Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare ChoiceTrade vs TD Ameritrade to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing stock and options trades. ChoiceTrade and TD Ameritrade charge the same amount for regular stock trades, $0. Looking at options, the base fees charged are the same for both brokers, $0. Each option contract then costs $0.65 at TD Ameritrade and $0.40 at ChoiceTrade. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews.
Next, investors want to make sure they can trade the investment vehicle they want. ChoiceTrade supports Stock Trading and Options Trading while TD Ameritrade supports Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading. As far as mutual funds go, TD Ameritrade offers its clients access to 11949 different mutual funds while ChoiceTrade has 0 available funds, a difference of 11,949.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. ChoiceTrade alongside TD Ameritrade offer virtual trading. For mobile trading, ChoiceTrade offer clients access to an iPhone App and Android App while TD Ameritrade has an iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts, Debit Cards and Credit Cards are offered by TD Ameritrade while ChoiceTrade offers none of these.
Overall, between ChoiceTrade and TD Ameritrade, TD Ameritrade is the winner.
TD Ameritrade Review