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Wednesday, November 11, 2015

Should You Open Account in OptionsXpress?

Based on my trading experience with OptionsXpress, I honestly would not recommend this broker as they have deleted my account. This happened over two years ago. Here is the story.

I have pulled all of my money to buy a new laptop, which was so important that time to write my thesis. My old laptop was broken due to HD bad sectors and other disfunctioned built-in components.  I therefore needed extra money from my account in OptionsXpress. But, when I logged in again to fund my account several months ago, my account has been said to be deleted by their CS. Besides, the CS told me that I had to make a new account.

Their registration requirements for a new customer is also extremely difficult. And, although they have deleted my account, they still email me notifications of stocks performance that I was watching.

Well, reasons behind my account deletion because their Term of Service has been changed. Or, do they want to save more money for their server that handling inactive accounts with no balance? I don't know. IF you might be the same as well as my personal experience with OptionsXpress, and you plan to open an account there, then I suggest that you choose other stock or option brokers.