Ads

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 and an intuitive platform with a solid lineup of tools and features. While it does charge more than many other services for online trades, the quality of the platform and the company will be worth it if you can spend the extra money.

optionsXpress does not require a minimum balance to open an account, and it offers broker-assisted trades with no extra fee. As mentioned above, its fee for trades is higher than many services. Stock trades are set at $8.95, which is relatively high when compared to the top three services we reviewed, which charge under $5 per trade. 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 cost up to 10 contracts is average, but when you start trading more contracts than that, it adds up. For example, 100 contracts with optionsXpress is $150 while our top three services range from around $24 to $70 for 100 contracts. If you make more than 35 options trades per quarter, your status changes to active trader, and the fee per 10 contracts drops to $12.95 and $1.25 per contract above 10, so it will be slightly less expensive.

This online broker offers a comprehensive range of investments, including stocks, options, mutual funds, ETFs and bonds. It also offers international stock trading and forex trading. You can choose to invest in a number of IRAs for yourself, your children or your grandchildren.

This online broker provides 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. You’ll also have instant access to level I and level II quotes. You can organize your preferred tools and streaming reports on a customizable desktop. You also can set alerts and automated trading.

You can place trades by telephone or on your desktop computer, and optionsXpress has mobile apps for iPhone, iPad, Android and Kindle Fire. From these apps, you can trade, get real-time quotes and create and manage watch lists and chains. You can also access the website platform from other mobile devices.

The online help from this service is superb. You have access to a number of tutorials and tours that guide you through the site and introduce you to the tools and features. optionsXpress offers webinars that guide you through the functions of the trading platform. If you have further questions about the site or about investments, you can contact customer support through live chat, email or the telephone. Customer support is friendly and helpful.

Ads
optionsXpress Summary:
9.1/10

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 pay for what you get with this service, which is a solid online stock broker.

By
Ads
 
 
 

optionsXpress

Pros
This service offers all of the most important investment options, including stocks, options and futures.

Cons
Its flat rate for trading stocks is higher than many other services.

The Verdict
: 9.07/10

Although this service charges more for trades than other services, many investors will find the quality of service worth the extra cost.