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OptionsHouse / unstable platform

1 United States Review updated:
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Boy, I thought I'd save money using this brokerage firm. Their trading platform is unstable. Sometimes it's up, sometimes down. The trading platform will sometimes take trades which are more than your account value. The JOKE is that this options trading website does not trade quarterly options, which I found out when I wanted to roll to the June quarterly. They said they don't trade them because they would have to be called in. The Reps are also rather short and kurt in their customer service skills. I had a horrible experience trying to trade their. Good Luck.

Va
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Comments

  • Ba
      9th of Jun, 2008
    0 Votes

    I just started with two trading accounts. I opened a Think or Swim Account first. Optionshouse I opened because I would save money, but I won't save money if I can't do any trades.

    It takes a while for an ACH transfer to get into my account and then they insisted it was their policy to hold onto it for a while. Personally I think it's just a banking game. Typically when I do an ACH transfer from a savings account to a checking it takes about three days.

    When my money is finally free to trade with I was unable to do the spread trade I wanted to. I have to change my suitability rating.

    My point is you don't save money on commission fees if you lose money you would've made, trading options.

    I think I'm better off closing my account and using only my Think or Swim acccount. Think or Swim has impressive software and training on how to use it.

    The optionshouse software sometimes doesn't work. I have problems getting money out of the account, transfers don't work. I press the submit button and never get the print screen I'm supposed to get. Before I know it I have several transfers in their queue and I have to call to cancel them.

    This weekend I couldn't get into my account at all at optionshouse. It made me a little anxious, being that they have a sizable amount of my money.

  • Di
      19th of Sep, 2009
    0 Votes

    OK, well. It is really freaking cheap, and yes, its give and take but if you are buying a bunch of contracts, when its flat rate 10 bucks its like the USPS of options brokers. It is usually reliable, and sometimes a bit slower than you'd like but its cost effective and great for bulk orders. Also, the screeners are absolutely great. Call and put spread investigators are great, and the live chat is a plus too if you dont wanna get the phone out and wait to get someone on the line (which I rarely do when I do call). I am up 60% in 3 months thanks to their cost savings and great tools. Tech analysis could be better though. So I use my scottrade account for that. Note: Always stick with two brokers to utilize the tools they have. It is a must.

  • Re
      1st of Oct, 2013
    0 Votes

    Here's my situation. Hope they get my information back very soon. As of now, I have $100, 000 less in my account today than I did yesterday due to a glitch in their system. Lovely.

    Please wait for a customer service representative to respond.
    All CSR agents are currently assisting other customers. Thanks for your patience. A CSR agent will be with you shortly.
    All CSR agents are currently assisting other customers. Thanks for your patience. A CSR agent will be with you shortly.
    All CSR agents are currently assisting other customers. Thanks for your patience. A CSR agent will be with you shortly.
    You are now chatting with Rachael H
    Welcome to OptionsHouse, how may I help you today?
    Me: The "Positions" portion of the page is blank for POAGX. Do you know why?
    Me: As in no market value or cost being shown
    Me: It was filled out yesterday
    Rachael H: What is your OptionsHouse Account Number?
    Me: #####
    Rachael H: Do you currently hold an Optionshouse account?
    Me: yes, see above
    Me: #####
    Rachael H: Sorry
    Rachael H: Can you please verify, for security purposes, your Date of Birth?
    Me: ####
    Rachael H: I do not but I can have my tech team correct this
    Me: ok
    Rachael H: Thank you for waiting. I'll be with you in just a moment.
    Rachael H: I will email you once that info is available.
    Me: I'd prefer to wait.
    Me: This problem is making it impossible to trade.
    Rachael H: Im sorry are you trying to trade this position?
    Me: No, but right now I am very nervous showing that my balance is now $100, 000 less than yesterday.
    Rachael H: you are saying this was correct yesterday
    Me: It's not just a visual issue. I can't trade it or do anything.
    Me: Yes
    Rachael H: I'm sorry for the delay. I'll be right with you.
    Rachael H: You may want to contact our trade desk to determine if their is an issue with this holding.
    Me: There isn't an issue with the holding. There is an issue with your system.
    Rachael H: I was under the impression that it had never been populated on our Platform not that it was and is not now.
    Me: The position is there, along with the quantity, but the market value and cost are blank.
    Rachael H: yes, but also under symbol in the quote line the platform shows symbol is not found.
    Rachael H: I opned a ticket with my tech but you expressed this is prohibiting your trading
    Me: That is a system problem. It is a good symbol.
    Rachael H: if that is the case you should contact our trade desk
    Rachael H: I do not have a time frame as to when our tech team can correct the issue if it is indeed a platform issue
    Me: I just called. They have to pull in their mutual fund information. Hope it's soon.
    Rachael H: I will be right with you.
    Rachael H: Thank you for waiting. I'll be with you in just a moment.
    Rachael H: Ok I can email you once complete
    Me: ok
    Rachael H: Thank you for visiting. Please contact us at anytime.
    Thank you for chatting!
    Chat session has been ended by the customer service representative.

  • Al
      31st of May, 2017
    0 Votes

    Hi,
    I bought 20000 MSTX shares on Option House on 4/27/17 for $2660.00 hopping to sell them next day.
    I opened my account Friday 4/28/17 to find my MSTX shares become a M031850 shares and the value was Zero.
    I contacted Option House to ask them what happened, they told me about the merge between MSTX and SVRA, and I will see my shares next Monday.
    I checked Monday 5/1/17 but I didn’t find SVRA shares on my account, same thing was Tuesday 5/2/17 until market close at 4:00 PM.
    On Wednesday 5/3/17 I found my 285 SVRA shares for the cost of $9.317 and Option House did the split yesterday 5/2/17 at 6:30:31 PM.
    On Wednesday 5/3/17 SVRA stock market value opened at $7.98 and closed at $6.47 and kept going down.
    NASDAQ announced that MSTX merge to SVRA market effected date is 4/28/17.
    Instead, I found some investors on twits pages got their SVRA shares on Monday 5/1/17 and they were able to sell them with gain.
    By this action Option House made me lose money, and I don’t know if this is right or wrong!
    And for you as a big company, do you accept that?
    And what is your advice to me?
    Ali Aziz
    aliaziz1358@yahoo.com

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