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 4,000 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 $6.95 more than ChoiceTrade which charges customers $0 per trade. With options, the base fees charged are $6.95 (E*TRADE) and $5.00 (ChoiceTrade). Option contracts are pricier at E*TRADE, costing $0.75 versus $0.15 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. ChoiceTrade provides its clients with Stock Trading and Options Trading while E*TRADE provides clients access to Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, E*TRADE offers its clients access to 9062 different mutual funds while ChoiceTrade has 0 available funds, a difference of 9,062.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. ChoiceTrade offers virtual trading while E*TRADE does not. Taking a look at mobile trading, ChoiceTrade offer clients access to an iPhone App and Android App while E*TRADE has an iPhone App, iPad App and Android App. 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, Savings 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, both ChoiceTrade and E*TRADE were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, between ChoiceTrade and E*TRADE, E*TRADE is the winner