OptionsHouse vs TradeMONSTER

4 stars based on 66 reviews

Compared to many other online options brokers, TradeMonster is a newcomer. These three options trading professionals used trademonster and optionshouse extensive experience to help build a powerful trading platform. The online brokerage was launched in and has quickly established itself as a leading operation in large part due to its trademonster and optionshouse to always making their services better.

With the focus firmly on trading options other products and services are available this broker is well worth considering for any options trader. It isn't the cheapest broker on the trademonster and optionshouse, unless trading in very high volume, but it does offer certain advantages, for example it has an excellent trading platform.

So even though you may not find it to be the least costly there are definitely certain aspects that will draw you in. You can read our comprehensive review of TradeMonster below. We have looked at the commissions and fees, the trading platform, the research and analysis tools, trademonster and optionshouse the quality of the customer service.

There are aspects of Trademonster that should appeal to all options traders. The trading platform is advanced enough to satisfy experienced traders and easy enough to use for beginners. The fee structure makes trading a little expensive for low volume traders, but excellent value for high volume traders. Unlike with many brokers there's no base fee for trading options at TradeMonster.

The cost per trade is based solely on the number of options involved. The fee structure is graduated depending on how many options you trade per quarter. By contrast, the lack of a trademonster and optionshouse fee and the sliding cost per contract makes trading pretty cheap for those buying and selling in large quantities.

TradeMonster doesn't have an annual account fee or on an inactivity fee, but there are a few extra charges. There's nothing particularly unreasonable in their schedule of fees though. At TradeMonster the trading platform and all the associated tools are web-based, so there's no need to download anything. It's one of the most impressive platforms around and it's very fast and responsive.

Beginners will love how easy it is to use and understand everything, while experienced traders will appreciate its more advanced features and the fact that it can be customized to suit personal preferences.

TradeMonster was formed with options traders in mind and this is very apparent. A minor complaint would be that trading can involve having to open a lot of different windows rather than everything being integrated. This can cause a bit of frustration but is by no means a trademonster and optionshouse issue. This opens a much simpler window and allows you to place your orders quickly and easily without any of the bells and whistles.

Spectral Analysis gives you a visual overview of your planned strategies while straegySEEK helps you pick strategies based on methods of trading binary options strategies and tactics abe cofnas pdf you define yourself.

This is especially useful for traders that struggle with discipline or applying a solid strategy. This tool walks you through six steps to help you complete the full process from research, trademonster and optionshouse, executing orders, and exiting positions. Beginners and even intermediate traders could benefit enormously from this. It also has a paper trade feature which allows you use the trading platform to make virtual trades and keep track of your results.

TradeMonster offers most of the research and analysis capabilities you need but there have been criticisms that they aren't as in depth as they could be. The charting tools trademonster and optionshouse certainly a little weaker than many of its competitors and the range of technical studies available is somewhat lacking.

For additional research you can sign up to researchLAB. It's free to use but it's separate from the main platform which is not ideal. There are also paid subscription services for more comprehensive trademonster and optionshouse indicators and more thorough research.

Overall the trademonster and optionshouse and analysis that is available at TradeMonster is certainly sufficient, but it's fair to say it isn't of the same high standard as the trading platform itself. Customer support isn't the strongest point of TradeMonster. They do offer both telephone and email support, but there have been reports of poor responses. This isn't something we have experienced ourselves though, and the broker has made a concerted effort to improve this area.

Perhaps the biggest disappointments are that customer service is not available 24 hours a day and that there is trademonster and optionshouse dedicated technical support. TradeMonster unquestionably gets a lot more right that it gets wrong.

The research and analysis tools, along with the quality of the customer support, could be improved for sure, but they are far from inadequate. The fact that the trademonster and optionshouse platform is of such a high standard means that these issues are really quite minor. The fee structure isn't ideal for small volume traders, but it doesn't make trading excessively expensive either. It certainly provides good value for high volume traders.

Taking everything into account, this broker has something to offer everyone from beginners starting out small to experienced traders who trade very actively.

Who We Recommend TradeMonster to. Additional Services at TradeMonster. Trademonster and optionshouse Service Customer support isn't the strongest point of TradeMonster. Summary TradeMonster unquestionably gets a lot more right that it gets wrong.

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OptionsHouse, a long-time securities broker, is also officially a futures commission merchant, making it one of the few new recent entrants in the space. Now, OptionsHouse customers can trade equities, equity options, futures and futures options with one integrated platform. However, none of this would have been possible if it were not for the successful merger of tradeMonster and OptionsHouse in early With the merger, OptionsHouse shed its platform and migrated all its customers onto the tradeMonster platform.

So, we went with [tradeMonster] and it happened to be more functional anyway. The platform transition went smoother than expected. The tradeMonster platform then supported some 15, customers but proved scalable as OptionsHouse added multiples of that initial customer base to the tradeMonster platform. The firm beefed up personnel and hired Dan Ryba as head of futures in preparation for becoming a non-clearing FCM. OptionsHouse estimates that some 25 percent of its active options and equity traders will or already do trade futures.

It expects to grow organically as current customers who trade futures elsewhere shift their accounts to OptionsHouse while current customers start trading futures. The firm also moved to allay fears about customer fund protections, who still have MF Global and PFG debacles on their minds.

With more diverse trading, OptionsHouse hopes to improve the longevity of its traders. OptionsHouse already claims sophisticated traders in its ranks — meaning those who are constantly tweaking and hedging their positions.

They have access to the platform 24 hours a day, 6 days a week. More access, and more time to manage risk, will lead to a more nimble trader, and similarly help longevity.

Access will further improve in Q3 when OptionsHouse expects futures to be fully integrated into its mobile platform. These active traders are essential as even during recent periods of low volatility OptionsHouse still hit its volume targets. Key to all of this is education.

OptionsHouse knows a reinvigorated educational effort is needed to inform customers of the benefits of its respective products in a portfolio. They have also brought in a third party, Options Animal, to coach customers.

But with the right technology and a plan for growing as a multi-asset class firm with plenty of veteran staff, the brokerage may have the combination to join that upper echelon of retail brokers and carve a niche for itself in the futures space.

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About Author Spencer Doar.