Forex Broker:- XpressTrade.com

According to XpressTrade.com Website:

OptionsXpress (XpressTrade.com), based in Chicago, Illinois is an online investing company providing the self-directed trader with online brokerage and trading services. XpressTrade.com are member of SIPC. Securities Investor Protection Corporation provides account protection for up to $500,000, and at optionsXpress, the deposits of account holders are automatically eligible for extended coverage up to $25,000,000 per account.

SIPC protects against losses caused by the financial failure of the broker-dealer, and not against losses resulting from drop in a security’s value.

Three types of accounts can be opened for trading at optionsXpress. They are cash accounts, margin accounts, and futures accounts. Besides these OptionsXpress also offers multiple types of retirement accounts, including traditional, Roth, SEP and simple IRAs.

There is no minimum deposit required to open a cash account, but a $2,000 minimum is required to maintain a margin account. They have two categories of accounts. `Cash’ and `Cash Option’. The “Cash Account” does not permit options trading where as the “Cash/Options” account will allow options trading, that too fully-paid-for options, like long calls or puts, cash secured puts, spreads, etc.

OptionsXpress (XpressTrade.com) is a member of FINRA, SIPC, CBOE, ISE, AreaEX, BOX, PHLX and NFA.

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