OptionsXpress OptionsXpress  

optionsXpress Holdings, Inc. is a retail, online brokerage firm, headquartered in Chicago, Illinois, that provides brokerage services for options, stocks, futures, mutual funds, and fixed income investments in the United States and internationally. Its browser-based technology provides trading tools, enabling investors to identify, analyze, and execute a range of investment strategies.

Virtual Trade, optionsXpress' virtual trading platform, gives customers the ability to test trading strategies and ideas under real market conditions, without putting real money on the line.

The Charles Schwab Corporation and optionsXpress Holdings, Inc. announced on March 21, 2011 that Schwab will acquire optionsXpress.

 

History

  • 2000 – optionsXpress founded by Ned Bennett, David Kalt and Jim Gray
  • March 2003 – The company creates brokersXpress to serve registered representatives, financial planners and registered investment advisors
  • 2004 – Inception of optionsXpress International, which expanded the company's offerings internationally
  • 2004 – optionsXpress' services are extended to Australia
  • 2005 – optionsXpress goes public with an IPO
  • 2005 – The company begins offering its services in Canada
  • 2006 – The company expands its offerings to Singapore
  • 2006 – The company launches optionsXpress Europe
  • January 2007 – optionsXpress acquires Xpresstrade, which increased optionsXpress' offerings to include over 300 futures products worldwide
  • October 2007 – David Fisher becomes CEO (previously served as CFO)
  • July 2008 – Acquisition of Paragon Futures/Open E Cry
  • May 2009 – Acquisition Lanai Partners, LLC/Optionetics, Inc. This acquisition widened the breadth of optionsXpress' educational offerings, which now include workshops, classes (live and online), newsletters, DVDs and strategy support
  • July 2009 – Launch of OX Mobile, allowing OX customers to monitor their accounts from their mobile phones
  • May 2010 – optionsXpress launches Xtend, a downloadable and customizable platform that offers real-time streaming quotes, charts, and news on users’ desktops
  • March 21, 2011 — Charles Schwab Corporation (SCHW.N) announced a buyout of optionsXpress Holdings Inc (OXPS.O) in a $1 billion deal, valuing optionsXpress at $17.91/share.
  • June 10, 2013 U.S. SEC fines optionsXpress, individuals $4.8 mln for naked short sales

Industry awards and rankings

optionsXpress has received numerous top rankings by personal finance publications, including the top-star ranking in the annual Barron's Magazine online broker review for five years in a row. Top rankings have also been awarded to optionsXpress by Forbes and Kiplinger's.

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Details

Status
Foundation Year 2000
License
Trading Platforms Virtual Trade, Walk Limit®, Idea Hub®, Trading Patterns, Streaming Charts, Chains, All-In-One Trade Ticket, Trade and Probability Calculator, Volatility View, oX Social, optionsXpress Mobile
Reliability Rate B-
Authorised Capital
Brocker Fee 8.95
Exchange Fee
Withdrawal Fee
Minimum Deposit
Mobile Trading
Seminars, Education
Phone (888) 280-8020
Address Chicago, IL, USA
Website http://www.optionsxpress.com

User Reviews

   Jane    2016/9/29 19:59   

Horrible Broker stay away, they will find any little reason to restrict your acct and make you waste time sending in documents upon documents and take an eternity to review them


   Fatemeh    2016/9/29 19:59   

I want to trade from Mexico and I am wondering how I can deposite money to my broker account???


   jaya    2016/9/29 20:03   

whats the difference between options express and schwab? dosent OE also say charles schwab next to it?


   Peter    2016/9/29 20:03   

I am considering moving a considerable amount of money from my old 401k into a mutual fund account. Is this a good company to do this with?


   Atom    2016/9/29 20:03   

I have been with OptionsXpress since 2003 and just opened an account with OptionsHouse. I stayed with -Xpress because I was comfortable with their tools. However their fees are way too high for a discount broker especially for non-active traders. OptionsXpress charges a hefty fee for their "mentoring" program. Also, the Xtend platform that is supposed to make trading easier, is horrible. I have found it to be non-responsive when modifying orders and have even failed to log in to the platform multiple times. Market orders are executed in an instant, as with any other broker, but placing orders on the website involves multiple screens and can never be done fast without the risk of costly errors. I would not recommend OptionsXpress for non-professional traders. Everything they offer is available at other brokers with much lower trading commissions.


   brandon    2016/9/29 20:03   

I know there is no surcharge for penny stocks, i trade a lot of stocks under .50 pps, it says on their site that each penny stock trade is "looked over" before it's placed... anybody know what this means?


   Jacob    2016/9/29 20:03   

What kind of fees does optionsXpress charge for inactivity?


BRC    2016/9/29 20:03
Jacob, there are no inactivity fees at OptionsXpress.

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