Online Stock Trading

OptionsHouse Review

OptionsHouse Review

OptionsHouse History

Options House LLC was established by PEAK6 Investment in the year 2005. The platform is built with the PEAK6 technology. Options House will help basic traders to improve their skills and become a professional trader. Several tools are originated from the PEAK6 trading platform. The technology used in performing the US exchange trading is in PEAK6 is also used in Options House. The PEAK6 Investments was established in Chicago in 1997. PEAK6 Capital Management LLC offers a proprietary trading platform and provides liquidation to options market.

Options House Accounts

Options House accounts are fully insured. It is a part of the Securities Investor Protection Corporation (SIPC). The Securities Investors Protection Corporation (SIPC) offers its members an insurance coverage for up to $500,000. It also offer a cash claim insurance of up to $100,000. It also holds the excess SIPC insurance that worth for $2,000,000,000. Each customer has a maximum insurance coverage of $900,000. The excess SIPC is a bonus protection that is offered by the SIPC. Certain terms and conditions apply to the SIPC. The SIPC offers insurance coverage for securities and cash loss. However, it does not offer insurance coverage for depreciation and fluctuation of the market value and losses in trading that is caused by your own trading decision.

Funding your Options House Account

Options House allows you to make a deposit into your account through a personal check. When sending the personal check to Options House, make sure it is make payable to ionsHouse, LLC. You should reference your account number and phone number at the back of the check. Normally, the check will clear and deposited into your account in 3 – 5 days. Options House has certain requirements on the types of checks that can be used to make deposit into your account. The types of checks that are not accepted for funding your account are government checks, temporary checks, starter checks and etc. Home equity lines of credit checks cannot be used for depositing into your account. Cashier check can be used as a way to make deposit into your account. If you use a cashier check, you must type the remitter name on it. The remitter name should not be written on the cashier check.

Check Withdrawal in Options House

You can make a check withdrawal via the Options House Trading platform. To withdraw a check, you must select on the Transfer Funds tab. The Transfer Funds tab is located at the bottom of your account screen. After you have clicked on the Transfer Funds tab, you must select Check Request. After that, you should specify the amount of the check withdrawal. After you have specified an account, you should click on the Next button. You should take some time to review the information you entered. If you want to change the withdrawal amount, you can click on the Edit link. If you are satisfied with the changes, you should press the Submit button. After you have submitted the form, the staff will send the check to the address you provided in the account. The Transfer Funds tab is not available in the IRA accounts. If you want to make check withdrawal from an IRA account, you must call 18776532500.

Options House Rates

Options House does not set a minimum requirement for the trade frequency, trade size and account asset. The rate plan can be chance once daily. If you trade for 10 and lesser contracts, you should use the up to 5 for $5 plan. If you trade for more than 10 contracts, you should use the $8.50 plan. The up to 5 for $5 plan and $8.50 plan offer a flat $2.95 rate for stock trades. You can change the commission plan by going to the Manage Accounts section. After that, you must click on the Manage Account Preferences Link. Next, you should go to the Rates tab. Under the Rates tab, you must select a rate and click on the save button. If you made the changes in 7:30 , the changes will be reflected in the next trading day.

Linking Two Accounts

Options House allows you to link a new account with existing account. To link two accounts, you must select the Open an Account tab. After that, you should click on the Login in to create an additional account link. After you have login, you will be redirected to the online application to link your new account and existing account. You can also link a new account with an existing account that has a different owner. If you want to link a new account with an account that has a different owner, you must send the Online Access Account Linking Agreement to Options House. You also have to send a copy of the Limited Trading Authorization. Options House allows you to link more than two accounts. If you want to link more than two accounts, you must complete the Individual Online Access Account Linking Agreement. Alternatively, you can complete the Business Online Access Account Linking Agreement. If you complete the Business Online Access Account Linking Agreement, you must also send the Limited Trading Authorization.

Getting an Electronic and Hardcopy Statements

Customers can receive two types of statements including electronic statements and hard copy statements. The electronic statements will be available at the end of each period. The staff will email you about the new electronic statement after it has been prepared.

If you have signed up for the electronic statement, you can still request for Options House to send the hard copy statement by the end of each period. To receive the hard copy statement, you must login to your account and click on the Manage Accounts button. After that, you should click in the Manage Account Preferences link. When a new window appear, you should check the receive paper statements box for each corresponding account that you would like to receive a paper statements. After that, you can close the window. The staff will send you a confirmation in one business day.