The best alternatives to ChoiceTrade are
- tastytrade - US options and stockbroker
- SogoTrade - US-based stockbroker
- Zacks Trade - US discount broker
- TradeStation - US stockbroker
Let's see in a bit more detail how the ChoiceTrade alternatives compare to ChoiceTrade and each other:
| ChoiceTrade | tastytrade | SogoTrade | Zacks Trade | TradeStation | |
|---|---|---|---|---|---|
| Overall score | 4.1 stars | 4.7 stars | 4.2 stars | 4.4 stars | 4.7 stars |
| Fees score | 3.9 stars | 4.2 stars | 3.9 stars | 4.0 stars | 4.1 stars |
| Account opening score | 4.2 stars | 5.0 stars | 5.0 stars | 2.5 stars | 5.0 stars |
| Deposit and withdrawal score | 0.8 stars | 1.9 stars | 1.8 stars | 3.5 stars | 2.2 stars |
| Web platform score | 1.5 stars | 3.4 stars | 3.0 stars | 3.8 stars | 3.8 stars |
| Markets and products score | 2.3 stars | 3.3 stars | 2.2 stars | 3.8 stars | 3.2 stars |
| Visit broker | Visit broker | Visit broker | Visit broker |
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
- tastytrade is recommended for options and futures traders focusing on us markets
- SogoTrade is recommended for stock and options traders with a us focus who value great customer service
- Zacks Trade is recommended for traders and investors looking for comprehensive research tools, a wide product selection and low fees
- TradeStation is recommended for traders focusing on us markets and buy-and-hold investing
Important factors of finding ChoiceTrade alternatives
So far BrokerChooser has reviewed 101 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 alternatives
tastytrade
tastytrade is a young, up-and-coming US broker focusing on options trading. It is regulated by the top-tier Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Australian Securities and Investments Commission (ASIC) for Australian clients.
The people behind tastytrade are the same experts who built the thinkorswim trading platform, now operated by TD Ameritrade. tastytrade is privately owned; it was established in 2017 and is headquartered in Chicago.
Recommended for options and futures traders focusing on us markets
| Pros | Cons |
|---|---|
|
• Low trading fees
|
• Limited product selection
|
|
• Great educational materials
|
• Few deposit and withdrawal options
|
|
• Good research tools
|
• No demo account
|
Fees
tastyworks has low trading fees and there is no inactivity fee. On the other hand, you have to pay a high withdrawal fee for wire transfers and margin rates are quite high.
| Pros | Cons |
|---|---|
|
• No inactivity fee
|
• High margin rates for stock trading
|
|
• Free stock trading
|
• Withdrawal fee for bank (wire) transfers
|
|
• Low options fees
|
|
| tastytrade | ChoiceTrade | |
|---|---|---|
| Apple benchmark fee | $0.3 | $0.3 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
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
Account opening
tastyworks account opening is user-friendly, fast, fully digital, and involves no minimum deposit.
| Pros | Cons |
|---|---|
|
• Fast
|
None |
|
• Fully digital
|
|
|
• No minimum deposit
|
|
| tastytrade | ChoiceTrade | |
|---|---|---|
| Minimum deposit | $0 | $100 |
| Time to open account | 1 day | 1-3 days |
If you are interested more in tastytrade minimum deposit, this overview will help you.
Deposit and withdrawal
tastyworks's deposit and withdrawal functions are easy to use and there's no deposit fee, but you can use only bank transfer, and withdrawals can be expensive especially for non-US clients.
| Pros | Cons |
|---|---|
|
• No deposit fee
|
• Credit/Debit card not available
|
|
• User-friendly
|
• High fee for wire withdrawals
|
|
• Free ACH withdrawals in the US
|
|
| tastytrade | ChoiceTrade | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $5 |
Web trading platform
The tastyworks web platform is great for experienced traders, especially for options trading. However, it takes time to figure out how its functions work, and its customizability is limited.
| Pros | Cons |
|---|---|
|
• Clear fee report
|
• Limited customizability (for charts, workspace)
|
|
• Price alerts
|
• Not suited for beginners
|
|
• Two-step (safer) authentication for certain functions
|
|
| tastytrade | ChoiceTrade | |
|---|---|---|
| Web platform score | 3.4 stars | 1.5 stars |
| Mobile platform score | 4.2 stars | 3.5 stars |
| Desktop platform score | 3.9 stars | 2.8 stars |
Learn more about tastytrade's web trading platform in the detailed tastytrade review.
Markets and products
At tastyworks, you can trade US stocks, ETFs, options and some futures. Other popular asset classes like mutual funds or bonds are missing, as are international assets.
| tastytrade | ChoiceTrade | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | No |
| Funds | No | No |
| Bonds | No | No |
| Options | Yes | Yes |
| Futures | Yes | No |
| CFDs | No | No |
| Crypto | Yes | No |
Verdict
tastytrade is an excellent broker for options trading, but it is a bit complicated if you want to trade stocks only.
tastytrade's trading fees are low, with free stock and ETF trading fees. Its trading platform is aimed at experienced options traders and can be intimidating for beginners. However, its educational and research tools are great for learning. Deposit and withdrawal processes could be better, and a demo account would also be great for practice purposes.
As there is no minimum deposit, no inactivity fee, or monthly fee, and the account opening process is seamless, you should feel free to try it.
| tastytrade | |
|---|---|
| Summary | tastytrade (formerly tastyworks) is a US options and stockbroker. It is overseen by FINRA, a top-tier regulatory body. |
| Fees score | 4.2 stars |
| Recommended for | Options and futures traders focusing on US markets |
ChoiceTrade alternatives
SogoTrade
SogoTrade is a US stockbroker that was founded in 1986. The company is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Although it is not listed on any stock exchanges and does not have a banking background, its long track record and regulation by top-tier authorities are all good signs for SogoTrade's safety.
Clients are eligible for Securities Investor Protection Corporation (SIPC) coverage, which offers protection for up to $500,000 (up to $250,000 cash) per account.
Recommended for stock and options traders with a us focus who value great customer service
| Pros | Cons |
|---|---|
|
• Low trading fees
|
• Poor charting tools
|
|
• Quick and easy account opening
|
• US-focused product portfolio
|
|
• Great customer service
|
• $50 fee for non-US payouts
|
Fees
SogoTrade has low options fees, and transactions using ACH are free. On the other hand, margin rates and wire withdrawal fees for non-US customers are high.
| Pros | Cons |
|---|---|
|
• Low trading fees
|
• High margin rates for stock trading
|
|
• No commission if you use limit orders
|
• High fee for wire withdrawal
|
| SogoTrade | ChoiceTrade | |
|---|---|---|
| Apple benchmark fee | $6.0 | $0.3 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
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
Account opening
Opening an account at SogoTrade is fast and fully digital for both US and international citizens. There is a $25 annual fee for IRA accounts.
| Pros | Cons |
|---|---|
|
• Fast
|
• IRA accounts cost $25/year
|
|
• Fully digital
|
|
|
• No minimum deposit
|
|
| SogoTrade | ChoiceTrade | |
|---|---|---|
| Minimum deposit | $0 | $100 |
| Time to open account | 1 day | 1-3 days |
If you are interested more in SogoTrade minimum deposit, this overview will help you.
Deposit and withdrawal
If you live in the US, transactions are free via ACH. Non-US clients on the other hand are charged $50 for wire withdrawals.
| Pros | Cons |
|---|---|
|
• No deposit fee
|
• Credit/Debit card not available
|
|
• Free ACH withdrawal
|
• Slow withdrawal
|
|
|
• High fee for wire withdrawal (non-US)
|
| SogoTrade | ChoiceTrade | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $5 |
Web trading platform
SogoTrade's web trading platform is user-friendly, with a good search function and many order types. However, it's not customizable, has a clunky look, and lacks two-step authentication.
| Pros | Cons |
|---|---|
|
• User-friendly
|
• No clear fee report available
|
|
• Good search function
|
• No two-step (safer) login
|
|
• Good variety of order types
|
• Limited customizability (for charts, workspace)
|
| SogoTrade | ChoiceTrade | |
|---|---|---|
| Web platform score | 3.0 stars | 1.5 stars |
| Mobile platform score | 3.5 stars | 3.5 stars |
| Desktop platform score | 0.9 stars | 2.8 stars |
Learn more about SogoTrade's web trading platform in the detailed SogoTrade review.
Markets and products
At SogoTrade, you can trade US stocks, ETFs, options and cryptos, but the offered assets cover only US markets. Some popular asset types, like futures, are not available.
| SogoTrade | ChoiceTrade | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | No |
| Funds | No | No |
| Bonds | No | No |
| Options | Yes | Yes |
| Futures | No | No |
| CFDs | No | No |
| Crypto | Yes | No |
Verdict
SogoTrade is a great broker for US stock and options trading.
Stock and ETF trading fees are average or zero if you use limit orders. Options fees are low. Account opening is user-friendly and swift. Customer support is great, providing fast and relevant answers.
On the negative side, charting tools are extremely basic on all trading platforms. The product offering is limited, e.g. you can't trade futures or non-US markets. SogoTrade also charges high wire withdrawal fees for non-US payouts ($50).
As the account opening is seamless and trading fees are low, feel free to try SogoTrade.
| SogoTrade | |
|---|---|
| Summary | SogoTrade is a US-based stockbroker, regulated by top-tier US authorities like the SEC and FINRA. It is not listed on a stock exchange and does not have a banking background. |
| Fees score | 3.9 stars |
| Recommended for | Stock and options traders with a US focus who value great customer service |
ChoiceTrade alternatives
Zacks Trade
Zacks Trade is a US-based discount broker and a division of LBMZ Securities. LBMZ Securities was founded in 1978 and is regulated by the top-tier US financial authorities SEC and FINRA.
LBMZ Securities's clearing and execution services are provided through Interactive Brokers, a global stockbroker regulated by many top-tier financial authorities around the world.
If you're familiar with the services of Interactive Brokers, you might notice that many of Zacks Trade's services are the same. To sum up:
- Zacks Trade has its own, different fee structure, product selection, educational tools and customer support. Unlike at Interactive Brokers, trading forex, CFDs and futures is not supported.
- The account opening and deposit/withdrawal processes, trading platforms and research tools are the same as at Interactive Brokers.
Zacks Trade is considered safe because it has a long track record and is overseen by top-tier regulators.
Since Zacks is more expensive than IB, why would anyone favor Zacks over Interactive Brokers? We found two possible reasons:
- Zacks falls under SEC regulation and users have SIPC protection (which insures against the loss of assets up to $500,000 in the case of broker bankruptcy), no matter where they live
- Zacks provides free broker-assisted trading
Recommended for traders and investors looking for comprehensive research tools, a wide product selection and low fees
| Pros | Cons |
|---|---|
|
• Low fees
|
• Complex desktop platform and research tools
|
|
• Extensive stock and ETF selection
|
• Slow and complicated account opening
|
|
• Great customer service
|
• No futures and forex
|
Fees
Zacks Trade has generally low trading fees; its stock, ETF and bond trading fees are especially low. However, mutual fund fees are quite high, and there's also an inactivity fee.
| Pros | Cons |
|---|---|
|
• Low stock and ETF fees / Free stock trading
|
• High fund fees
|
|
• No withdrawal fee
|
• Inactivity fee
|
| Zacks Trade | ChoiceTrade | |
|---|---|---|
| Apple benchmark fee | $2.3 | $0.3 |
| Vodafone benchmark fee | $27.9 | - |
| EURUSD benchmark fee | - | - |
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
Account opening
Zacks Trade offers fully digital account opening for clients all over the world, and there is no minimum deposit. On the negative side, we found the process slow and hard to navigate.
| Pros | Cons |
|---|---|
|
• Fully digital
|
• Slow
|
|
• No minimum deposit
|
• Not user-friendly
|
| Zacks Trade | ChoiceTrade | |
|---|---|---|
| Minimum deposit | $0 | $100 |
| Time to open account | >3 days | 1-3 days |
If you are interested more in Zacks Trade minimum deposit, this overview will help you.
Deposit and withdrawal
Zacks Trade offers one free withdrawal per month for nearly all base currencies. However, you cannot use credit/debit cards or electronic wallets to deposit or withdraw funds.
| Pros | Cons |
|---|---|
|
• Free withdrawal
|
• Credit/Debit card not available
|
|
• No deposit fee
|
|
|
• Several account base currencies
|
|
| Zacks Trade | ChoiceTrade | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $5 |
Web trading platform
The Zacks Trade web platform is simple and easy to use, even for beginners.
| Pros | Cons |
|---|---|
|
• User-friendly
|
None |
|
• Clear fee report
|
|
|
• Two-step (safer) login
|
|
| Zacks Trade | ChoiceTrade | |
|---|---|---|
| Web platform score | 3.8 stars | 1.5 stars |
| Mobile platform score | 3.5 stars | 3.5 stars |
| Desktop platform score | 3.8 stars | 2.8 stars |
Learn more about Zacks Trade's web trading platform in the detailed Zacks Trade review.
Markets and products
Zacks Trade offers international stocks, ETFs and bonds, which is fairly unique for a US broker; along with US funds and options. However, you can't trade futures or forex.
| Zacks Trade | ChoiceTrade | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | No |
| Funds | Yes | No |
| Bonds | Yes | No |
| Options | Yes | Yes |
| Futures | No | No |
| CFDs | No | No |
| Crypto | Yes | No |
Verdict
Zacks Trade is a great US discount broker. It is a division of LBMZ Securities, which is regulated by the SEC and FINRA. It is an introducing broker of Interactive Brokers, and as such shares many of its features.
On the plus side, Zacks Trade has low fees, outstanding stock and ETF selections and great customer service.
There are some drawbacks though, as its desktop trading platform and research tools may be too complex for some. The account opening is complicated and slow. Unlike Interactive Brokers, Zacks doesn't support trading CFDs, futures or forex.
As Zacks Trade provides a demo account and there's no mandatory minimum deposit, feel free to try it.
| Zacks Trade | |
|---|---|
| Summary | Zacks Trade is a US discount broker that also allows international clients to open an account. Zacks Trade is a division of LBMZ Securities, which is regulated by SEC and FINRA. Customers are protected by the SIPC scheme, up to $500,000 (including a $250,000 limit for cash). |
| Fees score | 4.0 stars |
| Recommended for | Traders and investors looking for comprehensive research tools, a wide product selection and low fees |
ChoiceTrade alternatives
TradeStation
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; transparently 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
| Pros | Cons |
|---|---|
|
• Great web and mobile trading platform
|
• Inconvenient deposit and withdrawal
|
|
• Low trading fees
|
• No forex trading
|
|
• High-quality research and education tools
|
• Mediocre customer service
|
Fees
TradeStation has low trading fees, and you can choose from multiple fee structures. On the negative side, there's an inactivity fee and only ACH is free for withdrawals.
| Pros | Cons |
|---|---|
|
• Low trading fees
|
• Inactivity fee
|
|
• Low stock and ETF fees / Free stock trading
|
• WIthdrawal fee for bank wire transfers
|
|
• Free ACH withdrawals
|
|
| TradeStation | ChoiceTrade | |
|---|---|---|
| Apple benchmark fee | $0.3 | $0.3 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
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
Account opening
TradeStation account opening is fully digital, user-friendly and fast. There are many account types, but USD is the only available base currency (except for futures accounts).
| Pros | Cons |
|---|---|
|
• Fast
|
None |
|
• Fully digital
|
|
|
• User-friendly
|
|
| TradeStation | ChoiceTrade | |
|---|---|---|
| Minimum deposit | $0 | $100 |
| Time to open account | 1 day | 1-3 days |
If you are interested more in TradeStation minimum deposit, this overview will help you.
Deposit and withdrawal
TradeStation's deposit and withdrawal functions are somewhat limited, as you can use only bank transfer; while the fee for wire transfer withdrawals is high.
| Pros | Cons |
|---|---|
|
• No deposit fee
|
• Credit/Debit card not available
|
|
• Deposit/withdrawal in cryptocurrencies
|
• High fee for wire withdrawal
|
|
• ACH withdrawal is free
|
|
| TradeStation | ChoiceTrade | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $5 |
Web trading platform
TradeStation has a nice-looking, user-friendly web trading platform with a safe login process.
| Pros | Cons |
|---|---|
|
• Clear fee report
|
None |
|
• Two-step (safer) login
|
|
|
• Good search function
|
|
| TradeStation | ChoiceTrade | |
|---|---|---|
| Web platform score | 3.8 stars | 1.5 stars |
| Mobile platform score | 4.8 stars | 3.5 stars |
| Desktop platform score | 2.3 stars | 2.8 stars |
Learn more about TradeStation's web trading platform in the detailed TradeStation review.
Markets and products
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.
| TradeStation | ChoiceTrade | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | No |
| Funds | Yes | No |
| Bonds | Yes | No |
| Options | Yes | Yes |
| Futures | Yes | No |
| CFDs | No | No |
| Crypto | Yes | No |
Verdict
TradeStation is a great US broker.
The web and mobile platforms are very user-friendly, with many great functions. TradeStation also charges low stock and ETF trading fees. On top of that, its education materials are well-structured and high quality.
On the other hand, deposit and withdrawal functions are not that convenient, as you can only use bank transfers. Among other negatives, there is no forex trading, and customer service has room for improvement.
As there is no minimum deposit, feel free to try TradeStation if you prefer trading on US markets.
| TradeStation | |
|---|---|
| Summary | TradeStation is a US stockbroker regulated by FINRA, a top-tier US regulatory body. |
| Fees score | 4.1 stars |
| Recommended for | Traders focusing on US markets and buy-and-hold investing |
ChoiceTrade alternatives
ChoiceTrade
ChoiceTrade is a US-based stockbroker founded in 2000. The broker is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) and it is also a member of SIPC. SIPC membership ensures that clients are eligible for the SIPC investor protection scheme, which protects assets 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 its annual financial statements.
Recommended for stock and options traders looking for low trading fees and focusing on the us market
| 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
|
Fees
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.
| Pros | Cons |
|---|---|
|
• Low trading fees
|
• Withdrawal fee
|
|
• Commission-free stock trading
|
• Inactivity fee
|
| ChoiceTrade | tastytrade | SogoTrade | Zacks Trade | TradeStation | |
|---|---|---|---|---|---|
| US stock | $0.0 | $0.0 | $2.9 | $1.0 | $0.0 |
| UK stock | - | - | - | $13.6 | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k
Account opening
Opening an account at ChoiceTrade is easy, fast and fully digital for both US and international clients.
| Pros | Cons |
|---|---|
|
• Fully digital
|
None |
|
• Low minimum deposit
|
|
|
• User-friendly
|
|
| ChoiceTrade | tastytrade | SogoTrade | Zacks Trade | TradeStation | |
|---|---|---|---|---|---|
| Minimum deposit | $100 | $0 | $0 | $0 | $0 |
| Time to open account | 1-3 days | 1 day | 1 day | >3 days | 1 day |
Learn more about ChoiceTrade minimum deposit here.
Deposit and withdrawal
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.
| Pros | Cons |
|---|---|
|
• No deposit fee
|
• Credit/Debit card not available
|
|
|
• High withdrawal fee
|
|
|
• Withdrawal is excessively complicated
|
| ChoiceTrade | tastytrade | SogoTrade | Zacks Trade | TradeStation | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $5 | $0 | $0 | $0 | $0 |
Web trading platform
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.
| Pros | Cons |
|---|---|
|
• Clear fee report
|
• No two-step (safer) login
|
|
• Good variety of order types
|
• Poor search function
|
|
• Order confirmation
|
• Design is very outdated
|
| ChoiceTrade | tastytrade | SogoTrade | Zacks Trade | TradeStation | |
|---|---|---|---|---|---|
| Web platform score | 1.5 stars | 3.4 stars | 3.0 stars | 3.8 stars | 3.8 stars |
| Mobile platform score | 3.5 stars | 4.2 stars | 3.5 stars | 3.5 stars | 4.8 stars |
| Desktop platform score | 2.8 stars | 3.9 stars | 0.9 stars | 3.8 stars | 2.3 stars |
Learn more about ChoiceTrade's web trading platform in the detailed ChoiceTrade review.
Markets and products
ChoiceTrade only offers stocks, ETFs and options traded on US and Canadian exchanges.
| ChoiceTrade | tastytrade | SogoTrade | Zacks Trade | TradeStation | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | Yes |
| ETFs | Yes | Yes | Yes | Yes | Yes |
| Forex | No | No | No | No | No |
| Funds | No | No | No | Yes | Yes |
| Bonds | No | No | No | Yes | Yes |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | No | Yes | No | No | Yes |
| CFDs | No | No | No | No | No |
| Crypto | No | Yes | Yes | Yes | Yes |
Verdict
US and international clients can trade listed stocks and ETFs with no commission at ChoiceTrade. The account opening is easy, fully digital and takes 1-2 days. The broker also offers a great and user-friendly mobile trading platform.
On the negative side, the inactivity fee and withdrawal fees for bank transfers are high. The withdrawal process is not user-friendly and only bank transfer is available. The product portfolio is limited, you can only trade stocks, ETFs, and options.
Given that the account opening is seamless and you can trade stocks and ETFs with zero commission, feel free to try it.
| ChoiceTrade | |
|---|---|
| Summary | ChoiceTrade is a US stockbroker, regulated by top-tier US authorities the SEC and FINRA. It is not listed on a stock exchange and does not have a banking backgorund. |
| Fees score | 3.9 stars |
| Recommended for | Stock and options traders looking for low trading fees and focusing on the US market |
ChoiceTrade alternatives
Bottom line
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.
| Broker | Info | Recommended for |
|---|---|---|
| ChoiceTrade | US-based stockbroker | Stock and options traders looking for low trading fees and focusing on the US market |
| tastytrade | US options and stockbroker | Options and futures traders focusing on US markets |
| SogoTrade | US-based stockbroker | Stock and options traders with a US focus who value great customer service |
| Zacks Trade | US discount broker | Traders and investors looking for comprehensive research tools, a wide product selection and low fees |
| TradeStation | US stockbroker | Traders focusing on US markets and buy-and-hold investing |
Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.
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