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

ChoiceTrade Fees snapshot
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
ChoiceTrade fees explained

We compare ChoiceTrade fees with its closest competitors, tastyworks and SogoTrade.

ChoiceTrade fees
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.

Trading fees

ChoiceTrade's trading fees are low.

Stock fees and ETF fees

ChoiceTrade has low stock trading fees.

Stock fees of a $2,000 trade
ChoiceTrade tastyworks SogoTrade
US stock $0.0 $0.0 $2.9
UK stock - - -
German stock - - -

Options fees

ChoiceTrade's options fees are high.

Stock index options fees of 10 contracts
ChoiceTrade tastyworks SogoTrade
US stock index options $20.0 $7.5 $5.0
UK stock index options - - -
German stock index options - - -

Financing rates

ChoiceTrade financing rates are .

If you want to trade on margin and prefer to hold your positions long, financing costs can be significant.

ChoiceTrade yearly financing rates
ChoiceTrade tastyworks SogoTrade
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 fees
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.

A high level overview of how ChoiceTrade stacks up in non-trading fees
ChoiceTrade tastyworks SogoTrade
Withdrawal fee $5 $0 $0
Deposit fee $0 $0 $0
Inactivity fee Yes No No
Account fee Yes No No

ChoiceTrade fees
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 deposit methods
ChoiceTrade tastyworks SogoTrade
Bank transfer Yes Yes Yes
Credit/debit card No No No
Electronic wallets No No No
Deposit fee $0 $0 $0

ChoiceTrade fees
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.

ChoiceTrade withdrawal fees and options compared
ChoiceTrade tastyworks SogoTrade
Bank transfer Yes Yes Yes
Credit/debit card No No No
Electronic wallets No No No
Withdrawal fee with bank transfer $5 $0 $0

ChoiceTrade fees
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.

ChoiceTrade tastyworks SogoTrade
Inactivity fee Yes No No
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.

Author of this article

Ádám Nasli

Author of this article

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo-trading, programming and trading.

Ádám Nasli

Analyst head

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo-trading, programming and trading.

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

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