Options trading conditions at ChoiceTrade explained

Options trading is increasingly popular, but it's still something of a niche product aimed at more experienced traders, so not all brokers offer it and trading conditions can differ widely.

ChoiceTrade offers options trading, but there are better alternatives when it comes to trading fees, market access or platform quality. See the best choices or read on for detailed comparisons.

ChoiceTrade offers options but conditions are so-so

[Broker name] offers options but conditions are so-so

Adam Nasli

Trading • Safety • Market Analysis

I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.

Learn about our methodology

Adam Nasli

Trading • Safety • Market Analysis

I've tested dozens of brokers in recent years, including their options trading features. ChoiceTrade left me with mixed feelings; here's why:

• It has a below-average options trading score based on fees, products and UX.
• ChoiceTrade offers access to 5 options markets.
• Options trading fees at ChoiceTrade are low.
• Trading platform and research quality make a difference.
• Consider the best options brokers as an alternative to ChoiceTrade.

Before we begin, let's see if ChoiceTrade is available in your country

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To assess whether ChoiceTrade is a great place to trade options, we calculated a comprehensive options score that takes into account options trading fees, the potential number of options products available, and the quality of the broker's trading platform (including charting and other research tools).

ChoiceTrade's overall options score of 3.2 stars is considered below average among the brokers we cover that offer options trading. Here's how ChoiceTrade scored against some close rivals:

Need a refresher course on options trading? Here's a high-level overview of all you need to know about trading options. If you're already familiar with the basics, you can dive right into options trading strategies or the niceties of options pricing.

Still lacking options trading mileage? We suggest you start with our introduction to options trading for beginners.

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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.

In the table below, we listed options trading fees (calculated in USD terms) at ChoiceTrade and some of its competitors for trading 10 options contracts.

Please note that some brokers don't charge a separate fee for closing an options trade. In these cases, in order to represent this discount properly, we calculated with just half of the opening fee, because most other brokers charge for both the opening and closing transactions.

So what's all the fuss about fees? Aren't they just a tiny fraction of the value of a typical trade? Well, they may be, but differences in fees among brokers can still be substantial. Of the 100+ brokers we cover, the cheapest one charges $5 for trading 10 US stock index options contracts, while the most expensive one charges $35. Even if you're just a casual trader who does one or two options deals a month, the difference in trading fees can add up to hundreds of dollars a year. Just think of all the goodies you can buy with that money!

Trading fees and product selection are only part of the story when it comes to options trading.

• A great trading interface (especially on desktop) with user-friendly search and order functions, good charting capabilities and quality research material is an option trader's best friend.
• Costs don't stop at trading fees; if you trade often and want access to your trading profits, withdrawal fees can sting.

In the table below, you can check how ChoiceTrade compares to some close competitors in trading platform quality and other features.

As we have seen, ChoiceTrade is not ideal for options trading; to find a better alternative, we suggest you check out our top ten list of the best options brokers in your country.

Alternatively, if you want a broader comparison or have some specific other brokers in mind, you can use our broker comparison tool to size up options brokers along many different criteria.

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