OptionsXpress is a sister site of Charles Schwab that is designed for frequent option traders.
What Is OptionsXpress?
Charles Schwab purchased OptionsXpress in 2011 to add to its already notable platform. Charles Schwab is known nation as an investment firm and specializes in pretty much all financial ventures. It doesn't matter if you are looking to build your savings for retirement or looking to start trading in the stock market; Charles Schwab is there to help.
The company first began in 1971 and has continued to help people grow their accounts and focus on the future. Charles Schwab is found all over the internet from Facebook to Twitter and everywhere in between.
OptionsXpress focuses on trading options. On the site, you will find a plethora of educational information to help you navigate through the stocks and trade with confidence. It doesn't cost anything to sign up. If however, you deposit over $5,000 into a trading account, you can get 50 commission free trades.
Each trade whether you buy or sell cost $8.95. There is the option for you to sign up and practice virtual trading to see if you have a knack for the stock market. In doing the “Virtual Trading” you are playing with fake money of $25,000.
Unlike market trading of stocks, OptionsXpress deals with penny stocks and options that are considered high-risk investments. OptionsXpress was designed for traders in those markets.
For the options trades, there is a flat fee of $14.95 for 10 contracts. However, if you can maintain 35 or more options trades per quarter you will be able to qualify for reduced rates per trade and contract.
Charles Schwab is a well-known financial and banking firm. Their newly acquired site, OptionsXpress holds true to their beliefs. You will gain a lot of information from the site that will help you to become a better trader and learn the patterns in the stocks.
Unlike other sites that require you to have a minimum account balance, OptionsXpress doesn't do this. You can simply sign up for an account and keep it at $0 until you are ready.
With the Virtual Trading tool, you can learn the ropes without having to waste your money in the process. This is especially alluring for those new to the options trading. Once you get the hang of how things are done, you add your funds and start trading.
While the price per transaction may turn some way, they are still fairly priced considering some of the other firms out there. You may find that OptionsXpress is more for active and futures traders, you can get your hands dirty with their tools that will help you quickly get on your feet.
Options are becoming more and more popular; it seems Charles Schwab wants some of that action. Their platform with OptionsXpress is a way for beginners and experienced traders to meet in one place with a highly recognizable name to boot.
If you are looking to start with options trading, you will get the support and information you need to do so with confidence.
Charles Schwab offers licensed brokers who won't just take your money and run like some fraudulent binary options websites do. You can rest easy using OptionsXpress and jump on the bandwagon of options trading in no time.
Just keep in mind that trading no matter what platform or system you use is a risk. Just because OptionsXpress has a well-known name backing it up doesn’t mean that you will win with every trade. You have to do your own research to figure out what stocks and trades to make.
The one place that OptionsXpress shines is their brokers.
If you are more comfortable trading through a broker than online, you will find the brokers on OptionsXpress to be helpful and mindful of your needs.
In the long run, you may find that trading consistently will be costly. After all, each trade is $8.95. But at least you will have all the tools you need to make smart decisions and will be able to take control of your financial future.