OptionsHouse Online Stock Trading
If you are looking for a solid online trading service provider with experience and competitive fees, OptionsHouse could be the perfect choice. This provider not only offers services for online stock trading, it also offers a range of educational tools and resources such as online learning and free coaching. This makes it a great choice for those who are new to trading and investing, as it means that they can build up their confidence through increasing their knowledge before taking any risks.
The ability to set up a demo account is an invaluable resource, enabling those who need additional experience and confidence to benefit. The fees charged by this company are both flexible and affordable, which is another reason behind its appeal. The broker is dedicated to client education about trading and investments as well as providing a host of services, which means that traders of all levels can use the service.
OptionsHouse is a highly detailed and well-developed way to get involved with online trading. It is not only a solid platform for investing, but it also has competitive fees and a focus on providing professional support when necessary to put a user's mind at ease. In many ways, it stands out by not trying to do anything particularly new, but instead trying to refine the way they serve their customers, providing a highly focused platform that makes it easy for experienced traders and people who are new to investing to jump right in and start.
More than anything, the educational resources provided by OptionsHouse are a reason to use their service. In the case of most online trading services, any education is very basic, reflecting a focus on newer investors rather than outreach to intermediate users who are trying to improve or experienced traders trying to find a platform for regular activity. In many cases, there is the perception of a balancing act between seeming to be useful and not actually being too useful.
OptionsHouse doesn't do that. Their educational material is top of the line, with careful explanations of concepts ranging from the most basic to highly complex ideas. The site doesn't want to just appeal to new investors, they want to draw in veterans and even grow their own experts, allowing users to develop at their own pace.
The quality of educational material is, itself, very high. In all cases the information available does an excellent job of explaining what it needs to without talking down to the user or without being dull and difficult to follow. The whole online learning environment is well structured, making it easy to find the information that you're looking for in order to be able to apply it quickly when timing counts.
If the basic online learning options are not enough, users can also receive free coaching from experts at the company. They can help you make difficult decisions and accurately analyze the markets. They work with you to improve your investment strategies and take advantage of opportunities as they present themselves. This can be an invaluable resource, not just for new traders but also for people who have been doing this for quite some time. Even veterans may need another expert to bounce ideas off of or just want a different opinion.
Fees and the Demo Account
One of the biggest advantages to OptionsHouse is that the fees are not only affordable, but flexible. This seems to be related to a larger theme of wanting to adjust their services to the customer rather than developing a rigid system that expects all users to adjust to it.
The way that this flexible fee system works seems counterintuitive, employing a flat fee for various types of trade. However, while the fee is unchanging, there is a large structure in place that will allow you, as a user, to use various investment strategies which can change with type of flat fee you're paying. Further, the flat fee system, as compared to the sliding scale of other brokers, ends up being much cheaper in the long run and is surprisingly easy to grasp.
The demo account is also a fantastic way for new investors to safely spend some time trying various strategies, learning from the educational section and getting more comfortable with online trading before risking real money. Virtual trading is a system that OptionsHouse picked up in 2014 when it merged with another company that had, at the time, one of the best systems for that on the market. They have since improved it drastically without ruining the easy to use UI that broke trading down to simple processes and made it easier to keep an eye on what's been happening with virtual investments.
The other advantage to the demo account is that it is easily integrated with the educational resources, making it simple to see what you did well, what you did poorly, and how to improve. The sheer amount of data that is available to the user is incredible. It would be overwhelming if the site didn't also provide the resources to understand what it all means and how to use that information to your advantage.
The markets never stop, which is why the fact that there is an easy application available to trade on mobile devices makes this an even more attractive platform. The UI is sleek and very quick, running off of an HTML5 design in a native wrapper. The response is about as quick as it would be to use the tools on a desktop.
The biggest and most notable drawback to the OptionsHouse platform is that it doesn't allow Level II quotes. While for many investors these are not particularly useful or even necessary, this failure is where OptionsHouse's apparent commitment to reaching a wide variety of users falls apart. Experienced investors will want to know the type of trader buying or selling a stock, where the trends suggest it will head, and other important insights that are completely absent here.
Verdict - Great
Overall, OptionsHouse is one of the better online trading platforms available, offering a range of services and benefits to make it attractive to new investors and those with years of experience. The educational resources are fantastic and the availability of free coaching and the demo account reinforce the company's desire to make better investors of its users.
That being said, the lack of Level II quotes will be a turnoff to a lot of people who rely on that highly detailed information in order to make the most out of their investments. While it's not strictly necessary to have, it's a serious deficiency for many potential customers that ought to be remedied as quickly as possible.
In any case, it's certainly worth looking into and most investors will be incredibly pleased by everything they get with their subscription.