Assets Variety The variety of trade options and intstruments available. Their Probability Calculator allows you to enter price targets for a given stock and determine whether the target would be met in the future. However, some OptionsHouse reviews reported that it may be relatively difficult for new investors to become familiarized with the customization process because of the complex interface. Within the Options tab in your account, you can view options chains, vertical options, an options calendar, and several types of option spread choices.
First, you forecast the price at which you think the stock might end up down the road. Next, you drag and drop to set and order your priorities for the trade: Profit, Return, Probability, and Safety. From here, you can create an order and place the trade, analyze the trade see above , or adjust the scanner and rerun.
The OptionsHouse platform calculates EVERY possibility, millions of them, using a plethora of data, and displays results in milliseconds. All in all, the arsenal of tools available to options traders is truly impressive. OptionsHouse has a clear understanding of what options traders want, and delivers it in stunning fashion.
And, as far as equities trading goes, while the platform has a strong foundation of functionality, the overall trading experience could be better. This is especially true for the charting interface, which needs an overhaul.
That said, when it comes to browser-based platforms, options trading, and ease of use for new investors, OptionsHouse is king. OptionsHouse offers its own Fundamental Report Cards for each company, which, until October , also included letter-relative ratings. While I applaud the OptionsHouse platform team for thinking outside the box, I found the data difficult to interpret and unimpressive. With such competitive commissions, OptionsHouse must cut somewhere, and research is where the broker shaves cost.
Beyond the Fundamental Report Cards, not much else is offered. There are no third-party research reports, no way of conducting metric comparisons against other companies, no SEC filings, and you cannot even view a simple balance sheet. The data is very limiting and the only real positive is being able to see a Morningstar star rating for both ETFs and mutual funds.
OptionsHouse is not recommended for research-hungry investors. In late , OptionsHouse released a brand-new mobile experience, completely rebuilt from the ground up. Thankfully, speed is no longer a worry and the broker now has a fantastic foundation to build from.
Looking at the features of the new experience, on the plus side, the app has the strong core functionality traders desire: The app also enables traders to place basic and complex options orders, view post-hours charts, and more.
OptionsHouse mobile quote fan. On the cons side, the app is still so new there are features missing that are still under development and awaiting release later in When looking at stock charts and trying to perform technical analysis, you cannot rotate the screen horizontally to view the chart cleanly.
Studies are fairly limited at 11 although they can be deeply customized, which is nice and there are no tools beyond pinching to zoom in and out.
OptionsHouse has left its previous app in the app store for this reason, which makes sense. OptionsHouse mobile stock chart. All data considered, while OptionsHouse clients are stuck using two separate app experiences until the new app is fully featured, the mobile offering is still great.
OptionsHouse placed fourth out of 16 brokers. OptionsHouse delivers customer service that is on par with industry standards. The broker is certainly not industry leading, finishing eighth overall, but it delivers a quality experience that should appease most clients.
Education is limited to just options, there are no videos, organization is poor, and there is a lot left to be desired. OptionsHouse has proved to be a terrific home for options traders over the years.
For now, OptionsHouse remains a stand-alone brand that continues to do what it does best. While it is weak in its offering of education, research, and tools catering to active stock traders specifically, OptionsHouse is on par with the industry with its customer service and shines everywhere else.
For options trading, OptionsHouse is No 1, thanks to its discounted pricing structure and industry-leading tools. OptionsHouse is best for: OptionsHouse scores big points for requiring no minimum balance to open an account. Similarly, customers pay nothing extra for the platform or data. Options trading platform and tools: OptionsHouse started as a broker for experienced, self-directed investors who were active in options, and it still offers professional-grade tools and execution at a low price.
From the trade ticket, users can quickly make changes, walking through trade ideas where everything is customizable. The platform also has significant automation capabilities, including trigger alerts that allow users to pre-populate orders. The platform then pushes an alert to the user when an event is triggered. Another standout tool is strategySEEK, which helps investors scan live market data for options strategies based on specific criteria.
The tool turns up a list of matches, allowing the user to quickly create an order, using the above features to analyze the trade within the ticket. Paper trading virtual trading without putting real money on the line is a nice perk for new traders and new-to-the-platform investors.
Having only five commission-free ETFs is disappointing, but not unusual in the realm of discount brokerages. Mutual fund investors will find those costs add up rather quickly. OptionsHouse offers some of the lowest commissions and fees, making it one of the most affordable choices in its competitive set.
Its advanced tools and fast trade executions, along with a full-service platform, make it well-suited for options traders.