OptionsXpress

Good option trading platform

I started with option express and stayed with them since 2009. They are very helpful and sportive world wide. This is a huge advantage with them, due to the fact that many other online brokers will refuse to create an account for non US citizens.

Achimutz

Tools
Customer Service
Value

Sloppy Execution

Position lost half the value after a stop was put in two days before it was filled. I like the basic charts and some of the other research tools. If you want to research it here that's fine but I wouldn't execute a trade with them and expect to come anywhere near what you put the trade in for.

Aesychlus

Great for beginners - not for active traders

Great starter platform and really great order entry on option strategies. However, commissions are quite high and if you do any sort of volume, commissions will eat into your profits.

TeeLee

Tools
Customer Service
Value

OX is a great platform

I've been with OX for about the last 10 years or so... sorry I don't have the exact date memorized :)

Certain tools are crucial for my analysis as spread trader, and some things are personal preference (cosmetic). OX tools are great, particularly the trade & probability calculator and the Dragon scan for IV skews. I prefer the layoutorientaion of the risk curve and probability analysis to others I've seen/used. They have also added past earnings to their streaming charts, which is very helpful for a quick snapshot of past reactions if you don't already have the historical data. I'm not a big fan of the charts themselves, but that's personal preference. I do still use them, but have another charting service that I rely on.

Also, in a day and age where customer service is typically anything but... I've never had the phone ring more than 2-4 times before a live rep answered. Being able to dial up the trade desk directly to confirm a strategy exit structure, and discuss it with a knowledgeable option broker is great. I've never had a bad phone experience, other than it being a trade that I goofed and was kicking myself while on the phone.

If you are trading 1-2 contracts, the commissions aren't 'great'. However, 8 - 10+ and they are very reasonable. Further, dependent upon your account size and trade frequency, you can negotiate your own rate (which I have).

The only critique I have is sometimes their earnings calendar doesn't update frequently enough, and I find errors pretty frequently with regard to confirmation of dates. I've also found mismatched company names/tickers. It's a data entry problem from my perspective, and maybe the task is assigned to rookie brokers to cut their teeth? :)

All in all, great platform, great tools, and great support. Make sure to check out their Virtual Trading platform too... great for practicing the strategies as you learn and tweak them!

PoolSideSunshine

Tools
Customer Service
Value

Great pricing

Opotionsxpress is great on commissions. Overall, i just use charting from a different broker and this to execute trades. Great on the p/l when rates are so low. thank god.

Daren007

Tools
Customer Service
Value

I like their Auto-trade programs

First, the cost per trade is very low, and frankly, that is what is most important to me. Second, they have some pretty good auto-trade newsletters to choose from. I follow a couple of them and have been making $$ every month.

CaliTrader619

Tools
Customer Service
Value

My favorite discount brokerage

Best stock and options brokerage. Their fees are extremely reasonable. Maybe the lowest option fees in the industry? The trade platform is easy to use, not too complicated like TS Ameritrade's. Good site for trading options.

Greybeard55

Tools
Customer Service
Value

S**tiest software EVER!

Java based platform - so unreliable. The charts and other streaming windows close themselves down, they black out when you open another Java screen like the options chain for example.

Charts did not update for 2 minutes after the open this morning meaning I didn't get in to any trades at the open. Yesterday the entire options data feed just failed and I couldn't get in then either.

Every morning I have to re-open all the windows individually and manually resize and place them across my monitors. At least with the crappy IB it remembers the desktop layout and puts all windows back in the monitors you last left them in. Such an obvious oversight.

Watchlists are not customizable enough (cannot add the Greeks to watch them change in real time) in fact, I have 4 pages of notes to send to OX as recommendations for how they should update their software. Order entry is tiresome with too many confirmation screens before and after the order is placed. At the time of placing an order you cannot see the current option price so you are essentially going in blind.

I could go on but I won't - at least there is a live chat feature which works well so there are always people to explain your never-ending problems to! That's good!

Trading options is hard enough without having to fight with the software every day.

OX - redesign from the ground up - take a leaf out out of eSignal 11's book...

Irukandji

Tools
Customer Service
Value

Great overall

The mobile app is improving slowly, and I'm blessed to have 9.99 for 10 deal with them on options, great tools, great platform.

Dvdback23

Tools
Customer Service
Value

Reasonble

I have used Optionsxpress for several years, that are good, gotten better over the years, but they are not as good as Thinkorswim, the XTEND platform was an improvement but it still needs a lot of work.

Imman5

Tools
Customer Service
Value