In this guide

  • Review
  • Details
    • Features
  • Your reviews
  • Ask an expert
Finder makes money from featured partners, but editorial opinions are our own. Advertiser disclosure
ChoiceTrade

ChoiceTrade isn't available on Finder right now.

Stock trade fee
$0
Minimum deposit
$100
Paid non-client promotion. Finder does not invest money with providers on this page. If a brand is a referral partner, we're paid when you click or tap through to, open an account with or provide your contact information to the provider. Partnerships are not a recommendation for you to invest with any one company. Learn more about how we make money. Finder is not an adviser or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.

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.

In this guide

  • Review
  • Details
    • Features
  • Your reviews
  • Ask an expert

Details

Features

Account types Brokerage, Retirement, Robo-Advisor
Annual fee N/A
Available asset types Stocks, 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.

Pros

  • 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.

Cons

  • 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.

ServiceFees
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
Confirmation
  • $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.

Eligibility

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 service@choicetrade.com.
  • Secure online form. Reach out through the site’s Contact Us page.

Compare Choicetrade to other platforms

ChoiceTrade logo

ChoiceTrade

Read Review


Available asset types

Stocks, Options, ETFs


Stock trade fee

$0


Minimum deposit

$100


Complete signup bonus

SoFi Invest logo

SoFi Invest

★★★★★

Finder rating 4.6 / 5

Go to site


Available asset types

Stocks, Options, ETFs, Cryptocurrency


Stock trade fee

$0


Minimum deposit

$0


Complete signup bonus

Get up to $1,000 in stock when you fund a new account within 30 days.

eToro logo

eToro

★★★★★

Finder rating 4.2 / 5

Go to site


Available asset types

Stocks, Options, ETFs, Cryptocurrency


Stock trade fee

$0


Minimum deposit

$0


Complete signup bonus

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.

Paid non-client promotion. Finder does not invest money with providers on this page. If a brand is a referral partner, we're paid when you click or tap through to, open an account with or provide your contact information to the provider. Partnerships are not a recommendation for you to invest with any one company. Learn more about how we make money.

Finder is not an adviser or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.

Your reviews

No reviews yet. Write a review

Ask an expert

Ask a question
Avatar

Kliment Finder

Writer

Hi there, looking for more information? Ask us a question.

Error label

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Go to site