Minimum to day trader optionshouse
Having the best stock broker to serve individual needs is very important for any investor. For example, cheap trades most often come at the expense of less research tools and a more simplified trade platform. Consider these 12 key factors to help compare all stock brokers and ultimately find the best broker to suite your needs. Trade Commissions What does it cost to buy shares of stock? Does the fee change based on the type of order or size of order?
To keep it simple, look for brokers that offer flat-fee trades, ie charging a flat rate regardless of the type, price of the stock, or size of the order. Customer Service When picking up the phone or emailing a broker, is a well trained customer service representative ready to assist?
How any investor is treated as a client is more important to some than others. Trading Tools Trading successfully is a lot easier when investors have great tools at their disposal. A top stock broker should offer access to a wide variety of trade tools to help make the most of each and every trade. From real-time streaming quotes to last sale tickers, quality stock scanners, mobile trading apps, and level II quotes to name a few.
Strong tools are essential for active investors. Account Minimums Some brokers allow you to open an account with no minimum deposit while others may require several thousand dollars. Also know that some brokers require higher minimums to gain access to premium platforms, functionality, and personalized support.
Market Research A good online broker will provide a variety of market research tools. The rule of thumb here is simple: Investment Options A online stock broker should offer access to not only trading stocks, but also a strong selection of no load mutual funds, commission free ETFs, and complex options. Other unique investment offerings to look for could include direct market routing, conditional orders, futures trading, and forex trading. Other Fees Fees beyond trade commissions include inactivity fees common with active trading brokers such as Interactive Brokers, Lightspeed, and TradeStation and IRA fees for having a retirement account.
Just like a bank account, stock brokers also make a portion of their profits off miscellaneous fees. There is no reason why you should pay an annual fee to have an retirement account. If managing your own portfolio is not of interest, all full-service brokers offer optional advisory services as well. Furthermore, robo-advisors such as Betterment are growing in popularity.
Once again, the experience at larger established brokers is going to be superior to smaller brokers. All you need is your web browser to access the trading platform. OptionsHouse seems to pride themselves on keeping the platform fast, simple, and user-friendly.
I've seen reviews that say it's simply one of the most intuitive platforms out there. OptionsHouse also has several trading tools for you to utilize when doing your research.
These include a risk view to evaluate your portfolio risk, streaming charts and news, a stock screener, and more. In addition, they also have a virtual trading platform where you can learn the ropes of options trading without risking any capital.
By the way, you don't even need to fund an account to check this feature out. You can fund your account a number of ways: See promotion below for an ACAT transfer freebie. After that, there is no minimum balance requirement. As a whole, I'd say OptionsHouse is an excellent place to do your online trading.
It's hard to beat those low fees and to draw from personal experience, I've been using OptionsHouse for the last two and a half years for all of my stock trading options as well and I've never had a problem. The software is excellent and online chat and over the phone support has always helped when I needed it. If I had one negative to say about them, it's that the transfer of funds in and our of my account is slow.
Three full business days each way means that sometimes, I miss a trade I wanted to make if I didn't have the funds available. To sign up with OptionsHouse just visit their official website at www. After spending a ton of money to go to the private University of Miami, Michael now enjoys spending time at home, writing personal finance articles for the world to read. His journey out of debt continues words at a time.
Before now, I have never heard of OptionsHouse before but I will definitely be checking them out! Hi, I'm Philip Taylor. I'm a husband, father, blogger, CPA, and entrepreneur. I love learning to do more with my money and sharing it all here with you. Join in on the conversation and start improving your financial life today. The content of ptmoney. PT Money Do more with your money in half the time. About OptionsHouse You won't see many advertisements for the options-focused, discount broker OptionsHouse.
Fees and Pricing at OptionsHouse The pricing is pretty simple. Use the promo code FREE or sign up using any link within this post.