eOption-Some important Details about This Broker

eOption Information

eOption, a division of Regal Securities, Inc., is a US-based investment firm mainly focuses on trading in stocks, ETFs, and options. The company also allows option trading in IRAs based on investor's individual suitability.

It offers a free demo account for traders to practice in a risk-free environment, and several live accounts for individuals and small business clients.

Furthermore, eOption provides account protection through SIPC coverage up to $500,000 (including $250,000 for cash), supplemented by Excess SIPC Insurance from Lloyds of London covering customer equity up to $25 million, protecting clients' funds even against member insolvency.

In addition, educational resources like options strategies, investing & money management, research reports, webinars and videos are provided to equip investors with necessary knowledge and skills for successful trading.

However, a critical consideration when choosing to trade with this broker is that it currently operates without oversight from any regulatory authority, which increases risks to client protection and fund security.

Pros and Cons

Is eOption Legit?

The most important factor in measuring the safety of a brokerage platform is whether it is formally regulated. eOption is an unregulated broker, which means that the safety of users' funds and trading activities are not effectively protected. Investors should choose eOption with caution.

What Can I Trade on eOption?

Account Type

Except for a free demo account for investors to practice and try their trading strategies before commiting real money, eOption also offers different IRA accounts for both individual retirements and small businesses, there include:

Individual Retirement Accounts

• Traditional IRA
• Roth IRA
• Rollover IRA
• Education IRA

Retirement Plans for Small Business

• SEP IRA
• Simple IRA

Fees

eOption charges a series of trading fees, for example, commission are as below:

To be fully aware of your trading costs, you should approach https://www.eoption.com/rates/ or conact with the broker's representatives to get better understanding and confirmation.

Rebate Program

eOption offers a rebate program that refunds up to $100 of your account transfer fee when you complete a full account transfer of $2,500 or more (excluding IRAs and retirement accounts) via the ACAT process.

To qualify, submit proof of the transfer fee from your previous broker within 60 days of the transfer. The rebate is credited within 30 days of receipt. Accounts must remain open with the required minimum assets for 12 months, or the rebate may be reversed.

Trading Platform

eOption offers a proprietary trading platform, namely “eOption: Trading & Investing”, available on both web and mobile apps.

It is said the platform provides users with account access, trading and order status checking, market updates, charting analysis and account management, etc.

Deposit and Withdrawal

eOption accepts account funding by check, ACH, wire transfer, stock certificate or account transfer.