optionsXpress – We take stock of the online brokerage firm

What is optionsXpress?

optionsXpress is a Chicago-based online brokerage firm that was founded in 2000 and has been a subsidiary of The Charles Schwab Corporation since 2011.

What does optionsXpress deal in?

Providing comprehensive brokerage solutions for options, futures, stock, mutual funds and fixed-income investments, optionsXpress aims to maximize returns though the use of the industry's sharpest tools and via educational resources and versatile trading platforms.

Boasting the accolade of being one of Barron's Best Online Brokers of 2014 and rated 4-star by Barron's for the past 12 years, optionsXpress looks like a solid choice for your investment needs.

Is optionsXpress safe?

Accounts are protected by the Securities Investor Protection Corporation, so losses caused by broker-dealer financial failures are protected, but losses resulting from a security's value depreciation aren't.

optionsXpress has also secured excess Securities Investor Protection Corporation coverage at no extra cost to the customer, so that your account is protected beyond the standard limits.

Plus funds are swept into participating Deposit Accounts to then be eligible for FDIC deposit insurance.

Is optionsXpress a good choice?

The company has glowing reviews in the brokerage world and is classed as one of the better choices. The excellent tools on their website play a big part in this, as well as the free research reports and analysis software.

You can also try free virtual trading to try and work out a strategy without losing a cent before entering the real market place.

You can use optionsXpress on the go, as it has its own apps – you can download the Android app here and the iTunes app here.

What else do I need to know?

If you want to know more before you dive in head first, you can attend a free Schwab Investing Workshop at your local Schwab branch office. The seminar covers everything from financial essentials to complex trading strategies.

There are also various online workshops that you can take part in.

If you like this post – subscribe via email or follow us on Twitter.