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. ChoiceTrade and TradeStation both cost $0 per trade. Looking at options, the base fees charged are the same for both brokers, $0. Option contracts are pricier at TradeStation, costing $0.50 versus $0.40 at ChoiceTrade. 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 provides its clients with Stock Trading and Options Trading while TradeStation provides clients access to Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, TradeStation boasts an offering of 4357 mutual funds compared to ChoiceTrade's 0 available funds.
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 supports the iPhone App and Android App while TradeStation supports 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. Banking is not popular with ChoiceTrade and TradeStation as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable.
Overall, between ChoiceTrade and TradeStation, TradeStation is the winner.