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optionsXpress
General Description: OptionsXpress is the online option & stock brokerage for self-directed investors who want to use options to protect portfolios, increase investment income, and maximize returns on stock movements. With its suite of proprietary, innovative tools, optionsXpress reduces the mystery and complexity of options and ensures that users can identify, evaluate and then execute suitable options investment opportunities. David Kalt, James Gray, and Ned Bennett came together to form optionsXpress in late 1999, pouring their 30 years of option industry experience into the firm. optionsXpress.com is wholly owned by optionsXpress Holdings, Inc., a public company (NASDAQ: OXPS) and is a member of FINRA. Features: Everything on the optionsXpress site is refreshingly simple and powerful, accessible, and in plain English. Options are clearly the star of the show--and it shows. Opening an account takes less than five minutes online. Their service is excellent: Live help is available online, plus access by phone, and prompt email responses. Trading: Custom order entry screens for options, spreads, covered calls, stocks, bonds, futures, futures options, or mutual funds, including contingent orders, one-cancels-other, and advanced orders. Tools: Screeners, Xtrends, Dragon, StrategyScan, Pricer, Trade Calculater, Virtual Trading…and much more. Additional Services: Auto-trading with option advisors; Cash management services and cash sweep; Free Investment tools include Briefing.com news, data, and analysis, Schaeffer's Research, optionInvestor, and optionetics commentary and lists; Volatility and Stock Charts; Option Theoretical calculator; Option market screeners; streaming quotes; position (P&L) graphs; market recap email updates. Options Service: $1.50 per contract for 10+ contracts, or $14.95 minimum per trade (examples: 5 contracts=$14.95, 10=$15, 20=$30) No Hidden Fees. Email us at info@optionsxpress.com to find out how you might qualify for a special rate as low as $1.25 per contract* . Each leg of a spread represents a trade. Most complex options combinations and spread orders can be processed online. optionsXpress then directly routes them to the exchange floor to be traded as spreads, not legged into. Stop orders on options are allowed. They offer other unique option services including conditional orders, volatility charting, P&L charts, auto-trading with option advisors, and free online analytical tools. See complete commission schedule for specific margin and spread guidelines. Stocks: $14.95 up to 1,001 shares - $.015 per share @ 1,001 shares and above. Margin rates as low as 3.75% (subject to change). Email us at info@optionsxpress.com to find out how you might qualify for a special rate as low as $9.95 up to 1,001 shares. Account Minimum: No minimum deposit required for a trading account, but minimum of $2,000 required for a margin account. For more information, click here. Rebate on account transfer fees. optionsXpress will credit the account transfer fee charged by third party brokers for all inbound transfers. Quotes: Free unlimited Real-time quotes, including real-time option charts, news, and pricing chains. Streaming quotes, charts and news are available at no additional cost. Miscellaneous: optionsXpress is 100% web-based, so it requires a browser (IE 5.0/AOL 6.0 or higher recommended). Web orders preferred, but no additional fee for telephone orders. No major system failures to date. Risk Disclosure: Options involve risk and are not suitable for all investors. On-line trading has inherent risks due to system response and access times that vary due to market conditions, system performance and other factors such as your Internet provider. An investor should understand these and additional risks before trading. Please read Characteristics and Risks of Standardized Options. |
