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. ChoiceTrade and E*TRADE have equal fees for trading stocks (equities), $0 per trade. For options trading, both ChoiceTrade and E*TRADE charge the same base fee of $0. ChoiceTrade's per contract rate of $0.40 is less than E*TRADE which charges $0.65. 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 supports Stock Trading and Options Trading while E*TRADE supports 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. Both ChoiceTrade and E*TRADE offer virtual trading. Taking a look at mobile trading, ChoiceTrade supports the iPhone App and Android App while E*TRADE supports the 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 available to clients of E*TRADE while ChoiceTrade offers customers none of these.
Overall, between ChoiceTrade and E*TRADE, E*TRADE is the winner.