This post is part of our series on IRA & Brokerage bonuses. Every Tuesday we share another bonus with you.
The Offer
Not to be confused with optionsXpress, OptionsHouse is offering a “special, limited-time” bonus of 150 commission-free trades for stocks or options for new customers who open and fund a brokerage account with $5,000 within 30 days of account opening.
Standard trades at OptionsHouse are $4.95 for stock trades and $0.50 per contract for options trades, which competes with TradeKing as being the lowest cost brokers covered in our brokerage bonus series.
150 Commission-Free Trades
To receive the $150 offer, you must do the following:
- Open a new OptionsHouse brokerage account online. Input the promotion code 90FREE.
- Fund the account with at least $5,000 of external funds within 30 days of account opening.
Rules:
- A specific expiration date for this limited-time offer is not cited.
- The 150 commission-free trades for stock or options must be executed within 90 days of funding the new accounts. Unused trade commissions expire after that point and cannot be redeemed for cash.
- Offer is not transferable or valid for internal transfers.
- Offer cannot be combined with other offers.
- Offer does not apply to listed and OTC equities priced below $1.00 per share.
- After the offer period expires, OptionsHouse ‘s standard pricing will apply
- Contract, exercise, assignment, execution, exchange, or other fees may be excluded from the commission-free offer.
- Investing involves risk.
The Verdict
As this is a free trade bonus as opposed to a cash bonus, your incentive to participate is likely reduced unless you were already inclined toward investing $5,000 with OptionsHouse.
This trade bonus also best benefits a fairly active trader who can leverage the 150 free trades within the allotted 90 days from the time of funding. However, 90 days is still more ample time to execute these trades when compared with TradeKing’s free trade offer which must be completed within 60 days. If you are seeking to invest $5,000 or less and receive a cash bonus rather than a trade bonus, see the optionsXpress, Motif Investing, and Capital One Sharebuilder offers for other alternatives that may suit your goals and requirements.
Barron graded OptionsHouse 4.5/5 stars in its “Best for Options Traders” in the 2015 Best Online Broker Ranking. OptionsHouse also received 5/5 stars for its mobile application as well as for portfolio analysis and reports.
Do you have experience with OptionsHouse? Let us know in the comments below!
