Comparing brokers side by side is no easy task. For our 2017 Broker Review
, we factored in 308 different variables to assess 16 different brokers. So when taking a look at ChoiceTrade vs TradeStation Securities, there is a huge database of information available to us.
To start this comparison, first we will take a look at the broker commission rates for placing regular stock and options trades. ChoiceTrade and TradeStation Securities both cost $5 per trade. For options trading, both ChoiceTrade and TradeStation Securities charge the same base fee of $5. Contracts cost $0.50 each at both brokerages. Not all brokers charge a flat rate fee per trade though, so it is important to read the full commission notes to know the complete breakdown (go to any online broker review
page, then scroll to the "Commissions Notes" section).
Next to commission rates, being able to trade the instrument you want is important. TradeStation Securities provides its clients with Stock Trading, Options Trading, Mutual Funds and Futures Trading while ChoiceTrade gives clients access to Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, TradeStation Securities boasts an offering of 4854 compared to ChoiceTrade's 500 available funds. Commission free ETFs also should not be forgotten, which is a wash in this comparison as both ChoiceTrade and TradeStation Securities offer 0 funds.
Lastly, taking a look at popular features and functionality, we can go a bit deeper to really break down the difference of both brokers. ChoiceTrade and TradeStation Securities both have virtual trading. Taking a look at mobile trading, TradeStation Securities offers the iPhone App, iPad App and Android App while ChoiceTrade offers the none of these. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Neither ChoiceTrade nor TradeStation Securities offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. On the whole, when it comes to tools, research, and trading on the go, TradeStation Securities was rated for Best in Class - Platforms & Tools in 2014, while ChoiceTrade was rated for none of these.
Overall, TradeStation Securities boasts 3.50 stars versus ChoiceTrade's 2.00 stars.