optionsXpress Brokerage Configuration

Last modified 09:28, 21 Aug 2017

optionsXpress Brokerage

Users with an optionsXpress Brokerage account can enter their account details into Your SOFTWARE to place live options trades directly to the market. This is a powerful feature that allows users to perform their detailed stock and options analysis, then place the trade or strategy order directly to the live market, all through the one trading platform.

Setting up an active optionsXpress brokerage account requires a three step process:

  1. Enabling the optionsXpress software integration services,
  2. Configuring the user Trading Account Details within the software,
  3. Setting up the correct Software Data Provider within the software.

Enabling optionsXpress Web Site Access

The optionsXpress Software Integration Services need to be enabled in order to allow a connection between the optionsXpress Live Trading platform and Your SOFTWARE’s order entry tickets. To configure this service, you must log into your optionsXpress web account. For United States clients, use the optionsXpress US web address and for Australian clients, use the optionsXpress AUS web address to log into the account.

broker_ox_accntlogin.png

After logging into the account, place the mouse on top of the Account tab located on the blue menu bar and select the Profile option.

broker_ox_accntprofile.png

Then select the Trading & Web Site Preferences tab and check the Site Access Via Software / XML API box. This will enable the software integration services.

Note : You may receive a Trading Access via External Software Agreement pop up box. Read the agreement text and click the I Accept button to enable the service.

broker_ox_accntpref.png

broker_ox_accntprefopt.png

Finally, click the Save Changes button to save and exit.

optionsXpress Brokerage Account

This screen can be accessed from the File->Settings->Brokers page from the main menu.

The optionsXpress brokerage account allows users to trade Stocks, Futures, Options and Indexes on the United States market directly through their optionsXpress account. To setup and maintain this account, see the steps below.

AppSettingsBrokers.png

New Broker Settings

Select optionsXpress from the Available Brokers list and then click the New button to open its Broker Account Configuration dialog box.

broker_ox_accntsettings.png

The Account Name is the name used to identify this broker account information within the software.

The Account Username is your optionsXpress Username which is provided by optionsXpress.

Checking the Default Account will set this account as the default brokerage account when Buying and Selling throughout the software. If a default account was previously set, a confirmation dialog will open when trying to save the changes. Click Yes, to change the default to this account.

DefaultBrokerChange.png

The Log into this account on startup setting will automatically prompt for login whenever the software is started. By logging in, the account will be ready to place trades directly throughout the software.

The Trading Password button allows users to enter a password that will be used to confirm trades before they are sent to the optionsXpress live trading platform. See the Trading Pass button allows users to enter a password that will be used to confirm trades before they are sent to the optionsXpress live trading platform. See the Trading Password Setting topic below.

The unt. In this case, Stocks, Futures, Options and Indexes on the United States market can be traded through this account.

After entering the relevant information, click on the Ok button to apply the changes.

Note : Users will need to close down and restart the software for the changes to take effect.

Trading Password Setting

The Trading Password button allows users to enter a password that will be used to confirm trades before they are sent to the optionsXpress live trading platform from an order entry ticket.

broker_ox_password.png

To setup a Trading Password, enter a password in the New Trading Password field. This password will need to re-entered into the Re-enter New Trading Password field. Note, the  re-enter field will not accept a cut and pasted password. It will need to be manually entered via the keyboard. If an old password exists, the Old Trading Password field will be enabled and the user must enter this password before a new password can be set.

If no password is defined in this screen then trades will be sent straight through to the optionsXpress live trading platform without any confirmation.

broker_ox_nopassword.png

The Submit button is directly enabled on the order entry screen when no Trading Password has been set. See the screen below.

broker_ox_orderform.png

If a Trading Password is set, then users must enter this password before a trade can be sent to the optionsXpress live trading platform. This can be used as an added level of security in case of unauthorised trading via the optionsXpress trading account.

broker_ox_password.png

If a password has been enabled, the Submit button on the order entry ticket will not be enabled until the correct Trading Password has been entered.

broker_ox_orderform_enabled.png

Note : Changing the trading password in the software will NOT change the login password for the optionsXpress web account. These two passwords are totally independent and changing one will not affect the other.

Modify Broker Settings

From the Brokers tab, select optionsXpress from the Available Brokers list and select an active account from the Accounts list. Then click the Modify button to open its Broker Account Configuration dialog box.

broker_ox_modsettings.png

The window will show the current settings for the selected broker account. All fields can be modified on this screen. However, it is suggested that once an Account Username has been entered and tested that it works, then that field should not be modified.

The Default Account and Login into this account on startup fields are most likely the fields to modify once a valid connection has been setup. 

Delete Broker Settings

Broker accounts can also be deleted from the Brokers tab. Users may close brokerage accounts and then remove them from within the software. The Delete button allows users to perform this task.

From the Brokers tab, select optionsXpress from the Available Brokers list and select an active account from the Accounts list. Then click the Delete button to remove the account from the system. The brokerage account will then be removed from the Accounts list.

Configuring the Software Data Provider

All data streamed into Your SOFTWARE is set to Hubb by default.

When trading options through an optionsXpress account, the data feed streaming into Your SOFTWARE should be set to optionsXpress. This will ensure that the prices seen on all option chain and analysis screens are accurate and streaming from the live optionsXpress data feeds. During actual US market trading hours, this data will be live and can be updated by pressing the green butn_go-off.gif button on all screens with option prices. After hours quotes will reflect the last traded price.

To change the Data Provider, click on to the Edit menu and then select Data Providers. This will launch the Data Providers dialog box.

menubtn_editdataprovdrs.gif

On the Data Providers window, find the United States market and make sure it has been checked on. Then under the Data Provider column, click on HUBB to enable the dropdown menu and select optionsXpress from the list of selections.

broking_og_providerscreen.png

Click on the Ok button to apply the changes.

Note : Users will need to have a valid optionsXpress account for these changes to work correctly.

 

Disclaimer

This site and the information provided on this website (“Website”) is owned by Investment Educators Australia Pty Limited ACN 105 216 340 (Trading As Hubb Financial) and the holder of an Australian Financial Services Licence (No: 241060) (“IEA”). In providing the information on this Website, IEA is not providing advice and does not take into account the investment objectives, financial situation and particular needs of any particular person. Investments in securities or derivatives involve risk. Before making an investment decision, an investor needs to consider, with or without the assistance of a Securities Adviser, whether the information on this Website is appropriate in light of their particular investment needs, objectives or financial circumstances.

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