OptionsHouse and Interactive Brokers both are online investing companies. Superior commissions are offered by Interactive Brokers than OptionsHouse unless you rarely trade, trade penny stocks or large sized orders. To avoid $10 per month fee, IB has $30 per month in commissions’ requirement. For very active, professional traders, Interactive Brokers is well suited. You are definitely better off with OptionsHouse, if you are new to investing, due to bad customer service of IB. OptionsHouse is also great pick for brokerage IRA account due to no IRA and maintenance fees.
About OptionsHouse:
The official website of the OptionsHouse is www.optionshouse.com. OptionsHouse is an online investing company that provides many options like what you can do with the reasonable rates that you pay. The main headquarters of the OptionsHouse is located in Chicago, Illinois in the Chicago Board of Trade. OptionsHouse, L.L.C. is a subsidiary of proprietary options-trading firm PEAK6 Investments.
The main aim of the OptionsHouse is to provide savvy investors in options and stock the power and functionality of traditional software-based trading tools with the portability of an online trading platform through the extensive use of leading edge web technologies. OptionsHouse’s Investors have access to the company's online brokerage with the member of FINRA and SIPC where they can trade stocks, options, mutual funds and bonds. FINRA (Financial Industry Regulatory Authority) is the primary regulatory body of the securities industry.
About Interactive Brokers:
Www.interactivebrokers.co.in is the official website of the Interactive Brokers which was founded in 1977. In the United States, Interactive Brokers Group, Inc. (IB) is an online discount brokerage firm and the main headquarters of the Interactive Brokers is situated in the Greenwich, Connecticut, USA. It operates most of major stock, futures, bonds, forex, and options exchanges worldwide. It also consists of many subsidiaries around the world. Under the ticker symbol NASDAQ: IBKR, the Company commenced a public offering on 4 May 2007 on the Nasdaq exchange.
Together with its subsidiaries, Interactive Brokers Group, Inc. is an automated global electronic market maker and broker specializing in routing orders and executing & processing trades in securities, options, futures, foreign exchange instruments, bonds, and funds as a member of over 80 market destinations and trading venues all over world.
Trading Fees and Investment offers by OptionsHouse vs. Interactive Brokers:
|
OptionsHouse | Interactive Brokers |
| Two plans for options:1. Up to five contracts for $5; each additional contract $1 2. $8.50 + 0.15/contract rate (great if you trade over 10 contracts) | Options commission: $0.70 per contract plus exchange fees |
| Mutual Funds: $9.95 | Mutual funds: not available |
| Orders for U.S. treasury bonds and listed corporate bonds are accepted by phone | - |
| Investments: stocks, options, mutual funds, bonds, ETFs | Investment products: stocks, options, ETFs, bonds, futures, currency transactions |
| Minimum to open account: $1000 for cash account; $2000 for margin account | Minimum to open account: $10,000 |
Pros of comparison between Interactive Brokers and OptionsHouse:
| OptionsHouse | Interactive Brokers |
| Lowest stock commissions in the industry | Excellent stock commissions for orders with fewer than 600 shares |
| Efficient trading tools | Professional trading platform |
| No account minimums. Minimum initial funding size is $1,000 for a cash account and $2,000 for a margin account | Competitive margin rates |
| No volume requirements and inactivity fees | - |
| Free check-writing privileges | - |
| No fee IRA account | - |
| No surcharges for large orders, penny stocks and extended hours trading | - |
Cons of comparison Interactive Brokers and OptionsHouse:
| OptionsHouse | Interactive Brokers |
| Might not be the best for beginner investors | $10,000 minimum to open most accounts |
| - | $10/month minimum monthly commission requirement. Because of that it does not make sense to have account with IB if you are not an active trader |
| - | $10/month for IB market data feed (waived if trade commissions are more than $30/month) |
| - | Trading platform designed for professional traders, not the best choice for beginning investors |
| - | It gets expensive to make trades with over 1,000 shares |
| - | Many complains about snobby customer service |
| - | No mutual funds offered |
| - | $1.20 fee to modify or cancel an option order |
| - | * Merciless margin calls - IB doesn't care if you'll get completely wiped out |
Video of the OptionsHouse Review from Youtube:
Source: www.brokerage-review.com
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