S. Wade Hansen

Broker Review: optionsXpress

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optionsXpress also offers a full suite of analytical tools and educational information. You can run stock searches, monitor today's market action and analyze option Greeks without ever having to leave the optionsXpress platform.

Plus, you can access your optionsXpress account from any computer with an Internet connection because it is a Web-based platform, not a client-based (software that lives on your computer) platform.

Of course, client-based platforms are typically a little faster on their fills and such, so you might experience some sluggishness in your order-entry process using the Web-based platform, but that shouldn't be much of a concern unless you are an extremely active day trader who controls huge positions.

Pros and Cons

To summarize what we've discussed above, the following are the pros of working with optionsXpress:

• Access to a broad selection of investing products within a single account.
  
• Access to an extensive suite of analytical tools and investment education material<.br>
• Easy-to-navigate trading platform.
  
• Access to your account from any computer with an Internet connection.

The following are the cons of working with optionsXpress:

• Relatively high commissions when compared to the bargain-basement brokers.
  
• Order entry can become tedious if you are an extremely active day trader who is placing multiple trades per day.

Related articles:

• Opening Your Options Trading Account
• 4 Tips for Picking the Right Options Broker
• 7 Reasons You Need a Broker Who Specializes in Options
• 5 Tips for Moving Your Brokerage Account