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 5,000 data points, let's compare ChoiceTrade vs TradeStation Securities.
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 Securities both cost $5 per trade. Looking at options, the base fees charged are the same for both brokers, $5. Option contracts at both of the brokerages are the same at $0.50 each. 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. TradeStation Securities offers clients Stock Trading, Options Trading, Mutual Funds and Futures Trading while ChoiceTrade offers Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, TradeStation Securities offers its clients access to 4951 different mutual funds while ChoiceTrade has 500 available funds, a difference of 4,451. Commission free ETFs can also be valuable for customers, which in this case means trading a possible 0 commission free ETFs at both brokers.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Both ChoiceTrade and TradeStation Securities offer 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. Banking is not popular with ChoiceTrade and TradeStation Securities as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable. On the whole, when it comes to tools, research, and mobile trading, TradeStation Securities finished with awards Best in Class - Platforms & Tools, while ChoiceTrade came up with none of these.
Overall, TradeStation Securities comes out on top with 3.50 stars over ChoiceTrade's 2.00 stars.