ChoiceTrade is an online stock and options broker with low fees and a variety of advanced paid trading platforms to choose from. However, they do not offer other markets and funding options are limited compared to other online brokers.

online brokers show 1 ChoiceTrade Review, Pros & Cons 2 ChoiceTrade Overview 3 ChoiceTrade Regulation 4 ChoiceTrade Countries 5 ChoiceTrade Platforms 5.1 QuoteStream Trader 5.2 ChoiceTrade Elite Trader 5.3 ChoiceTrade Direct ProTrader 6 ChoiceTrade Trading Tools 7 ChoiceTrade Education 8 ChoiceTrade Instruments 9 ChoiceTrade Accounts & Fees 9.1 Option Trades Fees 9.2 Stock Trades Fees 10 ChoiceTrade Support 11 ChoiceTrade Deposit & Withdrawal 12 ChoiceTrade Account Opening 13 ChoiceTrade Summary

ChoiceTrade Review, Pros & Cons
  • Strict regulation
  • SIPC member
  • Low stock fees
  • Stocks & Options only
  • No forex, cryptos, CFDs
  • Options pricing higher than industry average
  • Restricted leverage
  • Limited educational material
  • Limited funding options
  • Premium paid platforms only
  • No live online chat support
  • USD accounts only
  • In this detailed ChoiceTrade review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

    ChoiceTrade Overview

    ChoiceTrade is an online stock trading broker and flat fee options provider. They offer 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.

    ChoiceTrade has been operating as an advanced-technology securities brokerage firm since 2000. They primarily cater to active and self-directed traders, providing a range of trading platforms and tools so suit each individual style and experience level.

    Client feedback rates ChoiceTrade as excellent on Trustpilot. The low trading fees and support offered from staff are frequently praised in the testimonials.

    ChoiceTrade Trustpilot

    ChoiceTrade have continued to rank high in surveys conducted by the respected investment publication Barron’s. They have been mentioned for their trade experience, trade technology and usability.

    ChoiceTrade are constantly looking to innovate their trading services and have a range of exclusive products that includes WatchPlus, Power Basket and their Options Strategy Identifier. The high-capacity systems incorporated help to ensure that all trades are executed quickly, securely and accurately.

    ChoiceTrade Regulation

    ChoiceTrade is registered with the Securities and Exchange Commission (SEC) in the United States and a member of the Securities Investor Protection Corporation (SIPC). ChoiceTrade accounts are protected by SIPC for up to $500,000 ($250,000 cash maximum). The SIPC is a federally mandated, non-profit, member-funded, United States corporation created under the Securities Investor Protection Act of 1970 that mandates membership of most US-registered broker-dealers. The SEC is an independent federal government agency responsible for protecting investors, maintaining fair and orderly functioning of the securities markets, and facilitating capital formation.

    ChoiceTrade Countries

    Although ChoiceTrade is a US broker, they do accept clients from all over the world. There are some countries which are excluded such as Canada, Indonesia, Malaysia, United Arab Emirates, Russia, etc. Some ChoiceTrade broker features and products mentioned within this ChoiceTrade review may not be available to traders from specific countries due to legal restrictions.

    ChoiceTrade Platforms

    ChoiceTrade supply a variety of premium paid online trading platforms that allow you to trade how you want and from anywhere in the world with an internet connection. You can access your trading account via desktop, web browser, as well as easy to use and convenient mobile apps.

    There are the basic web trading platforms that offer simplicity, ease of use and low costs. Or, there is the ChoiceTrade Direct Pro platform that enhances the overall trading experience complete with the necessary tools for analysing the markets and making decisions. The ChoiceTrade website has plenty of resources and tutorials to learn how to use each of the platforms.

    You can test drive the ChoiceTrade stock trading platform with a free practice account that comes funded with $100,000 in virtual money. This is a good way to see if the platform and trading conditions are suitable for your needs.

    QuoteStream Trader

    Quotestream is the online streaming stock quote platform that you can launch directly from the ChoiceTrade website for stock and Options trading.

    The reliable Quotestream platform gives freedom for all clients to trade how they want. It delivers free real-time market quotes with advanced market data/research and technical stock trading analysis capabilities.

    ChoiceTrade Quotestream Platform

    QuoteStream Trader Features:

  • Broad market coverage
  • Fully customisable interface
  • Low latency tick-by-tick real time streaming data
  • Advanced integrated charting for conducting detailed analysis
  • Range of built-in technical analysis tools including heat maps
  • News & research data
  • No downloads or installations required
  • ChoiceTrade Elite Trader

    ChoiceTrade Elite is the latest premium web platform that has been designed for simple trading yet has a wide range of trading tools to give clients robust trading capability and analytics. There are proprietary rankings, advanced charts and screeners, institutional, valuation, and fundamentals that can help traders with their trading decisions.

    ChoiceTrade Elite Trader

    ChoiceTrade Direct ProTrader

    ChoiceTrade Direct ProTrader is a Level II direct access stock trading platform that offers more advanced trading tools and includes real-time streaming quotes, streaming data, dynamic charts, analytics and more, in your browser or desktop. It has been designed for the more active stock and Options traders.

    ChoiceTrade Direct ProTrader Level 2 Pricing

    ChoiceTrade Direct ProTrader Features:

  • Real-time Level 2 trading
  • Intraday charting
  • Real-time market news
  • Dynamically updating time & sales windows
  • ECN books
  • Top list window
  • #1 Best Trading Broker Award 2021 AvaTrade is an award-winning trading broker that is regulated in 6 jurisdictions offering 1250+ instruments across multiple markets & trading platforms for web, desktop & mobile devices. They have low fees, tight spreads & rapid trade execution speeds.

    Trade! Trade!

    ChoiceTrade Trading Tools

    The advanced and powerful trading tools offered by ChoiceTrade can be found built into the premium paid trading platforms. Each platform has a variety of different tools for analysing the markets and conducting your trade activity. There are however no separate tools such as trade calculators that some other brokers offer.

    ChoiceTrade Education

    ChoiceTrade is focused on offering powerful platforms and tools to traders and thus do not provide much educational materials. There are however some tutorials and articles covering the trading platforms amongst other topics.

    ChoiceTrade Instruments

    ChoiceTrade is a stock and options trading broker. Therefore, they do not offer forex, futures, commodities, cryptocurrencies, bonds, CFDs, or mutual funds (except for closed-ended funds traded on the open market). However, OTC and Pink Sheet stocks are supported.

    ChoiceTrade Accounts & Fees

    ChoiceTrade have a variety of accounts to choose from including individual, joint, custodial and speciality accounts. There is a $100 minimum to open a ChoiceTrade account. If you apply for a margin account, there is a $2,000 minimum.

    ChoiceTrade Account Types

    The monthly account maintenance fee is $5. There is a one off individual foreign account setup fee of $25 or $100 for a foreign entity account. There are inactivity fees and other fees that can be found on the ChoiceTrade website.

    Option Trades Fees

    The default pricing plan is $5.00 per trade plus 0.15 cents per contract. Regulatory fees, exchange fees and index option surcharges are extra. $10.00 per trade with no contract fee plan is not available to accounts with naked option writing permission. You may switch between pricing plans no more than once a month.

    Stock Trades Fees

    $0 per trade applies to online Day orders, Market or Limit, in Nasdaq and NYSE stocks and ETFs executed at $1 or more per share. Other orders in listed stocks are $5. Day+Ext (pre and post market) add $0.005 per share. OTC stock trades are $7 plus applicable surcharges. $0 commission pricing model carries a $5 monthly fee. You may switch between pricing plans no more than once a month.

    ChoiceTrade Stock & Options Fees

    As broker fees can vary and change, there may be additional fees that are not listed in this ChoiceTrade review. It is imperative to ensure that you check and understand all of the latest information before you open a ChoiceTrade broker account for online trading.

    ChoiceTrade Support

    ChoiceTrade provide real-time, personalised customer support from a team of experts who have the know-how and expertise to answer any general or technical questions that you may have. Support is available via telephone and email, Mon – Fri 9:00 AM to 5:00 PM (EST). If you are not located in the USA then you will need to take into consideration the time difference. It would perhaps be more convenient for some users if they were to offer customer support via online chat.

    ChoiceTrade Deposit & Withdrawal

    ChoiceTrade funding options are very limited with only bank transfer currently offered. It would be more convenient if they offered a variety of different deposit and withdrawal methods that included online payment processors such as Skrill, Neteller and PayPal.

    ChoiceTrade do not charge a deposit fee. The domestic outgoing wire fee is $35 and foreign outgoing wire fee $60. Fees are charged for failed transfers. There may also be other fees involved.

    Bank transfers can take a few business days to clear. ChoiceTrade strictly do not accept third-party payments. All funds deposited into your trading account must be under the same name as your ChoiceTrade trading account.

    Accounts can be opened only in USD. This means that a currency conversion fee may apply if you are funding the account in another currency.

    ChoiceTrade Account Opening

    There is an online form that you must complete to apply for an account with ChoiceTrade. You can choose the account type, fill in personal information and investment profile, read agreement, review and submit. You may also request a new account packet by mail or download the forms you need from the website.

    ChoiceTrade Account Opening Form

    They are required by US law to ask for photo identification such as a passport or driver’s license. You will also need to upload a bank statement with a name and address that matches the name and address on your account application. This will be the bank account that you will be using to fund your trading account. Once your documents have been verified, you can fund your account and begin trading.

    ChoiceTrade Summary

    ChoiceTrade is an online stock and options broker that has competitive commission fees, with a variety of powerful and flexible paid trading platforms to choose from. Educational materials and funding options are limited. They do not provide forex, cryptocurrency or CFD trading.

    Min $100 Deposit

    ChoiceTrade is an online stock & options broker with low fees & a variety of advanced paid trading platforms to choose from. However, they do not offer other markets & funding options are limited.

    ChoiceTrade Details

    Deposit Methods:
    Cost and Earnings:
    Restricted Countries: