A detailed guide to all relevant fees for stock trading at ChoiceTrade
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It's great that you are interested in stock trading at ChoiceTrade. When looking for a stockbroker, one of the most important aspects are fees. However, sometimes it can be a daunting task to pay attention to all the relevant fees and it can be frustrating to pay for some fees you didn't even know existed. Don't worry, we are here to help you with that.
We at BrokerChooser test brokers' services with a live account and real money, so our knowledge is based on our first-hand experience.
In this article, we are going to walk you through all the fees that are relevant for stock trading at ChoiceTrade.
THE ESSENCE:
- Fees are extremely important when choosing a broker for stock trading
- ChoiceTrade's stock and ETF trading fees are low
- Pay attention to less obvious fees like conversion fees
- Visit ChoiceTrade's site if you need more information about fees
- ChoiceTrade is a reliable broker regulated by at least one top-tier regulator
First, let's see if ChoiceTrade is available in your country
ChoiceTrade stock trading relevant fees
What are stock/ETF trading fees at ChoiceTrade?
Stock and ETF trading fees are charged for buying and selling stocks and ETFs through a brokerage platform. At ChoiceTrade, stock and ETF trading fees are low.
The following table shows the trading fees of a few popular stocks at ChoiceTrade. In these examples, a trade would mean buying a $2,000 position, holding it for one week, then selling it.
| Asset | Fee |
|---|---|
| Apple benchmark fee | $0.3 |
| Vodafone benchmark fee | - |
ChoiceTrade stock trading relevant fees
What is the deposit fee at ChoiceTrade?
At ChoiceTrade, there is no deposit fee. This means that no money will be deducted from your deposits. Be aware, though, that your deposits may be subject to conversion fees. We will cover this later in the article.
ChoiceTrade stock trading relevant fees
What is the withdrawal fee at ChoiceTrade?
At ChoiceTrade, the withdrawal fee is $5. This means that $5 will be deducted each time you withdraw money from your account. Also pay attention to conversion fees whenever you withdraw money from your broker account.
ChoiceTrade stock trading relevant fees
What are conversion fees at ChoiceTrade?
Conversion fees apply when you deposit money to your account in a currency other than your account base currency, or when you buy an asset denominated in a currency other than your account base currency. You can find out more about conversion fees on ChoiceTrade's website.
ChoiceTrade stock trading relevant fees
Is there a custody fee at ChoiceTrade?
Custody fees at brokerages are charged for holding positions in certain types of assets, usually stocks, ETFs or bonds.
At ChoiceTrade, there is no custody fee. This means that you will not be charged for simply holding positions.
ChoiceTrade stock trading relevant fees
Does ChoiceTrade have an account fee?
The account fee is usually a flat fee, charged in order to cover the costs of maintaining and administering an account. It is typically charged on a regular basis, usually monthly or quarterly.
At ChoiceTrade there is an account fee of $10 per month for non-US accounts.
ChoiceTrade stock trading relevant fees
Does ChoiceTrade have an inactivity fee?
The inactivity fee is a flat fee that is charged if the account hasn't seen any trading or other activity for a certain period of time. It is typically charged on a regular basis, usually monthly or quarterly.
At ChoiceTrade, there is an inactivity fee with the following conditions: $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 stock trading relevant fees
Wrap-up
Making sense of brokerage fees can be frustrating, so we hope that you found this guide useful. Keeping all of these fee types in mind should help you pick the right broker and make trading decisions more confidently.
We believe you are on the right track now, but if you still have any questions or suggestions, drop us an email at [email protected] and we will get back to you soon.
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