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Interactive Brokers vs ChoiceTrade 2019

Is ChoiceTrade better than Interactive Brokers? After scoring brokers on over 4,000 data points for our 2019 review, Interactive Brokers (80.99%) is better than ChoiceTrade (45.72%).

Interactive Brokers

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

While Interactive Brokers does offer a $0 trading account type (IBKR Lite), the broker is best known for its professional traders accounts (IBKR Pro), where Interactive Brokers offers per-share pricing ($.005 per share with a $1 minimum per trade), and charges up to $20 per month between two minimum activity fees. Traders who can meet its $100,000 minimum deposit for margin trading are rewarded with an industry-leading commissions schedule, margin rates, and full support for international trading.Read full review.

ChoiceTrade

$0 Trades
Founded in 2000, ChoiceTrade is an online broker that advertises unlimited free stock trades. Unfortunately, overall, ChoiceTrade provides customers a terrible all-around online investing experience not worth the hassle. Read full review.

Overall Rating

Feature Interactive Brokers ChoiceTrade
Overall 4 2.5
Interactive Brokers Review ChoiceTrade Review

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 $0.70 $0.40
Mutual Fund Trade Fee $14.95 N/A
Broker Assisted Trades Fee $30.00 $30.00
Commissions & Fees 4.5 3.5
Winner check_circle

Margin Rates

Feature Interactive Brokers
Open Account
ChoiceTrade
Under $24,999.99 3.68% 8.25%
$25,000.00 to $49,999.99 3.68% 8.25%
$50,000.00 to $99,999.99 3.68% 8.25%
$100,000.00 to $249,999.99 3.18% 8.25%
$250,000.00 to $499,999.99 3.18% 8.25%
$500,000.00 to $999,999.99 3.18% 8.25%
Above $1,000,000.00 2.68% 8.25%
Commissions & Fees 4.5 3.5
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 4.5 3.5

Investment Options

Feature Interactive Brokers ChoiceTrade
Stock Trading
Yes Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 0
Futures Trading
Yes No
Forex Trading
No No
Commission-Free ETFs 48 0
Mutual Funds (No Load)
7558 0
Mutual Funds (Total)
11000 0
Bonds (US Treasury)
Yes No
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Advisor Services
No No
International Trading
Yes No
Offering of Investments 5 2
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 5 2
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
453 4
Two-Factor Authentication Login
Yes No
Heat Mapping
Yes No
Platforms & Tools 4.5 2
Winner check_circle

Charting Features

Feature Interactive Brokers ChoiceTrade
Charting - Trade Off Chart
Yes No
Charting - Indicators / Studies
121 20
Charting - Drawing Tools
9 0
Charting - Historical Trades
Yes No
Charting - Corporate Events
Yes No
Charting - Automated Analysis
No Yes
Charting - Save Profiles
Yes No
Charting - Study Customizations
6 1
Charting - Custom Studies
No No
Platforms & Tools 4.5 2
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 No
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 No
Trading - Option Rolling
No No
Touch / Face ID
Yes No
Winner check_circle

Mobile App Features

Feature Interactive Brokers ChoiceTrade
Watch List Syncing
Yes Yes
Stock Alerts - Basic Fields
Yes No
Charting - After Hours
Yes Yes
Charting - Drawing
No No
Charting - Study Customizations
Yes No
Customizable Homescreen
No No
Heatmapping
No No
Stream Live TV
Yes No
Barcode Lookup
No No
Mobile Trading 4.5 2
Winner check_circle

Research Overview

Feature Interactive Brokers ChoiceTrade
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
No 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 3.5 1.5
Winner check_circle

Stock Research

Feature Interactive Brokers ChoiceTrade
Stock Research - Reports
1 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 3.5 1.5
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 3.5 1.5
Winner check_circle

Mutual Fund Research

Feature Interactive Brokers ChoiceTrade
Mutual Funds - Strategy Overview
No No
Mutual Funds - Prospectus
Yes No
Mutual Funds - Reports
Yes No
Mutual Funds - Fees Breakdown
Yes No
Mutual Funds - Top 10 Holdings
No No
Mutual Funds - Asset Allocation
No No
Mutual Funds - Sector Allocation
No No
Mutual Funds - Country Allocation
No No
Mutual Funds - StyleMap
No No
Mutual Funds - 3rd Party Ratings
No No
Research 3.5 1.5
Winner check_circle

Options Trading

Feature Interactive Brokers ChoiceTrade
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
37 11
Option Chains - Greeks
4 1
Option Chains - Quick Analysis
Yes Yes
Option Analysis - P&L Charts
Yes Yes
Option Probability Analysis
Yes Yes
Option Probability Analysis Adv
Yes No
Option Positions - Greeks
Yes No
Option Positions - Adv Analysis
Yes No
Option Positions - Rolling
Yes No
Option Positions - Grouping
Yes Yes
Platforms & Tools 4.5 2
Winner check_circle

Beginners

Feature Interactive Brokers ChoiceTrade
Has Education - Stocks
Yes No
Has Education - ETFs
No No
Has Education - Options
Yes Yes
Has Education - Mutual Funds
No No
Has Education - Fixed Income
No 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 3 1
Winner check_circle

Banking

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

Overall

Feature Interactive Brokers ChoiceTrade
Interactive Brokers Review ChoiceTrade Review
Overall 4 2.5
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 charge the same amount for regular stock trades, $0. For options trading, both ChoiceTrade and Interactive Brokers charge the same base fee of $0. 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, Interactive Brokers offers its clients access to 11000 different mutual funds while ChoiceTrade has 0 available funds, a difference of 11,000.

Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. ChoiceTrade and Interactive Brokers both 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 available to clients of Interactive Brokers while ChoiceTrade offers customers 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 02/18/2019 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.

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