OptionsHouse Account Type

OptionsHouse offers different types of accounts for traders, including cash accounts and margin accounts. A cash account allows you to execute option trades on a cash basis, meaning you must have sufficient funds to cover the purchase price of the options. This type of account is suitable for investors who primarily buy options. On the other hand, a margin account allows you to borrow funds against the securities you own, providing greater leverage for trading. In a margin account, you can trade options with a smaller margin deposit, enhancing your potential return on investment.

OptionsHouse Broker Account Opening Process

To open an OptionsHouse account, follow these steps:

• Create a Username and Password: Visit the OptionsHouse website and click on the "open an account" button to start the registration process.

• Select Account Type and Features: Choose between an individual brokerage account or a margin account. For beginners, it is advisable to select the cash option initially.

• Enter Personal Information: Fill in your name, contact details, Social Security number, date of birth, and employment information.

• Investment Objectives and Financial Information: Specify your investment goals (e.g., capital preservation, growth) and provide details about your trading experience, annual income, and net worth.

• Review and Submit Application: Review all entered information for accuracy, agree to the terms and conditions, and submit your application. After approval, you will receive instructions on how to fund your account.

This process ensures that you are approved for options trading based on your experience and financial situation.