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OptionsHouse Free Stock Trades Promotion

OptionsHouse [3] [3] is offering 100 commission free trades for new accounts with promotion code FREE100. You must deposit at least $3,000 within 45 days and the 100 free trades expire after 60 days of funding. This offer expires December 31st, 2009.

Trades at OptionsHouse cost $2.95 so in theory this offer is worth $295 if you use all hundred trades (you will not receive cash compensation for unused trades). While this looks like a hot offer, it’s not uncommon in for a discount stock broker. E*Trade [4] also offers 100 free trades and TradeKing [5] is offering $50 cash to new accounts that deposit $2,500 within thirty days and make a trade within the first six months.

From a stock trade commission fee perspective, OptionsHouse is one of the cheapest with a $2.95 fee. TradeKing charges $4.95 and E*Trade will charge you as much as $12.99 a trade. They are backed by PEAK6 Investments, which is one of the largest options trading firms in the U.S. and they are one of the few that offer a $9.95 flat rate options fee (others will charge you per contract).

For my more of thoughts on OptionsHouse, take a look at my OptionsHouse review [6].