(broker review) - Optionshouse was founded by PEAK6 Investments as a low commission broker customized primarily for options traders.

This low cost commission model represents the primary advantage of trading with optionshouse. As of February 2010, optionshouse offers an outstanding flat rate commission of $2.95 per stock trade.

Options trades are also set at a flat rate, regardless of how many trades, trade size, or the account value. At $9.95 per option leg (or $8.50 + $0.15/contract for trades involving more than 10 contracts), optionshouse is among the most competitively priced options brokers around. For both stock and options trades, optionshouse guarantees best execution possible.

The optionshouse trading platform is simplified, providing an ease of use that is refreshing. Navigating through the site is uncomplicated, and a site tour is available to guide users through the ins and outs of the site.

Tools offered include streaming charts and news, profit & loss and probability calculators, a stock screener, and a host of options specific tools tailored for that type of trader. optionshouse also offers paper trading through a virtual program where you can practice and/or backtest yourself at any time.

In addition to stock and options trading, optionshouse features ETF and mutual fund vehicles, along with multiple other products. optionshouse is SIPC insured, offers primary banking and money management functions, as well as several retirement account vehicles.

Overall, optionshouse is a great choice for traders who are looking to minimize trading costs through low commissions and no hidden fees, maintenance costs, balance or trading minimum requirements. A novice investor looking for more hands on guidance - who is willing to pay higher fees - may not be best served by a discount broker like optionshouse. The more seasoned trader will find optionshouse a great fit, and options traders will find few better choices.

Broker Reviews by Better-Trades.com