A Review of OptionsHouse’s iPhone App

I had previously written about using OptionsHouse via an iPhone which is not the same as a using a dedicated iPhone app! I preferred the mobile site simply because the OptionsHouse site was too cluttered and available only on Firefox on a Mac (at that time).

But recently, OptionsHouse along with a price increase, introduced a true, blue iPhone app. This is a review of the app.

Optionshouse iphone splash screen
Splash
The App installed and loaded fairly quickly to get you to the login screen.

optionshouse iphone login screen

Login
You need to login before using this App. This is a little different from other stock broker iPhone apps like the ones from Fidelity or Vanguard, where you can still view non-account specific sections without logging in.

For instance if you wanted to check a stock quote you still have to log in with OptionsHouse’s App.

optionshouse iphone home screen
Home
OptionsHouse has this unique feature of a virtual account in addition to a real trading account. For those who are new to investing, the virtual account provides a great way to test and hone your skills! You start with $5000 virtual cash and you use the same trading interface to buy or sell stocks.

I was glad to see that I could access the virtual account via the iPhone app as well!

The home screen provides a snapshot chart of the S&P, NASDAQ, DOW & VIX. Adding VIX to the mix was a nice touch!

optionshouse iphone quote screen
Quote
The Quote screen displays the stock details including a nice chart and your position in this company. You can also trade directly from this screen.

The chart screen did not have a landscape view that I found pretty useful in Fidelity’s app. That is, when you rotate your iPhone while viewing a chart, Fidelity’s app will zoom in on the chart. This was missing with OptionsHouse. And this feature is pretty common among stock apps. You can find this feature in MorningStar’s app as well.

optionshouse iphone options screen

Options
The Options screen is well laid out with a good summary of Puts and Calls.

OptionsHouse iphone app more screen
Orders, Positions and Watchlist
Finally, with the App you can also view your pending and filled orders, your current positions and create and maintain a watchlist.

Conclusion
Despite a few quirks, I’m impressed with the App! This is by far the best trading App I’ve come across! The feature list is just right and not overwhelming. Though I don’t like the dark background, the screen doesn’t look too cluttered.

A couple of features I would’ve expected in a trading app but missing in OptionsHouse’s App:

  1. A screen to show today’s top stories and/or news related to the stocks in my portfolio
  2. A way to transfer money from and to my linked bank account

But other than that, OptionsHouse has a winner with this one!

8 thoughts on “A Review of OptionsHouse’s iPhone App

  1. Nice review of the App. It amazes how far technology has come. It seems like yesterday that a friend whipped out a gadget at lunch and showed he could get an update on the Dow and the S&P 500. It was amazing at the time!

  2. I agree. There are so many things that you can do now with the iphone apps now and I am really concern about the security. Chase bank even has an app for banking and you can even deposit checks just by taking a picture of it and sending the photo!

    • A number of banks are offering check scanning via an iPhone or Android phone – I think that is pretty cool!

  3. I guess optionshouse is an american trading website?

    I would be so happy if they had a Questrade app here. Though it would make them a lot more profitable as I’m sure I would be doing much more trading.

    Great review!

    • Yes, they are one of the ‘new’ discount brokers offering a decent trading commission.

      Glad you liked the review!

  4. I think the option of a virtual account is a wonderful tool to get one’s feet wet and understand/learn about options. I would also add, that options are kind of tricky and not for the “novice” investor.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title="" rel=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>