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.
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 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!
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.
The Options screen is well laid out with a good summary of Puts and Calls.
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:
- A screen to show today’s top stories and/or news related to the stocks in my portfolio
- A way to transfer money from and to my linked bank account
But other than that, OptionsHouse has a winner with this one!