OptionsHouse

877-598-3190
10 S. Riverside Plaza Suite 500 Chicago, Illinois 60606 United States

OptionsHouse has a winning combination of low trading costs and fees plus some of the best options trading tools around. They may not offer the same additional resources as other brokers, but that wouldn't be your primary reason for choosing OptionsHouse in the first place.

The Good

Extremely low trading costs and fees

Probably the single best thing about OptionsHouse is their competitive prices. Trading rates for new clients recently got bumped up from $3.95 to $4.95 per trade, but these rates are still among the lowest in the industry. Plus, OptionsHouse has a unique pricing structure for options traders where you pay $4.95 for an options trade plus $0.50 per contract.

Variety of proprietary tools built into web-based platform

OptionsHouse doesn’t simply offer you a clean, modern web-based trading application—they also include a number of proprietary tools to aid your trading. One of those unique trading tools is the Trade Generator, which produces a set of potential trade ideas based on criteria like risk appetite or time frame. If you’re a more advanced trader, you will find that the Spread Investigator tool comes in handy. It scans all of the equity options for call and put debit spreads that can potentially deliver high returns.

Fully customizable trading interface

The web-based trading platform offered by OptionsHouse is simple to navigate and understand. Perhaps the best feature is the ability to customize the entire interface by minimizing, adding, or removing different sections to the home screen layout. In addition to that, you can open one of these sections as its own separate window so it will detach from the main browser window you originally opened it in. This gives you the ability to spread your trading experience across your entire screen if you wish. It can also be beneficial to have multiple windows open so you can look at a number of indicators at the same time you are researching or executing your trades.

Quick order entry and account navigation

When you open the OptionsHouse trading platform, you will notice that options trading is a heavy feature (hence the product’s name). The quick order entry ticket allows for some of the fastest options trading in the industry. You can instantly add an option leg or a stock leg in one click after typing in a stock quote. OptionsHouse also offers a Quick Launch button in the bottom-left corner of the screen that will completely simplify your navigation. Just click the button and anything you would need is launched in a separate window.

Extensive options trading tools

A review of OptionsHouse wouldn’t be complete without commenting on their options tools, which are some of the best and most useful around. Within the Options tab in your account, you can view options chains, vertical options, an options calendar, and several types of option spread choices. In addition to the aforementioned Spread Investigator and Trade Generator tools, OptionsHouse also offers Risk Viewer, which provides insight into your profits and losses, market risk, and options exposure.

Innovative mobile application

The OptionsHouse mobile application is available for Android and iPhone. The iOS application will also work on an iPod or iPad. The app is simple to use and easy to navigate. You can make trades, set up watch lists, and create alerts. One nice feature about the mobile app is that it provides you with tips to help you navigate when you log in. This is useful because oftentimes iPhone applications have some unique features that you won’t even notice unless you stumble upon them by accident. One feature highlighted by the app is the ability to quickly place a trade by clicking on the bid or ask price of a stock.

The Bad

Limited investment product access

By name, OptionsHouse primarily exists for options traders, but they still offer access to a variety of other investment products. Unfortunately, you can’t access forex or international markets with an OptionsHouse account. It’s the assumption, though, that you wouldn’t be interested in trading with OptionsHouse if you are placing a high value on having access to these investment products, so this shouldn’t be a deal breaker for most traders, especially options traders.

Lacking financial resources offered by major brokers

If you choose OptionsHouse as your broker, you should know that you will not have the same type of additional financial resources that a full-service broker provides. Thus, if you need banking services or access to credit and debit cards, you should look elsewhere. OptionsHouse also does not offer college savings plans or small business tools.

No asset protection guarantee

In terms of account security, many brokers offer an asset protection guarantee against any unauthorized access to your account. OptionsHouse does not offer this guarantee, which means that the assets in your account are not covered should an unauthorized person to use your account. Without the knowledge of how often this activity occurs, it’s difficult to say how significant that guarantee may be. However, it is comforting to know that you are not on the hook for any losses you may not be responsible for.

Limited research and charting capabilities

One of the major knocks on OptionsHouse is the minimal amount of research they provide. There is no third-party research available and many of the other research amenities don’t have the level of depth that you will find elsewhere. The charting capabilities are pretty weak overall, so if you trade with OptionsHouse you may want to consider using a third party to view charts, which can be somewhat frustrating.

Founded in: 2005
Licensed:
Platforms: The OptionsHouse Trading Platform, OptionsHouse Mobile Trading
Capital:
Fees:
Broker:
Exchange:
Withdrawal:
Minimum Deposit:

Mobile Trading Seminars, Education

User Reviews

Noel

Options house messed up a refunded ACHD transfer and in their “fixing” of my cash account they ERASED $106.80 in real money and have as of yet not returned it. In addition, their website is broken such that you cannot download statements and there is no online record of these transactions. I have screen captures of each step though showing the money was there before their fix and gone after. I have filed a complaint with the BBB and will be withdrawing all funds from this poorly run organization.

amy_ruh

They have a good platform. However, their customer service is very poor. I stopped trading with them for this exact reason. I have never seen a more horrible customer service.

Amy

Their customer service agents have no idea about trading or their own platform. So if you can stand their customer service agetns and their ignorance, their platform is okay.

Disgruntled

If you’ve read all these reviews and still have an account with OH, you only have yourself to blame.
I’ve had the most comical experiences with their customer service. It took a month and four separate requests to upgrade my options trading permissions. Each time a representative would say: “I have no idea why it hasn’t been processed. Be assured it will be processed in the next 48 hours.” After four times, I was finally told in a chat that the account was upgraded. I asked if I should’ve received a notification. No, they said. Is there anyway to see the level on the site? No they said. Apparently, the only way to know is to keep placing a spread order, and if you are not denied, then you have been approved! I kid you not.

Joe

I just jointed OH and did not receive a single email from them saying welcome to our service or anything. I tried the interface and think it’s extremely clunky and slow. Come-on… FLASH? It’s somewhat customizable but you’re still limited as to what you can do, and it’s NOT ergonomic at all. The charts suck which are difficult to use and they load slowly. On the charts, you can’t even use your mouse wheel for a smooth zoom. Even the enlargement feature is clunky as heck. The volume bars are in a different chart below and there’s no VWAP indicator. I just joined about 2 hrs ago and thinking of closing my account already. Seriously. The GUI is a let down. Sorry, I can’t stand it. Glad I didn’t fund my account. Should of stayed with trade king for all that matter. As a newbi, IB looks good right now…the web version; not the TWS yet.

Joe
Regarding the VWAP indicator. I just joined with IB and THEY DON’T have a true interday VWAP indicator EITHER!! WTF!
stm

oh and the customer service. was on point they answered within a few minutes no problem
the question I had to ask was something i did wrong..
go long DIA and SPY options with options house

stm

These reviews are the lulz.
Every body says the same thing and if it isn’t the same thing it is people with no sense.
There are a few comments that do make sense, are people with no complaints.
If you don’t understand every aspect of markets. then don’t trade if you do you’ll be gambling.
With this said, I’m a new customer going to Optionshouse to utilize the advanced trading techniques.
I shall see if any of these bad reviews are meaningful. But I doubt it.

Vlad

I trade stocks with OH because of very low commission.
But the service is awful and I think they also steel your money if you trade options.
Trying to wire them a deposit – they are returning it second time, now because they invented it is from the third party.
But I understand that I am getting what I paid for.

mark

I’m done with Optionshouse and their Bullshits:
Strike 1) Changing $9.95 flat rate —-> $8.50 + 0.15 per contract
Strike 2) Bad fill of about $0.02 on a $0.05 spread = OH idealistic commission $8.50 + $2.15+ per contract
Strike 3) It took nearly a week for OH responding to my buddy E-mail question.
Basically, my commission was increased to about 300% more with no significant trading improvement; what hurt the most was them taking that long to respond to my buddy E-mail, when they could’ve hire an extra customer representative (At one point, I’ve paid over $28,000 in commission in a calendar year)
“Optionshouse” should be “Stockshouse”

tw7861970@gmail.com

hi
options house started this program called lending program on brokerage and IRA account … does any body has any input in this program
Will appreciate to hear back
Thanks

Tim

I used to rave about optionshouse to friends and coworkers, after the merger at the beginning of this year, this company took a deep dive, from being amongst the best online broker to crap. Looks like a bunch of knowledgeable baby boomer took an early retirement, this place is probably run by a bunch of no common sense employees. This is not just my opinion, but a bunch of my friends also, who’re slowly looking for another brokerage firm.

Randy

OHouse has so many bad reviews. Cs is the worst I have ever dealt with. They seldom followup with email and if you happen to try to call them be ready to wait 45-hr if your lucky. While, their commissions are lower they well make up for it with the bid/ask fills. Fills are almost always lower, sometimes much lower than what other brokers have.
I’ve compared it and their fills are almost criminal. You end up paying more on the fills then you could ever save on the lower commissions. Avoid, them, pay alittle more elsewhere but your good fill prices will without a doubt offset the commissions. read the reviews posted by their real customers and not paid,compensated sites. Mobile app is a joke!

mark
Which broker did you compare it with? With IB, I got better filled on market and limit order (most times) then OH filled. Going to miss OH trading platform though, I guess I could use them holding long term investment stocks.
jasper

Optionhouse , lousy platform, criminals running the brokerage firm.
Optionhouse is without doubt the worst broker to deal with!! They must pay for their reviews. Customer service is worthless. I have sent numerous emails to them trying to get acct information and general information. They never returns emails. I tired calling and was on hold almost an hour and finally gave up. Their mobile app is junk, just do a search on it. I chosen them because of the lower rates. Turns out hey route their orders in a manner that their fill share at le3ast several cents lower thus on one contract your paying 3-50cents and more for it. They do not fill orders instead stop them out. Ive compared their fills with other online live broker sites and seen the difference. They are nothing more than criminals dress up in suits. I would rather pay a standard $7 + $1.50 for other sites
because you will save money and you will have CS even if you need it only once a year. It would not surprise me to see them investigated and indicted for such.

Ed

I have been with Option House for 2 months. I was with Scottrade prior for 10 years.
I choose Option House because of their very low trading fees on options.
I have had NO problems with any trades or funding my account and the platform is very good.
All is very good with Option House, EXCEPT one little thing and I don’t hear Anyone ever speak about it.
The problem is that ALL of Option House numbers for options and your “Live Account Value” is based on “MARK” values.
This “Mark” value is a medium price between the Bid and Ask price.
So you NEVER know the EXACT amount of money that you made or TRUE VALUE (Dollars) of your account.
An option might say that you LOST $300 BUT the option has ZERO Volume, Never traded, not one contract that day.
I have called and emailed Option House about this issue and I am told that is how they have set-up their platform.
I have a HUGE PROBLEM with these Generic numbers that have NO TRUE VALVE to my account.
I KNOW that Scottrade does not have this accounting on their platform.
Can someone PLEASE comment on this situation.
Is it just ME and do other platforms also use the “Mark” accounting platform?
I am a very active option trader so FEES are a huge concern.
Any suggestions on a better broker with low fees?
Thank you

Katir
Optionhouse is without doubt the worst broker to deal with!! They must pay for their reviews. Customer service is worthless. I have sent numerous emails to them trying to get acct information and general information. They never returns emails. I tired calling and was on hold almost an hour and finally gave up. Their mobile app is junk, just do a search on it. I chose them originally because of the lower rates. Turns out hey route their orders in a manner that their fill share at least several cents lower thus on one contract your paying $3-5 and more for it. They do not fill orders instead stop them out. Ive compared their fills with other online live broker sites and seen the difference. They are nothing more than criminals dress up in suits. I would rather pay a standard $7 + $1.50 for other sites because you will save money and you will have CS even if you need it only once a year. It would not surprise me to see them investigated and indicted for such.
kcandJ

AVOID OPTION HOUSE: CLOSE OUT ASAP and never return!!!
Go with another broker, maybe TOS, IBB? OH will kill cheat you on the Bid/ask fills. They hold back your order till it benefits them. All you have to do is read OptionsHouse’s SEC 606 order routing report to see that not one options order is sent directly to an exchange. Every options order is sold to a third party. OH could be called criminal, and i know that their CS is worthless.

sam
Bad glitch in their software, I open a limit order to sell my OTM options, when I log back on before lunch time, my limit order was cancelled and an order was open to sell at market price, which was lower then my limit order. The cancelled and open order happen at the same time, so it couldn’t be someone hacking my account.