ChoiceTrade Logo
Written by: Ádám N. Updated: Dec 2022
Expert verified
Recommended for
  • Investors and traders globally
Trusted broker
Regulated by top-tier financial authorities
Popularity
592 people chose this broker in the last 6 months
BrokerChooser Score
4.1/5

ChoiceTrade review summary

ChoiceTrade is a US stockbroker, regulated by top-tier US authorities the SEC and FINRA. ChoiceTrade charges no commission on listed stock and ETF trades. The mobile trading platform is user-friendly. The account opening is fully digital and fast, which is rare among US brokers. ChoiceTrade withdrawal fees - at $60 for non-US citizens and $35 for US residents - are high. The $35 quarterly inactivity fee is also pricey. Withdrawal is not user-friendly as you need to contact customer support to initiate it and only bank transfer is available You can only trade stocks, ETFs and options. BrokerChooser gave ChoiceTrade a 4.1/5 rating based on analyzing 500+ criteria and testing via opening a live account.

ChoiceTrade is a regulated broker, it is overseen by a top-tier financial regulator in the USA . ChoiceTrade is also covered by investor protection and it offers negative balance protection in selected jurisdictions. We at BrokerChooser always test brokers with real money, including the withdrawal process.

ChoiceTrade is available in United States

ChoiceTrade pros and cons

Pros Cons
Commission-free listed stock and ETF trades High non-trading fees
Fast and easy account opening Not user-friendly withdrawal
User-friendly mobile trading platform Limited product portfolio

ChoiceTrade main highlights

🗺️ Country of regulation USA
💰 Trading fees class Low
💰 Inactivity fee charged Yes
💰 Withdrawal fee amount $5
💰 Minimum deposit $100
🕖 Time to open an account 1-3 days
💳 Deposit with bank card Not available
👛 Depositing with electronic wallet Not available
💱 Number of base currencies supported 1
🎮 Demo account provided Yes
🛍️ Products offered Stock, ETF, Options
To read much more details about the broker's services and features, expand on the sections below.

ChoiceTrade review
Fees

3.9
ChoiceTrade charges low trading fees and you can trade listed stocks and ETFs with no commission. On the flip side, non-trading fees are high.
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ChoiceTrade review
Account opening

4.2
Opening an account at ChoiceTrade is easy, fast and fully digital for both US and international clients.
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ChoiceTrade review
Deposit and withdrawal

0.8
The deposit process at ChoiceTrade is smooth, but withdrawing funds is cumbersome. Credit/debit cards are not accepted, there is a high withdrawal fee and the process is not user-friendly.
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ChoiceTrade review
Web trading platform

1.5
ChoiceTrade's web trading platform offers a clear fee report and a great variety of order types. On the other hand, the design is outdated, there is no two-step login, and the search functions are poor.
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ChoiceTrade review
Mobile trading platform

3.5
The ChoiceTrade mobile trading platform is of better quality than the web trading platform. It is user-friendly and offers a lot of order types. On the negative side, it lacks the two-step login, there are no price alerts, and the search function doesn't work well.
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ChoiceTrade review
Desktop trading platform

2.8
The ChoiceTrade Elite Trader desktop trading platform meets general expectations. It has a neat look, a clear fee report and offers a wide range of order types. However, it lacks customizability, a two-step login and price alerts.
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ChoiceTrade review
Markets and products

2.3
ChoiceTrade only offers stocks, ETFs and options traded on US and Canadian exchanges.
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ChoiceTrade review
Research

2.9
ChoiceTrade's research tools are fine. You can analyze fundamental data. On the negative side, the charting tools are poor and the research tools are not user-friendly.
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ChoiceTrade review
Customer service

3.9
ChoiceTrade's customer service is easy to reach and answers were relevant. On the other hand, there is no live chat and support is not available outside business hours.
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ChoiceTrade review
Education

3.0
ChoiceTrade's education tools are mediocre. The amount and quality of education material on the Elite platform is good, but the interface is hard to navigate, the content is not up-to-date and the production quality is poor.
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ChoiceTrade review
Safety

ChoiceTrade is regulated by the SEC and FINRA, which are top-tier US regulators. High investor protection is also a plus for clients. On the flip side, the broker doesn't hold a banking license.
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ChoiceTrade review
Bottom line

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ChoiceTrade review
FAQ

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Author of this review

Ádám Nasli

Author of this review

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo trading, programming and trading.

Ádám Nasli

Analyst Head

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo trading, programming and trading.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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