Comments on: OptionsXpress $100 New Account Bonus via Referral

By: Sun

Sun — Thu, 22 Dec 2011 16:14:24 +0000

Now that they are owned by Schwab, would Schwab owned funds be exempt from the commission but still count towards trade?

By: OptionsXpress: Should They Be Your Online Brokerage? | Personal Finance Analyst

Tue, 05 Jan 2010 04:46:27 +0000

[...] to make more money (or to test the online brokerage waters with a little more security). As My Money Blog states, “That’s a pretty sweet return on $500 in exchange for you trying out their [...]

By: Del

Del — Thu, 13 Aug 2009 19:59:38 +0000

Now I sent you an email for this; I plan on referring friends too – does that mean I will receive $100 for opening my new account plus $100 per referred friend as well? How good are they about depositing the bonuses?

By: Dima

Dima — Sun, 09 Aug 2009 03:44:46 +0000

14.95 per trade seems awfully high… Do they do any sort of commission matching like thinkorswim?

By: D V

D V — Sat, 08 Aug 2009 06:44:31 +0000

Here is the catch: If you make a $500 deposit and establish a position and then it goes against you, you will have to deposit more money or both you and your friend will be risking being disqualified because of the $500 average account balance for 6 month requirement.

All in all, if you are not a serious trader, it is not worth it to go through all the trouble for that <$100. On the flip side, if you are a serious trader, do you really care about the $100?

By: D M

D M — Sat, 08 Aug 2009 04:56:10 +0000

PVI is yielding about 1.2% according to etfconnect.com

By: debbie

debbie — Fri, 07 Aug 2009 20:07:51 +0000

You can definitely withdraw the bonus. I did the 500 bonus awhile back. Just use ach transfer to transfer the bonus to your bank account.

also, i didnt have a hard credit pull.

By: Dave

Dave — Fri, 07 Aug 2009 16:46:53 +0000

So is this really as simple as open an account with $500, make one trade, do nothing for 6 months, and then you can withdraw your $500+$100+minimal interest (if you choose something safe)-$14.95 for your one trade?
Also can you refer people right away, like I enroll a friend, and they enroll a friend, and so on, and we all get $200?

By: indexfundfan

indexfundfan — Fri, 07 Aug 2009 16:41:36 +0000

Looks like the deal is worth $85 or so (suggestion: use options on QQQQ for just one trade). Does OX do a hard credit pull?

By: hayhehes

hayhehes — Fri, 07 Aug 2009 16:40:16 +0000

The second to the last line in the fine print makes it sound like you can’t withdraw the bonus money even after 6 months. Is that true?

It says, “Customers can not exchange the $100 for other offers, cash or credit.”

By: Udo Licht

Udo Licht — Fri, 07 Aug 2009 16:04:54 +0000

I assume that I would actually have to trade twice, correct? Once to put my money into the ETF, once to take it out. That’s $30 total cost.
Also, assuming an overall tax rate of 30% on the bonus, that means the $100 would become $100-30-30=$40.
I’m not sure that’s worth it…
Do they do a hard credit pull when opening the account?

By: Maury

Maury — Fri, 07 Aug 2009 15:10:19 +0000

I’m not eligible to refer people and get cash due to the fine print… “A customer can only qualify for a total of $500 from any combination of optionsXpress cash promotions per calendar year.”

I received the $500 bonus for making a deposit earlier this year. True to their word, OptionsXpress did provide me the bonus after I met their requirements, no strings attached.