Barron’s, Forbes, Kiplinger’s and Smart Money have all recognized optionsXpress as one of the world leaders in online stock trading; we also distinguish this first–class broker as the best with the “TopTenREVIEWS Gold Award.” Both the seasoned investor and the young trader will find this service user–friendly, educational and containing the advanced tools needed to create profitable investment strategies.
optionsXpress offers numerous tools to help you learn the ins and outs of the stock market, whether you’re interested in trading stocks, options, mutual funds or even bonds. With low commissions and no minimum account balance requirement, this online broker offers affordable rates to everyone.
We really liked that optionsXpress offers a good balance between research/education and pricing. Often you can get low prices, but with little support, or tons of support with high prices, optionsXpress is perfectly in the middle.
optionsXpress Standout Features:
- Flat-rate fees and no minimum account balance requirement
- Virtual trading available for fun no-risk trading
- 10-day Trial account available
- Extensive education available, for trading novices and pros
- Offers numerous unique tools, including the Dragon, TradeWizard and Xspreads Spread Book
There is no minimum investment required to open an account with optionsXpress. The commission is $9.95 or $14.95 on all orders, including broker–assisted orders; this is excellent considering most brokers charge for assistance. optionsXpress charges $1.50 for each options contract.
Though this isn’t the cheapest commission schedule on the market, the tiered rate can work to your benefit if you make at least 9 trades each quarter. This qualifies you for the “Stock Trader Rate” of $9.95.
optionsXpress began in 2000 as a service primarily focused on options and a limited selection of equities; however, today the broker offers a wide array of investments including stocks, mutual funds, exchange–traded funds and bonds. They don’t offer CDs or some of the less popular investments like mortgage–backed securities and unit investment trusts.
Additionally, the service offers IRAs to secure your retirement and education savings plans including Coverdell ESAs and custodial accounts. These are excellent options if you want to fund your own or someone else’s higher education.
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