Who has experience with Optionshouse?

Discussion in 'Retail Brokers' started by dave_liu, Jan 17, 2007.

  1. dave_liu


    The commission is dirty cheap. $9.95 per option trading, unlimited number of contracts.

    I plan to open an account with them to try.
  2. They charge per leg on the spreads.
  3. dave_liu


    Right, every broker charges per leg on the spreads.

    For example, if I buy 400 Butterfly, at IB, I need to pay 400*0.75*4=$1200, but at optionshouse I only need to pay 9.95*4=$39.8. It is much cheaper.
  4. What I meant to say was that there is a new ticket charge for each trade. Didn't think it through clearly.

    But even with that being the case you would be doing pretty well if you did volume. I Didn't really stop to think about that too earlier until you brought it to my attention (imagine that, the one marketing tactic they are solid on pushing just went in one ear and out the other)

    Just didn't think it through. I use think or swim myself and like the software alot. It just looks like this place trades with the web interface, though.

    Keep me posted if you decide to sign up, I'd be interested to know how they stack up against the competition.
  5. dave_liu


    I already opened an account with them and I am waiting for the paperwork to come. I might be able to trade after 1-2 weeks.

    I will post some after I get more experience with them. Until now I am happy with their customer service. It is pretty helpful and pretty professional. What I will focus on in the future on their service is speed and execution.

  6. Two weeks?! Is this SOP for them or just because of logistics? (i.e. moving your money over, ect)
  7. dave_liu


    They send me forms, then I sign and return with check. So for us regular mail, it may take 2 weeks for a round trip.