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 TradeStation.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. TradeStation, with its regular stock trades costing $5, is more expensive than ChoiceTrade's rate of $0 per trade. Looking at options, the base fees charged are the same for both brokers, $5. ChoiceTrade's per contract rate of $0.15 is less than TradeStation which charges $0.50. 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 TradeStation offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, ChoiceTrade trails TradeStation by 4,357 total mutual funds, with TradeStation offering 4357 and ChoiceTrade offering 0.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. ChoiceTrade alongside TradeStation offer virtual trading. Taking a look at mobile trading, ChoiceTrade offers the iPhone App and Android App while TradeStation offers the 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. Unfortunately, Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are not available at ChoiceTrade or TradeStation . On the whole, when it comes to tools, research, and mobile trading, ChoiceTrade along with TradeStation both finished with awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, between ChoiceTrade and TradeStation, TradeStation is the winner