How to use optionshouse trading
No download is needed. All you need is your web browser to access the trading platform. OptionsHouse seems to pride themselves on keeping the platform fast, simple, and user-friendly. I've seen reviews that say it's simply one of the most intuitive platforms out there. OptionsHouse also has several trading tools for you to utilize when doing your research. These include a risk view to evaluate your portfolio risk, streaming charts and news, a stock screener, and more.
In addition, they also have a virtual trading platform where you can learn the ropes of options trading without risking any capital. By the way, you don't even need to fund an account to check this feature out.
You can fund your account a number of ways: See promotion below for an ACAT transfer freebie. After that, there is no minimum balance requirement. As a whole, I'd say OptionsHouse is an excellent place to do your online trading. It's hard to beat those low fees and to draw from personal experience, I've been using OptionsHouse for the last two and a half years for all of my stock trading options as well and I've never had a problem.
The software is excellent and online chat and over the phone support has always helped when I needed it. If I had one negative to say about them, it's that the transfer of funds in and our of my account is slow.
Three full business days each way means that sometimes, I miss a trade I wanted to make if I didn't have the funds available. To sign up with OptionsHouse just visit their official website at www. After spending a ton of money to go to the private University of Miami, Michael now enjoys spending time at home, writing personal finance articles for the world to read.
His journey out of debt continues words at a time. Before now, I have never heard of OptionsHouse before but I will definitely be checking them out! Hi, I'm Philip Taylor. I'm a husband, father, blogger, CPA, and entrepreneur. I love learning to do more with my money and sharing it all here with you. Join in on the conversation and start improving your financial life today. The content of ptmoney. PT Money Do more with your money in half the time.
About OptionsHouse You won't see many advertisements for the options-focused, discount broker OptionsHouse. Fees and Pricing at OptionsHouse The pricing is pretty simple. Broker assisted trades are also available and, rather unusually, at no extra cost.
OptionsHouse customers can choose to switch which plan they use up to once per day, which can be useful if making trades of different sizes. What these two plans mean in practice is that OptionsHouse is attractive in terms of costs to basically all kinds of traders. This has been achieved while still having a commission structure that is easy to understand. Just as the fees at OptionsHouse should appeal to all options traders, so should the trading platform.
It's completely web-based, meaning nothing to download, and it's clean and modern looking. It's simple to use, easy to navigate, and offers plenty of tools and features. The platform is also extremely customizable, more so than others.
The entire interface can be set up to suit your own preferences, simply by adding or removing different sections to the layout. You can even adjust the size of certain sections or choose to have them open up in a new window. This makes the whole platform incredibly user friendly. In terms of the tools and features, OptionsHouse scores highly here too.
Perhaps the highlight is the all in one order ticket, which can be instantly accessed with a single click. This is really easy to use and makes entering orders a really straightforward process.
Also impressive is the Trade Generator, which creates a list of potential trades that may appeal to you based on the parameters you choose to enter.
The PNL Calculator will calculate the potential profit and loss of any strategy you may be considering, including complex strategies. Risk Viewer is a handy tool that will evaluate your open positions and can help you manage your risk exposure.
There is live quote streaming, current market news, and much more as well. Experienced traders looking for advanced features won't be disappointed while beginners should have problems getting used to trading while using this platform. OptionsHouse also offers mobile compatibility for those wishing to trade using their smartphone or tablet. There are applications designed specific for the iPhone and Android devices and these have been created to a high standard.
If OptionsHouse has a weak spot it's probably in the research tools they offer. There is no third party research available, something which most brokers do provide, and much of the research features they do have are somewhat lacking in depth.
You can access basic information but there isn't much that gives you any real insight. This failing could be considered fair enough considering the fees charged by OptionsHouse, but it's definitely an area where the broker should look to improve.
More positively, the technical analysis tools available are of a significantly higher quality. You can easily view short term and long term trends, along with various statistics and trading signals.