Oct. 13, 2009 (Business Wire) -- optionsXpress Holdings, Inc. (Nasdaq: OXPS) today announced that its Canadian subsidiary, optionsXpress Canada, will immediately begin offering US Dollar RRSP (Registered Retirement Savings Plan) and TFSA (Tax Free Savings Account) to Canadian customers. These new investment vehicles will give Canadian customers unparalleled access to US equities and options providing more choices to help plan and invest for their retirement.
optionsXpress customers in Canada can now take advantage of long options and covered calls in addition to stocks, bonds and ETFs within the scope of a USD RRSP or USD TFSA. They also have continued access to more aggressive options and futures strategies in their regular trading account – all with the same login.
optionsXpress will not charge an annual fee for either RRSPs or TFSAs. In addition, funds in these accounts will be US-denominated, allowing traders to avoid any per-transaction foreign exchange fees. These savings should reduce overall trading costs and help to maximize returns.
“As the only completely online broker-dealer in Canada, optionsXpress Canada is committed to providing customers with the most diverse and cost-effective choices for maximizing their returns and reaching their investing goals,” says Tom Stern, President and CEO of optionsXpress Canada. “In the case of RRSPs, that means electronically empowering our customers to prepare for a comfortable retirement.”
Please visit www.optionsxpress.ca/retirement for more information regarding RRSPs and TFSAs at optionsXpress Canada.
About optionsXpress Holdings, Inc.
optionsXpress Holdings, Inc., a pioneer in equity options and futures trading, offers an innovative suite of online brokerage services for investor education, strategy evaluation and trade execution. optionsXpress Holdings subsidiaries include optionsXpress, Inc., a retail online brokerage specializing in options and futures, brokersXpress, LLC, an online trading and reporting platform for independent investment professionals, Open E Cry, an innovative futures broker offering direct-access futures trading through its proprietary software platform, and Optionetics, Inc., a leading provider of investment education services, including live seminars, proprietary software analytics, online and offline educational products and individual coaching to over 40,000 potential investors annually in 12 countries.
Barron's named optionsXpress the number one online broker for four years in a row (2003 to 2006) and among the best for options, long-term investing and usability in 2009. Kiplinger's Personal Finance named it the top discount broker in 2006.
"Best Online Broker" 3/6/06, 3/7/05, 3/8/04, 3/10/03, and one of Barron's Best Online Brokers 3/3/07 and 3/16/09 based on: Trade Experience; Trade Tech; Usability; Offerings; Research; Portfolio Analysis; Customer Service/Access; Costs. Barron's is a registered trademark of Dow Jones & Company (C) 2009.
"Best Online Broker" by Kiplinger's 7/06, based on: Commissions/Fees; Executions; Margin Rates; Interest on Cash; Maximum Fund Transaction Fee; Responsiveness/Broker Knowledge; Research; Web Site; Cost-Basis Data; Conduct. Kiplinger's is a trademark of The Kiplinger Washington Editors, Inc. (C) 2009.
Online trading has inherent risk due to system response and access times that may vary due to market conditions, system performance, volume and other factors. An investor should understand these and additional risks before trading. optionsXpress, Inc. makes no investment recommendations and does not provide financial, tax or legal advice. Content and tools are provided for educational and informational purposes only. Products and services intended for U.S. customers and may not be available or offered in other jurisdictions.
Copyright © 2009 optionsXpress, Inc. All rights reserved. Member FINRA, SIPC, CBOE, ISE, BOX, ArcaEx, PHLX and NFA.
