Frequently Asked Questions

Simply click on any of the questions to view the answer, or if you want to review the whole list, just scroll down the page.

About optionsXpress

• What is optionsXpress?
• When did you open / how long have you been in business?
• Where are you physically located?
• How are accounts protected?
• Are the funds in FDIC Deposit Accounts Insured?
• What is a Test Drive?
• How do I contact optionsXpress during business hours?

What is optionsXpress?

optionsXpress is a pioneer in online stock, options and futures brokerage service to the self-directed investor. We were founded by an experienced management team dedicated to providing investors with an innovative, leading-edge trading environment.

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When did you open / how long have you been in business?

We were founded in February of 2000, and opened our web site on November 22, 2000.

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Where are you physically located?

Our main office is at:

311 W. Monroe Street, Suite 1000
Chicago, Illinois 60606

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How are accounts protected?

optionsXpress is a member of SIPC, the Securities Investor Protection Corporation, which protects against losses caused by the financial failure of the broker-dealer, but not against losses resulting from depreciation in a security's value. Your optionsXpress accounts are protected by SIPC up to $500,000 – including up to $100,000 for cash claims.

Additionally, on our own initiative and at no additional cost to you, optionsXpress has secured excess SIPC coverage offering your account additional account protection beyond the standard SIPC limits. optionsXpress' excess SIPC policy covers in the aggregate up to $100,000,000, subject to a maximum limit of $24,500,000 per customer, $900,000 of which may be cash.

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Are the funds in FDIC Deposit Accounts Insured?

Yes. As your funds will be swept into Deposit Accounts at up to eleven (11) Banks, they will be eligible for at least $1.0 million in coverage (or $2.0 million in the case of a joint account), subject to applicable limitations. Funds in the Deposit Accounts at each Bank are eligible for deposit insurance by FDIC up to a total of $100,000 principal and accrued interest per depositor in most insurable capacities (e.g., individual, joint, etc.) when aggregated with all other deposits held in the same insurable capacity at a Bank. For example, funds in the Deposit Accounts at a Bank held by an individual are insured up to $100,000, and funds in the Deposit Accounts at a Bank held jointly by two or more individuals are insured up to $100,000 per joint owner.

For IRAs and certain other self-directed retirement accounts, funds in the Deposit Accounts at each Bank are eligible for deposit insurance up to $250,000 principal and accrued interest per depositor in the aggregate.

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What is a Test Drive?

The optionsXpress Test Drive is a FREE trial of our site that allows you to access our suite of investing tools and our educational resources for ten days.

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How do I contact optionsXpress during business hours?

You may call us at (888) 280-8020 or (312) 629-5455. You may also chat online with customer service or trading staff using our Live Help .

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