ChoiceTrade Alternatives

The best alternatives to ChoiceTrade are

1. TradeStation - US stockbroker
2. Interactive Brokers - US discount broker
3. SogoTrade - US-based stockbroker
4. E*TRADE - US stockbroker

Let's see in a bit more detail how the ChoiceTrade alternatives compare to ChoiceTrade and each other:

Why are these brokers considered good alternatives to ChoiceTrade? There are many areas based on which ChoiceTrade can be compared with others. When we say a given online broker is a good alternative to ChoiceTrade we mean these brokers are comparable in the following areas:

• The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
• The type of clients they target, i.e. beginners, experienced investors, or day traders.

ChoiceTrade alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

• ChoiceTrade is recommended for stock and options traders looking for low trading fees and focusing on the us market
• TradeStation is recommended for traders focusing on us markets and buy-and-hold investing
• Interactive Brokers is recommended for traders looking for low fees and a professional trading environment
• SogoTrade is recommended for stock and options traders with a us focus who value great customer service
• E*TRADE is recommended for investors and traders looking for solid research and a great mobile trading platform

Important factors of finding ChoiceTrade alternatives

So far BrokerChooser has reviewed 71 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

• open a live account
• check over 100 criteria, with weighting based on readers' preferences
• refresh data regularly

Whether ChoiceTrade or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. ChoiceTrade is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost ChoiceTrade alternative.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you cannot make a deposit with your credit card at ChoiceTrade, some alternatives might allow you to do that.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given ChoiceTrade alternative is a must.

Now let's dive into the details of how ChoiceTrade and its alternatives perform in the most important areas!

ChoiceTrade is a US-based stockbroker founded in 2000. It is regulated by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA). It is also a member of SIPC. SIPC membership means that clients are eligible for the SIPC investor protection scheme which offers up to $500,000 (cash up to $250,000) per account.

ChoiceTrade is considered safe because it has a long track record, it is regulated by top-tier regulators, and it discloses annual financial statements. 

Recommended for stock and options traders looking for low trading fees and focusing on the us market

Visit broker

Fees

4.1

ChoiceTrade has low trading fees and you can trade stocks and ETFs with no commission. On the flip side, the non-trading fees are high.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k

Visit broker More

Account opening

4.9

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

Learn more about ChoiceTrade minimum deposit here.

Visit broker More

Deposit and withdrawal

0.8

ChoiceTrade deposit is ok, but withdrawal is very inconvenient. The credit/debit cards are not accepted, there is a high withdrawal fee and the withdrawal process is not user-friendly.

Visit broker More

Web trading platform

1.5

ChoiceTrade 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.

Learn more about ChoiceTrade's web trading platform in the detailed ChoiceTrade review.

Visit broker

Markets and products

2.1

At ChoiceTrade you can trade only with stocks, ETFs, and options available on US exchanges.

Visit broker More

Verdict

ChoiceTrade offers commission-free stock trading. The account opening is easy, fully digital, and takes 1-2 days. It also offers a great and user-friendly mobile trading platform.

On the negative side, ChoiceTrade charges a high inactivity fee and withdrawal fee for bank transfers. The withdrawal is not user-friendly and you can use only bank transfer. The product offer is limited, you can trade only with stocks, ETF, and options.

As ChoiceTrade account opening is seamless and you can trade stocks and ETFs with zero commission, feel free to try it.

Visit broker More

TradeStation is a US stockbroker founded in 1982. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Clients are eligible for up to $500,000 investor protection per account (including cash up to $250,000).

TradeStation is considered safe because it has a long track record; discloses its financials; and its parent company, the Monex Group, is listed on the Tokyo Stock Exchange.

Recommended for traders focusing on us markets and buy-and-hold investing

Visit broker

Fees

4.3

TradeStation has low trading fees, and you can choose from multiple fee structures. On the negative side, withdrawals are costly and non-trading fees can be high.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

Visit broker More

Account opening

5.0

TradeStation account opening is fully digital, user-friendly and fast. On the other hand, USD is the only available base currency (except for futures accounts).

If you are interested more in TradeStation minimum deposit, this overview will help you.

Visit broker More

Deposit and withdrawal

1.8

TradeStation's deposit and withdrawal functions are somewhat limited, as you can use only bank transfer; and the fee for wire transfer withdrawals is high.

Visit broker More

Web trading platform

4.5

TradeStation has a nice-looking, user-friendly web trading platform with a safe login process, but it lacks price alerts.

Learn more about TradeStation's web trading platform in the detailed TradeStation review.

Visit broker

Markets and products

2.7

TradeStation grants access to a wide variety of US products, but its non-US market coverage is poor. Also, forex and CFDs are not available.

Visit broker More

Verdict

TradeStation is a great US broker.

The web and mobile platforms are very user-friendly with many functions. It also offers low stock and ETF trading fees. On top of that, TradeStation's education materials are well-structured and high quality.

On the other hand, the deposit and withdrawal functions are not user-friendly as you can only use bank transfer. There is no forex trading, and customer service has room for improvement.

Feel free to try TradeStation if you prefer trading on US markets. We recommend it for buy and hold investors with at least some experience.

Visit broker More

Interactive Brokers was founded in 1978 and is one of the biggest US-based discount brokers. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).

As it has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. Having a long track record and publicly disclosed financials while being listed on a stock exchange are also great signs for its safety.

Recommended for traders looking for low fees and a professional trading environment

Visit broker

Fees

4.3

Interactive Brokers has low trading fees; while for US clients, stock and ETF trading is free. On the negative side, there is a high inactivity fee for non-US clients.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

Visit broker More

Account opening

3.4

IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated, and account verification takes relatively long.

If you are interested more in Interactive Brokers minimum deposit, this overview will help you.

Visit broker More

Deposit and withdrawal

2.5

Interactive Brokers offers many account base currency options and one free withdrawal per month. The main drawbacks are that you can only use bank transfer, and the process is not user-friendly.

Visit broker More

Web trading platform

4.3

Interactive Brokers's web platform is simple and easy to use, even for beginners. On the negative side, it is not customizable.

Learn more about Interactive Brokers's web trading platform in the detailed Interactive Brokers review.

Visit broker

Markets and products

5.0

Through Interactive Brokers you can access an extremely wide range of markets and all product types are available.

Visit broker More

Verdict

Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker for advanced traders.

On the plus side, IB has low fees, a vast range of markets and products available with diverse research tools. 

There are some drawbacks though: there is a high inactivity fee and the account opening process is complicated. The desktop platform is complex and hard to get a handle on, especially for beginners.

If you have experience navigating complex platforms and enjoy transparent, low-cost trading, Interactive Brokers could be a great fit for you.

Visit broker More

SogoTrade is a US stockbroker, which was founded in 1986. The company is regulated by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA).

Although it is not listed on any stock exchanges and does not have a banking background, SogoTrade is considered safe because it has a long track record and it is regulated by top-tier regulators. Clients are eligible for the SIPC investor protection scheme which offers up to $500,000 (cash up to $250,000) per account.

Recommended for stock and options traders with a us focus who value great customer service

Visit broker

Fees

3.5

SogoTrade has low stock and ETF fees. The inactivity fee is also low, charged only after a year and if your account balance is under $100. On the other hand, the margin rates are high and the fees for wire withdrawals are high.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

Visit broker More

Account opening

5.0

Opening an account at SogoTrade is fast and fully digital for both US and international citizens, but it sorely lacks user-friendliness.

If you are interested more in SogoTrade minimum deposit, this overview will help you.

Visit broker More

Deposit and withdrawal

1.8

You can transfer money only by bank transfer and non-US clients are charged $50, while US clients are charged $25 for wire withdrawals. As a plus, the deposit and the ACH withdrawals are free.

Visit broker More

Web trading platform

3.0

SogoTrade's web trading platform is user-friendly, has a good search function, and offers a variety of order types. However, it's not customizable, it doesn't look particularly nice, and doesn't have two-step authentication.

Learn more about SogoTrade's web trading platform in the detailed SogoTrade review.

Visit broker

Markets and products

1.7

At SogoTrade, you can trade with US stocks, ETFs, options, and cryptos. However, the offered assets cover only the US market and popular asset classes, such as bonds or mutual funds, are not provided.

Visit broker More

Verdict

SogoTrade is a great broker for US stock and options trading.

The stock and ETF fees are low. You can use a wide range of research tools, including a wide range of analytical tools. Lastly, it also has great customer support which gives fast and relevant answers.

On the negative side, SogoTrade charges $50 per year inactivity fee and high wire withdrawal fees, $50 for non-US clients and $25 for US clients. The product offer is limited, you can trade only with stock, ETF, and options. The desktop trading platform can be improved as it is not user-friendly-structured and misses essential tools, like price alerts.

As the account opening is seamless, and the trading fees are low, feel free to try it.

Visit broker More

E*TRADE is a US-based stockbroker founded in 1982. It is regulated by top-tier financial authorities like the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

E*TRADE is considered safe because it has a long track record, is listed on a stock exchange, has a banking background, discloses its financials, and is overseen by top-tier US regulators.

In February 2020, E*TRADE was acquired by Morgan Stanley. To find out more about the motives behind the acquisition and about the wider market context, check out this article we wrote about the deal.

Recommended for investors and traders looking for solid research and a great mobile trading platform

Visit broker

Fees

4.4

E*TRADE offers free trading of stocks, ETFs, and some bonds and mutual funds. Non-trading fees are also low. On the negative side, fees for mutual funds that aren't free are high.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

Visit broker More

Account opening

4.4

Account opening at E*TRADE (only available for US clients) is fully digital and user-friendly, but the account verification process is slow.

If you are interested more in E*TRADE minimum deposit, this overview will help you.

Visit broker More

Deposit and withdrawal

2.2

E*TRADE charges no deposit fees, and transferring money is easy. On the flip side, you can only use bank transfer, and a high fee is charged for wire transfer withdrawals.

Visit broker More

Web trading platform

4.0

E*TRADE has a great, user-friendly web trading platform, offering a clear fee report among others. On the negative side, it cannot be customized, and doesn't provide two-step login.

Learn more about E*TRADE's web trading platform in the detailed E*TRADE review.

Visit broker

Markets and products

3.0

You can trade plenty of asset classes at E*TRADE from stocks to futures, but only on the US market; in addition, forex trading is not available.

Visit broker More

Verdict

E*TRADE is one of the biggest US stockbrokers, and is regulated by top-tier authorities.

At the end of 2019, riding the commission-free trading trend in the US, E*TRADE introduced zero commission on stock and ETF trades. E*TRADE's research functions are high quality and channel a lot of tools, including trading ideas and strategy builders. We liked the easy handling and the customizable features of the mobile trading platform.

E*TRADE has some drawbacks though. It doesn't accept credit/debit cards and electronic wallets for money transfers, and its product portfolio covers only US markets. In addition, customer support is slow.

As trading fees are generally low, research tools are great and no inactivity fee is charged, you should feel free to try E*TRADE.

Visit broker More

Based on our analysis, there are several good alternatives to ChoiceTrade. They all offer similar products and target similar customers. Here's a recap of the results in a table.

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.