optionsXpress Reduces Commissions on Futures Products and Introduces Simple, Straightforward Fee Structure
CHICAGO--(BUSINESS WIRE)-- optionsXpress, Inc. ("optionsXpress"), a wholly-owned subsidiary of Charles Schwab, announced today that it has replaced its tiered commission structure for futures and futures options with new pricing of $3.50 per contract. Clients have access to optionsXpress' powerful, easy-to-use trading platform and robust package of tools, education, and support for futures trading - now at a lower cost.
"We've seen demand for trading futures and futures options steadily increase as our clients seek more trading opportunities," said Dan O'Neil, Vice President of futures for optionsXpress. "By reducing commissions on futures and futures options and introducing a new, simplified pricing structure, we're putting our clients first and making these products even more affordable for those who want to incorporate futures into their trading strategies."
optionsXpress offers a broad range of tools and capabilities for futures traders, including free real-time quotes, streaming charts, market news, and research from leading futures market analysts and commentators. Clients have the ability to trade futures and options on futures alongside stocks, equity options, and ETFs on the same powerful, easy-to-use platform.
Schwab to Launch "Futures Hub"
Tomorrow, Schwab will launch a new Futures Hub on Schwab.com, which will link directly to futures trading at optionsXpress. The Futures Hub will include data from CME Group with quotes that update every 30 seconds for the most active futures contracts. Clients will have access to futures charts that are customizable by time horizon and chart type, and futures contract specifications. Clients can also enjoy trade support from futures specialists at optionsXpress.
About Charles Schwab
The Charles Schwab Corporation (NYS: SCHW) is a leading provider of financial services, with more than 300 offices and 8.8 million active brokerage accounts, 1.6 million corporate retirement plan participants, 874,000 banking accounts, and $2.01 trillion in client assets as of January 31, 2013. The Company was ranked 'Highest in Investor Satisfaction With Self-Directed Services' in the 2012 US Self-Directed Investor Satisfaction StudySM from J.D Power and Associates. Through its operating subsidiaries, the Company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; compliance and trade monitoring solutions; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at www.schwab.com and www.aboutschwab.com.
optionsXpress, Inc. (member SIPC, www.sipc.org), specializing in online options and futures trading, offers an innovative suite of online brokerage services for investor education, strategy evaluation, and trade execution. optionsXpress, Inc., is a wholly-owned subsidiary of The Charles Schwab Corporation (NYS: SCHW) , a leading provider of financial services, with more than 300 offices and 8.8 million active brokerage accounts, 1.6 million corporate retirement plan participants, 874,000 banking accounts, and $2.01 trillion in client assets as of January 31, 2013. More information is available at www.aboutschwab.com.
optionsXpress, Inc. makes no recommendations on investments and does not provide financial, tax or legal advice. Content and tools are provided for educational and informational purposes only. Online trading has inherent risks due to system response and access times that vary due to market conditions, system performance and other factors. An investor should understand these and additional risks before trading. Products and services intended for U.S. customers and may not be available or offered in other jurisdictions.
Options, Futures, and Single Stock Futures involve substantial risk and are not suitable for all investors. Please read "Characteristics and Risks of Standardized Options", "Risk Disclosure Statement for Futures and Options", and "Risk Disclosure Statement for Security Futures Contracts" found on our website. All above disclosures are available by calling 1-888-280-8020 or 1-312-629-5455.
¹Restrictions apply: The $3.50/contract pricing applies to U.S. customers only. The $3.50/contract rate is effective February 11, 2013 and will not be applied retroactively. Commission rates depicted above are quoted on a per-contract, per-side basis. Pricing does not include customary NFA and exchange fees. Additional fees may apply at some foreign exchanges.
Erin Montgomery, 212-403-9271
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