OptionsXpress Review

March 17, 2008

(broker review) - Headquartered in Chicago, Illinois, OptionsXpress was formed in 2000 to serve an expanding options trading universe. In addition to options trading, OptionsXpress offers stock, ETF, mutual fund, and bond trading. They do not offer CDs, unit investment trusts, or MBS securities.

The broker provides adequate research tools and a diverse educational platform. OptionsXpress provides streaming level I and level II quotes in addition to charting tools, news feeds, and research reports. OptionsXpress' virtual trading software is a real find, enabling paper trading to hone one's investing skills.

The user interface is simple to use and clients are given the option to watch webinars to assist in the trading process.

As its name implies, OptionsXpress is tailored for the active options trader. Trades are relatively expensive at $14.95 for an account's first nine trades and $9.95 thereafter. Options contracts are charged $1.50 for each contract.

Broker Reviews by Better-Trades.com