Industry-leading options tools:
OptionsXpress provides some of the best options trading tools in the industry, designed to help you identify and analyze opportunities, execute trades, and monitor your options portfolio. Xtend, the company's primary trading platform, provides continually updated market information and easy access to a variety of powerful research and analysis tools. The Dragon, an investment search tool, helps you track down the options that best fit your investment criteria. To automate your search, you can use The Screener to continually canvas the market for new trading opportunities. If you're still working out your investment strategy, fire up StrategyScan, a tool that helps you identify an investment strategy that fits your goals, trading experience, and risk level. Whether you're a beginner in options trading or a seasoned veteran, optionsXpress offers a number of proprietary tools to help you take full advantage of market opportunities.
Superior mobile trading app:
The OX Mobile app puts key features of the optionsXpress trading platform in the palm of your hand. Available for all major smartphone platforms, this app allows you to monitor live market data, check your watch lists, execute trades, and manage your account wherever you go. You can even access powerful charting tools and track down investment opportunities with The Dragon search tool. Though the OX Mobile app does not provide a virtual trading function like the apps offered by some other brokers, it still ranks near the top of the industry, garnering very strong reviews from its users.
No minimum to open an account:
One big plus for prospective clients is that optionsXpress doesn't require you to make an initial deposit to open an account. This means you can get right into the company's trading platform to do some hands-on testing and take a look through the research materials without any financial commitment. Whether you're new to trading or just new to optionsXpress, the ability to open an account with no investment is a nice feature to have that not even their parent company, Charles Schwab, can claim.
$25,000 virtual trading account:
In another offering to new traders, optionsXpress will provide you with a fake money account that allows you to carry out trades with $25,000 in virtual cash. With full access to all of the company's trading and analysis tools, research materials, and educational resources, you can really put optionsXpress to the test. This is especially important for new traders, since you are able to build up your expertise and test out your investment strategies without putting any of your money on the line.
Access to quality educational materials:
Strong educational materials are key to learning how to use a new trading platform effectively and to mastering general trading skills and advanced trading strategies. The good news is that optionsXpress has a clear commitment to educating clients by offering resources for traders at all skill levels. The company's online Education Center places an extensive collection of articles, on-demand video tutorials, and webinar courses right at your fingertips. Beginners will really appreciate the video tutorials designed to walk you through the ins and outs of the optionsXpress trading platform, which will help you get started trading in no time at all.
No base fee for trading options:
Unlike some of their competitors, optionsXpress doesn't charge any base fees on options trades. Other leading brokers assess a base fee of up to $9.99 on every options trade, in addition to $0.75 for each options contract per trade. Though optionsXpress only assesses fees on the number of contracts included in a trade, you do have to pay a minimum fee for each options trade you make.
Free Investors Business Daily subscription with account:
A cool added bonus for new optionsXpress clients is a free 13-month subscription to the electronic edition of the Investor's Business Daily newspaper, which is a trusted resource for timely investment news and analysis. Alongside the optionsXpress daily newsletters full of market news and analysis, your Investor's Business Daily subscription will help ensure that you stay on top of important events that may affect your investment positions.