OptionsHouse’s earns a 2.3-star rating from 6 reviews, showing that the majority of traders are somewhat dissatisfied with trading platform.
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provided false information to clients
Before the initial transfer to E*TRADE, the company sent out legal documents explaining what action that could be taken prior to. In one of the documents, it explained the steps to be taken in order to object the transfer to E*TRADE, not be charged a transfer or closing account fee, and how the account will be deleted.
I mailed a letter to OptionsHouse's HQ and explained that I was objecting my transfer and how that I had processed started a transfer process with a new firm. I also mentioned how I would have all assets transferred out by the given date and time that was mentioned in the legal document provided by them.
Now, the negative commentary. When the transfer of assets was initiated to the new firm, they charged me the $75.00 transfer fee that they claimed would not be charged. I tried contacting customer service through their chat interface, a phone call, and even sent an email. I waited for over an hour on the chat interface and never received a representative. As for the phone call, it just dialed. Never got an answer. After 2 weeks past, I had to reach out to the SEC and get their input on the situation. That same day, OptionsHouse emailed me back and said that they would credit the $75.00 to my account when the transfer started to E*Trade.
Leading into the E*TRADE subject, I asked the customer service representative about what would happen to my account during the transfer. According to his feedback, my account will be purged during the transfer to E*TRADE since I completed all items. As of today, August 7, 2017, I was provided false information where I now have a fully active account with E*TRADE. I have reached out to E*TRADE and addressed the issue on how to go about this. I hope that they can correct this issue quickly and not harass their clients such as that of OptionsHouse.
options trading
I have a Cash Account at OptionsHouse where I trade Weekly Options. For some reason, on at least 3 occasions, they have placed automated trades on my account without my permission.
Today, Friday, July 1, 2016, I spoke with a manager named, Rick (he refused to give me his last name), who told me that if they don't place the trades, my account would be liable for $160, 000.00 if exercised. My open trade was for 20 SLB 80.00 07/01/16. Price was at or below 79.20 (and rising and falling although it has not risen above 79.37 in the last few hours). I do not have a margin account and the only gain from these automated trades is that OptionsHouse gets a commission by placing these trades on my account.
I would like to get a refund of at least, the trading costs incurred due to these automated trades, and any gains I could have received from selling the options myself.
Thank you for your assistance in this matter.
Sincerely,
Ellaine Brennan
Account # 5PD91863
[protected]@gmail.com
refer a friend program
These clowns are liars. I've referred a friend, who signed up and followed all the protocols, but due to the fact that they don't care about customer service, they will not review my case nor give me the referral bonus.
I'm taking my money elsewhere.
Is OptionsHouse Legit?
OptionsHouse earns a trustworthiness rating of 11%
Not worth the risk. Protect yourself and your money by staying away from OptionsHouse.
Exercise caution when using optionshouse.com as it may have lower quality content or a poor user experience, leading to fewer visitors and lower traffic.
We have identified high risk financial services or content on OptionsHouse's website. It is recommended that you use trusted sources and do your due diligence before engaging with any offers or services.
We conducted a search on social media and found several negative reviews related to OptionsHouse. These reviews may indicate issues with the company's products, services, or customer support. It is important to thoroughly research the company and its offerings before making any purchases to avoid any potential risks.
However ComplaintsBoard has detected that:
- We found clear and detailed contact information for OptionsHouse. The company provides a physical address, phone number, and 2 emails, as well as 3 social media accounts. This demonstrates a commitment to customer service and transparency, which is a positive sign for building trust with customers.
- The age of OptionsHouse's domain suggests that they have had sufficient time to establish a reputation as a reliable source of information and services. This can provide reassurance to potential customers seeking quality products or services.
- Optionshouse.com has been deemed safe to visit, as it is protected by a cloud-based cybersecurity solution that uses the Domain Name System (DNS) to help protect networks from online threats.
- Adult content may be available on optionshouse.com. It is important to be aware of potential risks and to use caution when accessing or engaging with such content.
making money on the other side of customers trades
Recommend avoiding optionshouse.com brokerage
My friend has an options account with optionshouse.com
He purchased some out of the money long dated aapl puts yesterday.
Optionshouse manipulated the purchase price of his options so that they made approximately another 10% profit on his purchase between the bid and the spread in a relatively illiquid market for that particular strike price and date.
Secondarily, optionshouse took the other side of the trade today and started selling puts into his strike price which resulted in further depressing the value of the puts he purchased yesterday.
While these actions may not be illegal, they are unethical. Optionshouse is effectively "betting" against their own customers interests in the options markets.
The value of his options dropped roughly 15% from purchase price on two days when the combined drop in the price of apple stock was approximately 3% and when the value of 95% of all other options in the same time period increased approximately 10-12%.
If anyone has had similar experiences with optionshouse please feel free to send me an email message at [protected]@gmail.com.
The complaint has been investigated and resolved to the customer’s satisfaction.
misuse of funds
These people are unethical, in the least, and possibly even criminals.
Please do your homework! So far I have found recent reviews at http://moneyning.com/review/optionshouse-review/)
I trade stocks so I have no experience with their options tools, however, since I trade extended hours, futures information is extremely important AND they do not offer futures info.
When I opened the account, I got 100 free trades; with 42 free trades remaining, I withdrew my funds for reasons stated below. However, in April 2010, I decided to give them another shot. Since I hadn’t used the account since Dec. 2009, I called to see if the account was still open and active and they said “yes”. On April 8, 2010, I utilized their online ACH transfer and initiated an ACH deposit; since we both utilize JP Morgan, OptionsHouse received the funds on April 9, 2010. Then, in an email that I received dated April 12, 2010, at 10:38 p.m. (presumable CDT since they are in Chicago), they tell me that the account will not be “reopened” AND that they will not return my funds until April 19, 2010.
Over the last 4 years I have used TD, Scottrade, Etrade, Schwab, Fidelity, OptionsXpress, and OptionsHouse; with the exceptions of Fidelity, Schwab and OptionsHouse, I found that each offered something that excelled above the others. HOWEVER, I have to say, that OptionsHouse is the most pathetic of them all. Although I experienced that every single one of them was deceptive in one way or another, OptionsHouse takes the cake. For me, it is simply not worth it to pay $2.95 a trade when you really can’t get the trades you want because of poor execution, clunky platform sceens, mishandling of funds, extremely limited customer service, and only two hours extended hour trading.
FURTHERMORE, I found that OH practice “conversion” and “unjust enrichment” by withholding ACH deposits for 3-5 days after they have “cleared” or by holding your funds for 3-5 days after you request them (disregarding any settlement issues which would delay even further). As far as I am concerned, they are outright crooks.
Did I mention their stock trading tools are so elementary that they are virtually useless?
In a nutshell, they 1) had closed the acct. but said it was open, 2) allowed me to do an online ACH deposit, 3) received my funds on April 9, 2010, 4) now say the acct. was closed and won’t be reopened, AND 5) won’t return my funds until April 19, 2010. SO they use my money, for free, for 10 days! On top of that, I have been trading between 10k - 40k shares of C (usually several times a day), C has been on the move, and I don't have my trading money to trade.
OPTIONSHOUSE is absolutely THE WORST discount broker I've dealt with in over 20 years of trading. They always hold on to funds when a withdrawal is requested for some BS reason. This usually revolves around the local post office not recognizing the mailing address. How is it possible that I have received my voter registration, vehicle registration, and regular mail without any problems, but Optionshouse has issues? What makes Optionshouse different? As many of you have pointed out: they are holding on to funds for extra days and earning interest. There is definitely a class action suit here.
Getting my funds back from a broker i traded with was a big problem until i discovered a strategy on how to withdraw my funds, and that was after loosing $30, 000 in a month.and now, i even make $10 in a day trading.i discovered most people find it as a problem now to withdraw their funds or have a problem in trading.i enjoy teaching them and also help them get their funds back.contactjohnwalton1414@gmail.com for more info
My husband passed away 5/6/16. I have called multiple times and emailed to have paperwork changed to my name. No call backs. No emails. I am being totally ignored by Optionhouse. It is shocking as Fidelity, Scottrade, etc. have reached out immediately with change of name paperwork and their condolences.
I should have seen all these complains about them. They charged me $750 of monthly fees for Professional real time data feed without sending anything in the mail or email. Some popup about account migration and now all these hidden fees. They don't even mention it anywhere that they have been charging all these fees. Completely unethical company. I will never do business with them.
Anyone that got screwed by optionhouse lets find a way to get togather and file a mass filing complaint with the sec
I agree with all the negative complaints listed they are all right 100 percent ! optionhouse is a big scam and I truly hope everone of you that got screwed by them FILES A SEC complaint they are know as OM securities LLC DBA optionhouse FILES A SEC COMPLAIN on then now just here the SEC if they get to many can walk right in with agent suspend everthing whiles they go through there books apex to they are a** holes I got screwed for a 1.00 ach yes 1.00 on a IRA/ROTH I though I was doing a transfer to the account from my broker account with them cash on had section none the less it ACH my bank for 1.00 charge declined becase it was suspious and it was ! they must have been testing my account none the less the next day they issue a margin call for 30 againt my account putting the IRA account in to -30 three to 4 days calling there CSR WHAT CRS ! they don't have any that answer the phone none the less finaly chat I go over it they tell me we issued a refund to the account, year right the next day the -30 still there they said no look at your broker account PLEASE ! its not here come on this is not about my broker account . its the IRA/ROTH then today again I get a CSR chat Only he says all you have to do is make a deposit to the IRA account and will nix the 30 we charged you not what there CSR said the day before he said we will remove the 30 call in the IRA BS man this company can not be trusted at all SEE THE CHAT transcipts I have attached the CSR will lie to you just to get you off the phone or chat THEY CAN NOT BE TRUSTED with your money steet clear and get this they pissed me off enough i sold all in my broker account and in the process of getting my money out they stop all withdrawls by me from my broker account holding the Broker account hostage until they get the -30 in the IRA SCAMMMERS wish the SEC would get off there ### and light them up for this crap and pull there lic
Optionshouse seems to have forgotten why small account holders trade options and has declared war on them. I opened a small account (approximately $3k max) about 3 years ago with them, and I have traded ONLY options. About 3 months ago, I was assigned an option trade that had gone against me, seriously depleting my small stake. I figured, tough, but that’s the life of a trader. This past week, however 2 winning trades were closed out by Optionshouse less than 4 hours before expiration. That was a bit much to take, so I filed a complaint with BBB. The response from Optionshouse in brief was: “you don’t have enough money in your account for us to suck up if we decide to assign you the options…and..we can do that if we feel like it; it’s in the fine print of the agreement you signed when you opened the account”. I am in the process of being an ex-customer. Below is their response to my BBB complaint in full. Read and advise yourself.
On March 6, 2015 at 12:22:59 p.m. CST, the day of weekly options expiration, our Risk Department took market action by liquidating your 2 BBY 2015 Mar 6 C @ 38.00 (Weekly) Call options at $1.61 and your 2 EA 2015 Mar 6 C @ 55.000 (Weekly) Call options at $1.50 and we were fully within our right to do so. We took market action in your account for the following reasons:
OptionsHouse denies that, as you state, "I have been arbitrarily closed out by OptionsHouse at very unfavorable terms". The process by which we monitor our customer accounts for exercise and assignment risk was provided to you and was at all times available on our website. http://www.optionshouse.com/risk/expiration/
OptionsHouse had no idea where Best Buy Co., Inc. ("BBY") and Electronic Arts Inc. ("EA") might have closed on March 6, 2015. Based on volatility and other market factors, it could have easily finished in the money thus adding potential exercise risk in your cash account.
The policy as detailed on our website accurate. On the day of weekly or monthly options expiration in an effort to mitigate potential exercise and assignment risk OptionsHouse monitors and in certain cases takes appropriate market action to reduce risk.
Your total account value as of the close on March 5, 2015 (the day prior to expiration) was $677.65. Had your 2 BBY 2015 Mar 6 C @ 38.00 (Weekly) Call options and your 2 EA 2015 Mar 6 C @ 55.000 (Weekly) Call options finished in the money by more than $0.01 on March 6, 2015 all 4 contracts would have been auto-exercised by the Options Clearing Corporation ("OCC") thus creating a $17, 922.35 debit your account.
Simply stated, you did not have the cash value or securities equivalent value to cover the potential debit resulting from the auto exercise on your long options.
By signing your new account agreement on December 21, 2012, you acknowledged that you read and understood (emphasis added) the "Customer Agreement" and all account agreements, that governed your account. In a section titled "Option Exercise and Expiration, " the Customer Agreement discloses the following:
"When Customer owns an option that is about to expire "in the money, " OptionsHouse or Apex may, in its sole discretion or in accordance with the Rules and Regulations, and without notification to Customer, close out the option. OptionsHouse or Apex may take this action in order to prevent an exercise that would require the purchase or sale of the underlying security for which Customer does not have sufficient funds. This is in no way to be construed as an obligation on OptionsHouse's or Apex's part to sell or exercise such options on Customer's behalf."
hardwoodsurfer, you must be getting your **** sucked cause OH is absolutely ridiculous. I'm so pissed I can't even talk about it any more...
I have used them for four years and had nothing but great service. The fees are super low and the options trading tools are excellent. Frankly, some of you do not seem to be options traders based on the things you are complaining about. Seriously, if you want to buy and sell stocks and use a brokerage to pay bills you should go to a scotts or etrade. OH is for options traders.
I called the customer service this morning to find out "how to place price limits on my investments for selling purposes". For instance if the Stock A is being traded at $10.00 per share I was looking to place a limit to sell at $8.00 per share if the price falls at 8.00.
Instead OPTIONHOUSE representative (SAM) misinformed me by telling to select the LIMIT (Duration: section in the Order Ticket). Therefore the unexpected happen; my stocks were sold at current market value. It just sucks, especially when the intention was not to sell but rather to sort of protect investment by limiting the price fall. Instead you hear excuses such as "May be the rep. misunderstood you"...really? I was misguided by the Trading Desk Technical support on how to set the SELLING PRICE. So instead of setting the price I END UP SELLING THE STOCK...NO more COMMENTS the reader should judge itself.
Unacceptable and irresponsible behavior from OPTIONHOUSE.
I will remove all my investments effective immediately.
unstable platform
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.
The complaint has been investigated and resolved to the customer’s satisfaction.
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
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.
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.
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.
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Overview of OptionsHouse complaint handling
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OptionsHouse Contacts
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OptionsHouse phone numbers+1 (877) 598-3190+1 (877) 598-3190Click up if you have successfully reached OptionsHouse by calling +1 (877) 598-3190 phone number 0 0 users reported that they have successfully reached OptionsHouse by calling +1 (877) 598-3190 phone number Click down if you have unsuccessfully reached OptionsHouse by calling +1 (877) 598-3190 phone number 0 0 users reported that they have UNsuccessfully reached OptionsHouse by calling +1 (877) 598-3190 phone number
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OptionsHouse emailswebinars@optionshouse.com74%Confidence score: 74%
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OptionsHouse address10 S. Riverside Plaza, Suite 500, Chicago, Illinois, 60606, United States
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OptionsHouse social media
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Checked and verified by Nick This contact information is personally checked and verified by the ComplaintsBoard representative. Learn moreMay 24, 2024 - View all OptionsHouse contacts
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