Its award winning platform features competitive tools that allow investors to achieve many feats from building strategies, placing trades, and identifying risks using a probability calculator.

This Review is maintained by Jordan Zornes. OptionsXpress is a leader among online brokerage firms and is known for its intuitive, innovative, and easy-to-use tools. Founded in , the brokerage firm is currently a subsidiary of The Charles Schwab corporation and it caters to a variety of traders from casual options traders to futures traders.

While some of its fees are higher compared with other discount brokerage firms, it offers discounts in other areas to make up for these costs. The optionsXpress platform offers a variety of investment choices such as stocks, options, mutual funds, ETFs, and bonds. The brokerage firm accommodates international stock trading and forex trading, which gives the company a competitive edge in the sea of brokerage firms.

Other benefits of the service include:. The company is also constantly innovating new ways to make the investing process as seamless as possible and their website is a prime example of this fact. The tools featured on the website are organized by experience level and type, making the brokerage firm the only broker to streamline their services to accommodate varying experience levels.

Additionally, the brokerage firm is also known for its all-in-one trade ticket, which means investors can trade stocks, ETFs, options, futures, and future options from a single page. Another coveted tool is their Walk Limit, which automatically updates options orders to garner the most favorable prices. Instead, they can rely on the Walk Limit feature to gain the most favorable price within the National Best Bid or Offer NBBO. It notifies users of important alerts, trades, and tools updates.

The online platform is customizable so investors can tailor their dashboards to see specific windows and views. The platform also offers educational resources and tools for beginner investors who might need extra help in the investing process. One such tool is the Idea Hub. For instance, the tool takes trade ideas and automatically compares them to profit and loss charts and probability factors. Whether communicating via live chat, email, or telephone, optionsXpress representatives are quite knowledgeable and friendly, well above the industry average for customer service quality.

Furthermore, for investors on the go, the brokerage firm provides a trading app so traders can trade stocks and options, access real-time quotes, and manage watch lists all from their favorite smartphones or devices. While optionsXpress provides an unparalleled platform, its pricing structure can prove costly for some of the most casual investors.

So, investors who prefer to trade stocks over options might want to consider cheaper alternatives like Scottrade. Other drawbacks include the following items:. These fees apply to traders who make less than 35 options trades per quarter. Another drawback to the brokerage firm is its premier platform, Xtend. The platform is offered in two forms as a tool on the website and as a desktop feature.

The desktop version, while visually stunning, is slow and difficult to use. The charting feature is also considerably weaker compared to charting tools that can be found elsewhere. Another slight drawback is the fact that optionsXpress is owned and operated by Charles Schwab. However, an optionsXpress investor will need a Charles Schwab account to access the Schwab benefits. Thus, investors with optionsXpress should realize that in the next several years, the brokerage firm will be shut down and fully integrated into its parent company, Charles Schwab.

So, it would be in their best interests to migrate to Charles Schwab in order to continue enjoying the benefits of optionsXpress. Its award-winning platform features competitive tools that allow investors to achieve many feats like building strategies and placing trades on a single screen, and identifying risks using a probability calculator. The brokerage firm has received rave reviews and ratings for these features by investors and the media alike.

Thus, at the end of the day, the website and online tools are unparalleled in nature and are what people are paying for. So, depending on the needs of investors, optionsXpress can either exceed or fail to meet those needs.

If those needs are trading options, functionality, and innovative investing features, than optionsXpress would be a prime brokerage firm to meet those requirements. However, if those needs are casually trading stocks, a cheaper discount brokerage firm would be a better alternative to fulfill those needs.

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Add Your Review Its award winning platform features competitive tools that allow investors to achieve many feats from building strategies, placing trades, and identifying risks using a probability calculator. Invest Mutual funds to invest?

Trade Mutual funds to trade? Android Average User Ratings.

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Trading Options Forms of trading available? Auto Trading Trading option available? Broker Assisted Trading option available? Manual Trading Trading option available? Financial Advisors Are they available? Time in Business Total of years. Number of Reviews User reviews here on BC. The Good Tools Tailored resources Client support The optionsXpress platform offers a variety of investment choices such as stocks, options, mutual funds, ETFs, and bonds.

Other benefits of the service include: Tools The company is also constantly innovating new ways to make the investing process as seamless as possible and their website is a prime example of this fact. Tailored Resources The online platform is customizable so investors can tailor their dashboards to see specific windows and views.

The Bad Fees Premier platform limitations Owned by another firm While optionsXpress provides an unparalleled platform, its pricing structure can prove costly for some of the most casual investors.

Other drawbacks include the following items: Premier Platform Limitations Another drawback to the brokerage firm is its premier platform, Xtend. Owned By Another Firm Another slight drawback is the fact that optionsXpress is owned and operated by Charles Schwab. X close I am a… Consumer Company Representative I would like the following "reconsidered" The content of the review.

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