How long does it take to open an account?
Upon receipt of completed paperwork, accounts are typically opened within 24-48 hours. [back to top]
 
Is there a minimum to open an account?
There is a $500 minimum to open a domestic account. A minimum of $5,000 equity in any combination of U.S. Dollars and/or U.S. exchanged traded securities is required for international accounts. New accounts must be funded within 30 days or the account will be closed.[back to top]
 
Where do I mail my account application?
Mail completed and signed account paperwork to:

eOption
Attn: New Accounts
950 Milwaukee Ave., Ste. 102
Glenview, IL 60025[back to top]
 
How do I fund my account?
Accounts may be funded by check, ACH, wire transfer, stock certificate or account transfer. Money orders, third party checks, credit card checks, home equity line checks and starter checks are not accepted.Some checks may require a 3 business day hold. Cashier's Checks must have the remitter's name electronically printed directly on the check by the issuing bank. Wired funds are usually available upon our receipt of the funds. See How to Fund Your Account for more details. [back to top]
 
Do you open international accounts?
Yes. We accept unsolicited accounts from non-U.S. residents from the following countries: Austria, Australia, China, Germany, Ireland, Luxembourg, Mexico, Netherlands, New Zealand, Singapore, South Africa, Switzerland and the United Kingdom (England, Northern Ireland, Scotland and Wales). Acceptance of international accounts is at our discretion and may require additional processing time. [back to top]
 
Are there additional margin or spread trading account requirements for international accounts?
International Margin and Spread Trading accounts require an additional security deposit of $5,000.00 that will be held in your account separately from the funds you will be using for trading and will not count towards your buying power or equity figures. The funds will be reflected in your monthly statements. Margin is required in order to be approved for spread trading. For International accounts that wish to trade uncovered puts, the security deposit will be an additional $10,000.00. [back to top]
 
How do I transfer an account to eOption?
When completing your account paperwork, include the Account Transfer Form and a copy of your most recent statement for the account you wish to transfer. [back to top]
 
How long does it take to complete an account transfer?
A full automated customer account transfer (ACAT), will typically take 5 to 7 business days. A non-ACAT (partial transfer) or manual transfer may take up to 3 weeks to complete. [back to top]
 
What types of IRA's do you offer?
U.S. clients may choose from Traditional, Rollover, Roth, Coverdell, SEP, Simple, Individual 401(k), Profit Sharing Plans and Money Purchase Plans. [back to top]
 
Can I trade options in my IRA?
Yes. We allow prudent trading of options in IRA's based on an investor's individual suitability. Option trading in IRA's includes call buying, put buying, cash-secured put writing, spreads, and covered calls. Unsecured (naked) puts and naked call transactions are not permitted in IRA's. We reserve the right to determine what trading is suitable for an IRA. [back to top]
 
What type of account protection do you offer?
See Account Protection for details.[back to top]
 
What is a Non-Professional Subscriber?
The phrase, "Non-Professional Subscriber" means any natural person who is neither: (a) registered or qualified in any capacity with the SEC, the Commodities Futures Trading Commission, any state securities agency, any securities exchange or association, or any commodities or futures contract market or association; (b) engaged as an "investment advisor" as that term is defined in Section 201 (11) of the Investment Advisors Act of 1940 (whether or not registered or qualified under that Act; nor, (c) employed by a bank or other organization exampt from registration under federal or state securities laws to perform functions that would require registration or qualification if such functions were performed for an organization not so exempt. The phrase "Professional Subscriber" means all other persons who do not meet the definition of Non-Professional Subscriber. [back to top]

Can I open a paper trading account before opening a live account?

Yes. eOption offers a free Paper Trading account for prospective clients and current eOption account holders. Paper Trading accounts for prospective clients will exipre after 60 days. To continue paper trading, you must open an eOption account. Live account holders can keep their Paper Trader account active to test strategies as long as the Live account is in good standing. [back to top]
How do I contact Customer Service?
You may call 1-888-793-5333 or email support@eoption.com. (Mon. - Fri. 8:00 a.m. - 8:00 p.m. EST) [back to top]
 
What are your Customer Service hours?
Mon. - Fri. 8:00 a.m. - 8:00 p.m. EST[back to top]
 
Where do I mail checks for deposit?
eOption
Attn: Customer Service
950 Milwaukee Ave., Ste. 102
Glenview, IL 60025

Money orders, third party checks, credit card checks, home equity line checks and starter checks are not accepted.

Include an IRA Deposit Slip when making deposits into an IRA account. [back to top]
 
To whom do I make checks payable?
Please make all checks payable to our clearing firm, Hilltop Securities, Inc.. Include your account number in the memo line of the check. Important Note: Cashier's Checks must have the remitter's name electronically printed directly on the check by the issuing bank. Money orders, third party checks, credit card checks, home equity line checks and starter checks are not accepted.[back to top]
 
How do I deposit a stock certificate?
1. On the back of the stock certificate, enter Hilltop Securities, Inc. as the attorney to transfer the stock.

2. Each person registered on the stock certificate must sign the back exactly as printed on the front, including initials, suffix, etc.

3. Date the certificate.

4. In pencil, write your account number on the front of the certificate in the upper right hand corner.

Please mail the certificate(s) to:
eOption
Attn: Customer Service
950 Milwaukee Ave., Ste. 102
Glenview, IL 60025

If you prefer, you may submit an Irrevocable Stock Power Form in place of completing the above information on the actual stock certificate. Please note you must still mail the stock certificate to eOption for processing.

Important Note: eOption does not accept for deposit or process restricted stock.

See Account Funding Options for more information.[back to top]
 
How do I wire funds into my account?
Domestic 
JP Morgan Chase Bank, N.A.
270 Park Avenue
New York, NY 10017-2070
ABA #021000021
Hilltop Securities, Inc.
Account: #08805076955
FFC: (customer name & account number at Hilltop)
Attention: Settlement Dept.

International
JP Morgan Chase Bank, N.A.
270 Park Avenue
New York, NY 10017-2070
ABA #021000021
Hilltop Securities, Inc.
Account: #08805076955
SWIFT Address: CHASUS33
FFC: (customer name & account number at Hilltop)
Attention: Settlement Dept.
 

THIRD PARTY WIRES WILL NOT BE ACCEPTED. FUNDS WILL BE RETURNED TO SENDER BY THE CLEARING FIRM AND FEES ASSESSED.

See Account Funding Options for more information.[back to top]
How do I wire transfer funds out of my account?
Complete the Domestic Wire Request form.

Mail your request to:
eOption
Attn: Customer Service
950 Milwaukee Ave., Ste. 102
Glenview, IL 60025

Alternatively, you may fax the request form to 1-877-367-8466.

If the wire request is for $50,000 or more, it must be notarized. Wires must be sent to same-titled accounts. No third party wires may be processed.

See Account Funding Options for more information.[back to top]
 
May I place check, wire, or incoming/outgoing ACH requests online?
Check, wire, and ACH requests may be conveniently placed online through the Cash Management System. Log in to your account, go to Accounts and click the Cash Management tab. You may request checks, incoming and outgoing ACH transactions, and outgoing wire requests. Requests placed prior to 2:00 PM EST will be processed the same business day. Requests for overnight delivery incur a $25.00 charge. See How to Fund Your Account for more details.[back to top]
Do you process restricted stock?
No. We will not accept deposit or process restricted stock under any circumstances. If we receive restricted stock, it will be returned to the sender. [back to top]
What are your margin requirements?
Margin maintenance ranges from 30%-100% depending on the particular stocks in the account.

See Margin Requirements for more information.[back to top]
 
Is there a concentrated account margin requirement?
Margin accounts with any concentrated single position comprising more than 50% of the account value will be charged 40% on the entire account. 

See Margin Requirements for more information.[back to top]
 
What is a pattern day trader?
"Pattern Day Traders" are defined as those customers who day trade (buy and sell the same position within the same trading day) four or more times in five business days.

See Day Trading Margin Rules and Day Trading Risk Disclosure for more information.[back to top]
 
Do you have a telephone number for international customers?
Customers outside North America can reach us at 1-847-375-6080. See Contact Us for information.[back to top]
 
Do you offer extended hours trading?
Yes. Extended hours trading is available from 9:00-9:30 a.m. EST and from 4:00-5:00 p.m. EST. Extended hours trades cannot be placed online. To place an extended hours trade please call the trade desk at 1-888-793-5333.

See Extended Hours Trading for more information. [back to top]
What types of option trading do you offer?
• Buy-writes
• Spreads
• Combos
• Straddles/Strangles
• Butterflies/Condors
• Iron Butterflies/Iron Condors
• Rollouts

Please note that you may not be approved for all of the strategies listed above. Option rates apply to each leg of spread orders.[back to top]
What is the requirement for writing uncovered options?
See Margin Guidelines for more information.[back to top]
 
What are the minimum equity requirements for trading options?
See Margin Guidelines for more information.[back to top]
 
What are the maintenance requirements for spread orders?
See Margin Guidelines for more information.[back to top]
 
Are there risks to spreads that pay a dividend on the underlying stock?

Please be aware of the risk associated with call spreads and dividend payment. Only owners of the underlying stock are entitled to receive the dividend. Long call holders do not have the right to receive the dividend unless the call option is exercised and shares are in the account prior to the Ex-Dividend date. Customers that are short stock coming into Ex-Dividend date due to an assignment must pay the dividend. Below is an example where you can lose more money than what was originally calculated.

You have a 100 XYZ bear call spread 128 – 129. The maximum risk (outside of exercise or assignment) is the difference between the strikes which in this example is 1. But if you were assigned and short stock coming into the Ex-Dividend date you have to pay the dividend. If you are short 10000 shares and the dividend rate is $0.56 per share the risk is now $1 plus $0.56. In unfavorable market condition moving against your strategy can lead to an unsecured debit.

Assignments can occur on any day prior to expiration and accounts are selected randomly. You, as the seller of the call option, are obligated to sell stock at the strike price. Calls that have time premium (not to be confused with premium or market price) that is greater than the dividend rate generally will not be assigned. However, there is no guarantee that the assignment will not occur regardless of the time premium or whether the option is in or out of the money. It is the right of the long call holder to exercise and the obligation of the short call holder to accept. There is no guarantee that you will be assigned either. This is the unknown until the assignment actually occurs.

Due to this risk of leaving an unsecured debit we may ask customers to close out of their spread prior to the Ex-Dividend date if you have a short call that is in the money, time premium is less than the dividend and you do not have the funds to pay the dividend in case of an assignment.[back to top]

What is the options expiration policy?
Expiring long and short option positions may be closed as early as 2:00 PM EST on the last trading day prior to expiration if you do not have the funds or buying power to buy or short the underlying security. We will allow customers to take action on their position until 3:30 PM EST but you must contact us with your intentions. Please note that you may still get assigned even if a short option is out of the money. Therefore, if there is risk to the account, short options may be closed out even if it is out of the money. The firm may close out your positions without prior notice. We may also elect not to exercise or close the resulting stock position in the aftermarket hours on Friday or pre-market hours on Monday. [back to top]
 
Can I trade Pink Sheet or Bulletin Board stocks through eOption?
No, we do not allow the entry of Pink Sheet or Bulletin Board stocks through our trading platform.[back to top]
 
Do you accept deposits of equity securities traded on the Pink Sheets or OTC Bulletin Board markets?
eOption does not accept deposits of equity securities traded on the Pink Sheets or OTC Bulletin Board markets priced below $1.00, including but not limited to, utilizing the following methods:

1. Any form of physical certificate deposit through the SPS application (Securities Processing System), the Transit System (TNST), and via mail.
2. DWAC (Deposit/Withdrawal at Custodian)
3. DRS (Direct Registration Services)
4. ACAT Transfer of Restricted Stock, except certain low-priced securities without any restrictive legend via ACAT.

eOption reserves the right to reject any account that has a concentration of low priced securities (penny stocks). [back to top]
 
Can orders be directed to a specific exchange?
Most orders can be routed to a particular exchange through a broker. Broker-assisted orders are an additional $6.00. Please call our trade desk at 1-888-793-5333 for further information. [back to top]
 
How do I place a bond trade?
Bond trades must be placed with our bond desk, call 1-888-897-8133. [back to top]
 
Can I use unsettled funds to open a position in an IRA?
eOption,through its clearing firm, Hilltop Securities, Inc., is required to implement policies concerning trading with unsettled funds. Settled debt balances are not allowed in IRAs. Please be aware of the settlement date of stock and mutual fund sales. Stock trades, and some mutual fund trades, settle in three business days while option trades and some mutual fund trades settle in one business day. Customers with a settled debit balance in their IRA may have their mutual fund(s) and option trade(s) reversed, rebilled to a viable account or we may liquidate a stock as same-day settlement to pay for the trade(s).

Example:
Sell stock ZZZ for $5,000 on Monday. The sale will settle on Thursday.
- Buy AAA options with the sale proceeds from ZZZ on Monday. The option purchase will settle on Tuesday. This purchase will create a settled debit balance.
- Buy AAA options with the sale proceeds from ZZZ on Tuesday. The option purchase will settle on Wednesday. This purchase will create a settled debit balance.
- Buy AAA options with the sale proceeds from ZZZ on Wednesday. The option purchase will settle on Thursday. This purchase will NOT create a settled debit balance as both stock and option purchases settle on the same day. (This does not apply to credit spreads and cash secured puts as the requirement must be paid with settled funds.)[back to top]

Does eOption Paper Trading have a mobile application?
Although we have great mobile trading on iPhone, iPad and Android devices for eOption Trader Live accounts, we do not offer mobile for eOption Paper Trading at this time. 
 
What is Auto Trading?
As an Auto Trading customer, you give eOption, the authority to automatically execute trade alerts issued by an authorized newsletter publisher of your choice, resulting in an enhanced ability to follow and place your newsletter’s trade suggestions on a timely basis. [back to top]
 
How do I take advantage of this service?
First, make sure that you have properly subscribed to a participating newsletter publisher and have an open eOption account. Next, login to your account and go to Additional Services > Auto Trading. You will then be guided through a process of selecting the service you subscribe to and allocating an amount you are comfortable with.[back to top]
 
In order to auto trade, which investment objective should I choose when setting up my account?
eOption Auto Trade accounts are subject to additional risks, including but not limited to, those listed above in the Auto Trade Terms and Conditions. You must have your account investment objective designated as “Speculation” in order to be enrolled in eOption Auto Trade services. Auto Trade is only offered to accounts that have designated their investment objective as “Speculation”. By agreeing to the eOption Auto Trading Terms & Conditions, you accept, and are requesting that your account investment objective be updated to “Speculation”.[back to top]
 
How do I know which service to select? Does eOption recommend any services?
While eOption works with many newsletter publishers, we do not recommend one service over another. We do not have access to newsletter publisher track records or historical performance data. Our only suggestion is to inquire with multiple services to ensure that you are comfortable with the strategy and are able to fully understand the risks associated with employing said strategy. Any reputable service should provide information that you request by contacting the service directly. Proper due diligence on the subscriber’s part is extremely important. [back to top]
 
Does eOption track the performance of the newsletter publishers?
No. eOption does not track the performance of any newsletter publisher. Before making a decision to engage in Auto Trading, you should perform the due diligence necessary to ensure that you are comfortable with the risks associated with the methods employed by the newsletter publisher.[back to top]
 
Which newsletter publishers are available for Auto Trading?
To see our complete list of newsletter publishers, visit http://www.eoption.com/investment-products/auto-trading. If you do not see your newsletter publisher listed, contact the Auto Trade Department at 1-888-793-5333 so that eOption may determine if it is possible to establish Auto Trading with this newsletter publisher.[back to top]
Can I participate in multiple newsletter services within one account?
Yes. Clients may trade more than one newsletter in their eOption account. [back to top]
 
Can I place my own trades in the same account I’m using for Auto Trading?
If you wish to make trades on your own, outside of your newsletter publisher’s activity, we suggest you open a separate account for such trading. Please keep in mind, if you place any non Auto Trading trades in your Auto Trading account, you will be held responsible for any margin calls, fed calls, or good faith violations that are generated due to personal trading in your account.[back to top]
 
Am I guaranteed to participate in every trade alert?
The Auto Trade service is offered to you on a best efforts, not-held basis. We do our best to enter the recommendations as quickly and efficiently as possible. While we have back-up systems in place to ensure timely handling of orders, orders are subject to risk from errors of electronic systems, communications, market developments, and timing. In addition, other factors such as insufficient buying power or subscription lapses may cause missed trades.[back to top]
 
Once I am set up to Auto Trade, how do I make changes to my allocation amount?
You are welcome to change your Auto Trade allocation at any time by using our electronic change request via the secure, web-based trading platform. Simply log into your account and click on Additional Services > Auto Trade to access this information. Changes made online will go into effect the following business day by 8:00 AM EST. [back to top]

auto-trade-change.png

 
How do I cancel my Auto Trade service or put it on hold?
If you desire to cancel or place on hold your Auto Trading status with eOption, you can log into your eOption brokerage account and click on the ‘Auto Trade’ tab (subcategory under Client Services) to access this information. Changes made online will go into effect the following business day by 8:00 AM EST. Please note: Once a subscription has been cancelled, you will not be able to activate auto trading until you complete a new Auto Trade Limited Trading Authorization.[back to top]
 
How do I add funds to my account?
There are various account funding options. You may fund your account via check, by requesting incoming or outgoing electronic funds transfer (ACH) between your bank and brokerage account, wire transfer, or transferring cash and/or securities from another brokerage account. Go to http://www.eoption.com/open-account/Fund-Your-Account for complete instructions for each account funding option. [back to top]
 
Does eOption charge a fee for Auto Trading?
No.  eOpton does not charge a fee for Auto Trading, however a commission rate of $5.00 for equities and $5.00 + $.15/contract for options, per execution, applies to orders entered and filled by eOption's Auto Trade Desk. This higher commission rate only applies to Auto Trade orders physically entered by eOption’s Auto Trade desk and does not apply to customers who enter their trades directly into the eOption platform and are not utilizing the Auto Trade desk.[back to top]