OptionsXpress Review - What Makes This A Great Choice for Options Traders?
Many reasons can be put forth to justify this generally positive optionsXpress review. The
company formally known as optionsXpress Holdings, Inc. offers retail online brokerage services from its headquarter in Chicago, Illinois. Its
investment services include stocks, options, futures, fixed-income investments and mutual funds both in the United States and abroad.
Even the professionals in the investment industry have recognized the very satisfactory services, performance and other aspects of operation
of optionsXpress. Just to name a few of these recognitions, optionsXpress was awarded 2010 Broker of the Year by The Options Insider and Best
Online Broker from 2004-2006.
So what exactly are the reasons for this positive optionsXpress review? For starters, opening an online account is easy with
the usual filling in of necessary personal information. It will only take 5 minutes if you already have the information handy. As soon as the
electronic transfer of funds is completed, you can start building your wealth with optionsXpress.
The company's trading fees are highly competitive and even cheapest in many instances. But you will find competitors with
lower fees and commissions but you may still opt for optionsXpress for reasons that will be discussed later.
Anyways, the trading fee for stock trades of up to 1,000 shares is $9.95 per trade and $15 for every 10 options. Margin fees are impressive in
that these are very low, indeed, compared to its competitors at prices ranging from 6.25% for account balances below $50,000 to just 4% for over
a million dollars. If you think these percentages are still high, then we assume that you are not exactly the professional trader that the
company is looking for in this case.
Yet another reason for this positive optionsXpress review is the fact that there are no hidden fees! Yes, it may be from
personal nitpicking over the fees but where we are concerned, optionsXpress is tops in our books on this aspect. You will not be billed for
standard transfers of funds, maintenance costs, and inactivity fees - nope, not even for the quotes received online that so many competitors
Aside from the reasonable fees and commissions, you will love trading with optionsXpress because of the easy, fast and
convenient trading platforms. These platforms are supported by the XpressRouter Technology, which is an advanced way of routing orders in the
quickest way possible. You will be able to save thousands on your trades especially when you have to act fast during rising or falling market
prices. Plus, it is compliant with the strict NBBO guidelines enforced by the SEC.
Of course, this positive optionsXpress review is also rooted in the very satisfactory research tools offered by the company.
You have the benefit of the Screener that saves time on choosing the investments - just type in your criteria and the technology does all the
rest. You can also test your investment skills on the Virtual Trader, which is akin to a training ground for newbie investors although veteran
investors can use it to test their theories.
If we are to give star ratings in this optionsXpress review with 5 being the highest grade, we say that optionsXpress deserve a four star
rating. While its fee structure is competitive, certain improvements can be made. The aspects that won us over were the
advanced trading technology, the excellent research tools and the great customer service.