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Trade Options Online: OptionsXpress Brokerage Review

Updated on January 7, 2011

Trade Options Online: OptionsXpress Brokerage Review

Each day that the stock market is open investors around the globe utilize options to profit from the rise and fall of specific securities trading in numerous markets. In order to execute trades from the comfort of their own home or office, they require an online brokerage service. There are number online brokerages available, so why do over 300,000 investors and traders use optionsXpress for their online investments?

Let’s take a look.

OptionsXpress is an online brokerage firm, owned by optionsXpress Holdings, Inc. (NASDAQ:OXPS), that is based out of Chicago and provides clients access to internet-based brokerage services for online trading of options, stocks, futures, mutual funds, ETFs, and fixed-income investments in the United States and abroad. The company was founded in 2000 and this online broker has grown to become very popular in the trading community and has won numerous awards. OptionsXpress has developed an innovative browser-based online trading platform that ensures retail investors can discover, evaluate, and execute options trades that match their trading style and investment goals.


Site Tour

Features:

OptionsXpress clients have access to a variety of features:

  • Offers a one stop trading and investment location that reduces the complexity of managing investments by allowing access to all investment categories in a single account. Logging onto the optionsXpress homepage an investor can trade stocks, options, and ETFs, all within one account.
  • Free streaming real-time quotes
  • No minimum balance required and no monthly maintenance fee
  • Securities Investor Protection Corporation (SIPC) member
  • Deposit accounts FDIC insured up to $2.5 million
  • Free broker-assisted trades


Execute a Trade

Xtend

Powerful Online Trading Tools:

OptionsXpress clients also have access to powerful research tools that allow investors to search, analyze, trade, and monitor their investments. For example:

  • The Dragon – Stock and options searching tool that allows investors to choose specific, searchable criteria and browse through investment results
  • Market Calendar – This tool allows investor to view investing days and months and plan head of earnings reports, ex-dividend dates, and options expiration dates.
  • Market News – Streams news from a variety of trusted investment related websites to keep clients update with the latest business and investment developments.
  • Virtual Trade – Practice, practice, practice. Virtual trading allows investors to test their online trading strategies and refine their techniques without risking real any capital.
  • OX Mobile – Allows live trading, streaming market quotes, and account balances directly on your iPhone or Android mobile device.
  • Xtend – A downloadable and customizable trading platform.
  • OX Chrome Extension - If your using Google Chrome as your internet browser, the Chrome extension allows you to view your account information at any time without leaving the current website your browsing. It also gives you quick access to quotes and news

And much more!

Do you use options in your investment portfolio?

See results

Awards:

OptionsXpress has been the receipt of number awards and consistently high ratings:

  • Rated 4 stars by Barrons 9 straight years
  • Rated 5 stars by SmartMoney
  • Rated Best of the Web by Forbes

OptionsXpress Education

Education:

OX offers and enormous amount of material in the Education Center covering topics such as options, futures, stocks, bonds, and ETFs. These resource contain a vast amount of knowledge and are available at no cost to clients. Also included are:

  • Online tutorials and demos
  • Free webinars
  • Articles
  • Blogs
  • Seminars
  • Newsletters

Education Center

Pricing and Commissions:

OX has variable commission prices depending on the amount of contracts traded.

  • Trading between 1 to 10 option contracts costs a flat rate of $14.95
  • Trading 10 or more option contracts costs $1.50/contract
  • Trading between 1 and 1000 stock shares cost $9.95
  • Trading over 1,000 shares cost $0.01/share

In conclusion, OX is a considered a top-rated broker by most options traders for it's intuitive and simple trading platform, it's large variety of trading tools, and its extraordinary amount of resources available for those looking to learn almost anything related to stocks and options.

Setting up an account with OX is very fast and extremely simple. The total process takes about 5 minutes. In fact, you can receive $100 just by opening an account using this Promotion Code.

Once you have an options approved broker head to these posts to learn more about options trading strategies.

How Do Stock Options Work Call? Options Explained

Online Options Investing: Long Call

Selling Covered Calls for Additional Income

Writing Puts to Generate Additional Income or Acquire Discounted Stock

Protecting Unrealized Gains by Establishing a Collar

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