OptionsHouse is a low cost broker company which was founded in 2005 and started with the aim of being one of the cheapest and advanced trading platforms. The company offers some advanced research tools for active traders and to long term investors who want to purchase mutual funds or want to make few trade transactions on yearly basis.
In 2014, another trading platform TradeMonster merged with OptionsHouse making OptionsHouse one of the best trading platforms which offers cheap trading fees as well as easy user interface as compared to other online trading platforms.
OptionsHouse Key Features
Till now OptionsHouse has gained an image of one of the lowest fees charging company in the field of online brokerage industry. OptionsHouse offer one of the simple pricing structures which are great for some small and large investors. The company was also ranked at second position with Barron’s 2015 brokerage review. Other benefit of OptionsHouse is that they do not charge annual maintenance fees or any type of minimum deposits. The fees and commission charged by OptionsHouse is shows in table below:
|Stock Trades||Option Base||Options Contract||Minimum Deposit||Mutual Funds|
Some other benefits which OptionsHouse provide to all new and existing customers are given as follows:
- One Click Trading – At OptionsHouse you can execute trades with just one click.
- Trade Cycle – This feature offered by OptionsHouse included six steps which includes researching, testing, executing, adjusting and exiting trades.
- Trade Lab – With the help of Trade Lab you can gain the insight of profit and loss from current market conditions with profit/loss and breakeven snapshot. You can also use advanced spectral map for analyzing strategies with customized metrics.
- Monitoring your Trade Positions – For faster trading and performance you can configure your position page and customize setting according to your needs. OptionsHouse also let you to get alerts via popup, email or on registered mobile number.
- Options Chains – This feature let you to view 16 different options chains, including some of those that are strategy based. With this feature you can get all your quotes, deltas and implied volatility in quick time.
- Paper Trading – OptionsHouse provide $100,000 virtual money which helps new investors and traders to practice trades before trading with real money in real market.
- Trade Journal – Another feature which allows traders to log trade tags or notes for the strategy behind real trade.
- AutoTrade – AutoTrade allows you to buy/sell stocks bonds etc upon number of investment newsletters you receive.
OptionsHouse Research Tools
As discussed earlier with the merger of TradeMonster, OptionsHouse upgraded their research tools which help the entire active traders to do option trading easily. Some of the best research tools which the company offers include StrategySEEK, adjustTRADE resources and Exit Plan.
With the help of StrategySEEK and SpreadMAKER research tool you can better understand your trade potential and estimate your potential risks in your portfolio. In case you want to adjust your trading based on your performance you can make it possible with the help of adjustTRADE research tool.
Moreover OptionsHouse also offer TradeLAB which allows all the active traders to test their strategies and produce hundreds of option trades from the results obtained and with which they can match the exact criteria to maximize their returns.
OptionsHouse Virtual Trading Platform
The best thing which makes OptionsHouse to attract all the active traders to open account with them is with the help of Virtual Trading Platform. This is something which other trading platform fail to offer to their new and existing investors.
You can avail this service offered by OptionsHouse only when you create account with OptionsHouse, even when you have not funded any amount in your account to get started. The benefit of this virtual environment is that you are given access to fully functional duplicate of OptionsHouse trading platform which will be limited with virtual parameters that will mirror the live market.
Moreover you are also given $100,000 virtual cash which allows you to trade or invest in the way you want. Another benefit of this virtual environment is that you can trade stocks or options without any risk of trading in the live platform with the real cash. This also helps in horning your skills and building strategies before entering into real situation. You can also fund more virtual currency in your virtual account as you move ahead with you account with OptionsHouse.
If case you are beginning your career as investor than this virtual environment will help you to build confidence and will also let you know the exact way how trading is done. You can make use of this tool to build new strategies and to make experiment in new business sectors.
Other impressive tools which OptionsHouse offer is the free web tutorials which you can enjoy on using their platform and investment coaching.
OptionsHouse Mobile Trading
OptionsHouse put even more emphasis on mobile trading when it merged with TradeMonster and this resulted in more diversification of business. OptionsHouse offer mobile app for users of Iphone, Ipad and Android mobile users. So you can do trade form anywhere with your smartphones.
OptionsHouse mobile app allows you to perform functions such as:
- Accessing streaming quotes and charts
- Search Companies and Symbols
- Trade Stock and Options
- Spreads and Chain Options
- Monitor Positions and Stock Orders
- Virtual Trading Platform
In case you have not installed OptionsHouse trading app, you can perform trading options with the help of fully functional mobile website which allows users to do everything which they can do with desktop browser based OptionsHouse website.