$100 Bonus Promotion from OptionsXpress

OptionsXpress brokerage has a $100 bonus promotion going on now where you can get a $100 bonus when opening a new account with them. To qualify for the bonus you need to follow these steps:

• Open an OptionsXpress account before 12/31/2011 by clicking on the following link: Learn how you can get $100 when you open up a new optionsXpress account.
• Make an initial deposit of at least $500
• Keep an average account balance of $500 for six months
• Execute 3 trades within 12 months of opening your account
• The $100 credit will be posted to your account within 30 days of meeting the terms and conditions of the offer
• The $100 bonus will be deposited into the new optionsXpress account within one month after meeting the terms and conditions of this offer

OptionsXpress has a flat stock commission of $9.95 per share and an options commission of $1.25 per contract ($12.95 minimun). OptionsXpress’ commission used to be $14.95 per trade, so they have recently lowered their commissions to become more competitive. They also have a very intuitive user interface and smart phone apps for iPhone and Android so you can trade from anywhere.

Another thing to note is that OptionsXpress is merging with Charles Schwab so you don’t have to worry about the long term viability of the company as they will be folded under a very powerful brokerage house.

I use my OptionsXpress account for options trading since their commissions are so competitive. I have never really had any issues with them. Anytime I need a higher level of options trading access, I call them up and they add it immediately. Like every other discount broker, they offer a free ACH feature where you can transfer money to and from a linked account. No more sending in checks and waiting for your money to be deposited.

If you are looking to open a new brokerage account and wouldn’t mind an extra $100 in your account then Learn how you can get $100 when you open up a new optionsXpress account.

OptionsXpress Bonus – $100 Bonus With New Account

The current OptionsXpress promotion promotion is still available where you can get $100 when opening a new account.

To qualify for the $100 bonus, you need to open a new OptionsXpress account with a minimum balance of $500 and execute three online trades within 12 months of account opening date. The bonus will be deposited into the new account as a $100 credit one month after those requirements are completed.

For those of you who are unfamiliar with OptionsXpress, they are a full service discount broker based out of Chicago. They were founded in 2000, so they have 10 years under their belt in terms of experience. They offer a flat commission rate or $14.95 per trade, but it gets cheaper the more trades you do a month.

I have had an account with these guys for a bout 5 years now. I actually learned to trade options by using their Options Education Center. They have great customer service and an easy to use trading interface. I also wrote an OptionsXpress Review last year, so take a look if you want more details on their service. If you are looking for a new broker or just deciding to start trading stocks, you should definitely take a look at their services.

$100 OptionsXpress Promo – 2010 [Promotion Bonus]

There is a new OptionsXpress promo where you can get $100 when opening a new account.

You need to open an account (using the link below) with at least $500 by December 31st 2011 and execute 3 trades within 12 months of the account opening. The $100 bonus will be deposited into the new optionsXpress account within one month after meeting the terms and conditions of this offer

Learn how you can get $100 when you open up a new optionsXpress account.

OptionsXpress is a online brokerage that allows you to trade options, stocks, futures, mutual funds, bonds and more in one account. They have a flat rate of $14.95 / trade for stock, but what is even more enticing is that if you are an options trader they charge $15 or a 10 contract option order. Most brokerages charge a flat commission for options then charge an extract dollar per contract. OptionsXpress has included 10 contracts in that price which helps keep commissions low when trading options.

I have an OptionseXpress account that I use for trading options and really like their service. They have an ACH feture where you can link your checking account to move money in and out of your optionsxpress account. They have a fast trade execution which is always important to me when I am trying to put in orders at or near the current stock price.

Another great feature they offer is a virtual trading account where you can practice with fake money. This is nice if you are new to the market and want to play a bit before investing real money.

They have also rolled out an easy to read options naming, where you can easily distinguish your options holdings from your stock holdings. I have never had to deal with their customer service so I cannot comment, however live chat and calling their 1-800 number for help is always available.

If you are looking for a great brokerage and a quick $100 to help with future commisions, then sign up today:
Learn how you can get $100 when you open up a new optionsXpress account.

OptionsXpress Review December 2009

I decided to do a review on OptionsXpress for those of you that have been emailing me about my experiences, so here you go… If you are looking  for the $100 bonus link, check out the OptionsXpress Promotion page.

About OptionsXpress

The first thing you need to understand about OptionsXpress is the lack of the “e”. It is not OptionseXpress, but rather OptionsXpress. However they were smart enough to purchase both domains, so it you mispell it, no worries you will still get there. They were founded in February 2000 and are based out of Chicago, IL. They have been named Best Online Broker by Barron’s in four of the last five years.

OptionsXpress is a full service broker, meaning they allow you to trade stocks, mutual funds, options, open IRA’s, etc. OptionsXpress however focuses their sevices on options trading. So their commissions are based around options and the number of contracts that you buy or sell. For example, their commission to buy 10 contracts is only $15. Most brokerages charge a flat commission then $.50 – $1.00 extra per contract. If you tend to deal in a lot of contracts that can get very pricey!!!

They are a public traded company, trading under the OXPS symbol. They are SIPC insured, but they also have additional insurance that goes above and beyond that limit to cover a maximum limit of $24,500,000 per customer, $900,000 of that can be cash. So it is safe to say that your money isn’t at risk with them.

Account Features:

OptionsXpress has institued a new symbol format for identifying option contracts. This was very helpful for me as I trade a lot of covered calls. So I need to see the underlying stock as well as the associated call written on it easily. Here is a small sample of what I am talking about. (the red text is what I added)

Notice that their option symbols are prefixed with a period. They also order everything by the underlying stocl, so I can easily see what options/covered calls I have tied to which stocks. When you start to deal with tens of stocks and multiple calls on each, trust me, this makes things very easy to understand. This is important since you don’t want to get yourself in a “naked position” by selling a call on a security that is already open.

OptionsXpress has a fast execution time. In the begining when I signed up they had 10 free trades, so I used a few of them to purchase stocks with a limit order lower than the current stock price. Those trades executed immediately after I clicked the “submit order” button. I also monitored limit orders that were slightly above the current tradking price and those as well executed as soon as the “bid” price was the same as my limit price. I have been very happy with the speed at which my trades have been completed.

They offer an ACH feature where you can link a checking account to your OptionsXpress account and move money in and out for free. The ACH takes one day if you submit the request before 3:30PM EST the same day. There is a 2 day hold on the money once it is transfered. A few times their customer service department has made the money available the same day of the transfer. They sent me an email letting me know so I could trade with that money the same day. I was pleasantly surprised that they did that. To set up your linked account you just add your account number and routing number on their ACH setup page. They do a deposit into your account which you need to verify the amount. Once that is done your linked account is set up. No sending in voided checks, no faxing SSN’s or your signature to anyone, very easy!

They also have a Perodic ACH setup, where you can have them deduct money out of your linked account on a regular schedule. This is great if you want to build up your trading account over time automatically. Not many brokerages offer this. Most places you need to initiate each and every request. I love this feature!

Training & Education

They offer a ridiculous amount of training and education. So much that I don’t think I have the time to even cover half of it. This is good if you are trying to get into the market and want to understand how options, futures, bonds, ETF’s and even stocks work. They even have a virtual trading account where you can trade with fake money to see how your trades would have played out had you been trading for real. This is a great tool for those of you wanting to feel comfortable with stocks and options prior to invesitng your own money!

Customer Service

I have never had to deal with their customer services. I make abount 10-15 trades a month with OptionsXpress and so far everything has worked out. Other than the times they emailed me about making my ACH transfers available sooner, that has been the extend I had to deal with them. I did try calling their customer service line to see how long it would take to get to a person and it only took 28 seconds. This is pretty good considering I called around 9am EST on a Monday morning when I am sure things are very busy around there. There is also an online chat feature available Monday through Friday during normal trading hours.

So that is my long winded review for OptionsXpress. Also not that there is a $100 promo going on with them if you are interested. Check out the OptionsXpress Promo page for more details.

Also as always, please share your experiences on OptionsXpress with my by adding a comment below.

$100 OptionsXpress Promo – 2010 [Promotion Bonus]

There is a new OptionsXpress promo where you can get $100 when opening a new account.

You need to open an account (using the link below) with at least $500 by December 31st 2011 and execute 3 trades within 12 months of the account opening. The $100 bonus will be deposited into the new optionsXpress account within one month after meeting the terms and conditions of this offer

Learn how you can get $100 when you open up a new optionsXpress account.

OptionsXpress is a online brokerage that allows you to trade options, stocks, futures, mutual funds, bonds and more in one account. They have a flat rate of $14.95 / trade for stock, but what is even more enticing is that if you are an options trader they charge $15 or a 10 contract option order. Most brokerages charge a flat commission for options then charge an extract dollar per contract. OptionsXpress has included 10 contracts in that price which helps keep commissions low when trading options.

I have an OptionseXpress account that I use for trading options and really like their service. They have an ACH feture where you can link your checking account to move money in and out of your optionsxpress account. They have a fast trade execution which is always important to me when I am trying to put in orders at or near the current stock price.

Another great feature they offer is a virtual trading account where you can practice with fake money. This is nice if you are new to the market and want to play a bit before investing real money.

They have also rolled out an easy to read options naming, where you can easily distinguish your options holdings from your stock holdings. I have never had to deal with their customer service so I cannot comment, however live chat and calling their 1-800 number for help is always available.

If you are looking for a great brokerage and a quick $100 to help with future commisions, then sign up today:
Learn how you can get $100 when you open up a new optionsXpress account.

$100 OptionsXpress Promo

If you missed out on the $500 OptionsXpress Promo, don’t fret as OptionseXpress has a $100 referral bonus going on.

Basically what you need to do to qualify for the promo is the same, open an account (using the link below) with a minimum of $500. Make 3 trades and maintain a $500 balalnce for at least 6 months.The $100 bonus will be deposited into the new optionsXpress account within one month after meeting the terms and conditions of this offerI need to refer you for you to qualify for the $100 bonus.

Learn how you can get $100 when you open up a new optionsXpress account.

I just opened my OptionsXpress account during the $500 promo last weekend. So I really can’t comment on their service. Just so everyone is clear, OptionsXpress allows you to trade more than options. You can also trade stocks just like a regular discount broker.

So far the account opening and funding has been very smooth. I hooked up my checking account via their ACH manager and have already transfered in $500. I am just waiting for it to become available so that I can make my first trade.

Here’s to some more bonus money!

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