In 2007, eOption was created with a clear purpose in mind – low-cost trades combined with fast, efficient execution. Their ultra low commission rates provide a unique value that enhances successful trading with the potential for higher investment yields.
eOption customers know what they want to trade. Whether it is the result of researching the fundamentals of an individual company, tracking charts and patterns, or simply following a recommendation, our clients know what trade they want to place. eOption offers an efficient trading environment to execute trades with a deep discount on commission. The business model is not based on charging high commissions for tools and features clients do not use, or may already have. We appreciate that many of our clients have other accounts, just as most of us like to shop at a few favorite stores, not just one. The value proposition is based on filling the deep discount niche, offering clients the ability to realize immediate significant savings with our no frills approach to trading.
As the name eOption implies, option trading is our expertise. Whether you are interested in selling covered calls or placing four-leg iron condors, our trading platform is tailored to meet your needs. For those interested in a more sophisticated offering, we support multiple direct access platforms for active traders.
While options are certainly our focus, we also offer a full range of investment products and services to a broad range of customers worldwide. We leverage our strengths with the experience and longstanding history of our parent company, Regal Securities, Inc., to provide you with an efficient and affordable experience. Their commitment is to smart investors who know what they want to trade.
eOption is a division of Regal Securities, Inc., a member of the Securities Investor Protection Corporation (SIPC). Your account assets are covered by the SIPC, which protects customers of its members up to $500,000, with a limitation of $250,000 on claims for cash balances. Additionally, our clearing firm,Hilltop Securities "HTS" has purchased Excess SIPC Insurance which covers the net equity of customer's accounts up to an aggregate of $150 million from underwriting syndicates at Lloyd's of London.
The customer securities component, which restricts coverage with respect of any one customer, is a maximum of $25,000,000 with the aggregate coverage of cash set at $900,000. SIPC and Excess SIPC covers accounts of the member firm in the event of a member's bankruptcy or insolvency. Coverage does not apply to losses due to market fluctuation or any decline in market value of your securities. For additional information regarding SIPC coverage, including a brochure, please contact SIPC at (202) 371-8300 or visit www.sipc.org.
|Trading Platforms||eOption Trader, eOption Mobile|
|Address||eOption 950 Milwaukee Ave., Ste. 102 Glenview, IL 60025|
EOption has horrible customer service. I just lost $50 for their inactivity fee, so I just closed my account. They were very rude, as usual. I am waiting to see if they deducted a $100 account closing fee from my check.
I would strongly recommend NOT working with EOption.
They charge $20 for after hours trades that cost them nothing? (And make you call in to do it? Like no one else?)
I haven't placed a trade yet eOption and I started applying three weeks ago. Finally got connected with my bank but I couldn't transfer funds via ACH this Saturday. Why? Don't know yet. I sent them an email. On TradeKing at least I could have started the funding process ... even on the weekend.
So far I'm not too happy with eOption. Like I said. I haven't been able to place a trade yet.
Of course, NO GOOD!!!.
Eoption is crazy and cheap site so it is slower than other site.
Account is suddenly blocked and can not trade without any problem.
In additional, support services are very sucks!!!.
NO ANSWER OTHERWISE LATE RESPONSE.
I do not recommand Eoption!!! like other all people.
Imagine MF Global all over again.
Imagine wanting to die, waiting and waiting for their new ATARI platform to respond, or their phone answering, or your email getting a response, just so that you can die. But no, you will have to stay alive and wish it again the next day and the day after, and ...
This place is designed not for trading but to get you ready for insane asylum, unf...g believable experience!!!
Just go back home to your family and try to die from natural causes my friend, this will be too painful a manner., cruel and unusual
Eoption is the worst possible place you can even consider placing your money.
These people seem like unorganized incompetent crooks that are guaranteed to make you regret doing business with them.
No matter what your style or trading pattern, you will DEFINITELY have more money, prosperity, and peace of mind with LITERALLY ANY OTHER BROKER.
STAY AWAY AT ALL COSTS!
I have been with eoption for 5 years and have no complaints at all. I am amazed at the other negative posts. They have low commissions and have had no problems
TO CHANGE AUTO TRADING ALLOCATIONS, NO WAY ON LINE, HAVE TO CALL. I USE INTERNET EXPLORER KEEP GETTING ERROR MESSAGE. THEY ADVISED ME TO TRY YAHOO OR GOOGLE, WHAT AN OUTRAGE. ALSO AT ONE TIME GAINS KEEPER WAS INCORPORATED IN THEIR SITE. NOT ANY MORE. THEY SEEM TO BE CUTTING CORNERS EVERYWHERE.
WORST customer service EVER! I faxed what the company told me to correct my account, only to receive an email saying its still not all there see the attachment. There was no attachment so I call "customer service" and they can't even figure out what I'm talking about. After saying the same story 5 times I ask for a supervisor or someone who actually knows how to work and listen to what I'm saying. Still no solution soooo frustrating!!
Not sure what all the griping is about - I just opened an account with them as a #2 backup to my higher-commission platform and have had little issues. Went online, filled out the application, transferred $500 using ACH to test drive, and have made three trades - all of which were executed within 1 second. Is it Fido, Schwab or Scottrade? - no. Is it much cheaper? Yes. Is it worth filling out the extra forms to save $5-$7/trade - you bet. This is purely for ticket writing. As account grows and needs change, may move to another platform, but right now fine. If some of the horror stories here do occur, will file a complaint with FINRA and split. Only real issue is that if you're seasoned, you're probably skipping over the "preview order" screen, which you can't get around here. Other nuance is that you keep getting "good faith violation" reminders, so you may just want to deposit $2K and go margin.
I do agree that some of the fees beyond ticket writing are outrageous, so just won't use them.
eoption no longer offers online ACH through their web portal. Anytime you want to perform an ACH you have to call their 1-800 number.
I had an account with them for a couple of years and recently closed it. I will say they are the cheapest out there with commissions, but you get what you pay for!! Everything about them is substandard. Customer service is terrible and they are frequently rude. Trade execution is very slow in comparison to other online brokerages. I would recommend paying just a little more and get better quality, in the end it's worth it. I'm speaking from experience with dealing with other brokerages and Eoption.
Whoa. I had the same problem with the automated system saying they can't verify my identity. I tried to mail in a copy of my driver's license and they claim that they didn't receive it. I will keep bugging them, but I feel like I shouldn't have to keep paying for printing and postage fees, etc. just to open an account that should have already been opened months ago.
I am in the process of opening an account. Customer service responds quickly. the main reason I want to open an account with them is the price. I also have scottrade, but I am somewhat new to stocks. I recently bought a penny stock and stold it after it soared 20% after a few days. BUT, I only invested 500 Dollars to be on the safe side. So, all in all, it cost me 14 Dollars. At E-option it would have cost me 6. If you do this even just 10 times, you have a lot of savings. You can always also have an account with Scottrade and use their research tools. I would not pay more than 10 per trade and that must include free accounts, no quarterly fee etc. Opening the account with them is somewhat of a challenge. But it will be worth the savings. I did not read anything about inactivity fees. Either they now got rid of them or It's somewhere hidde. But 'less than 2 trades' per year..Meaning you need at least one trade. If you only have one trade per year, I would not choose E-option. So that is not a problem, imo.
I must revise my previous comment. I am UNABLE to open an account with them. Who knows why. They claimed online they can not verify my identity. Never happened before. Called and emailed them. I still don't know what to do even after i sent them a copy of my driver's license and even manually signed. Now customer service not responding anymore. The guy on the phone just kept repeating the same thing they told me already. IF they don't want another customer, fine. I'm outta here.
I have been with them for over a year. Customer service is very bad. I rarely ever need help but their website is simply subpar relative to its competitors. If I close the positions before the end of the year I will close the account manually; otherwise, it is ACAT to another broker.
I have 15 years of online brokerage experience and a long list of brokers I am either currently with or have been in the past. If execution is good--and eOption has been good at plain vanilla-type execution--and fees are low, I trade more with that broker. However, it comes a point where there is more to a broker than low fees.
In hindsight, I wouldn't have opened an account with them.
Don't bother with this company - unless you will be placing simple, large quantity orders during market hours to take advantage of their pricing. They don't have basic features like trailing stops on options, or rolling 2-leg option strategies. Not sure why their name is eOption since they can't cater to basic option trader needs. Their system is full of bugs (trades appear out of nowhere and disappear, options strategies get unlinked and then you can't close them without calling customer service, weird errors blocking you from trading, erroneous margin calls... the list goes on). I'm closing my account shortly to try a more expensive option with a better service.
Worst Customer Ever . Do not waste your time with Eoption
worse customer service ever. but they are cheap. ACH hold are up to 10 business days - even though they says otherwise. very poor response to complaints. like they are retarded or something.
For $.25 per contract, their site says you get Direct Access via third-party trading platforms, including Sterling Trader Pro. But you must pay $250 per month for use of Sterling Trader Pro regardless of trading volume. I suppose for very active traders, eOption is THE best deal out there -- $3 ticket plus $.25 per contract is the lowest I have seen anywhere! I am considering opening an account here, so I look forward to reading posts by anyone having experience with eOption and the Sterling Trader Pro platform.
checked - very true
Very expensive extended hours trading commissions
Slow and painful account opening process
Customer service complaints
One email about opening account formal uninformative answer, next just ignored. If no contacts when open account what to expect when some account issues will happened?