StockBrokers.com is committed to the highest ethical standards and reviews services independently. Advertiser Disclosure

Interactive Brokers vs ChoiceTrade 2020

Is ChoiceTrade better than Interactive Brokers? After scoring brokers on over 3,500 data points for our 2020 review, Interactive Brokers (90.58%) is better than ChoiceTrade (62.57%).

Interactive Brokers

Best for professionals - Open Account
Exclusive Offer: New clients that open an account today receive a special margin rate

While Interactive Brokers is not well known for its casual investor offering, it leads the industry with low-cost trading for professionals. Through the Trader Workstation (TWS) platform, Interactive Brokers offers excellent tools and an extensive selection of tradable securities. Read full review

ChoiceTrade

ChoiceTrade
While ChoiceTrade advertises free stock trades, unfortunately, monthly costs add up, and, overall, ChoiceTrade provides customers an online investing experience not worth the hassle. Read full review

Overall Rating

Trading Fees

Feature Interactive Brokers ChoiceTrade
Minimum Deposit $0.00 $0.00
Stock Trade Fee (per trade) N/A $0.00
ETF Trade Fee $0.01 $0.00
Options Base Fee $0.00 $0.00
Options Per Contract Fee $0.65 $0.40
Mutual Fund Trade Fee $14.95 N/A
Broker Assisted Trades Fee $30.00 $30.00
Commissions & Fees 5 4.5
Winner check_circle

Margin Rates

Feature Interactive Brokers ChoiceTrade
Under $24,999.99 3.08% 7.75%
$25,000.00 to $49,999.99 3.08% 7.75%
$50,000.00 to $99,999.99 3.08% 7.75%
$100,000.00 to $249,999.99 2.58% 7.75%
$250,000.00 to $499,999.99 3.18% 7.75%
$500,000.00 to $999,999.99 2.75% 8.25%
Above $1,000,000.00 2.08% 8.25%
Commissions & Fees 5 4.5
Winner check_circle

Account Fees

Feature Interactive Brokers ChoiceTrade
IRA Annual Fee $0.00 $50.00
IRA Closure Fee $0.00 $50.00
Returned ACH Fee N/A $40.00
Returned Wire Fee N/A $40.00
Stock Certificate Processing Fee N/A N/A
Stock Certificate Delivery Fee N/A N/A
Paper Statement Fee N/A $5.00
Paper Confirmation Fee N/A $1.00
Domestic Wire Fee $10.00 $35.00
International Wire Fee $10.00 $60.00
Commissions & Fees 5 4.5

Investment Options

Feature Interactive Brokers ChoiceTrade
Stock Trading
Yes Yes
Fractional Shares
Yes No
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
8 4
Futures Trading
Yes No
Forex Trading
No No
Commission-Free ETFs 96 All
Mutual Funds (No Load)
8534 0
Mutual Funds (Total)
12 0
Bonds (US Treasury)
Yes No
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Interest Sharing
Yes No
Advisor Services
No No
International Trading
Yes No
Offering of Investments 4.5 2.5
Winner check_circle

Order Types

Feature Interactive Brokers ChoiceTrade
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes Yes
Order Type - MultiContingent
Yes Yes
Order Type - OCO
Yes No
Order Type - OTO
Yes No
Order Type - OTOCO
Yes No
Offering of Investments 4.5 2.5
Winner check_circle

Trading Platforms

Feature Interactive Brokers ChoiceTrade
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
Yes Yes
Web Platform
Yes Yes
Paper Trading
Yes Yes
Trade Journal
Yes No
Watch Lists - Total Fields
494 19
Heat Mapping
Yes Yes
AI Assistant Bot
Yes No
Platforms & Tools 4.5 3
Winner check_circle

Charting Features

Feature Interactive Brokers ChoiceTrade
Charting - Trade Off Chart
Yes No
Charting - Indicators / Studies
121 42
Charting - Drawing Tools
9 4
Charting - Historical Trades
Yes Yes
Charting - Corporate Events
Yes Yes
Charting - Automated Analysis
No Yes
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
6 2
Charting - Custom Studies
No No
Platforms & Tools 4.5 3
Winner check_circle

Day Trading

Feature Interactive Brokers ChoiceTrade
Stock Alerts - Basic Fields
Yes No
Stock Alerts - Advanced Fields
No No
Streaming Time & Sales
Yes Yes
Streaming TV
Yes No
Direct Market Routing - Stocks
Yes No
Direct Market Routing - Options
Yes No
Ladder Trading
Yes No
Trade Hot Keys
Yes No
Level 2 Quotes - Stocks
Yes Yes
Level 2 Quotes - Options
Yes No
Trade Ideas - Backtesting
Yes Yes
Short Locator
Yes No
Order Liquidity Rebates
Yes No
Winner check_circle

Mobile Trading Apps

Feature Interactive Brokers ChoiceTrade
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes No
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
Yes No
Trading - Mutual Funds
Yes No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes Yes
Winner check_circle

Mobile App Features

Feature Interactive Brokers ChoiceTrade
Watch List Syncing
Yes Yes
Stock Alerts
Yes No
Charting - After Hours
Yes Yes
Charting - Drawing
No No
Charting - Study Customizations
Yes Yes
Heatmapping
No Yes
Stream Live TV
Yes No
Barcode Lookup
No No
Mobile Trading 4.5 3.5
Winner check_circle

Research Overview

Feature Interactive Brokers ChoiceTrade
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
Yes No
Research - Pink Sheets / OTCBB
Yes Yes
Research - Fixed Income
Yes Yes
Screener - Stocks
Yes No
Screener - ETFs
Yes No
Screener - Mutual Funds
No No
Screener - Options
Yes No
Screener - Bonds
Yes No
Misc - Portfolio Builder
Yes No
Misc - Portfolio Allocation
Yes No
Research 4 2
Winner check_circle

Stock Research

Feature Interactive Brokers ChoiceTrade
Stock Research - Reports
2 0
Stock Research - Earnings
Yes Yes
Stock Research - Insiders
Yes Yes
Stock Research - Metric Comp
Yes No
Stock Research - SEC Filings
Yes Yes
Stock Research - Social
Yes No
Stock Research - Balance Sheet
Yes Yes
Stock Research - Cash Flows
Yes Yes
Stock Research - News
Yes Yes
Stock Research - ESG
Yes No
Research 4 2
Winner check_circle

ETF Research

Feature Interactive Brokers ChoiceTrade
ETFs - Strategy Overview
Yes Yes
ETFs - Top 10 Holdings
Yes No
ETFs - Sector Exposure
Yes No
ETFs - Risk Analysis
Yes No
ETFs - Performance Analysis
Yes No
ETFs - Ratings
Yes No
ETFs - Morningstar StyleMap
No No
ETFs - Reports
Yes No
Research 4 2
Winner check_circle

Mutual Fund Research

Feature Interactive Brokers ChoiceTrade
Mutual Funds - Strategy Overview
Yes No
Mutual Funds - Prospectus
Yes No
Mutual Funds - Reports
Yes No
Mutual Funds - Fees Breakdown
Yes No
Mutual Funds - Top 10 Holdings
Yes No
Mutual Funds - Asset Allocation
No No
Mutual Funds - Sector Allocation
Yes No
Mutual Funds - Country Allocation
Yes No
Mutual Funds - StyleMap
Yes No
Mutual Funds - 3rd Party Ratings
Yes No
Research 4 2
Winner check_circle

Options Trading

Feature Interactive Brokers ChoiceTrade
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
37 18
Option Chains - Greeks
4 4
Option Chains - Quick Analysis
Yes Yes
Option Analysis - P&L Charts
Yes Yes
Option Probability Analysis
Yes Yes
Option Probability Analysis Adv
Yes Yes
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
Yes Yes
Option Positions - Rolling
Yes Yes
Option Positions - Grouping
Yes Yes
Platforms & Tools 4.5 3
Winner check_circle

Beginners

Feature Interactive Brokers ChoiceTrade
Has Education - Stocks
Yes No
Has Education - ETFs
Yes No
Has Education - Options
Yes Yes
Has Education - Mutual Funds
No No
Has Education - Fixed Income
Yes No
Has Education - Retirement
No No
Paper Trading
Yes Yes
Videos
Yes No
Webinars (Monthly Avg)
20 0
Webinars (Archived)
Yes No
Live Seminars
No No
Progress Tracking
Yes No
Interactive Learning - Quizzes
Yes No
Investor Magazine
Yes No
Education 4 1.5
Winner check_circle

Banking

Feature Interactive Brokers ChoiceTrade
Retail Locations
0 0
Member FDIC
Yes No
Checking Accounts
Yes No
Savings Accounts
No No
Credit Cards
No No
Debit Cards
Yes No
Mortgage Loans
No No
No Fee Banking
Yes No
Banking 2 0.5

Overall

Feature Interactive Brokers ChoiceTrade
Interactive Brokers Review ChoiceTrade Review
Overall 4.5 3
Winner check_circle

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 Interactive Brokers.

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 Interactive Brokers both cost $0 per trade. With options, the base fee is $0 for both ChoiceTrade and Interactive Brokers. ChoiceTrade's per contract rate of $0.40 is less than Interactive Brokers which charges $0.70. 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 offers clients Stock Trading and Options Trading while Interactive Brokers offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, ChoiceTrade trails Interactive Brokers by 12 total mutual funds, with Interactive Brokers offering 12 and ChoiceTrade offering 0.

Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Both ChoiceTrade and Interactive Brokers offer virtual trading. Taking a look at mobile trading, ChoiceTrade offer clients access to an iPhone App and Android App while Interactive Brokers 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 and Debit Cards are offered by Interactive Brokers while ChoiceTrade offers none of these.

Overall, between ChoiceTrade and Interactive Brokers, Interactive Brokers is the winner.

ChoiceTrade Review
Interactive Brokers Review



All pricing data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. 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.

arrow_drop_upBack to top