Home / Work From Home / The Online eOption Platform – Commissions, Fees, Account Minimum Deposits

The Online eOption Platform – Commissions, Fees, Account Minimum Deposits

globe with chart and percentages

eOptions is the ideal platform for cost-conscious beginners wanting to gain experience in using an online broker. If you’ve been thinking about dipping your feet into online options trading, then this eOption review is the best place to start.

This options-centric platform is a benefit to newer traders but, if you are a more seasoned trader this could be a cheaper alternative for placing smaller trades. It has low and unrivaled flat-rate of $3.00 per stock trading commission and only $0.15 per contract. What it will lack in comprehensive tools compared to its competitors it makes up for in user-friendly functions and starting margin rates as low as 5.25%.

What Is eOption?

This company was originally started in 2007 with the focus on low-cost trades combined with fast, efficient execution. The ultra-low commission rates are a unique trait to boost the potential value of successful trading. They are a division of Regal Securities and FINRA/SIPC member.

Another eOption review had them ranked by Barron’s as a top firm for lowest monthly cost for occasional and frequent traders in 2016. Their goals are to maintain low-commission costs, positive customer experience, and provide the essential products at a discounted price.

However, there is a lack of education material available directly on the platform with they reasoning that if you can get data and research for free from other sources, why charge you for something unnecessarily.

If you are interested in hearing what they have to say, their company blog is well maintained, focusing on several topics reflecting their products as well as daily market commentary. There have also been some changes made to the customer service to closer address the previous issues clients faced with support requests.

Online Platform Features

Appealing features of the platform are the recently revamped dashboard and mobile app. The platform has simple tools like streaming quotes and charts, stop and conditional orders, portfolio watch list, independent investment research, and retirement and savings calculators.

Watch this short video that walks you through the dashboard to get a feel for it.

They now have a Youtube channel with several tutorial videos that you can watch to get more familiar with the functions of the platform. The platform is web-based, and there is a desktop version that can be used but does require quite a bit of bandwidth.

Some eOption Fees

  • Commission per options trade: $3
  • Per stock trade: $3
  • Contract: $0.15 each
  • Foreign stocks: $39
  • Mutual Funds per trade: $15
  • Margin rates: 2.75%-5.25%
  • Additional $6.00 broker assisted orders
  • Initial $500 account minimum
  • Inactivity fee (less than 2 trades per year): $50
  • IRAs annual fee: $15.
  • No commission-free ETFs
  • Listed Bonds for the first 25 are each $5
  • Each additional bond after 25 is $3
  • Extended hours trading fee is $25 up to 5000 shares and $0.003 shares after that.(Extended hours trading has to be done with a broker but, it won’t cost you any additional broker fee.)
onlineBroker Optionsbase fee price perContract Amountminimum trading typesavailable
e Option $3.00 $0.15 $500

Stocks, options,mutual funds

E*Trade $9.99 $0.75

$500

Stocks, options, futures,mutual funds, FOREX
Interactive Brokers min $1.00 $0.70 $10,000

Stocks, options, futures,mutual funds, FOREX

TradeStation $4.99 to $7.99 $0.20 to $0.70 $5,500 Stocks, options,mutual funds, futures
OptionsHouse $4.95 $0.50 $0.00

Stocks, options,mutual funds, futures

Pros of The Platform

First and foremost, it has extremely low cost commissions and margin rates and an easy to navigate dashboard. A definite improvement has been made from the previous user interface. This is great for newcomers to options trading and who are concerned about cost but also more advanced traders looking for a good alternative to buy small batches.

The costs are some of the absolute lowest out there compared to other online brokers which have commission costs between $4.95 and $14.95. Their customer service is generally friendly and accommodating.

Cons of The Platform

While I think that eOptions is cost-effective, it does lack more in-depth tools.

Other eOptions reviews have pointed out that while there are other products that they offer, it’s mainly only good for options trading. If you like to actively trade in stocks, then this shouldn’t be used as your main platform but as a possible supplement.

Further, there is a lack of educational resources.

Wrapping Up

money and up arrow

Overall, I think that if you know what you want to trade, this platform has tons of potential if you are looking for a low-cost alternative to options trading.

The low price of eOptions options trades is great if you are new to trading or plan to trade in small batches.

If you are willing to do the research into trading ahead of time you won’t need to worry about the site’s lack of educational resources. Plus you can watch Youtube videos to get familiar with the functions of the platform. There are more resources available on the website than in previous years.

But if you are looking for a platform with more comprehensive tools and functions another more expensive platform may be your trade-off.

CLICK HERE TO VISIT THE PLATFORM

The post The Online eOption Platform – Commissions, Fees, Account Minimum Deposits appeared first on Personal Income.

Click Here For Original Source Of The Article

About Carol St. Amand

Carol St. Amand

Check Also

The Best Binary Trading Signals Providers and Indicators

Binary options signals services inform traders immediately when a profitable trade is available. Many traders use these signals to aid in their binary options trading. To say simply, these signals help in making out the deals, which tend to give more financial profit. As an active trader in this field, you may have signals through […]

The post The Best Binary Trading Signals Providers and Indicators appeared first on Personal Income.

Leave a Reply

Your email address will not be published. Required fields are marked *

css.php