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 SpeedTrader.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. SpeedTrader charges more than ChoiceTrade for placing regular stock trades ($4.49 and $0, respectively). With options, the base fee is $0 for both ChoiceTrade and SpeedTrader. SpeedTrader's per contract rate of $0 is less than ChoiceTrade which charges $0.40. 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 alongside SpeedTrader offer clients Stock Trading and Options Trading. Looking at mutual funds, both brokers offer clients access to the same number of mutual funds, 0.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Both ChoiceTrade and SpeedTrader offer virtual trading. Taking a look at mobile trading, ChoiceTrade along with SpeedTrader both support the iPhone 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. Banking is not popular with ChoiceTrade and SpeedTrader as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable.
Overall, between ChoiceTrade and SpeedTrader, SpeedTrader is the winner.