OptionsHouse Review

Is OptionsHouse Scam? Is OptionsHouse Safe and Legitimate Brokerage Firm? Are Your Money, Assets and Investments Protected?

Is OptionsHouse Safe?

Website readers sometimes ask us the following questions: Is OptionsHouse a fraud? Is OptionsHouse safe to keep money, assets and investments? Is OptionsHouse FDIC/SIPC insured? The short answer is that OptionsHouse is a very safe, legitimate online broker. We have had account with the firm since 2009 (our job is to review online brokers), never had any problems, and also transferred one of our IRA accounts to this company.

OptionsHouse Inc. is a member of FINRA/SIPC. FINRA (Financial Industry Regulatory Authority - http://www.finra.org/) is the largest independent regulator for all securities firms doing business in the United States. Its chief role is to protect investors by maintaining the fairness of the U.S. capital markets.

SIPC (The Securities Investor Protection Corporation - http://www.sipc.org/) either acts as trustee or works with an independent court-appointed trustee in a missing asset case to recover funds. The statute that created SIPC provides that customers of a failed brokerage firm receive all non-negotiable securities that are already registered in their names or in the process of being registered. SIPC is an important part of the overall system of investor protection in the United States. While a number of federal, self-regulatory and state securities agencies deal with cases of investment fraud, SIPC's focus is both different and narrow: restoring funds to investors with assets in the hands of bankrupt and otherwise financially troubled brokerage firms.

It means that all OptionsHouse's brokerage accounts are insured in case of brokerage firm failure, very similarly to the way bank accounts are insured by the FDIC. The insurance is limited to $500,000 per customer, including up to $250,000 for cash.

OptionsHouse: The Company

OptionsHouse, LLC was founded by PEAK6 Investments, LP in 2005. OptionsHouse utilizes tools and methods derived from PEAK6′s extensive trading platforms; the same state-of-the-art technology used to trade large-scale positions on every U.S. exchange.

PEAK6 Investments, LP was founded in 1997 and is headquartered on the original Chicago Board of Trade trading floor. PEAK6 Capital Management LLC, an affiliated market making and proprietary trading firm, is a provider of liquidity to the options market.

OptionsHouse BBB (Better Business Bureau) rating: A-

Total Closed Complaints - 17: Problems with Product/Service - 15, Advertising/Sales Issues - 1, Billing/Collection Issues - 0, Delivery Issues - 1, Guarantee / Warranty Issues - 0.

OptionsHouse offers very low stock/ETF/options/mutual fund commissions: $4.95 per trade for stocks and ETFs, and $10 for no-load mutual fund transactions. Read more about the company in OptionsHouse Review.

OptionsHouse Promotion for New Accounts

Trade Free For 60 Days when you Open a New OptionsHouse Account

This article was updated on 2/24/2015.

Please share us with your friends

Related articles

Online broker promotions:
Copyright ©2009-2015 Brokerage-Review.com. All rights are reserved.
The stock brokerage firm you select is solely responsible for its services to you, the user. Brokerage-Review.com shall not be liable for any damages or costs of any type arising out of or in any way connected with your use of a brokerage house's services. Brokerage-Review.com has partner relationships with other companies. As a partner, we often provide reviews of products and services based on our personal opinions. We are not compensated for positive reviews. While we strive to make sure that the information we present here is true and accurate upon publication, the rates and offers that we share with you may change without notice, so please visit the sites we reference for more up to date information.