Overview of ChoiceTrade fees and charges
When trading or investing at an online broker, fees can have a big impact on your results, so it's good to know what kind of charges you'll be facing and how these compare to fees at other brokers.
If fees are your top concern, ChoiceTrade is a good choice, as it has low fees in general. Check our toplist for cheaper brokers.
I've personally tested dozens of global brokers, carefully looking at their fees not just on their website but also in the course of live trading. Here's how ChoiceTrade fared:
- ChoiceTrade charges low fees for trading stocks and ETFs.
- There is an inactivity fee if you don't trade for an extended period of time.
- The basic withdrawal fee is $5, but some transactions may cost more.
- Read our full review of ChoiceTrade for info on safety, trading platforms and funding.
| 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 | - | FX not available |
| US tech fund fee | - | Not available |
| Inactivity fee | High | $45 per quarter for individual accounts if you made less than 5 trades in the previous quarter. $55 per month for corporate accounts if you made less than 5 trades in the previous month. |
There's a comprehensive list of rates and fees featured on the broker's website, but the structure is not easy to understand at first glance.
Commission-free stock and ETF trading
If you trade stocks and ETFs listed on the 5 exchanges made available by the broker, the commission is zero, except for penny stocks.
The broker charges $12 per trade for over-the-counter (OTC) stocks and ETFs, and requires a $100 minimum cash balance at all times for OTC stocks.
Stock trades executed on the tZERO alternative trading system (ATS) carry a commission of 2% of the principal value of the trade, subject to a $25 minimum fee per trade. Also, if you trade premarket and aftermarket, there'll be a $0.005 fee per share.
|
US stock
|
$0.0
|
$0.0
|
$2.9
|
|---|
High margin rates
|
USD margin rate
|
11.5%
|
11.0%
|
13.8%
|
|---|
Low options commission
There is no commission for options per trading transaction, but there is a $0.4 per contract fee. However, there is a maximum of $20 per trade fee cap, so if you trade higher volumes in one trade the fee becomes more favorable.
|
US stock index options
|
$10.0
|
$5.0
|
$5.0
|
|---|
High inactivity fee, high withdrawal fee
While there is no fee for making deposits, the inactivity fee and the withdrawal fees are rather steep. The broker also charges a one-time fee for setting up non-US individual and corporate accounts. There is a monthly $10 fee for non-US account maintenance.
| Broker | Inactivity fee | Withdrawal fee |
|---|---|---|
| ChoiceTrade | $5 | |
| tastytrade | $0 | |
| SogoTrade | $0 |
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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.
