BrokAIr Reviews

Optionshouse Review

"Optionshouse has been surprisingly successful at keeping costs low for its customers despite the fact that it does not offer some of the advanced tools that other online brokerages provide." Rhetorical tabloid style question: Is Optionshouse sacrificing its customer's investments for a bigger profit margin?

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Optionshouse Overview

Optionshouse is an online brokerage that provides traders and investors with a platform to buy and sell stocks, options and futures. Founded in 2005, the company is based in Chicago, Illinois and is a subsidiary of E*TRADE Financial Corporation. Optionshouse is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Pros

Cons

Founders

Optionshouse was founded by Paul Stephens and Craig Daniel in 2005. They had previously worked together at TD Waterhouse, where they were responsible for designing and launching their award-winning trading platform. Stephens currently serves as the CEO of Optionshouse and Daniel is the CFO.

Public Opinion

Optionshouse has generally received positive reviews from its customers. Most people praise the ease of use of the platform, the low fees, and the excellent customer service. There are some complaints about the limited product offerings and the lack of margin trading, but overall people seem to be satisfied with their experience.

Newsworthy Events

In 2015, Optionshouse was acquired by E*TRADE Financial Corporation for $725 million. This acquisition gave E*TRADE a strong presence in the options market and expanded their offerings to include futures contracts. In 2017, Optionshouse launched its mobile app which allows customers to trade on-the-go. In 2018, Optionshouse received the highest score in customer satisfaction in J.D. Power’s U.S. Self-Directed Investor Satisfaction Study.