Ratings

Overall
Commissions & Fees
Customer Service
Platform & Tools
Research
Ease of Use
Investment Offering
Education
Mobile Trading

Trade Commissions

Equity Trades*	$5.00
Options Fee*	$5.00
Options Contract*	$0.15
Mutual Fund	$25.00
Broker Assisted*	$25.00
Minimum Deposit	$0.00

Account Features

Virtual Trading
No Minimum Deposit
No Maintenance Fees
No-Fee IRAs
Online Trader Community
Investment Education

ChoiceTrade Review

Broker Review

Likes - No surcharges for trading penny stocks; comprehensive trade ticket is site-wide for easy order entry; free options trades during expiration week.

Dislikes - Multiple platforms makes for confusing overall offering; real-time streaming quotes are not free; research tools are very basic; pricey fees for option exercising and assignments.

Bottom Line - While ChoiceTrade does offer discounted trades, the broker charges clients for numerous platform features that could otherwise be free and lacks strong research capabilities.

ChoiceTrade is an online broker that provides stock, options, and mutual fund trading services for its clients. They offer essentially flat free trading with unlimited share amounts in addition to no penny stock trading fees. Their customers have two platform options including the advanced Choicetrader Select in addition to the option for Direct Access Trading access. ChoiceTrade also has their own mobile trading platform for all users, ChoiceTrade Mobile.

Our ChoiceTrade review provides trade platform screenshots, detailed commissions information, and online broker ratings. Also discover how ChoiceTrade placed in the most recent StockBrokers.com 2011 Review of Online Brokers as well as the 2011 Barron’s Review of Online Brokers and 2010 SmartMoney Broker Review**.

Commission Notes

ChoiceTrade offers clients a variety of market data options which change in price depending on which platform or addon is being used. The web based platform (default) is free, with the QuoteStream addon (streaming real-time quotes) available starting at $9.95 per month. The other two platforms include ChoiceTrade Direct Pro and ChoiceTrader Select with eSignal. Data packages for these two platforms start at $49.95 and $126 per month, respectively. Further additional data feeds can be purchased such as Level 2 quotes and Pink Sheet advanced quotes for additional fees.

Stock Trades - All stock trades are $5 per trade with unlimited shares and no minimums. Any trade made during extended hours add $.005 per share. There is no additional charge for trading penny stocks (stocks under $1 per share) unless order size is more than 500,000 shares then add 1% of order dollar value.

Options Trades - Options trades are $5 per trade + $.15 per contract with no minimums. There is a $5 fee to exercise or assign an option position.

Mutual Funds - All mutual funds cost $25.00 per trade. Additional fees may apply depending on the fund.

Retirement Accounts - ChoiceTrade charges an annual fee of $30 for IRA accounts.

ChoiceTrade was reviewed by StockBrokers.com on 2012-02-27 with an overall rating of 2 Stars.

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ChoiceTrade Review

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Commission Notes

Trading Platform

ChoiceTrade Mobile iPhone App

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