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Title

eOption Broker Review

Review By: Max WebsterReview Updated: 2020-04-15
etfstocksbin_opt

Spread

From 0%

Max. Leverage

1:50

Deposit Protection

$500,000 SIPC Protection

Min. Deposit

$0 USD

Spread

From 0%

Max. Leverage

1:3

Deposit Protection

$500,000 SIPC Protection

Min. Deposit

$0 USD

Spread

From $0.1 USD

Max. Leverage

1:10

Deposit Protection

$500,000 SIPC Protection

Min. Deposit

$0 USD

Our Overall Rating

Rating3.2

eOption was launched in 2007 and it is now a popular brokerage with lots of options. The eOption website states that it’ values are clear: that “fast, efficient execution” should be paired with cost-effective trades.  They are part of Regal Securities, Inc., an American company. The Securities Investor Protection Corporation protects cash which is invested with this firm.

Commissions & Fees

Rating

eOption is a cost-effective broker, and it’s fee structure is simple. The company is based in the US, meaning that most of it’s fees are provided in US dollars. Each stock order costs $3 to place, and it is made clear at the top of the eOption website that each option contract is just $3 + 15 cents per option contract. There are some account fees to be aware of, however an inactive account will be hit with a $50 fee, for example, while trading within extended hours will cost $3 per trade.

 

eOption Fees

Platforms & Tools

Rating

A range of platforms are offered by eOption to its customers. It provides customers with its own branded version of the ETNA service. There are also mobile apps available, and these contain mostly the same features as the on-computer device. eOption provides a simulator service for those who want to experiment with trading prior to going ahead and actually placing a trade for real. It does not, however, appear to offer MetaTrader – the popular trading platform which many other brokers provide.

eOption Trading Platforms

DAS Web, DAS Pro and SterlingTrader

Customer Service

Rating

Customer service is key to the eOption experience, and the site is committed to providing good customer outreach. It’s possible to reach eOption via email, and there is an easy-to-use email form on the eOption website for this purpose. There are several phone number options, including both toll-free and global numbers. And in a show of transparency, it also publishes its street address for an office in Illinois, USA. Other than on days when the market is closed for holiday purposes, the eOption customer service team is available between the hours of 8am and 8pm Eastern Standard Time.

eOption Customer Service

Research

Rating

YouTube videos

Ease of Use

Rating

Mobile Trading

Rating

Regulatory details

eOption Prohibited countries:

Balkans | Belarus | Burma | Cote D’Ivoire (Ivory Coast) | Cuba | Democratic Republic of Congo | Iran | Iraq | Liberia | North Korea | Sudan | Syria | Zimbabwe

From their website:

Options Disclosure: Options involve risk and are not suitable for all investors. Prior to trading options, you must be approved for options trading and read the Characteristics and Risks of Standardized Options. A copy may also be requested via email at support@eoption.com or via mail to eOption, 950 Milwaukee Ave., Ste. 102, Glenview, IL 60025. Online trading has inherent risks due to loss of online services or delays from system performance, risk parameters, market conditions, and erroneous or unavailable market data.

Final Thoughts

There are many reasons to trust a broker like eOption: from its participation in deposit security schemes to the high level of transparency it offers, this is a well-respected provider. Brokers who are looking for a wide range of assets to trade, however, may be somewhat disappointed by the limited range – and there’s a risk of getting caught out by high inactivity fees. Overall, though, this broker is an excellent choice for those who want highly technical platforms and a commitment to top-end customer service available through a variety of channels.


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Ratings

Rating
  • Commissions & FeesRating
  • Platforms & ToolsRating
  • Customer ServiceRating
  • ResearchRating
  • Ease of UseRating
  • Mobile TradingRating

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