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Interactive Brokers vs ChoiceTrade Review

Brandon Reinkensmeyer

Published by Brandon Reinkensmeyer


Wednesday, July 12th, 2017

Using data from the StockBrokers.com 2017 Broker Rankings, we can compare ChoiceTrade vs Interactive Brokers to determine which broker is better for you. Our database includes thousands of data points on everything from research to trading tools. Let's take a closer look at ChoiceTrade and Interactive Brokers.

First we will break down the commission charges of both brokers for placing stock and options trades. 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). At a difference of $0.20 per contract, ChoiceTrade's per contract rate of $0.50 is less than Interactive Brokers which charges $0.70. Note that flat rate trading is not available everywhere though, so it is important to read the complete commission notes for each broker to know the full breakdown (go to any stock broker review page, then scroll down to the "Commission Notes" section).

Trading fees aside, having access to trade what you want is also an important consideration. Interactive Brokers offers clients Stock Trading, Options Trading, Mutual Funds and Futures Trading while ChoiceTrade offers Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Interactive Brokers boasts an offering of 8026 compared to ChoiceTrade's 500 available funds. And, commission free ETFs deserve a mention, Interactive Brokers offers 33 versus ChoiceTrade's total of 0.

Finally, by looking at the most popular features and offerings of each broker, we can really see the differences between the two. ChoiceTrade and Interactive Brokers both have virtual trading. For mobile trading, Interactive Brokers supports the iPhone App, iPad App and Android App while ChoiceTrade supports the none of these. Online banking is also used by many clients, and multiple brokerages provide these services. Neither ChoiceTrade nor Interactive Brokers offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. All things considered, when it comes to platform tools, research, and trading via smartphone, Interactive Brokers posted awards for Best in Class - Platforms & Tools and Best in Class - Mobile Trading in 2014, while ChoiceTrade found itself with none of these.

Overall, Interactive Brokers comes out on top with 4.00 stars over ChoiceTrade's 2.00 stars.
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Overall
Commissions & Fees
Offering of Investments
Platforms & Tools
Research
Customer Service
Mobile Trading
Ease of Use
Education
Order Execution
Banking
Stock Trade Fee (flat)
Options Base Fee
Options Per Contract Fee
Mutual Fund Trade Fee
Broker Assisted Trades Fee
Minimum Deposit
No Inactivity Fees
No Fee IRAs
Stock Trading
Options Trading
Mutual Funds
Forex Trading
Futures Trading
Desktop Platform (Windows)
Web Platform
Virtual Trading
Charting - Drawing Tools
Charting - Indicators / Studies
Option Chains - Total Columns
Watch Lists - Total Fields
iPhone App
iPad App
Android App
Android Tablet App
Apple Watch App
Trading - After-Hours
Trading - Mutual Funds
Trading - Conditional Orders
Trading - Simple Options
Trading - Complex Options
Commission Free ETFs
Mutual Funds (No Load)
Mutual Funds (Total)
# of Easy to Borrow Stocks
Retail Locations
Two-Factor Authentication Login
Under $24,999.99
$25,000.00 to $49,999.99
$50,000.00 to $99,999.99
$100,000.00 to $249,999.99
$250,000.00 to $499,999.99
Above $1,000,000.00
$500,000.00 to $999,999.99
Checking Accounts
Savings Accounts
Credit Cards
Debit Cards
Mortgage Loans
No Fee Banking
Interactive Brokers
Special Offer Trade on over 100 market centers in 24 countries Learn More
Interactive Brokers Review
 
4
4.5
4.5
4.5
3
3.5
4
2.5
3
5
0.5
 
N/A
$0.00
$0.70
$14.95
$30.00
$10,000.00
No
No
 
Yes
Yes
Yes
No
Yes
 
Yes
Yes
Yes
9
124
37
338
 
Yes
Yes
Yes
Yes
Yes
 
Yes
No
Yes
Yes
Yes
 
33
5823
8026
4500
0
Yes
 
1.91%
1.91%
1.91%
1.61%
1.61%
1.41%
1.61%
 
No
No
No
No
No
No
ChoiceTrade
ChoiceTrade Review
 
2
4
3
1
1
3
0.5
0.5
1
1
0.5
 
$5.00
$5.00
$0.50
$25.00
$25.00
$0.00
No
No
 
Yes
Yes
Yes
No
No
 
No
Yes
Yes
0
20
11
4
 
No
No
No
No
No
 
No
No
No
No
No
 
0
235
500
2500
0
No
 
7.45%
7.45%
7.45%
7.45%
7.45%
7.45%
7.45%
 
No
No
No
No
No
No

All pricing data was obtained from a published web site as of 2/20/2017 and is believed to be accurate, but is not guaranteed. The StockBrokers.com staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. 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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