Comments on: First Trading Experience with OptionsHouse

By: share tips

share tips — Mon, 04 Jul 2011 06:26:54 +0000

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By: Rick

Rick — Wed, 20 Apr 2011 17:36:36 +0000

Just to follow up: I spent 3 weeks trying to get OH to resolve this. Other than my one response from Scott, they didn’t respond to repeated emails, and Scott never provided any updates.

I ended up wasting a few days slogging through my transactions manually for verify the MAXIT calculations.

MAXIT had two issues: 1) It showed unrealized gains for some stock that was sold 2) Although the MAXIT Schedule D looked OK, when importing to TurboTax it would use odd share amounts, e.g. instead of 2500 shares it would do 2470.0003 and 29.9997. The totals were correct but I didn’t feel like submitting 2470.0003 shares to the IRS.

I finally gave up and transferred the account to TD Ameritrade.

TD Ameritrade integrates with Quicken, which saves me a lot of data entry (OH didn’t). And it uses GainsKeeper which imported into TurboTax correctly in about 1 minute.

By: Rick

Rick — Fri, 08 Apr 2011 23:21:18 +0000

I use OH and I like it. It’s a discount brokerage but when I’ve called customer service the response has been reasonable.

However – this year I need to use the MAXIT software, which seems to be completely incorrect (unrealized gains are wrong, as others have noted).

I wrote to OH. No reply after a week. A week later I wrote again and Scott told me they ‘lost’ the email and I should re-send it. I did and he replied that he’s submitted tickets to Maxit.

I’ll keep you posted; hopefully my experience with OH will continue to be good.

By: options trading

options trading — Fri, 01 Apr 2011 10:04:21 +0000

Thanks for adding your valuable information here. Really nice of you. Keep in touch and have a nice day ahead.

By: Alan

Alan — Mon, 14 Mar 2011 21:06:15 +0000

Worst customer service ever:
I have been with OH for a year and every time I call customer service they are very rude, they hang up on me because the guy (Scott) said he is busy!!!???(Maybe doing trading himself), and they never have a clear answer, I put a trade to execute right on market open but didn’t go through till 6min after??!! When I talked to Scott he said he don’t see it in the history and I was able to see it in my history??!! I talked to his manager named Paul and basically he just B.S-ed me. I think they won’t be busy anymore if their customer shrinking every day. I’m going to transfer all my account to different broker and won’t look back to OH EVER.