Overview of ChoiceTrade fees and charges
It's safe to say that ChoiceTrade's fees are low in general. They either don't charge a brokerage fee for things other brokers do charge for, or they only charge a small amount. This means that you can use ChoiceTrade even in case you trade frequently like multiple times a week or daily.
Here's a high level overview of ChoiceTrade's fees
|Assets||Fee level||Fee terms|
|US stock fee||Low||Stocks above $1 have no commission, US stocks below $1 cost $12 per trade, foreign stocks cost $25 per trade.|
|EURUSD fee||-||Not available|
|US tech fund fee||-||Not available|
|Inactivity fee||High||$40 per quarter for individual accounts if you made less than 5 trades in the previous quarter. $50 for corporate accounts if you made less than 5 trades in the previous quarter|
ChoiceTrade fees explained
We compare ChoiceTrade fees with its closest competitors, tastyworks and SogoTrade.
ChoiceTrade trading fees
ChoiceTrade's trading fees are low which makes it suitable for you even if you trade often (i.e. multiple times a week).
Let's break down the trading fees into the different asset classes available at ChoiceTrade.
ChoiceTrade's trading fees are low.
Stock fees and ETF fees
ChoiceTrade has low stock trading fees.
ChoiceTrade's options fees are high.
|US stock index options||$20.0||$7.5||$5.0|
|UK stock index options||-||-||-|
|German stock index options||-||-||-|
ChoiceTrade financing rates are .
If you want to trade on margin and prefer to hold your positions long, financing costs can be significant.
|Apple CFD financing rate||-||-||-|
|Vodafone CFD financing rate||-||-||-|
|EURUSD financing rate||-||-||-|
|EURGBP financing rate||-||-||-|
Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange/CFDs with any level of leverage may not be suitable for all investors.
ChoiceTrade non-trading fees
When it comes to looking at all the non-trading fees ChoiceTrade is an expensive broker. This means that they tend to charge you a lot for non-trading related activities on your trading account, like withdrawal fee.
Non-trading fees include various brokerage fees and charges at ChoiceTrade that you pay not related to buying and selling assets. Among some others, typical non trading fees are withdrawal fee, deposit fee, inactivity fee and account fee.
ChoiceTrade deposit fee
Deposit fees are applied when you send money to your trading account from your bank account. Usually brokers don't charge money for that and ChoiceTrade is not different: you will see the exact same amount on your brokerage account that you sent by any of the deposit methods ChoiceTrade offers.
ChoiceTrade withdrawal fee
Unfortunately, quite like the majority of the online brokers we have reviewed ChoiceTrade does charge a withdrawal fee of $5 for the bank transfer. This means that you need to pay this amount of money when you transfer your money back to your bank account. It's up to you to decide whether this is a high amount or not as it's dependent mostly on the size of the transferred amount.
|Withdrawal fee with bank transfer||$5||$0||$0|
ChoiceTrade inactivity fee
ChoiceTrade does apply an inactivity fee and it is $40 per quarter for individual accounts if you made less than 5 trades in the previous quarter. $50 for corporate accounts if you made less than 5 trades in the previous quarter. This means that you need to be strategic about your trading activity to avoid getting charged after a longer time of no trade. The fact that ChoiceTrade charges an inactivity fee makes it less ideal for you if you are a buy and hold investor.
ChoiceTrade has high inactivity fee.
|Inactivity fee||$40 per quarter for individual accounts if you made less than 5 trades in the previous quarter. $50 for corporate accounts if you made less than 5 trades in the previous quarter||No inactivity fee||No inactivity fee|
Read more about ChoiceTrade inactivity fee on their own site.