Single account trading for multiple assets, excellent customer service, extremely successful
Slightly higher brokerage costs, lack of trading community
Reputed and efficient online trading platform with single window trading for all assets. Sound choice if you are looking for professionalism, security, and top customer support.
OptionsXPress Review - Does "all in one" necessarily mean it's better for traders?
OptionsXPress is one of the top online trading platforms, which allows you to trade in stocks, options, and futures in a single “all in one” account. You obtain the convenience of trading from any location in any your favorite trading assets.
Effective Trading Tools
OptionsXpress trading platform is intuitive and offers easy to use trading tools. Its unique feature is the All-In-One Trade Ticket that allows you to build trading strategies conveniently and place all your trades from a single window. The Strategy Scan tool helps you to identify options strategies based on the market sentiment about the particular target and your individual risk tolerance.
The platform offers an innovative Trade and Portability Calculator that enables quick identification of the opportunities and risks of an options trade. Risk-free testing your trade strategies and ideas is provided with a $25,000 Virtual Trade Account. These efficient tools are useful for both beginners and experienced traders to achieve profitable trades and set them apart from the competition.
Customer Training and Support
OptionsXpress provides comprehensive learning resources and education tools to help train new traders, and sharpen the skills of experienced ones. You can attend the company’s weekly webinars or local live events to learn about innovative trading strategies or just the basics of trading. On-demand training is provided with in-depth videos, skills tests, and charts that prepare you to take advantage of the changes in market conditions.
XPOUND and XPRESSO are two daily newsletters that help customers stay connected to the markets and also feature actionable futures trading ideas. Live customer support is available from licensed futures and options specialists. The company offers extended customer service hours to provide you access to personalized assistance as much as possible. You can speak for free with the trading specialists on the phone or via live chat.
Part of Charles Schwab
OptionsXpress is a wholly owned subsidiary of the Charles Schwab Corporation, which is a powerful financial legacy for this brokerage. The brokerage offers privileged access to additional brokerage services and financial advice through Charles Schwab & Co., Inc. It also provides banking services through Schwab Bank.
Awards and Recognitions
Barron’s Magazine has consistently honored OptionsXpress, and on March 14th, 2011 it called its All-In-One Trade Ticket as a “model for the industry.” In February 2011, Kiplinger’s Personal Finance awarded OptionsXpress with five stars for costs and called it a “Mecca for Options Buffs”. It described the company as an “all-round winner on costs”. The readers at Options Insider voted OptionsXpress as the “2010 Broker of the Year” on January 21st, 2011.
What Others are Saying
OptionsXpress is roundly appreciated by most customers for its efficient and reliable trade execution and professional customer service. However, some customers face software issues occasionally while trading. Customers also feel that this is not the most competitive priced broker in the market, if you are looking for one. Some traders feel more comfortable with an active trading community where they can share ideas and interact with other traders. They find this community side to be lacking at OptionsXpress. In addition, some people question its association with Charles Schwab. Charles Schwab’s website has been accused of designing its website in a way that makes struggling companies look like a solid investment. These accusations though have not been levied towards OptionsXpress though.
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Company and Product Information
Editor and Customer reviews
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