ChoiceTrade Broker Review and Opinions

Trading

ChoiceTrade is an online broker offering trading on stocks, ETFs and options. It has the approval of both the SEC and FINRA and boasts impressive investor protection measures.

Platforms range from a straightforward web-based interface, to desktop dashboards and apps for mobile devices. All offer low latency execution, technical analysis charts and advanced market data.

Opinions

ChoiceTrade is one of the most renowned and reliable forex brokers, regulated by two top-tier US regulators: Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA). The company provides a full selection of trading instruments such as stocks, ETFs and options.

When selecting an online broker, traders have many options to choose from. Some of the more renowned companies include TD Ameritrade, E*Trade and Interactive Brokers; however ChoiceTrade stands out due to its low cost of trading and advanced platform. Plus they provide a free demo account which makes getting started easy! Their blog also provides plenty of educational resources and tools that will assist in making informed trades; plus there’s always someone helpful on hand if needed! Furthermore, their website is user friendly with responsive customer support staff ready to answer queries quickly when necessary.

Benefits

ChoiceTrade is an online broker offering low-cost stock, ETF and option trading for both US and international clients. It also has a user-friendly mobile platform for on-the-go trading.

The company is regulated by both the SEC and FINRA, with low trading fees and excellent customer service often praised by investors.

Their auto staging tool enables you to set up trades recommended by newsletters so they can be executed automatically without manual entry into your account. Furthermore, they have a powerful portfolio widget which streams time and sales data across all of your portfolio positions.

Their standard web platform is unintuitive and cumbersome to use, while charting is outdated compared to more modern offerings from competitors. Furthermore, they lack many technical features that sophisticated or day traders may desire.

Deposit and withdrawal

ChoiceTrade offers various deposit and withdrawal methods. It accepts various payment methods such as credit/debit cards and PayPal.

Bank transfers are also accepted, though you should be aware of any fees that may apply. Furthermore, it can take several days for funds to be deposited into your account.

The broker offers a selection of account types, such as individual, joint, custodial and specialty accounts. On its website you can find the minimum deposit requirements for each type of account; however if you would like further information please reach out to customer support.

The platform’s software structure is somewhat confusing, as there is no discernible progression among its three products. For instance, features available on Quotestream at low prices will not be available in Elite; thus, users may struggle to determine which option is best suited for them.

Trading platform

ChoiceTrade is a US-based online broker that provides no-cost trading of stocks and ETFs. It is regulated by the SEC and FINRA with excellent investor protection.

The trading platform is user-friendly and provides a range of tools. It supports up to 300 symbols per portfolio, seven chart types, as well as drawing tools.

Additionally, the pro version allows users to set up price alerts and keep a watchlist. Furthermore, it provides streaming data.

The broker also charges a few fees. An inactivity fee of $40 applies if you trade less than five times per quarter, while withdrawal fees for bank transfers are charged as well.

Pros and cons

ChoiceTrade is an affordable online stock broker with fast and seamless executions, advanced trading tools, and multiple platforms. Its offerings range from a straightforward web-based interface to desktop dashboards and mobile applications.

Choicetrade is a highly-regulated US stock broker, registered with both the SEC and FINRA – two prestigious US regulators.

The brokerage offers low trading fees, allowing clients to trade listed stocks and ETFs without incurring a commission. Unfortunately, there are also high non-trading costs.

Furthermore, credit cards are not accepted and the deposit process isn’t particularly user-friendly.

The broker’s product offering is limited to stocks and options traded on US and Canadian exchanges. Unfortunately, they do not support futures, mutual funds, or bonds.

Account opening and login

ChoiceTrade boasts a user-friendly account opening and login process that is available online, by mail or downloads. Furthermore, the broker provides an e-mail contact form for customer support inquiries.

The company provides various accounts, such as individual, joint, custodial and IRA ones. Its minimum deposit for cash accounts is $100 while margin accounts require a minimum of $2,000 deposit.

Replenishment and withdrawal of funds are also possible, which can be done via bank transfer or ACH.

ChoiceTrade customer support is available Monday through Friday from 9 am to 5 pm (Eastern time). Its phone representatives answer quickly and offer assistance in multiple languages.

Education

Choicetrade boasts a number of features that make it an ideal choice for both experienced and novice investors alike. Its customer service is top notch, while the broker’s mobile app is user-friendly and convenient to use.

ChoiceTrade also provides a demo account, perfect for novice traders. With this account, you can test out your trading strategies without risking any real money.

Furthermore, the broker’s online education portal is an invaluable resource for learning about different markets and trading techniques. Its interactive tutorials offer invaluable insight into both the industry and how to enhance your trading performance.

In 2018, the company made significant improvements to their platform. The updated app includes features that simplify investing and eliminate common roadblocks. Furthermore, global investors can now trade stocks and options at lower minimums.

Customer service

Choicetrade’s customer service is speedy and efficient, answering your questions on the phone within minutes or seconds. Email inquiries are generally responded to within a day or two as well.

Choice trade customer service could be improved, however. They could provide traders with better information and assist them in understanding their questions more clearly.

They should provide regional linguistic phone numbers for traders to contact them if there are any issues. Doing this would help resolve their disputes quickly.

Choicetrade’s pricing structure is straightforward and transparent, offering a flat rate of $5 for stock trades and an additional 15 cents per contract for options trades. Furthermore, it charges fees for monthly account maintenance, outgoing wires, and broker-assist surcharges.

Demo account

Demo accounts offer an ideal way to test an online broker’s trading platform and services without risking real money. Furthermore, they enable you to experiment with new trading strategies and learn how to invest.

ChoiceTrade is a US-based broker that provides an array of trading instruments and favorable conditions. Plus, they provide a free demo account as well as low minimum deposit requirements.

In the United States, they are regulated by the Securities and Exchange Commission (SEC). This indicates they are trustworthy and secure to use.

The broker offers a range of accounts, such as individual, joint, custodial and speciality ones. Their minimum opening deposit for basic accounts is $100 while margin accounts require at least $2,000 in capitalization.

PLEASE NOTE: The articles on this website are not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future.

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