One of The Best Online Broker for Options Traders
OptionsHouse was founded by PEAK6 Investments in 2005. Developed and powered with PEAK6 technology. The goal of OptionsHouse is to make it possible for retail and institutional options traders to progress from basic trading, to a more professional level. OptionsHouse utilizes tools and methods derived from PEAK6′s extensive trading platforms; the same state-of-the-art technology they use to trade large-scale positions on every U.S. exchange, every trading day.
PEAK6 Investments was founded in 1997, and is headquartered on the original Chicago Board of Trade trading floor. PEAK6 Capital Management LLC, an affiliated market making and proprietary trading firm, is a provider of liquidity to the options market. This extensive history of successful options trading shows through in everything OptionsHouse does. Essentially, OptionsHouse is a brokerage firm created by professional options traders to help retail options traders enjoy a more level playing field with the pros.
OptionsHouse offers a choice in commission structure that you can choose based upon whichever is cheaper for your trades. For options you can choose between paying $5 for the first 5 contracts, plus $1 for each additional contract, or you can pay $8.50 per trade plus $.15 per contract. Obviously, if you trade 9 contracts or less, you'll want to choose the first commission option, if you trade 10 or more contract, the second choice is better.
Since they are options specialists, they recognize that many options traders use multi-leg, or spread trades. Rather than paying for each individual leg of a butterfly or some other spread trade, they offer a specific pricing structure for spreads. Once again, they offer two choices. You can pay $10 for up to 10 contracts plus $1 for each additional contract, or you can pay $12.50 plus $.15 per contract.
While OptionsHouse specializes in options trading, their stock commission are also very low. They charge a flat rate of $3.95 per trade, regardless of how many shares you trade. Compared to most online brokers who specialize in stock trading, $3.95 is a bargain.
If you're going to trade options, OptionsHouse is one of the better choices. Even if options aren't the main focus of your trading, their $3.95 stock commissions make a compelling argument for using them anyway. Their combination of low commissions, outstanding options trading tools, and special educational offers, makes us agree with Barron's 4-Star rating.
Current Special Offers
While OptionsHouse doesn't have account minimums, they do always offer some special opportunities depending upon how much you deposit into your account. If you open an account with at least $3,000, you will get 100 commission free trades by entering the code "FREE100" when you open your account.
OptionsHouse has a new offer for IRA accounts. By using the code "IRAFREE", you can get both 100 commission-free trades along with reimbursement of up to $125 in account transfer fees.
Open an account with OptionsHouse today and get a free one-year subscription to your choice of up to four Morningstar Investing Newsletters. The more you fund—the more free newsletters you can choose. With your free subscriptions, you’ll get an entire year of independent analysis and proprietary data to help you do more with your trading.
All of these special offers are available by clicking on the link below to open an account with OptionsHouse.
Click here to get started with OptionsHouse today!