Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker
. Yielding a database of over 5,000 data points, let's compare ChoiceTrade vs E*TRADE.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. E*TRADE charges $6.95 per stock trade which is $1.95 more than ChoiceTrade which charges customers $5.00 per trade. For options trading, E*TRADE has a base fee of $6.95, and ChoiceTrade a base fee of $5.00. Each option contract then costs $0.75 at E*TRADE and $0.50 at ChoiceTrade. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review
Next to commission rates, being able to trade what you want is important. E*TRADE supports Stock Trading, Options Trading, Mutual Funds and Futures Trading while ChoiceTrade supports Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, ChoiceTrade trails E*TRADE by 8,498 total mutual funds, with E*TRADE offering 8998 and ChoiceTrade offering 500. Commission free ETFs can also be valuable for customers, E*TRADE offers 156 commission free ETFs versus ChoiceTrade's total of 0.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. ChoiceTrade has virtual trading, E*TRADE doesn't. Taking a look at mobile trading, E*TRADE supports the iPhone App, iPad App and Android App while ChoiceTrade supports the none of these. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Checking Accounts and Debit Cards are offered by E*TRADE while ChoiceTrade offers none of these. On the whole, when it comes to tools, research, and mobile trading, E*TRADE was rated Best in Class - Research and Best in Class - Mobile Trading, while ChoiceTrade was rated none of these.
Overall, E*TRADE takes the upper hand with 4.00 stars over ChoiceTrade's 2.00 stars.