report to the IRS. That is
absolutely normal.
The security questions are to protect your account from identity theft. They are annoying, but in
your best interest.
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2. Maria asks…
How to fund money to my OptionsXpress account via internet?
Steve Winston answers:
I have an ACH link set up between my OX account and a bank account. Once that is set up
then you can go to Account > Transfer Funds and do this very easily.
Common Sense mentioned that TOS is better than OX. First, OX is much cheaper if you
negotiate with them and have sizeable assets in the account. Second, while TOS analytics are
much better, they are also handicapped by a uniform volatility model. Your best bet if you have
a professional trader sized account is to use separate options software altogether such as
OptionVue or LiveVol.
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3. Sandra asks…
Has anybody tried optionsxpress trading platform?
They look very good and better than the one I use now... I am just wondering if they are good
and trustworthy seeing how they ask for social security numbers and what not?
Thanks!
Steve Winston answers:
I use it, and they are really good! I mean their service is absolutely the best. They offer a very
useful trading platform. They have a very nicely organized website. Their tech support is
excellent. I have had a very good experience with them. You can transfer money between your
bank and optionsXpress account in several ways. I use the ACH transfer. The only problem is
their commissions. If you buy many options contrats, you'll get hit with a huge commission. They
will make you pay for it dearly! But the services they provide have a price. They have to support
themselves somehow. I recommend that you shop and compare. If you just want the cheapest
brokerage that exists, you'll probably not pick optionsXpress...
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4. Charles asks…
Why do I get "There is a problem with this wesite's security
certificate" when I go to OptionsXpress?
Steve Winston answers:
You shouldn't. Though glitches do occasionally happen for short periods.
Reload your window, or reboot and if you have the same problem, you might have a problem
with your PC.
You can also get some help directly from them using the online chat function or by calling their
800 number.
Hope that helps.
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5. Paul asks…
Is it safe to give out drivers license number and SIN to
OptionsXpress.com (online trading)?
In the application for creating a new account, they must have a government issued I.D. and SIN.
Is it safe to give online?
Steve Winston answers:
Yas......Yas....As long as you're certain you're at the original site,..There's a little Pad-lock,...And
it says Secure
http://safeweb.norton.com/?gclid=CKnwwpim66oCFSY0QgoddHMCPA
Get Up-to-Date Anti-Virus Software
Up-to-date anti-virus software protects your computer against current virus threats. Most
commercially available virus protection programs offer automatic weekly and emergency
downloads of the latest updates. Scan all your files for viruses at least once per month. For the
best protection, however, set up your anti-virus software to scan every file you open.
Get Up-to-Date Anti-Spyware Software
Spyware runs on your computer and can gather private information such as passwords and
credit card numbers, deliver unwanted advertising, and monitor your browsing patterns.
Spyware is typically hidden in an otherwise harmless program, often in freeware or shareware
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6. you download. Before downloading any free software, make sure you know and trust the
provider.
Some Internet Service Providers (ISPs) offer assistance in finding and removing spyware. The
maker of your anti-virus software may also offer anti-spyware protection. Make sure you are
protected against this growing threat.
Use a Personal Firewall
Firewalls serve as protective barriers between your computer and the Internet, preventing
unauthorized access to your computer when you're online.
Be sure to set up a firewall around your computer. Some ISPs offer firewall software to their
customers, and you can buy firewall software or hardware at many computer stores.
Install Security Updates Regularly
Most major software companies regularly release updates or patches to their operating systems
to repair security problems. Some websites, such as Microsoft and Apple, offer the ability to
scan your computer for missing updates. Check your computer for missing updates at least
monthly. For the best protection, set up your computer to receive updates automatically
whenever possible.
Protect Your Wireless Home Network
The default configuration of most wireless home networks is not secure. Contact your wireless
software vendor for specific information about enabling encryption and strengthening the overall
security of your wireless home network.
Exercise Caution with Wireless Hotspots
Taking a few simple precautions when using wireless hotspots can help protect your computer:
Install a firewall on all network computers
Disable wireless connectivity when not in use
Use reputable encryption software
Disable wireless ad hoc mode. This will allow only wireless networks that you created to use
your wireless software.
If you are unsure of the security of a wireless hotspot, don't use it for conducting confidential
business, such as accessing your work e-mail or financial information.
Wireless technologies are continuously changing. Consult the manufacturer of your network
hardware to ensure you have the most up-to-date security technology.
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7. Betty asks…
What is optionsXpress's commissions for stocks?
The website says $9.95 to $14.95 even though on the main commission page it says $9.95. I
found under a Q & A page that is says $14.95 for stocks... which one is it?!
Steve Winston answers:
It is $9.95 per trade.
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