optionshouse...... the worst

V

veryFatcat

I have multiple accounts with different brokers, and options house by far is worst I ever had, first when you place a spread order it takes for ever to get filled, and I placed the same order with a different broker and got filled before options house got to my order.

Thursday I got an email from the risk dept. telling that I have to close my open spread that was going to expire worthless the same day, it look's they just want to close the position to get extra fee's.

I hate them, I lost many few times with them because of the polices that they force on you in the middle of your trade.
 
here's what they sent to me

"Dear OptionsHouse Customer,

Our records show that you still have one or more open expiring options positions in your account ending in ****. You must have sufficient funds on deposit with OptionsHouse to hold stock positions resulting from exercises or assignments. In order to avoid a margin call for an exercised or assigned position that exceeds your buying power, please take IMMEDIATE market action to close out your position(s). Failure to do so may result in OptionsHouse taking market action on your behalf. OptionsHouse will not be held responsible for any trading losses that result in your account from the options expiration process, your failure to take action in your account, or OptionsHouse's action in liquidating, covering, or otherwise closing your positions.

Please do not respond to this email. Please call the Trading Desk at, (877) 653-2500, if you have any questions or concerns.

Regards,

OptionsHouse Trade Desk"
 
traderlux said:
I am thinking of opening an account at trademonster, any thoughts?
regards
More...

The clearing broker for OptionsHouse and TradeMonster is APEX so if you're not happy with some aspects of policy, accounting and execution at one, you're not going to be happy at the other.

Definitely test drive the TradeMonster platform before sending money. I think it's OK for infrequent transactions (I only have retirement money there) but I wouldn't like it with a much more active taxable account - I find it way too slow.
 
Sorry, Fatcat. But this seems like another rant by an underfunded trader. We hear the same things about from underfunded IB customers. IB is even more draconian with margin liquidations. Better beware.

From my experience with Optionshouse, my spread fills do "feel" kind of slow. But unless we see unbiased metrics, we really don't know. IB has published third-party reports for producing the most price improvements on the fill.

If I may ask, has anyone had experienced getting spread fills on the eOption web interface? It is very simplistic, but they seem to provide the best commissions on large spreads 20x20 and up.
 
I opened an account with e-options three years ago and never funded it, I have accounts with TD and Trade station, I just saw today that the fee per contract is .2
 
Tradestation's value proposition is is automated trading, data and great charts.

You are paying extra to get those things.
 
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