Best Options Brokers

Out of all the main options brokerages, Options House is the new kid on the block. But that does not necessarily mean you should not think about switching your account over to them. Like most brokerages they have a sign up offer, in this case it is 100 free trades. I have found them to be an incredibly good broker for options trading and they are who I recommend most of my options coaching students to use.

Setting up an account is really simple and can be done entirely online. In fact, if you want to
take their platform for a test drive, you can be set up for virtual trading in a matter of minutes. This is a huge advantage of options house and I guarantee once you have tried their system you will be impressed. It is a very user friendly, has great functionality and is very easy on the eye. Some of the functionality includes a covered call investigator, a probability calculator, Put and Call spread investigators, risk viewer, volatility charts and much much more. They also have an iPhone app which allows account holders to trade in real time regardless of where they are.

The main advantage of using options house (and the main thing option traders are interested in) is the cost. So, how does options House stack up in terms of costs and commissions. In terms of commissions, they are just about the lowest around. In fact, with some of their pricing structure, it is hard to know how they make any money at all. You're looking at paying around 3.95 for stock and ETF trades and there are also very low commissions for option trades.

Customer service can be an issue with online brokers at times. I had an account with E-Trade many years ago, and found that to be a very painful experience. Any time I had to call customer service, I was guaranteed an 30min wait at a minimum. I haven't had any such experience with options house as yet, and their customer service agents have always been friendly and knowledgeable. They also have a live chat which means you don't have to be stuck on the phone waiting in a queue.

Overall, they are a fantastic online broker and I would give options house review of 5 out of 5 and would not hesitate in recommending them to anyone who trades options.

Options House have some of the best tools around such as a P&L Calculator, Spread and Covered Call analyzers and Volatility Estimators. They are really easy to use. The P&L calculator which allows you to evaluate your trades based on different inputs for volatility and time to expiry.