OptionsXpress

*Est. $9.95 per trade for up to 1,000 shares
Reviewed
March 2011
Email
OptionsXpress

Pros
  • Cutting-edge trading technology
  • No account minimum
  • Mobile apps
  • Top-notch investor education
Cons
  • Limited banking services
  • Higher commissions than some
 
 
Where to Buy
  • optionsXpress
 
 
 
 

OptionsXpress originally specialized in options trading, but it has diversified and offers a wide range of investment products and an education center with webinars, live events and virtual trading. Stock trade commissions are $9.95 for trades of up to 1,000 shares. If you want many of same amenities and banking services as well, Fidelity gets top ratings from reviewers.

Our top reviewers, SmartMoney magazine, Kiplinger.com and Barron's, include optionsXpress in this year's reviews. TopTenReviews.com and Stockbrokers.com also review and rate the site.

Where To Buy
 
 
optionsXpress
 
 
 

Our Sources

1. SmartMoney.com

The 2010 SmartMoney survey ranks optionsXpress 11th of 17 online brokers, and names it the worst broker in the category of banking services. The firm gets a 5-star rating for its trading tools, however. The review notes that the mobile applications offered by optionsXpress now have options quotes.

Review: SmartMoney 2010 Broker Survey, Neil Parmar and J. Alex Tarquinio, May 20, 2010

2. Barron's

The 2010 online broker review by Barron's ranks optionsXpress fifth out of 22 brokers. The review also lists optionsXpress as the third-best broker for long-term investors and the fourth-best for options traders and international traders. OptionsXpress gets high ratings in virtually every category except costs.

Review: Newest Trading Play: Screen Savings, Theresa W. Carey, March 10, 2010

3. Kiplinger.com

Kiplinger.com doesn't have a full review of optionsXpress, but it does note that optionsXpress and Zecco are its overall winners on costs. According to the article, these two brokers offer "competitive prices on their complete menu of services."

Review: The Best of the Online Brokers for 2011, Elizabeth Ody, Feb. 2011

4. TopTenReviews.com

TopTenReviews.com ranks optionsXpress number one. This year the overall review includes 18 brokers. According to the reviewer, "optionsXpress is still a stellar online broker."

Review: OptionsXpress Review, Editors of TopTenReviews.com

5. Stockbrokers.com

Stockbrokers.com ranks optionsXpress fifth of the 23 brokers included in this review. According to the reviewer, "optionsXpress has great investment education resources and also provides a virtual trading platform for its traders." This online broker gets high marks in every area except costs.

Review: Online Broker Review 2011, Editors of Stockbrokers.com

Online Brokers Runners Up:

Charles Schwab *Est. $8.95 per trade

7 picks including: Barron's, Forbes…

Scottrade *Est. $7 per trade

5 picks including: Barron's, SmartMoney.com…

TD Ameritrade *Est. $9.99 per trade

5 picks including: Barron's, Kiplinger.com…

E*Trade *Est. $9.99 per trade

4 picks including: Barron's, Keynote Systems…

OptionsXpress *Est. $9.95 per trade for up to 1,000 shares

3 picks including: Barron's, Kiplinger.com…

Interactive Brokers *Est. $0.005 per share

2 picks including: Barron's, Rival SC7600 VersaWare…

TradeStation *Est. $6.99 to $9.99 per trade

2 picks including: Barron's, Rival SC7600 VersaWare…

Vanguard *Est. $7 per trade and up

2 picks by top review sites.

OptionsHouse *Est. $3.95 per trade

2 picks including: Barron's…

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