Options Express Review, Get $100 with a New Account!

optionsexpressOptionsXpress is no newcomer to the game. This company has been around since 2001 and recently became a subsidiary of the Charles Schwab Corporation. They offer friendly, knowledgeable customer service and no hidden fees. They also give you a variety of tradable assets to choose from and you can trade them all in one account. It is possible that this will eliminate the need for multiple brokers. They are SIPC insured and a member of the Chicago Board of Options Exchange.

OptionsXpress Trader Tools

Streaming Quotes, Xtend Platform, Webinars, Virtual Trading

OptionsXpress is a discount broker that offers several tools for traders. One of the main features is the Xtend platform. It is for active traders and offers one click trading and streaming quotes. You can trade options, stocks and futures in the one interface. It also offers a virtual trade mode so you can plan and test out trades.

There are also webinars and educational material offered free to customers. The Xpress Method is their proprietary trading education plan that will allow you to learn options trading, futures trading, and stock, mutual fund and ETF trading. There are tutorials, webinars and workshops. There is a free glossary if you have the need to look up certain trading terms that you are not familiar with. In addition, there is a personal coaching program if you want to take things to the next level.

When you first open an OptionsXpress account, you will probably want to start trading right away, but it makes sense to test out the features of the account before you put real money on the line. You want to be familiar with how the trade execution process works and experience it first hand. There is a virtual trading platform so you can do just that. You will get a 25,000 virtual trading account so you can test out trades and become familiar with the OptionsXpress screens.

What Can I Trade in my OptionsXpress Account?

Stocks, Options, Futures, ETFs

OptionsXpress gives you a wide range of choices when deciding what to trade in your account. You can trade stocks, mutual funds, forex, bonds, ETFs, futures and of course options. Each asset class requires a different set of skills so make sure you are familiar with how to trade before you get started.

Login to OptionsXpress Mobile

Another pretty cool feature is the ability to trade on the go with the OptionsXpress mobile app. There are several platforms that you can use to mobile trade.

  • Browser
  • Software (Xtend)
  • iPhone
  • iPad
  • Android
  • Blackberry
  • Windows Phone
  • Palm WebOS

No Hidden Fees and Free Account Transfers

There are no account minimums or platform fees with OptionsXpress. If you need a broker assisted trade, there is no fee for that either. Option trades are only 1.25 a contract for active traders or 1.50 a contract for standard traders.

Open an OptionsXpress Account and Get Transfer Fee Reimbursed

Open an account with optionsXpress.
Log In, then fill out and print an Account Transfer Form.
Mail the signed and completed form along with a copy of your most recent account statement to optionsXpress.
Fax a copy of your final statement showing the transfer fee to OptionsXpress at (312) 629-5256 , and they will credit your account.

Options involve risk and are not suitable for all investors. In addition, electronic trading poses unique risk to investors. optionsXpress, Inc. makes no investment recommendations and does not provide financial, tax or legal advice. System response and access times may vary due to market conditions, system performance and other factors.