About Us Frequently Asked Questions

From funding your account to trading futures, weve got your questions covered. Find the answers you need here.

Learn more about our company and how we can assist you with all of your trading needs.

• What is optionsXpress?
• How long have you been in business?
• Where are you physically located?
• How are accounts protected?
• Are the funds in the Deposit Accounts insured?
• How do I contact optionsXpress during business hours?

What is optionsXpress? optionsXpress is a pioneer in online stock, options and futures brokerage service to the self-directed investor. We were founded by an experienced management team dedicated to providing investors with an innovative, leading-edge trading environment. Back to top How long have you been in business? We were founded in February of 2000, and we opened our web site on November 22, 2000. Back to top Where are you physically located?

Our main office is at the following address:

311 West Monroe Street, Suite 1000

Chicago, Illinois 60606 Back to top How are accounts protected?

optionsXpress is a member of SIPC. the Securities Investor Protection Corporation, which protects against losses caused by the financial failure of the broker-dealer, but not against losses resulting from depreciation in a securitys value. Your optionsXpress accounts are protected by SIPC up to $500,000including up to $250,000 for cash claims.

Additionally, on our own initiative and at no additional cost to you, optionsXpress has secured excess SIPC coverage offering your account additional account protection beyond the standard SIPC limits. optionsXpress’ excess SIPC policy covers in the aggregate up to $100,000,000 subject to a maximum limit of $24,500,000 per customer, $900,000 of which may be cash.

Back to top Are the funds in the Deposit Accounts insured?

Yes. Your funds will be swept into participating Deposit Accounts and eligible for deposit insurance by FDIC up to a total of $250,000 principal and accrued interest per depositor in most insurable capacities (e.g. individual, joint, etc.) when aggregated with all other deposits held in the same insurable capacity at a Bank. For example, funds in the Deposit Accounts at a Bank held by an individual are insured up to $250,000, and funds in the Deposit Accounts at a Bank held jointly by two or more individuals are insured up to $250,000 per joint owner ($500,000 per account).

For IRAs and certain other self-directed retirement accounts, funds in the Deposit Accounts are eligible for deposit insurance up to $250,000 principal and accrued interest per depositor in the aggregate. For more information, please see our Cash Features .

Back to top How do I contact optionsXpress during business hours? You may call us at 888.280.8020 or 312.629.5455. You may also chat online with customer service or trading staff using our Live Help. Back to top

Trade from your computer at home or on the go, and follow your securities in real-time.

• Do you offer any trading advice?
• What trading products does optionsXpress offer?
• What types of educational services are available?
• Can I get streaming quotes?

Do you offer any trading advice? No. Our accounts are for self-directed investors. We employ brokers to assist you with technical questions, as well as other general questions relating to strategy and trading. Additionally, our representatives may provide educational assistance, and FREE broker-assisted trades, but they do not provide any trading recommendations. Back to top What trading products does optionsXpress offer? We offer trading in futures, mutual funds, stocks, equity and index options, ETFs and bondsall on ONE platform. Back to top What types of educational services are available? In addition to a full range of FREE curriculum-based tutorials and on-demand webinars, we also offer live webinars and occasional on-site workshops. Back to top Can I get streaming quotes? Yes. optionsXpress customers have access to unlimited tick-by-tick streaming real-time quotes for equities, options and futures. Back to top

Opening an account is easy. Find out all you need to know before you begin.

• Is there a minimum amount required to open an account?
• How do I transfer an account into optionsXpress?
• Do you open accounts for people outside the U.S.?
• Why do I have to disclose personal information to open an optionsXpress account?
• What are the requirements when I provide a government photo ID?
• What is the difference between a cash account and a cash/option account?
• What level of options trading will a customer be approved for?
• How are accounts protected?
• If I open an account online, do I still need to send in paperwork?
• Can I fax or email my account paperwork?
• What types of accounts do you offer?
• When will an account be ready for trading?

Is there a minimum amount required to open an account? We have no minimum deposit required to open an account; however, the account must have enough buying power to pay for a trade before it is placed. Please review your trading strategy and fund the account to the appropriate level. Again, no minimum is required to open a cash account, but a $2,000 minimum is required to maintain a margin account. Back to top How do I transfer an account into optionsXpress? An Account Transfer Form will need to be completed and returned to us with a copy of the most recent statement showing the title of the account, the account number, and an asset list. A signed account transfer form is required for each account being transferred to us. For more detailed information on transfers, please see the Account Transfer FAQ. Back to top Do you open accounts for people outside the U.S. Yes, upon our review and at our discretion we accept unsolicited accounts from non-U.S. residents. Although our account opening process is geared toward opening accounts for persons with a U.S. domestic address, we will review and open foreign accounts depending on the country of residence and at our discretion. Please note that we are a U.S.-based broker. We offer only U.S. exchange traded products and we accept only U.S. currency in our customer accounts. Back to top Why do I have to disclose personal information to open an optionsXpress account?

Due to regulatory requirements and the United States governments efforts to fight terrorism and fraud, U.S. brokerages have been required to obtain, verify and record information about persons who open accounts and certain individuals related to them, including account signatories (in the case of entity accounts) and persons authorized to trade on behalf of accounts (LTAs ).

For more information please see the Customer Identification Program Notice from FINRA .

Back to top What are the requirements when I provide a government photo ID?

All three of the following requirements must be met when providing a photo ID:

• Valid non-expired government ID
• Evidencing nationality or residence
• And bearing a photograph or similar safeguard

Back to top What is the difference between a cash account and a cash/option account? The Cash Account does not permit options trading. The Cash/Options account will allow options trading, but only fully-paid-for options, like long calls or puts, cash secured puts, spreads, etc. Any IRA that trades options would be a cash/option account. Back to top What level of options trading will a customer be approved for?

Clients will be authorized to trade options after being reviewed based on experience and financial background among other criteria. Accounts will receive one of the following option trading levels:

Trading Level Basic Definitions