ChoiceTrade review

Get low commissions, fast trades and a variety of advanced trading platforms.

ChoiceTrade offers one of the lowest commissions you can find on stocks, exchange-traded funds (ETFs) and options. Pair excellent trading platforms with advanced tools and research, and it’s worth considering for experienced traders. You can open an account with a minimum deposit of $100, but you’ll find the best value for accounts of $30,000 or more.

  • Consider ChoiceTrade ifyou’re an active trader looking for fast execution, a robust trading platform and $0 commission on stocks and ETFs.
  • Look elsewhere if you are a beginner or a long-term investor who wants to trade mutual funds, bonds, futures or even cryptocurrencies.
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Account typesBrokerage, Retirement, Robo-Advisor
Annual feeN/A
Asset typesStocks, Options, ETFs

What investments does ChoiceTrade offer?

Though ChoiceTrade targets professional and active traders, it doesn’t offer a high variety of financial instruments to invest in. More experienced traders may be turned off by the lack of mutual funds, bonds, cryptocurrencies and futures on the app.

Who is ChoiceTrade best for?

ChoiceTrade is best for active and professional traders — preferably investors with accounts of $30,000 or more. With an account of $30,000 or more, you get the $29.95 monthly fee waived for the ChoiceTrade Elite platform.

Pros and cons

ChoiceTrade can be a valuable broker for the right trader, but paying the platform fees may not be worth it for everyone.


  • Multiplatform. Three platforms vary from a simple web-based platform to a desktop dashboard with multiple tools and features — each paired with mobile apps. All three platforms offer low latency execution, technical analysis charts, advanced market data, including Level 2 if you subscribe, and mobile apps for iOS and Android.
  • Real-time quotes. Unlike some brokers such as Interactive Brokers that charge fees or delay quotes, ChoiceTrade shows you the exact price in real time.
  • Low-latency execution. Unlike some platforms — such as SoFi and Robinhood, where they group all customer orders and send them to market makers — ChoiceTrade offers direct market access. This gives you faster execution at a favorable price.
  • $0 commissions on stocks and ETFs. ChoiceTrade is one of the rare brokers that offers real-time quotes, advanced technical analysis tools and $0 commission on US-traded stocks and ETFs.
  • Auto-staging. Subscribe to signal services and automatically trade what they suggest. This isn’t like auto trading or robo-advisors because you approve each signal trade.


  • Multiple platform fees. ChoiceTrades compensates for low commissions with fees. Expect to pay from $14.35 to $135 monthly for platforms.
  • Limited trading instruments. You can’t trade currencies, mutual funds, bonds or cryptocurrencies. If you want to trade these instruments, consider other brokers.

Fees and costs

Brokers that offer fast execution for professional traders are often more expensive than platforms like Robinhood that are designed for beginners. That’s because exchanges charge fees to brokers, which are then passed on to traders. Platforms like SoFi and Robinhood sell clients’ orders in bulk to market makers and offset these fees, which is why these platforms are often cheaper for their clients. But the trade-off is, your orders will often be executed at a poor price.

Similar to SoFi and Robinhood, ChoiceTrade offers $0 commissions for most stocks and ETFs. But unlike the first two, ChoiceTrade charges fees for its platforms to offset the exchange costs and earn a profit.

Stocks and ETFs executed on the NYSE, NYSE American and Nasdaq exchanges
  • $0 commission per trade with $100 minimum account balance for stocks and ETFs priced at $1 or more per share
  • $0.005 per share for pre-market and after-hours trades
  • Stocks and ETFs trading below $1 cost $12 plus applicable surcharges
Stocks traded through tZERO ATS2% of trade value or $25 minimum
Other US stocks up to 10,000 shares per trade
  • $0.0007 per share over 10,000
  • $100 minimum balance required for OTC stocks
Options$0 per trade + $2 per contract with maximum $25 per trade:

  • Maximum 250 contracts per leg
  • Maximum 4 legs per trade
  • $5 exercise and assignment fee
Monthly platform fees
  • Quotestream — $14.95 a month
  • Pro — $24.95 a month
  • ChoiceTrade Elite — $29.95 a month
    • Waived for accounts of $30,000+
    • Direct Pro — $135 a month
Nasdaq Level 2$15 or $25 a month — depends on platform
Monthly maintenance fee
  • $0 for US accounts
  • $10 for non-US accounts
Wire transfer fees
  • $0 incoming domestic and foreign
  • $35 outgoing domestic
  • $60 outgoing foreign
Outgoing ACH fee$5 domestic only — limit 3 per month
Broker-assist surcharge$30 per trade
Automated Customer Account Transfer Service — transferring stocks and other securities from one account to another
  • $0 incoming ACAT
  • $75 outgoing ACAT ($35 if rejected by receiving broker)
  • $35 partial ACAT
Monthly Statement
  • $10 paper statement
  • $0 electronic statement
Archived statement fee$10
  • $1 per trade
  • Minimum $5 fee monthly for paper confirmation
  • $0 electronic confirmation
Individual foreign account setup fee$25 — one-time fee
Entity foreign account setup fee$100 — one-time fee
Forced margin/other sellout$55 other relevant fees still apply
Mandatory corporate action$35
Voluntary corporate action$50
Accounts that close without trading$25
Account reactivation$25
  • Inactivity fee
  • Individual and joint accounts
  • $40 quarterly
  • Fee is waived if you make 5 or more trades within the calendar quarter
  • Inactivity fee
  • Entity accounts
  • $50 monthly
  • Fee is waived if you make 5 or more trades within the month
Returned mail$10
Returned funding (wires, ACH’s, etc.)$40
Foreign entity annual review fee$200
Worthless security write-off fee$12 per stock
OTC stock carrying fee
  • $50 per stock monthly
    Applies to OTC stock positions of 100,000 shares or more.
  • $10 per stock monthly
    Applies to OTC stock positions of less than 100,000 shares.

How do I sign up?

Sign up for ChoiceTrade in five steps:

  1. Go to ChoiceTrade’s site and select Open Account at the top right.
  2. Select your account type — individual, joint, custodial, IRA or speciality account.
  3. Enter your email address and password.
  4. Complete the steps with your personal information, financial details and trading experience.
  5. Review and submit your application.


ClearTrade has two requirements for account holders:

  • Age 18 or older
  • $100 minimum deposit for cash accounts

Required information

Open your ChoiceTrade account with personal and financial details that include:

  • Name and contact information
  • Date of birth and SSN
  • Copy of driver’s license, passport or other government-issued ID
  • Employment status and source of income

Research tools

All ChoiceTrade platforms come with advanced charting tools to help you predict prices, with additional analysis options depending on the features you subscribe to:

  • Level 2 market data. See where the bulk of orders are positioned for an indication of where the price may go next.
  • Insider activity insights. Learn who’s buying or selling stock within a company you choose.

Is ChoiceTrade legit?

Yes. ChoiceTrade is an online broker and dealer with the US Securities and Exchange Commission (SEC) and is a member of the Securities Investor Protection Corporation (SIPC) and the Financial Industry Regulatory Authority (FINRA) under the CRD No. 104021.

ChoiceTrade was founded in 2000 and is headquartered in New Jersey.

ChoiceTrade reviews and complaints

ChoiceTrade isn’t as popular as Webull, Robinhood or TD Ameritrade, which might explain the limited customer reviews online. Customers on Trustpilot tend to praise ChoiceTrade’s customer service, but some complain about hidden fees, including the $40 inactivity fee charged each quarter and the OTC monthly carrying fee.

ChoiceTrade isn’t accredited by the Better Business Bureau (BBB) as of February 2022, and no customers have registered complaints through the site. It earns an A+ based on the BBB’s internal criteria designed to indicate how a company is likely to interact with its customers.

BBB ratingA+
BBB accreditedNo
BBB customer ratingN/A
Trustpilot score4.6/5 out of 57 customer reviews
Google Play app3.8/5 stars based on 6 reviews
Apple app store5/5 stars based on 2 reviews
Customer reviews verified as ofFebruary 2022

ChoiceTrade customer support

Get help from a representative in three ways:

  • Phone. Call 787-773-1848 on weekdays from 9 a.m. to 5 p.m. ET.
  • Email. Send a message to
  • Secure online form. Reach out through the site’s Contact Us page.

Compare with other stock trading platforms

1 - 7 of 7
Name Product Asset types Stock trade fee Minimum deposit Signup bonus
SoFi Invest
Stocks, ETFs, Cryptocurrency
$10 - $100
when you open an account and place a first crypto trade of $50 - $5,000+
A free way to invest in most equities.
Stocks, ETFs, Cryptocurrency
8%-12% of your deposit
when you sign up and deposit at least $50. T&Cs apply.
Trade stocks in the app or online with $0 commissions. Not available in NY, NV, MN, TN, and HI.
Stocks, ETFs, Cryptocurrency
Receive a free stock slice worth between $3–$300
when you sign up for an account and deposit at least $20.
Commission-free trading in stocks and ETFs with a social networking twist.
Stocks, Options, ETFs, Cryptocurrency
$200 in US stocks
when you open and fund an account with min. $2,000 for 3+ mos.
Trade stocks, options, ETFs and futures on mobile or desktop with this advanced platform.
JPMorgan Self-Directed Investing
Stocks, Bonds, Options, Mutual funds, ETFs
$125 - $625
when you open and fund an account with $25,000 - $250,000+
Stocks, Options, ETFs, Cryptocurrency
Get a free stock
when you successfully sign up and link your bank account.
Make unlimited commission-free trades, plus earn 3% interest on uninvested cash in your account with Robinhood Gold.
Stocks, Options, ETFs
Customize your trade platform or build your own Deep tools, charts and screens Analyzers to help you study before you trade

Compare up to 4 providers

*Signup bonus information updated weekly.

Bottom line

ChoiceTrade is a decent broker with low commissions on US-based stocks, ETFs and options. It is worth considering for the advanced trader who knows technical analysis. If you’re a beginner or want to trade cryptocurrencies, compare other brokers with lower fees and more.

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