The StockBrokers.com 2017 Brokerage Review assessed 16 different brokers over six months, surfacing the best online stock brokers
. This review compares ChoiceTrade vs Interactive Brokers. Is ChoiceTrade or Interactive Brokers a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. ChoiceTrade charges more than Interactive Brokers for placing regular stock trades ($5 and $0 (the broker charges a per share rate instead), respectively). With options, the base fees charged are $5 (ChoiceTrade) and $0 (Interactive Brokers). Each option contract then costs $0.70 at Interactive Brokers and $0.50 at ChoiceTrade. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews
For our next comparison of these two brokers, being able to trade the way you want is a must. Interactive Brokers offers clients Stock Trading, Options Trading, Mutual Funds and Futures Trading while ChoiceTrade offers Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Interactive Brokers offers its clients access to 8026 different mutual funds while ChoiceTrade has 500 available funds, a difference of 7,526. Commission free ETFs can also be a nice plus, with Interactive Brokers having the upper hand thanks to its 33 available commission free ETFs compared to ChoiceTrade's offering of 0.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Both ChoiceTrade and Interactive Brokers offer virtual trading. For mobile trading, Interactive Brokers offers the iPhone App, iPad App and Android App while ChoiceTrade offers the none of these. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Neither ChoiceTrade nor Interactive Brokers offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. On the whole, when it comes to tools, research, and mobile trading, Interactive Brokers finished with awards Best in Class - Platforms & Tools and Best in Class - Mobile Trading in 2017, while ChoiceTrade came up with none of these.
Overall, Interactive Brokers comes out on top with 4.00 stars over ChoiceTrade's 2.00 stars.