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optionsXpress Review

Display Sales Start Trading $4.95 Visit Site

PROS / optionsXpress does not charge a fee for placing a broker-assisted trade.

CONS / The online trading platform lacks the customization options that other platforms offer.

 VERDICT / This online brokerage offers a comprehensive platform with more investment choices than the average service, making it a versatile service good for beginning to advanced traders.

optionsXpress is a leader in online stock trading and recognized by reputable financial and investment sources as one of the best online brokers. It offers a variety of investment options – including other investment vehicles that many other services do not offer – and an intuitive platform with a solid lineup of tools and features.

optionsXpress Visit Site

This online platform allows you to customize your windows and your views. It includes the tools and educational resources you need to support your investment style. Those tools include risk and volatility calculators, charts, streaming news, and analyst-research reports.

  1. The lowest cost for a stock trade.
    Lower is Better
  2. 6 optionsXpress
    $8.95
  3. $4.95
  4. $7.95
  5. $4.95
  6. Category Average
    $12.53

When it comes to options, optionsXpress has tools for creating simple and complex trade orders. You can use preprogrammed strategies or easily create your own, including butterfly, condor, OCO, combo, straddle, strangle, spreads and contingent orders, among others. If you're new to trading options, the intuitive layout of the platform is beneficial, and if you're an experienced options trader, the order placement tools are exceptionally simple to use.

optionsXpress also has mobile apps for iPhone, iPad, Android and Kindle Fire. From these apps, you can trade stocks and options, get real-time quotes, and create and manage watch lists and option chains. One drawback of this online brokerage's app is that you cannot create or manage alerts.

As mentioned above, some of optionsXpress' fees for trades are higher than many services. Stock trades are set at $8.95. The cost for options trades is $14.95 flat for up to 10 contracts and then $1.50 per contract for any number above 10. The fee for an option contract exercise or assignment is $8.95, which is less than the average fee on our lineup. However, optionsXpress does not require a minimum balance to open an account, and it offers broker-assisted trades with no extra fee.

optionsXpress offers a variety of resources to teach you about online trading and how to use the platform. These include blogs, webinars and training videos. Simulated trading is another useful feature that can help you test strategies without risking your own money.

Summary

optionsXpress lets you trade stocks, options, futures and forex from one platform using excellent trading tools. You can trade in a number of different ways and from the most-popular mobile devices. This broker offers superb help and education to support you and your financial planning. The costs for trades with this service are higher than with the majority of brokers we reviewed, but you get a solid online stock broker.

optionsXpress Visit Site
Display Sales Start Trading $4.95 Visit Site