Using data from the StockBrokers.com 2017 Broker Rankings
, we can compare ChoiceTrade vs TradeStation Securities 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 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. 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. TradeStation Securities offers clients Stock Trading, Options Trading, Mutual Funds and Futures Trading while ChoiceTrade offers Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, TradeStation Securities offers its clients access to 4854 different mutual funds while ChoiceTrade has 500 available funds, a difference of 4,354.00. And, commission free ETFs deserve a comparison, which for investors means access to 0 commission free ETFs at both brokers.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Both ChoiceTrade and TradeStation Securities offer virtual trading. For mobile trading, TradeStation Securities offer clients access to an iPhone App, iPad App and Android App while ChoiceTrade has an none of these. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Neither ChoiceTrade nor TradeStation Securities offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. All factors considered, when it comes to platform tools, research, and mobile trading, TradeStation Securities finished with awards Best in Class - Platforms & Tools in 2017, while ChoiceTrade came up with none of these.
Overall, TradeStation Securities boasts 3.50 stars versus ChoiceTrade's 2.00 stars.