Opening a New Account: Top Questions & Answers


Who can open an account at OptionsHouse?

U.S. citizens and resident aliens can open an account at OptionsHouse. Non-resident aliens may not open an account at OptionsHouse. Residents of the United Kingdom, Germany, China, and Hong Kong are eligible to apply for an International account type.

Can my spouse/friend manage my account?

Yes, you may authorize a limited power of attorney authorization (LPOA) on your account. By completing a LPOA form you allow a third party to trade on your account but it does not allow the LPOA to perform other functions in your account such as transferring money or changing personal information.

I currently do not have a permanent residence. Can I still open an account?

OptionsHouse is required (pursuant to the USA PATRIOT Act and industry regulations) to verify the identity of our clients, including residential address. In order to open an account with OptionsHouse, all account holders must pass this verification process. If we are unable to verify a residential address, we may not be able to open your account.

I completed the account application process, but you are asking me for additional documents – why?

OptionsHouse uses a soft credit check from a third party provider in order to verify public personal information about our potential customers. In order to open an account with OptionsHouse, all potential account holders must pass this verification process. If we are unable to verify certain information, additional documents may be requested.

What documents are acceptable for address verification?

The only documents we will accept are:

  • Non-Expired State issued ID showing the current address (cannot be issued after the date of application)
  • Utility bill (gas, electric or cable) - complete bill (needs to be less than 60 days old)
  • Lease or mortgage statement - complete document, fully executed (signed)
  • Renter’s or Homeowner’s Insurance Statement - complete statement
  • We will NOT accept: cellular phone bills, credit card or bank statements, vehicle registration or voter ID cards.

What documents are acceptable to verify my date of birth?

In order to verify your date of birth, please provide one of the following:

  • Non-Expired State issued ID
  • A copy of your passport
  • A copy of your birth certificate

What documents are acceptable to verify my social security number?

In order to verify your social security number, please provide one of the following:

  • A copy of your social security card
  • A letter from the IRS verifying your number
  • A complete, signed copy of a professionally prepared tax return
  • A copy of your Medicare Card
  • A copy of your selective service card
  • We will NOT accept: a W-2, a W-9, a self-prepared tax return, a social security statement, or a copy of your passport.

How will I know when my account has been opened?

An email will be sent to your email address once the account is opened and approved at OptionsHouse.

If I am opening an account with another individual, do I need to provide their information as well?

Yes. When completing the account application, you will need to provide the name, residential address, social security number, date of birth and employment information for all applicants.

What documents are acceptable for address verification if I live with my parents or spouse?

If you live with your parents, we need a copy of your birth certificate along with one of the following documents in your parent’s name:

  • Non-Expired State issued ID showing the current address (cannot be issued after the date of application)
  • Utility bill (gas, electric or cable) - complete bill (needs to be less than 60 days old)
  • Lease or mortgage statement - complete document, fully executed (signed)
  • Renter’s or Homeowner’s Insurance Statement - complete statement
  • If you live with your spouse, we need a copy of your marriage certificate along with one of the following in your spouse’s name:

  • Non-Expired State issued ID showing the current address (cannot be issued after the date of application)
  • Utility bill (gas, electric or cable) - complete bill (needs to be less than 60 days old)
  • Lease or mortgage statement - complete document, fully executed (signed)
  • Renter’s or Homeowner’s Insurance Statement - complete statement

I am a student, what can I send in to verify my address?

If you are living on a college campus, there are two options to verify your address:

  • Send us a letter from your college housing office confirming your address and the dates you are residing in campus housing
  • OR

  • We can make the college address your mailing address and change your residential address to your permanent address.

My social security number is correct on my application, why do you need a copy?

OptionsHouse is required (pursuant to the USA PATRIOT Act and industry regulations) to verify the identity of our clients including your name, date of birth, social security number and residential address. OptionsHouse uses a soft credit check from a third party provider in order to verify personal information about our potential customers. In order to open an account with OptionsHouse, all potential account holders must pass this verification process. If the soft credit check does not verify the required pieces of information, OptionsHouse requires documents that can verify the information.

Can I have a mailing and residential address?

Yes. When completing the online application, you will first be asked to provide your residential address and there will also be an area for you to provide an alternative mailing address. You may use a business address as your mailing address but your residential address is required.

I am opening an entity account with multiple members, what information must I provide?

When completing the account application, you will need to provide the name, residential address, social security number, date of birth and employment information for all applicants. OptionsHouse will inform you if any additional information is needed via email before account approval.

I am opening an account for my company, why do you need my personal information?

OptionsHouse is required (pursuant to the USA PATRIOT Act and industry regulations) to verify the identity of our clients including name, date of birth, social security number and residential address. In order to open an entity account, there must be a primary account holder and all authorized officers of the entity must pass this verification process.

Can I send OptionsHouse my documents via fax?

Yes, you may fax your documents to us at 312-284-4775. Please ensure you list your account number on the documents that you are sending. It is also always best to use a fax coversheet with your name and account number on it.

How can I tell if promotions have been added to my account?

If you have any questions on how to redeem or obtain a promotion, please contact our Customer Service Department at: 877-598-3190.