OptionsHouse Promotion Code and Short Review

Posted on January 5, 2015 by John Schmoll in Brokerage Reviews

If you’re looking for an Optionshouse promotion code there are quite a number of great ones to redeem. As I shared in my full Optionshouse review   they are a solid brokerage to consider if you’re an options trader, an active trader or are simply looking for a low cost option for your investing needs.

Many of the Optionshouse promo codes require less money to redeem than promotions at other online brokerages do. Thus, there is more value with many of the Optionshouse  promotions – which is line with their philosophy of offering great value for the price.

My wife and I have been investing with Optionshouse for several years now as we manage a good part of our portfolio with them. With my experience in the online brokerage industry , I’m able to see a little better than some how brokerages treat their clients and what they have to offer. My experience, overall, with Optionshouse has been a good one. In my opinion, if you’re already considering them as a brokerage to invest with then it only makes sense to use one of these Optionhouse promotion codes to get something back for the business youll be bringing them.

Short Review of Optionshouse

I have done a full review of my experience with Optionshouse in the past, but I’ll provide a shorter review here to go over some of their main features and benefits.

Flat $4.75 stock trades: The commission at Optionshouse is one of the lowest in the industry. The charge a flat $4.75 for stock trades, which is extremely hard to beat. Our other investing is through Scottrade   which I still believe is competitive, but they come in at a flat $7 per trade. If you’re looking to trade options, Optionshouse is tough to beat there as well with two choices – up to 5 contracts for $5 and $1 per contract thereafter, or a flat $8.50 plus $.15 per contract. They allow you to choose which is pretty cool in my book.

Low margin rates: If you like to take advantage of margin, which can be incredibly risky, Optionshouse is among the best in the industry with a rate ranging from as low as 1.5% to as high as 4%. The average margin interest rate in the industry is in the 5-7% range, so this is certainly competitive.

They’re light on fees: I hate paying fees, especially when it comes to investing. They can be a drag on a portfolio. Optionshouse  does not have any hidden fees or annual maintenance fees which is great.

$1,000 needed to open an account: This is fairly standard in the industry, but you only need $1,000 to open an account with Optionshouse. If you’re looking to trade on margin, then it must be at least $2,000 – but that is an industry requirement so you’ll encounter that requirement wherever you choose to invest.

Free streaming quotes: Not every online brokerage offers this, so it is a nice feature to have. If you’re investing at Optionshouse then it’s more likely you’ll want this feature. A few simple clicks after opening your account gets you free streaming quotes, so you can stay on top of the market in real time.

Free virtual trading: This is another nice feature that’s offered at many other brokerages as well. Optionshouse offers a free virtual trading account of $5,000 with an open account so you can use it to test out strategies prior to putting real money in the market.

Optionshouse Promotion Codes to Consider

There are quite a few Optionshouse promotion codes to consider. I like to have variety, and they definitely offer that. There are currently eight different Optionshouse promotional codes available so make sure to pick the one that suits you best. You can find the different promotions below which also provide all the necessary terms and conditions, though I’ve given the basic gist of each. It is also important to remember that each of these Optionshouse promo codes expire at the end of 2015.

With that in mind, you can check out the different Optionshouse promotion codes below:

Trade free for 60 days with $5,000 funded account

If you open a new Optionshouse account with at least $5,000, you qualify for free trading for 60 days, or 100 free trades – whichever comes first. If there are any unused trades you do not receive the cash equivalent back.

Free Google Nexus with $10,000 funded account

If you open an account with Optionshouse and trade at least 15 times within the first 90 days then you will get a free Google Nexus 7. This retails, as far as I can tell, for several hundred dollars.

Free Kindle Fire HDX with $10,000 funded account

This is the same as the Google Nexus promotion, except it’s for a Kindle Fire HDX. If you open an account with at least $10,000 and trade at least 15 times within the first 90 days then you qualify for the Kindle Fire HDX. Like the Google Nexus, this retails for several hundred dollars as well.

Free 12 month digital WSJ subscription with $5,000 funded account

If you open a new Optionshouse account with at least $5,000 and make at least 10 trades within the first 60 days of account opening then you qualify for a free 12 month digital subscription to the Wall Street Journal.

150 free trades with funded account of $5,000

If you open an account with at least $5,000 then you can qualify for 150 free trades to be used within the first 90 days after account funding. Like the other free trade promotions, you do not receive the cash equivalent for unused trades.

Free 10,000 United MileagePlus Miles with account of $5,000

If you open an account with at least $5,000 and make 10 trades within the first 90 days then you qualify for 10,000 United MileagePlus Miles. For those who travel and fly United this is fairly self-explanatory.

Transfer $5,000 IRA & get 100 free trades and up to $125 in transfer fees waived

If you transfer in an old IRA or 401(k) with a value of at least $5,000 then you receive 100 free trades to use within the first 60 days after account opening and up to $125 in transfer fees waived. You simply provide Optionshouse with the statement showing the transfer fees and they credit it back to your account.

Refer a friend who opens with $1,000 and get either 30 free trades of $150 Amazon Gift Card

This is the final Optionshouse promotion code I’m aware of. If you refer a friend who opens an account and funds it with at least $1,000 in the first 30 days, then you qualify for either 30 free trades or a $150 Amazon gift card – whichever you prefer.

Please keep in mind that when it comes to investing you need to go with what fits your needs and specific situation. Please don’t open an account just to get a promotion, especially if the given brokerage doesn’t meet your needs. That said, if you are considering Optionshouse, use one of the above Optionshouse promo codes to get a little value out of bringing your business to them.