If you are looking for one of the best online brokers, then OptionsXpress name surely comes to the forefront. OptionsXpress is a leading online broker company for stocks, options, futures, bonds, ETFs, mutual funds, in the US and across many other countries in the world.
Established in the year 2000 and headquartered in Chicago, Illinois, OptionsXpress has pioneered itself in the online options and futures trading. It is a Charles Schwab entity and offers powerful trading tool for options and futures traders.
OptionsXpress can be used by young traders as well as by seasoned investors. OptionsXpress offers specialized trading tools for creating profitable investment strategies. Its services are highly useful, educational and user-friendly too. OptionsXpress has an easily understandable fee schedule, low margin rates and sophisticated and advanced tools for online trading whether it relates to futures or not.
With the help of OptionsXpress, you can learn and employ its numerous powerful tools to get a thorough knowledge of the stock markets. It has low commission rates and requires no minimum account balance. It provides various mobile options such as Windows, Android, or iPhone so that you do stock trading or just check your balance on the go.
Though it would seem that OptionsXpress is primarily focused on futures and option traders; however, it is not like that. Actually OptionsXpress offers various account types. It offers cash and margin accounts, and you can have accounts in various categories such as trusts, IRAs, and business accounts. Generally there is no minimum string attached with your accounts, although margin accounts do require a minimum of $2000.
Talking about the services offered by OptionsXpress, you get to have a wide array of services. Not only you get to have plenty of services for options trading, but also include services for other types of trading, as well. You can do full options trading and can even go for complex options strategies as well as penny options. OptionsXpress also has a wide range of futures trading which covers a number of exchanges.
If you ask me why one should choose OptionsXpress over other online brokerages, then perhaps there is not one but many reasons for it. Firstly it offers 24-hour trading facility. Then it provides you an access to industry leading option tools. You can research, analyze and identify opportunities, execute your trade and even monitor options portfolio. Then it comes with a superb mobile trading application named OX Mobile, which gives you access to key features of OptionsXpress trading platform.
Another big plus of using OptionsXpress is that you can open an account with zero investment. Yes, you don’t require making any initial payment so as to open up an account. It doesn’t even charges any sort of base fees on options trades. Also, OptionsXpress offers resources in the form of educational material to educate and empower its clients in general trading skills, as well as advanced trading strategies.
So you see that you get to have a lot of benefits and advantages by using OptionsXpress as your preferred online broker. Having said this; however, there are some points of OptionsXpress which you need to be careful of.
For example, traders who trade large volume of options contract, OptionsXpress has a high options contract fee and also requires a minimum too. Another disadvantage is the fact that OptionsXpress has 24-Hour support only for futures traders. Then OptionsXpress is a trading specialist rather than being a full service broker offering comprehensive financial solutions.
All-in-all, OptionsXpress can easily be regarded as one of the leading online brokerage company for stocks, futures, options, mutual funds and other investment resources. It provides powerful trading tools and high quality, user friendly services. So if, you are looking out for one of the best online broker company, OptionsXpress can surely be regarded as a smart and intelligent choice.