One of the best deals in stock trading is OptionsHouse. This is a discount brokerage with a cutting edge trading platform and low, low prices. Barron’s gave OptionsHouse four stars for its “trading and tech,” so you know that you are getting access to one of the best platforms available.
OptionsHouse offers stock trades for $4.75 per transactions. This is a price that’s one of the lowest available. There are other fees associated with special-type orders. OTCBB trades cost $0.005 per share, and you will need to pay different fees for orders of more than 50,000 shares or shares that cost less than $2 per share.
Options trading is based on two different plans. You can trade up to five single-leg contracts for $5, and then $1 apiece for each contract beyond that. More frequent traders can trade for a flat fee of $8.95, plus $0.15 per contract.
Spreads can be traded at a rate of $10 for 10, or $12.50 plus $0.15 per contract on larger orders.
It’s possible to change your plan daily, depending on your trading volume, so that you can make your trading cost-efficient.
Unfortunately, trading mutual funds requires that you call and talk to someone. Mutual funds trade for the relatively small price of $9.95 per transaction, but the fact that you have to make a phone call is a bit inconvenient.
Right now, there are two different offers for free trading with OptionsHouse.
Get 100 Free Trades with OptionsHouse
In order to get the 100 free trades with OptionsHouse, you need to be a new customer, and open an account with a minimum of $5,000. In order to get the deal, you need to use the code FREE100. Once you have your account, you will need to use your free trades within 60 days. You won’t receive credit or anything else for unused free trades.
This offer does not expire, so to take advantage of it before the promotion changes. Make sure you read the fine print before you commit, since there are caveats with this offer.
Trade Free for 60 Days with OptionsHouse
Another option is to get 60 days of free trading. Use promo code 60FREE13 by December 31, 2015. You need $5,000 and to be a new customer in order to take advantage of this deal. The number of trades you can make is capped at 100. Make sure to read the fine print on the deal to make sure you understand the way each of your transactions is billed, since some large trade orders might be considered as more than one transaction.
Who Can Benefit from OptionsHouse?
OptionsHouse is ideal for active traders. Inexperienced traders can benefit from OptionsHouse, but they need to be prepared for a site that doesn’t have all of the same features, like third-party research, that some of the other (more expensive) brokerages have.
Additionally, equity traders might have a higher learning curve, since even non-option trades take place in legs. Options traders will find the platform easy to use, though, since OptionsHouse is set up for options traders.