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Overall

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

Commissions & Fees
Offering of Investments
Platforms & Tools
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By Blain Reinkensmeyer on February 16th, 2016 | Last updated: December 7th, 2016

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.


ChoiceTrade Review

Our ChoiceTrade review includes a variety of information for researching and finding a brokerage to suit your needs. We have detailed commissions & fees data, an extensive features checklist, and other important broker information available. Our team encourages all investors to compare ChoiceTrade with their competitors to find out how they stack up.

Please Note: Our annual review requires the online brokers to actively participate due to the extensive amount of testing, data, and research that takes place over the course of six months. Since ChoiceTrade elected not to be included in our 2015 Online Broker Review, ChoiceTrade does not have star ratings or rankings.


Blain Reinkensmeyer

Reviewed by Blain Reinkensmeyer Blain heads research at StockBrokers.com and has been involved in the markets since placing his first stock trade back in 2001. He developed StockBrokers.com's annual review format six years ago which is respected by broker executives as the most thorough in the industry. Currently maintaining funded accounts with more than a dozen different US regulated online brokers, he's executed thousands of trades through his career and enjoys sharing his experiences through his personal blog, StockTrader.com.


Ratings Overall

*ChoiceTrade did not participate in the 2016 Online Broker Review, as a result the following data may not be up to date.

Best in Class

2016

Overall
This broker did not finish Best in Class.

Commissions & Fees

*ChoiceTrade did not participate in the 2016 Online Broker Review, as a result the following data may not be up to date.

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.



Trade Commissions Breakdown

Stock Trade Fee (flat)* $5.00
Stock Trade Fee (per share)* N/A
Options Base Fee* $5.00
Options Per Contract Fee* $0.50
Options Exercise Fee $15.00
Options Assignment Fee $15.00
Mutual Fund Trade Fee $25.00
Broker Assisted Trades Fee $25.00
Minimum Deposit $0.00

Margin Rates

Under $24,999.99 7.45%
$25,000.00 to 49,999.99 7.45%
$50,000.00 to $99,999.99 7.45%
$100,000.00 to $249,999.99 7.45%
$250,000.00 to $499,999.99 7.45%
$500,000.00 to $999,999.99 7.45%
Above $1,000,000.00 7.45%

Miscellaneous Fees

Bond Trade Fee N/A
Treasury Trade Fee N/A
IRA Annual Fee $50.00
IRA Closure Fee $50.00
Returned ACH Fee $40.00
Returned Wire Fee $40.00
Stock Certificate Processing Fee N/A
Stock Certificate Delivery Fee N/A
Paper Statement Fee $5.00
Paper Confirmation Fee $1.00
Domestic Wire Fee $35.00
International Wire Fee $60.00


Account Features

*ChoiceTrade did not participate in the 2016 Online Broker Review, as a result the following data may not be up to date.

Offering of Investments

Advisor Services help
No
Bonds (Corporate) help
No
Bonds (Municipal) help
No
Bonds (US Treasury) help
No
CDs help
No
Clearing Firm help
Vision
Commission Free ETFs help
0
Direct Market Routing - Stocks help
Yes
Direct Market Routing - Options help
Yes
DRIPs help
Yes
# of Easy to Borrow Stocks help
2500
Forex Trading help
No
Futures Trading help
No
Member FINRA help
Yes
Member SIPC help
Yes
Mutual Funds help
Yes
Mutual Funds (Load) help
265
Mutual Funds (No Load) help
235
Mutual Funds (NTF) help
0
Mutual Funds (Total) help
500
Mutual Funds Phone Trades help
Yes
Mutual Funds Web Trades help
Yes
No Fee IRAs help
No
No Inactivity Fees help
No
No Minimum Deposit help
Yes
Options Exercising (Phone) help
Yes
Options Exercising (Web) help
No
Options Trading help
Yes
Options Trading (Mini) help
Yes
Options Trading (Weekly) help
Yes
OTCBB / Pink Sheets help
Yes
Stock Trading help
Yes

Customer Service

Phone Support help
Yes
Email Support help
Yes
Live Chat (Current Clients) help
No
24/7 Support help
No

Platforms & Tools

Desktop Platform (Windows) help
No
Desktop Platform (Mac) help
No
Web Platform help
Yes
Active Trading Platform help
See Commission Notes
Auto Investing help
No
Charting - Display Corporate Events help
No
Charting - Drawing Tools help
0
Charting - Notes help
No
Heat Mapping help
No
Ladder Trading help
No
Level 2 Quotes - Stocks help
Yes
Level 2 Quotes - Options help
No
Option Chains - Streaming Real-time help
Yes
Option Analysis - P&L Charts help
Yes
Stock Alerts Delivery - Email help
No
Stock Alerts Delivery - Sound help
No
Stock Alerts Delivery - Text SMS help
No
Streaming Time & Sales help
Yes
Streaming TV help
No
Trade Hot Keys help
No
Virtual Trading help
Yes
Watch Lists - Streaming Real-time Quotes help
Yes

Research

Research - ETFs help
Yes
Research - Mutual Funds help
No
Research - Pink Sheets / OTCBB help
No
Research - Fixed Income help
No
Equity Research - Research Reports help
0
ETF Research - Top 10 Holdings help
No
ETF Research - Morningstar Style Box help
No
ETF Research - Research Reports help
No
Mutual Fund Research - Research Reports help
No
Mutual Fund Research - Fees Breakdown help
No
Mutual Fund Research - Performance Analysis help
No
Mutual Fund Research - Top 10 Holdings help
No
Screener - Stocks help
No
Screener - ETFs help
No
Screener - Mutual Funds help
No
Screener - Options help
No
Screener - Bonds help
No

Education

Has Education - Stocks help
No
Has Education - ETFs help
No
Has Education - Options help
Yes
Has Education - Mutual Funds help
No
Has Education - Fixed Income help
No
Has Education - Retirement help
No
Investor Dictionary help
Yes
Client Webinars help
No
Live Seminars help
No
Videos help
No
Retirement Calculator help
No
Community Forums help
No

Mobile Trading

iPhone App help
No
iPad App help
No
Apple Watch App help
No
Android App help
No
Android Tablet App help
No
Mobile Site help
Yes
Quotes (Real-time) help
No
Quotes (Streaming Real-time) help
No
Watch List Syncing help
No
Market Movers (Top Gainers) help
No
Stock Alerts Delivery - Push Notifications help
No
Customizable Homescreen help
No
Stream Live TV help
No
Trading - Stocks help
No
Trading - Stocks (After-Hours) help
No
Trading - Simple Options help
No
Trading - Complex Options help
No

Banking

Member FDIC help
No
Checking Accounts help
No
Savings Accounts help
No
Debit Cards help
No
Credit Cards help
No
Mortgage Loans help
No
Mobile Check Deposit help
No
ATM Fee Reimbursement help
No
No Fee Banking help
No
Retail Locations help
0

Active Trading

Receives Payment for Order Flow (Equities) help
Yes
Client Liquidity Rebates help
No
Financial Information Forum (FIF) Participant help
No

Compare ChoiceTrade

Select one or more of these brokers to compare against ChoiceTrade.

All pricing data was obtained from a published web site as of 2/16/2016 and is believed to be accurate, but is not guaranteed. The StockBrokers.com staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.




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