Launched in 2000, ChoiceTrade is an online stock trading broker and flat-fee options provider. They provide active and self-directed traders with a range of trading platforms and tools to suit each individual style and experience level.
The broker offers low, fair, and simple pricing for all account sizes. Commission fees for options are $5 plus 0.15 per contract or $10 plus 0.00 per contract. Stock trading commissions start from $0 with a $5 monthly fee. They have a range of exclusive products that include WatchPlus, Power Basket, and Options Strategy Identifier.
ChoiceTrade Review Introduction
In this ChoiceTrade review, we will take a look at some of the most important factors worth considering when choosing a broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
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ChoiceTrade Platforms & Tools
ChoiceTrade provides clients with a variety of premium paid online trading platforms that allow them to trade from anywhere in the world, provided there is an internet connection. The various trading platforms are available and can be accessed via desktop, web browser as well as easy to use and convenient mobile apps. The trading platforms include:
An online streaming stock quote platform, QuoteStream can be launched directly from the broker’s website for stock and options trading. The platform delivers free real-time market quotes with advanced market data/research and technical stock trading analysis and capabilities.
ChoiceTrade Elite Trader
This is the premium web platform; it offers simple trading yet has a wide range of trading tools. There are proprietary rankings, advanced charts, and screeners, as well as fundamentals that can help traders with their trading decisions.
ChoiceTrade Direct Pro Trader
A level II direct access stock trading platform, ChoiceTrade Direct Pro Trader offers more advanced trading tools. It is designed specifically for the more active stock and options trader.
ChoiceTrade Research & Education
The broker’s website has some tutorials and articles on how to use the various trading platforms amongst other topics.
ChoiceTrade Trading Accounts
ChoiceTrade offers a variety of account types to choose from. They include Individual, Joint, Custodial, IRA, and Specialty Accounts. There is a required minimum deposit of $100 to open a ChoiceTrade account. If you apply for a margin account, there is a $2,000 required minimum deposit.
ChoiceTrade Account Funding
The broker accepts only bank transfer for account funding and withdrawals. Transactions can take a few business days to clear. Third-party payments are not accepted, and the broker does not charge a deposit fee. Accounts can be opened only in USD, so currency conversion fees are charged when accounts are funded in another currency.
ChoiceTrade Customer Service
ChoiceTrade provides traders with a personalized customer support team that answers any general, technical, and account-based questions that clients may have. They are available from Monday to Friday from 9:00 am to 5:00 pm (EST) and can be reached via telephone and email.
ChoiceTrade is registered with the Securities and Exchange Commission (SEC). The SEC is an independent federal government agency of the United States that is responsible for protecting investors, maintaining fair and orderly functioning of the securities markets, and facilitating capital formation.
ChoiceTrade Review Summary
ChoiceTrade is an online stock and options broker that has competitive commission fees with a variety of powerful and flexible trading platforms to choose from.
It is worth mentioning that some of the trading products and services in this ChoiceTrade review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the ChoiceTrade broker website which you can visit by using the link below.
Trading complex instruments can come with a high risk. You should consider whether you understand how investments and trading work and whether you can afford to take the high risk of losing all of your money.