In early 2011 it was announced that OptionsXpress would be taken over by industry stalwart Charles Schwab. OptionsXpress has a clean and functional website, the text is easy to read and everything is easy to find.
Schwab say they intend to operate OptionsXpress as a completely separate entity within the group, so don’t expect any imminent changes, although long term you have to think they will merge.
It has to be said they are not the cheapest broker around, they make up for that to some extent with excellent customer service, but you have to think that some of their fees are a little on the expensive side, and they’re unlikely to get any better now that Charles Schwab have bought them out. Not so with OptionsXpress, they make everything clear and easy to understand, there’s no need for a magnifying glass here.
No forms to print and no identification to fax off, if only all brokers were this easy, a big thumbs up to OptionsXpress for this. If you’re a significant investor and trade thousands of stocks at a time, then the steep fees are unlikely to make much of a difference to your bottom line.
A beginner or trader with limited funds would be better off choosing TradeKing who have a more than adequate trading platform for your needs but offer significantly cheaper fees and commissions.
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