Anyone using OptionsXpress?

[mb1]

Im a bit unclear as how to fund my account? It mentions sending checks -- too f$%king slow. And it also mentions ACH -- whats that?

Cant I just have funds from commonwealth savings account linked to the optionsexpress account?

I have heard of Interactive Brokers recently but seems to be a few people having problems with them.

Other than that how can I trade US market?

 

[onemore]

Ring them they have a Aust office

 

[sails]

Im a bit unclear as how to fund my account? It mentions sending checks -- too f$%king slow. And it also mentions ACH -- whats that?

Cant I just have funds from commonwealth savings account linked to the optionsexpress account?

I have heard of Interactive Brokers recently but seems to be a few people having problems with them.

Other than that how can I trade US market?

You would have to check with OX, but my understanding is they don't use external bank accounts.

Check with them also on depositing funds. I'm pretty sure we did ours either through Bpay or internet transfer.

ACH = Australian Clearing House - here's a link to the ASX site with some info on it: http://www.asx.com.au/supervision/rules_guidance/ach_clearing_rules.htm

If it's only the US you want to trade, you could also consider TOS http://www.thinkorswim.com/tos/client/index.jsp. Not a recommendation, but another well known US options brokerage.

Cheers.

 

[FIGJAM]

OptionsXpress

G'day,

Hopefully a question not yet asked, did a search but nothing turned up.

Anyone ever heard of Options Express? www.optionsexpress.com

Have been recommended them to start 'share renting' in the US markets. Any feedback would be appreciated.

Cheers,

 

[luke256]

Re: OptionsXpress

G'day,

Hopefully a question not yet asked, did a search but nothing turned up.

Anyone ever heard of Options Express? www.optionsexpress.com

Have been recommended them to start 'share renting' in the US markets. Any feedback would be appreciated.

Cheers,

I think it should be Xpress not Express.
Where did you search? Google has 411,000 results if you search 'optionsxpress'.

 

[builder2818]

Re: OptionsXpress

G'day,

Hopefully a question not yet asked, did a search but nothing turned up.

Anyone ever heard of Options Express? www.optionsexpress.com

Have been recommended them to start 'share renting' in the US markets. Any feedback would be appreciated.

Cheers,

Sigh!!

 

[mazzatelli]

Re: OptionsXpress

G'day,

Hopefully a question not yet asked, did a search but nothing turned up.

Anyone ever heard of Options Express? www.optionsexpress.com

Have been recommended them to start 'share renting' in the US markets. Any feedback would be appreciated.

Cheers,

Feedback:
1) OX is a reputable option broker, there are better e.g. IB, thinkorswim
2) "share renting", in general is ****

 

[bbi1]

OptionsXpress

I'm about to open an account with OptionsXpress to trade in the US markets. They have said once my account is open then I will send funds to their Aussie account & they will then send and convert the funds in to USD, using a wholesale exchange rate.

I've heard that XE.com & OzForex.com.au are meant to convert at good rates. Is your OptionsXpress's exchange rates better than theirs?

Anyone have experiences with this for the best exchange rate?

 

[whackthebid]

Re: OptionsXpress

I'm about to open an account with OptionsXpress to trade in the US markets. They have said once my account is open then I will send funds to their Aussie account & they will then send and convert the funds in to USD, using a wholesale exchange rate.

I've heard that XE.com & OzForex.com.au are meant to convert at good rates. Is your OptionsXpress's exchange rates better than theirs?

Anyone have experiences with this for the best exchange rate?

I have a Citibank Plus transaction account which is pretty good for foreign exchange transactions. I used it when I went on holiday recently and got close to the rates on XE.com with no conversion fees. I have used it to fund my overseas brokerage account and get a decent rate too. You convert it to USD before wiring out.

Also for brokerages, US Etrade is better from my experience unless you're not trading stocks/options.