OptionsHouse Review, Plus Awesome Promotion Codes

Optionshouse offers some of the lowest and most competitive rates in the market today. Additionally, you get the flexibility to choose the rate that is best suited for each trade.

Stocks - These come at a flat rate of $3.95.

Options - If you choose the "Up to 5" plan, the rate is just $5 for the first 5 contracts and $1 for each additional contract. You also have the options to select the "Over 5" option which offers you the rate of $8.50 plus an additional 0.15 cents for each contract. If you're a high volume trader, you'll save more with the "Over 5" plan.

Spreads - Up to 10 comes for $10 plus $1 for every contract above 10 or you could pay $12.50 plus 0.15 cents for each contract.

Mutual Funds - Available at a rate of $9.95.

Before you sign up anywhere, it's always a good idea to look into what I call the "hidden" or "surprise we're taking your money" fees. So here they are...

Domestic wire fees: $15
Overnight check delivery: $20
Saturday delivery checks: $25
Returned wire fee: $30
Returned ACH fee: $30
Returned check fee: $30 per check
IRA closing fee: $20
Pre pay fee: $20
Certificate processing fee: $75
Outgoing ACAT transfers: $50
Debit card annual fee: $30
Stop Payment: $30
Index fees per contract: $0.35
OTCBB: $0.005 per share
Transfer and ship certificate: $235
Restricted stock processing fee: $125

Overall, pretty standard fees when compared to most brokers, but always good to be aware of nonetheless.

Pros
-Offers the lowest commission pricings as well as streaming quotes at no charge
-Provides users with efficient tools for trading
-There are no inactivity fees, maintenance or volume requirements
-Users are offered check writing privileges for free and are not charged for virtual trading
-Extended hours of trading and bulk orders do not carry any extra surcharge
-Reduced margin rates as well as facilities for one on one coaching for the clients at a reasonable rate

Cons
-There are no eligible options for the stocks that are priced $2.00 or lower.
-International investors are not allowed
-Extended hours of trading are shortened. 8.30 am to 9.30 am and 4.00 pm to 5.00 pm Eastern Time.

Optionshouse provides you with numerous tools that will help you immensely in all your trading and investing activities. Here are a few of the tools you might appreciate:

Risk Viewer - Want to estimate your potential risks associated with different trading positions before you make a trade? No problem, you can do that with Risk Viewer.

The Covered Call Investigator will help you write covered calls by scanning all your available equity options, finding you the covered call positions that maximize profit and minimize losses.

Streaming Charts are offered free of charge.

The Stock Screener takes your investment profile and investment goals into consideration and spits out suitable investments based on your input criteria.

Volatility Charts allow you to track volatility trends based on implied and historical data.

For a list of even more tools, you can check out this great OptionsHouse review.

As with many online brokers, a minimum initial balance of $1000 is needed to open a cash account. To open a margin account, an initial funding of $2000 is required.

Also, if you are thinking about opening up an account, you'll want to check for OptionsHouse promotion code offers.

There are usually a few great promotions floating around, including cash incentives, DELL monitors, free magazine subscriptions, and right now a free Amazon Kindle Fire!

Just hit the link below to see a full list of codes!