ChoiceTrade app
As more and more traders and investors use their smartphones as their primary trading platform, it is increasingly important that brokers come up with easy to use apps that can match the functionality of the desktop platforms.
In this article we'll check whether ChoiceTrade's mobile app ticks all the boxes.
Overall, we rate the user friendliness of the app as better than average.
| ChoiceTrade | TradeStation | Interactive Brokers | |
|---|---|---|---|
| Mobil app rating (5 is the best) | 3.5 stars | 4.8 stars | 3.5 stars |
| Is the app easy to use? | Great | Great | Mid-range |
| 2-step authentication possible? | No | Yes | Yes |
| Biometric authentication possible? | No | Yes | Yes |
We're going to look at order types, price alerts, search functions, so all the little details that make a trading app user-friendly or downright cumbersome. Should you prefer to read our full review that include fees, deposit options, and other platforms (like web and desktop) then skip to ChoiceTrade's full review.
ChoiceTrade app
Our major checklist for the ChoiceTrade app
Let's start with the search functions. While this might be up to personal taste, we use a 3-star rating here. While most brokers do OK here, there are some bad apples out there. For example if you start typing 'Emerging markets', will the software find all the Emerging markets ETFs for you, even if their name doesn't start with the word Emerging? If you only ever traded US stocks, and start typing Apple, will the AI show you the Apple stock or the obscure Irish stock Applegreen?
| ChoiceTrade | TradeStation | Interactive Brokers | |
|---|---|---|---|
| Search functions are OK? | Poor | Mid-range | Great |
| Price alerts in the app | No | Yes | Yes |
| 2-step authentication possible? | No | Yes | Yes |
| Biometric authentication possible? | No | Yes | Yes |
| Confirmation after successful trade | Yes | Yes | Yes |
We hear horror stories of accounts being emptied almost every month and the easiest thing you can do to prevent these attacks is to make your account secure by 2 -step authentication. That is, if your broker has the functionality. We think it is a must. As ChoiceTradedoesn't have this functionality you might want to consider having a look at the best trading platforms.
And yes, you can use a third-party app to set up alerts when a certain price level is reached, but isn't it much easier when it's done right in the app?
We didn't like that you can't use biometric authentication to log into the app. Most brokers have this function (e.g. via fingerprints or FaceID) so you don't have to type your password if you don't want to.
ChoiceTrade app
Checklist for nice to have features
It might be a deal-breaker for some if you can't set up a trailing stop limit and we totally get it. On the other hand, some people couldn't care less about that and also don't get excited if the app is available in 25 languages. Anyway, here is our minor checklist:
ChoiceTrade has these order types available in their app: Market, Limit, Stop, Stop Limit, Trailing Stop, Market on Close, Limit on Close, Market on Open, Limit on Open.
At ChoiceTrade you can use the following order temrs & expiry in the app: Good 'til canceled (GTC), Good 'til end of the day (GTD), Immediate or Cancel (IOC), Fill or Kill (FOK), Day+EXT, All or Nothing (AON).
The languages the mobile app of ChoiceTrade currently supports are as follows: English.
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ChoiceTrade app
The BC award winner brokers
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If you're not in the US or the EU you'll find this award the most interesting.
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