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OptionsHouse Review

Broker Profile

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Likes - $2.95 flat fee trades; two flexible commission plans for options trading; backed by Peak 6 Investments; variety of useful tools for trading options.

Dislikes - Watchlist does not stream real time; stock charting capabilities are very basic.

Bottom Line - OptionsHouse delivers with ultra competitive commissions and quality trade tools for options traders.

OptionsHouse is an online broker that offers low cost options trades to its large client base of investors. Known for being a discount broker, they also provide low cost stock trades and other financial services for their customers. OptionsHouse was founded and created by PEAK6 Investments based in the Chicago, IL area.

Our OptionsHouse review provides trade platform screenshots, detailed commissions information, and online broker ratings. Also discover how OptionsHouse placed in the most recent 2010 Barron’s Review of Online Brokers.

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Commission Notes

OptionsHouse is an online broker with fairly straight forward commission offerings.

Stock Trades - OptionsHouse's flat rate stock trade commissions of $2.95 are amongst the cheapest of any current online broker. If trading stocks under $2.00 though that do not have options, an additional $.005 per share will be charged. This same $.005 per share rate is also applied to any OTCBB (pink sheet) stocks. The $2.95 rate applies to any sized order up to 50,000 shares. If over 50,000 shares then the order will be split into two or more and an added $2.95 commission will be charged for each 50,000 shares. There are no additional fees if the stock is over $2 or if it is traded during pre (before 9:30 AM EST) or post (after 4:00 PM EST) market hours.

Options Trades - OptionsHouse utilizes two different commission plans for options trades. The first is a plan is designed for less active investors, costing $5 for up to 5 contracts. There is a $1 additional fee per contract for any sized order over 5 contracts. The second plan revolves around a $8.50 base rate with a $.15 per contract charge. Active investors will find this second plan to be very appealing due to its low per contract charge. There is an additional $5.00 fee for each exercise or assignment in a given position. If trading options in SPX, VIX and OEX amongst several others, there is an additional fee of $.35 per contract to offset exchange fees.

Previously, OptionsHouse used to charge a simple $9.95 flat rate for unlimited contracts. This was discontinued to give less active investors a more competitive rate. Lastly, it should be noted that TradeWiser publicly displays the $8.50 + $.15 per contract plan throughout the site. This offers better flexibility for visitors utilizing the trade cost calculator.

Other Investment Types - OptionsHouse also offers mutual fund trades for $9.95 per trade. Additional fees will be assessed thereafter if it is a loaded fund.

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All pricing data was obtained from a published web site as of 7/19/2010 and is believed to be accurate, but is not guaranteed. trade WISER staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the top of this page. * For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

** Barron's is a registered trademark of Dow Jones & Company 2010. SmartMoney is a registered trademark of SmartMoney, a joint publishing venture between Dow Jones & Company, Inc. and HearstSM Partnership. Kiplinger is a registered trademark of the Kiplinger Washington Editors, Inc. 2010.