In addition to its online analysis tools, optionsXpress produces a daily newsletter with trading ideas and gives customers access to news flow across numerous. This brokerage also offers a unique trade ticket (called All-In-One) that offers a more straightforward and simplified interface for more complicated options strategies.
Figure 3: Overview of optionsXpress\' trading tools.
OptionsXpress also offers a mobile app - OX Mobile - for most smartphone devices. This gives users an easy-to-navigate system that provides them updates and data on their optionsXpress accounts.
Figure 4: Sample screen from OX Mobile application.
As is the case with most brokerages, help is available online and via toll-free phone lines.
The Bottom Line
As has been the case in stock brokerage and, to a lesser extent, futures trading, intense competition has led to substantial lower commission rates for retail traders. While optionsXpress does not offer the absolute lowest commissions, it does offer an extremely reasonable fee structure whereas many lower-priced options brokerages have a host of nickel-and-dime fees for services/conditions that most larger brokers do not charge for at all. Likewise, the account minimums with optionsXpress are very low and reasonable for almost any options trader.
OptionsXpress does not focus quite to the same extent on customer service or advisory services as parent company Charles Schwab, but the company does offer a good balance of services at very appealing commission rates. (For related reading, see E*Trade Brokerage.)
- OptionsXpress - Brokerage Review – Introduction
- OptionsXpress - Brokerage Review – Fee Structure And Tools
- OptionsXpress - Brokerage Review – Additional Features
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