Home Brokers Reviews Is ChoiceTrade a Good Option for Trading in 2020?

    Is ChoiceTrade a Good Option for Trading in 2020?

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    ChoiceTrade is a USA-owned and managed brokerage firm. It has been operating as one of the most reliable brokerage firms since 2000 and is regulated by the SEC (Securities and Exchange Commission) and FINRA (Financial Industry Regulatory Authority). This firm has a SIPC membership, meaning that its clients qualify for the SIPC investor protection plan. This plan can provide up to $500,000 ($250,000 in cash) in protection for each account.

    We can say that ChoiceTrade is a safe broker since it has been in operation for over two decades. Their transparent yearly financial policy is well regarded and boosts confidence. Beyond that, ChoiceTrade is verified by top-tier regulators, which further adds to its "trust factor."

    What Are The Advantages And Disadvantages of ChoiceTrade? 

    ChoiceTrade is a dependable trading platform, which you can use on desktop and mobile devices. It comes with commission-free stock and ETF trading, and accounts can be opened digitally. (Being "all-digital" is not a standard feature among US brokers.)

    When it comes to withdrawal costs, ChoiceTrade has distinct pricing based on the country of your residence. This location-based pricing means that non-US residents have to pay a $60 withdrawal fee, while US residents will only have a $35 fee. In addition, ChoiceTrade charges an inactivity fee of $35 per quarter.

    One notable disadvantage of ChoiceTrade is the withdrawal process. It is unnecessarily complicated and requires that you reach out to their customer support to request a withdrawal. Beyond that, you are only allowed to complete a withdrawal with a bank transfer. 

    ChoiceTrade Advantages

    ChoiceTrade Disadvantages

    No commission for stock and ETF trading

    High fee for inactive accounts

    User-friendly and rapid account opening

    Difficult withdrawal process

    User-friendly trading platform, including the mobile application

    Limited product portfolio

    ChoiceTrade Features and Highlights

    Country Of Regulation

    ChoiceTrade Disadvantages

    Trading Fee Costs

    High fee for inactive accounts

    Inactivity Fee

    Difficult withdrawal process

    Withdrawal Fee

    Limited product portfolio

    Minimum Deposit

    $100

    Account Opening Time

    1-3 days

    Credit Card Deposit

    No

    Debit Card Deposit

    No

    Electronic Wallet Deposit

    No

    Supported Base Currencies

    1

    Demo Account

    Yes

    Offered Products

    ETF, Stock, Options

    Fees

    ChoiceTrade Advantages

    ChoiceTrade Disadvantages

    Low trading fees

    Inactivity fee

    Low stock and ETF fees

    High non-trading fees

    Commission-free stock trading

    High non-trading fees

    Fee Quick View

    Assets

    Level

    Terms

    US Stock

    Low

    $1+ Stocks = $0 Commission $7 Commission on special stocks

    EUR/USD


    Not Available

    Mutual Fund

    -

    Not Available

    Inactivity Fee

    High

    $35 per quarter

    Based on our experience with other brokers, we ranked ChoiceTrade's trading fees as low, but their non-trading fees as high. By way of explanation:

    • Trading fees happen when someone trades, and these can take the form of commissions, spreads, financing rates, or conversion fees.
    • Non-trading fees refer to costs not directly linked to what you're trading. Some examples include withdrawal and inactivity fees.

    Up next, we'll walk through the standard fees that ChoiceTrade charges by asset class. As an example, consider stock investing. For this, commissions comprise the most significant expense you have to cover. Keep in mind that we used our knowledge to analyze both ChoiceTrade's fees and those of its direct competitors: TradeStation and Interactive Brokers. We wrote this review objectively, based on the products available with these brokers, client profile, fee pricing, and several other features. 

    The Trading Fees AT ChoiceTrade 

    ChoiceTrade is a broker with some of the lowest trading fees. The fee structure is straightforward and simple to understand.  Direct stock and ETF fees through ChoiceTrade are low. These low fees mean that if you aim to trade with NYSE, Nasdaq or Amex stocks and ETFs, you will have zero commission. Keep in mind that this doesn't apply for penny stocks. So, trading with not listed stocks and ETFs will get you a $7 commission for each trade.

    ChoiceTrade ETF and Stock Commission Rates

    Asset

    ChoiceTrade

    Interactive Brokers

    TradeStation

    US Stock

    $0.0

    $1.0

    $1.0

    What Are The Stock And ETF Fees? 

    ChoiceTrade gives you access to financing or margin. Simply put, margin is when you borrow money from your broker so that you can trade. The money they lend you comes with interest, known as the financing rate. Be aware that the financing rate can become expensive if you're not careful, especially as the financing rates for ChoiceTrade are significantly higher when compared with other brokers.

    ChoiceTrade Annual Margin Rate

    Asset

    ChoiceTrade

    Interactive Brokers

    TradeStation

    Margin Rate

    8%

    2.6%

    9.5%

    ChoiceTrade establishes it's financing rate by adding 6% to the FED funds rate. In our review, we used the FED overnight rate from 14 March 2020, so that we achieved a reliable comparison among fees used by brokers. The financing fees we've discussed so far also apply to options trading.

    What Are The Fees For Options? 

    With ChoiceTrade, you will benefit from low options fees. The commission for those is $0 per trade with an extra $0.40 per contract. Keep in mind that you will have a monthly maximum cap of $50. This monthly cap means that if you make more than 125 contract transactions per month, further commission essentially becomes $0.

    ChoiceTrade Options Commission (10 Contracts)

    Asset

    ChoiceTrade

    Interactive Brokers

    TradeStation

    Options

    $4

    $7

    $10

    What Are Non-Trading Fees? 

    When it comes to non-trading fees, ChoiceTrade has some of the highest costs. This broker has in place a high inactivity and withdrawal cost. And besides this, you will have to cover a one-time fee for creating international or business accounts.

    Each quarter the inactivity fee is $35. And this applies if you have less than five trades than you had in the previous quarter. Keep in mind that if you are a non-US resident, you will have to pay an extra $5 monthly fee for "maintenance purposes."

    Also, costs for withdrawing from your account are high:

    • $35 for outgoing domestic wire;
    • $60 for outgoing international wire;
    • $5 for domestic ACH with a limit of 3 per month;

    Non-trading Fees


    ChoiceTrade

    Interactive Brokers

    TradeStation

    Account fee

    Yes

    No

    No

    Inactivity fee

    Yes

    Yes

    Yes

    Deposit fee

    $0

    $0

    $0

    Withdrawal fee

    $5

    $0

    $35

    ChoiceTrade And Creating An Account 

    Setting up your account on ChoiceTrade is user-friendly and straightforward. The best part about it is that the entire process is digital (for both US and International traders). 

    ChoiceTrade Advantages

    ChoiceTrade Disadvantages

    Digital account opening process

    None

    The minimum deposit is low


    Simple and user-friendly process


    What Is The Lowest Deposit You Can Make At ChoiceTrade? 

    When creating an account with ChoiceTrade, the minimum deposit is $100. 

    How Many Account Types Are Available At ChoiceTrade?  

    There are five account types at ChoiceTrade: individual, joint, custodial, IRA, and specialty/corporate account. 

    Account Types

    Account Type

    Summary

    Individual Account

    Owned by an individual

    Joint Account

    Owned by 1 or more individuals

    Custodial Account

    Account for minors. (only of US clients)

    IRA Account

    Retirement account for US clients only

    Specialty/Corporate Account

    Owned by legal entity

    Even though you can open different specialty accounts, it is inconvenient because you can only do it offline. We believe this process should be online, similar to the other account opening processes. 

    What Are The Requirements For Opening An Account At ChoiceTrade? 

    ChoiceTrade has a transparent and user-friendly policy when it comes to creating an account. Everything is digital, and it takes on an average of two days to get access to your new account. You should know that ChoiceTrade is one of the few US brokers with such a policy. Most brokers don't give you access as quickly either.

    The first step is following a registration process for around 20 minutes. In this process, you will submit personal data, along with your answers to a couple of trading experience questions. After you have finished registration, ChoiceTrade will request that you submit a scan of an official document to verify your identity and residency. 

    • ID / passport / driver's license for identity check
    • Bank statement or utility bill for proof of residency

    Deposit And Withdrawal At ChoiceTrade 

    In our opinion, the deposit process with ChoiceTrade is satisfactory. The withdrawal is difficult and not so user-friendly. You should know that credit or debit cards are not allowed. Also, the withdrawal fee is higher when compared to other brokers. The withdrawal process is not as straightforward as you might expect.

    ChoiceTrade Advantages

    ChoiceTrade Disadvantages

    No deposit costs

    Credit or debit cards are not allowed


    Challenging withdrawal process

    What Are The Available Currencies For Your ChoiceTrade Account? 


    ChoiceTrade

    Interactive Brokers

    TradeStation

    Available Base Currencies

    1

    21

    9

    The number of base currencies at ChoiceTrade is limited when compared with similar brokers. In your trading account, you are allowed to use USD exclusively as the base currency.

    The base currency is crucial since you will have to use the same currency as your bank account to trade. If you trade in the same currency as your account's base currency, you won't have to cover a conversion fee. 

    In our opinion, the best way to avoid currency conversion fees is by creating a multi-currency bank account at a virtual bank. You can use services such as Revolut or TransferWise, which are two of the most used digital banks due to the available exchange rates and free or affordable international bank transfer costs.

    What Are The Deposit Fees And Options? 

    What we like about ChoiceTrade is that there is no deposit fee required. Bank transfers can be used for deposits. If you are a US resident, you can verify your deposit and ACH.

    Deposit Options


    ChoiceTrade

    Interactive Brokers

    TradeStation

    Bank Transfer



    Debit/Credit Card

    🚫

    🚫

    🚫

    Electronic Wallets

    🚫

    🚫

    🚫

    Deposits are only permitted from accounts in your name.

    The web trading platform for ChoiceTrade has a transparent fee structure and several order types. Still, we believe that the design is not user-friendly. You also won't benefit from two-step authentication or professional search tools.

    The withdrawal process at ChoiceTrade is somewhat tricky. You may have to pay several fees, such as a $5 withdrawal fee for domestic ACH, a $60 fee for non-US, and a $35 fee for US bank transfer. ChoiceTrade is not entirely a digital platform, and this means you will have to reach out to their customer service team to request a withdrawal. Keep in mind that non-US residents are allowed to use the bank transfer process solely. US residents can access the check and ACH withdrawal options. 

    Withdrawal Fees


    ChoiceTrade

    Interactive Brokers

    TradeStation

    Bank Transfer



    Debit/Credit Card

    🚫

    🚫

    🚫

    Electronic Wallets

    🚫

    🚫

    🚫

    Withdrawal fee

    $5

    $0

    $35

    What Is The Timeframe For Withdrawing Money From ChoiceTrade? 

    When we initiated a bank transfer with ChoiceTrade, we discovered that the process took three days. Keep in mind that you can only withdraw your funds to accounts in your name.

    What Is The Withdrawal Process At ChoiceTrade? 

    Withdrawing from ChoiceTrade is awkward when compared to other brokers. This difficulty occurs because you need help from their team to initiate the withdrawal process. We were unable to find a straightforward explanation on their website concerning the withdrawal process, either. 

    The withdrawal process at ChoiceTrade goes like this:

    • Identify and download the withdrawal form from ChoiceTrade. You can find it in the Support Section/ Forms/ Deposit/ Withdrawal menu.
    • Fill out the form, sign, scan, and email it to [email protected]. Also, you can fax the form or send it via regular mail to ChoiceTrade's headquarters.
    • Wait for feedback and confirmation that the withdrawal process has started. This confirmation email will give you additional information on the withdrawal fee you have to pay.

    ChoiceTrade Web Trading Platform 


    ChoiceTrade Advantages

    ChoiceTrade Disadvantages

    Straightforward report

    No two-step authentication process

    Versatile options for order types

    Unprofessional search capabilities

    Reliable confirmation for orders

    Outdated design

    Platforms Type


    ChoiceTrade

    Available

    Web

    ⭐️

    Yes

    Mobile

    ⭐️⭐️⭐️⭐️

    Yes

    Desktop

    ⭐️⭐️⭐️

    Yes

    ChoiceTrade Platforms & Prices


    Web Platform

    Elite Trader

    Direct Pro Trader

    QuoteStream Trader

    Monthly Price

    Free

    $29.99

    $135

    $14.95

    Web Trading

    Yes

    Yes

    Yes

    Yes

    Mobile Trading

    Yes

    Yes

    Yes

    Only With Pro Version

    Desktop Trading

    No

    Yes

    Yes

    Yes

    Own - 3rd Party

    Own

    3rd Party

    3rd Party

    3rd Party

    For our review, we used the web version for ChoiceTrade. This web version is free to use and only available in English.

    Design And Appearance 

    We said above that ChoiceTrade is not a user-friendly platform. There are three reasons why we said this:

    • Slow loading time;
    • Difficult-to-understand menus;
    • Inability to customize;

    When you sign in to your account, you can opt between the old or the redesigned platform. However, the distinction is mostly in the design of the menus, as most other aspects seem unchanged.

    Authentication and Security 

    ChoiceTrade is a platform with a one-step login. Two-factor authentication would be more secure but is unavailable.

    Search Capabilities 

    We noticed that the search function is not as professional as one might expect. You can search by adding the asset's ticker, but not its name. As an example, if you search Apple and not AAPL, you will get zero results. We think this would be an essential quality-of-life fix for users.

    Ordering on ChoiceTrade  

    You get access to a wide array of order types, such as:

    • Market
    • Limit
    • Stop
    • Stop Limit
    • Trailing Stop
    • Market/Limit on Close
    • Market/Limit on Open

    Also, you can benefit from several order time limits like:

    • Good 'til cancelled (GTC)
    • Good 'til the end of the day (GTD)
    • Immediate or Cancel (IOC)
    • Fill or Kill (FOK)
    • Day+Ext
    • All or Nothing (AON)

    Alerts and Notifications 

    ChoiceTrade doesn't come with price alerts or price notifications.

    Portfolio and Fee Reports 

    A good thing about ChoiceTrade is that it comes with a straightforward portfolio and fee reports. This direct approach means that you can select from several reports, such as account balance, commissions paid, or margin requirements. All this data is available at 'Manage Account' / 'E-Docs' / 'Reports'. It is worth noting that you need additional credentials from those you use for the trading platform so that you can access E-docs.

    ChoiceTrade Mobile Trading Platform 

    We believe that the mobile trading platform is more reliable than the web platform. ChoiceTrade comes with a user-friendly mobile platform, filled with secure search functions and several order types. The downside is that it doesn't come with two-factor authentication, and you can't benefit from price alerts.

    ChoiceTrade Advantages

    ChoiceTrade Disadvantages

    User-friendly mobile platform

    No two-step authentication process

    Reliable search capabilities

    No access to either price or notification alerts

    A wide array of order types

    No FaceID or touch login option

    We tested the ChoiceTrade mobile platform because it is the native mobile trading platform free of costs. It can be used in English.

    Design and Appearance 

    ChoiceTrade has a user-friendly mobile trading platform that is functional and has a modern design. Quite frankly, it's entirely different from the web trading platform.

    Authentication and Security

    As is the case with the web trading platform, ChoiceTrade's mobile version has one-step login. There is no biometric authentication, even though this would increase security. 

    Search Capabilities 

    Another advantage of the mobile trading platform for ChoiceTrade is that it comes with reliable search functions. You can submit a search with the asset's name or ticker.

    Ordering on ChoiceTrade  

    On the mobile trading platform, you can use similar order types and limits as the web trading platform.

    Alerts and Notifications 

    ChoiceTrade doesn't come with price alerts or notifications.

    ChoiceTrade Desktop Trading Platform 

    We believe that the ChoiceTrade Elite Trade desktop trading platform is "okay." Its appearance is usable, it features a straightforward fee report, and it gives you access to several order types. The downside is that you cannot customize the platform, and there is no two-step login available. The desktop trading platform from ChoiceTrade doesn't feature price alerts or notifications.

    ChoiceTrade Advantages

    ChoiceTrade Disadvantages

    Straightforward fee report

    Little to no customizability

    A wide array of order types

    No two-step authentication process

    Reliable search capabilities

    No access to either price or notification alerts

    We chose to test the ChoiceTrade Elite Trader desktop trading platform because:

    • ChoiceTrade doesn't feature a customizable desktop platform;
    • ChoiceTrade Elite Trader is their latest release for desktop trading platforms;
    • ChoiceTrade Elite Trader has a fee per month of $29.95, and you will stop paying it as soon as you reach $30,000 or more in your account.

    Design and Appearance 

    Overall, the appearance of ChoiceTrade's desktop trading platform is "okay." A significant drawback is that nothing is customizable. There are some errors on the platform, and we've noticed that the search function can malfunction.

    Authentication and Security 

    As it is the case with the mobile and web trading platform, ChoiceTrade's desktop version has one-step login. There is no biometric authentication, even though this could increase security. 

    Search Capabilities 

    We like the search capabilities of the desktop trading platform, as you can look for assets by using their names or tickers. This simple search functionality is unavailable on the web trading platform.

    Ordering on ChoiceTrade 

    On the desktop trading platform, ChoiceTrade allows you to use similar order types and limits as on the mobile and web trading platform.

    Alerts and Notifications 

    ChoiceTrade Elite desktop doesn't come with price alerts or notifications.

    Portfolio and fee reports 

    ChoiceTrade Elite offers straightforward fee reports and portfolios, which you can access via the Portfolio Tab.

    What Products and Markets Are Available At ChoiceTrade? 

    ChoiceTrade allows its users to trade with ETFs, stocks, and options available on US exchanges.


    ChoiceTrade

    Interactive Brokers

    TradeStation

    Stock

    ETF

    Forex

    🚫

    🚫

    Fund

    🚫

    Bond

    🚫

    Options

    Futures

    🚫

    CFD

    🚫

    🚫

    Crypto

    🚫

    🚫

    You can only access the US markets, as foreign exchange is not available. You can use NYSE, NYSE American (AMEX), and NASDAQ. ChoiceTrade provides no data on its website concerning the number of assets you can trade through its platform.

    What Are The Research Tools On ChoiceTrade? 

    We saw that the research features on this trading platform are reliable. You can look at the fundamental data and recommendations available. The downside is that the charts lack quality, while the research tools are challenging to understand.

    ChoiceTrade Advantages

    ChoiceTrade Disadvantages

    Trading ideas available

    Basic interactive charting

    Information on asset basics

    Difficult to understand

    Reliable news feed with qualitative data


    For our review, we used the web version for ChoiceTrade. This web version is free to use and available in English.

    Trading Ideas at ChoiceTrade

    The trading suggestions you can access with ChoiceTrade come from the advice of analysts. If you require background data about the analyst, you can simply access the Research tab, click on the Analyst tab and learn more about them.

    We like the robo-analyst tab, as it offers reliable trading suggestions you can use. It provides data accordingly to an automated algorithm. Keep in mind that this is not a free feature. You will have to join the 'End of Day Only' package, which costs $20. Or you can opt for the comprehensive package of 'Intraday + Daily Picks' for a fee of $60.

    Fundamental Data 

    Fundamental data on ChoiceTrade gets you access to details such as EPS, financial statements, insiders' share trading, or similar information. You can discover this in the 'Research' tab.

    Charting 

    If you're expecting professional charting tools, you will be disappointed. You will receive access to comparison charts and some technical indicators. There are no trendlines or charting editor tools for you to use. There are several competitor trading platforms with comprehensive technical indicators.

    Number of Technical Indicators


    ChoiceTrade

    Interactive Brokers

    TradeStation

    Technical indicators

    20

    119

    170

    So, if you want to use advanced charting, we suggest you try ChoiceTrade Elite. The data here is simple to edit and customize based on a wide array of technical features. The only downside is the monthly fee required for this tool.

    Newsfeed 

    This section on ChoiceTrade is quite useful. There is plenty of quality data that is simple to understand and read. It comes from third-party providers, similar to SeekingAlpha. This section is under the 'Research' tab.

    Additional Features  

    ChoiceTrade has several exciting features, including the Screener. This tool allows you to filter stocks. As an example, you can look explicitly for valuation, technical indicators, or stock exchange. We tested this tool, but we were slightly disappointed due to the number of bugs it has. For example, when we attempted to use a filter, the tab moved to the center of the screen and blocked the charts underneath it. We had to quit the program and sign in again to get rid of it.

    ChoiceTrade And The Customer Service Team 

    In our opinion, ChoiceTrade has a reliable customer service team. Each query of ours was answered with professionalism, and the team was knowledgeable in this field. You can receive a fast answer to your issue by phone or email. The downside is that there is no live chat available, and customer service is unreachable over the weekend. 

    ChoiceTrade Advantages

    ChoiceTrade Disadvantages

    Customer service available via phone or email

    No live chat available

    Rapid answers to all queries

    Limited support available

    Knowledgeable team

    Customer service unreachable in weekends

    Since there is no live chat available, you can reach ChoiceTrade by:

    • telephone
    • email

    We recommend phone support. It was quick and straightforward to receive accurate answers to our problem. Of course, the same thing happened with the email support, which answered with up-to-date and useful information for our request. 

    The customer service team at ChoiceTrade is reachable from 9 am to 5 pm Monday to Friday. It is unclear which time zone these times refer to, but it seems to be New York time as their main headquarters are in that time zone.


    ChoiceTrade and Education 

    After some testing, we concluded that the education tools are too elementary. While the quality of the educational material featured on the Elite platform is average, the Help & Learning Center is difficult to use, and the content is old and lacks quality.

    ChoiceTrade Advantages

    ChoiceTrade Disadvantages

    Access to a demo account

    Difficult to use

    Access to a tutorial for the trading platform

    Lack of quality data


    Old content, not updated for several years

    There are several ways that you can learn with ChoiceTrade:

    • Demo account
    • Platform tutorial videos
    • Quality educational articles

    Most of the educational materials available on the platform are related to trading and not to investment or general trading approaches. All the materials differ in dimension and quality based on the trading platform:

    • The ChoiceTrade web platform gets you access to learning data in text format. There are some video materials, but we believe these are not up-to-date, as some of those were published back in 2012.
    • The ChoiceTrade Elite Trader platform has user-friendly texts and structures. There are plenty of images and videos to help you navigate the platform. The downside might be that all of this material is placed in a small section on the screen, which can make it hard to see.

    Our opinion is that both ChoiceTrade web platform and ChoiceTrade Elite Trader come with a challenging interface with little to no user-friendly features.

    ChoiceTrade and Safety 

    ChoiceTrade is approved by the Securities and Exchange Commissions (SEC) and Financial Industry Regulatory Authority (FINRA). Users are protected with a high Investor protection amount: $500,000. Of this sum, only $250,000 protects cash. A minor disadvantage is that there is no negative balance protection.

    ChoiceTrade Advantages

    ChoiceTrade Disadvantages

    Access to top-tier financial authority clients

    Lack of negative balance protection

    Professional and reliable Investor protection

    Lack of a banking license

    Full disclosure to the public of financial information

    Not features on stock exchange

    What Are The Safety Regulations For ChoiceTrade? 

    ChoiceTrade is approved by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA). Also, ChoiceTrade is part of the Securities Investor Protection Corporation (SIPC). This brokerage firm has its headquarters in the USA, and it has been in business since 2000.

    Are There Any Safety Risks Associated With ChoiceTrade? 

    All trading involves risks to your capital, and you should always remember that. But we recommend you keep in mind the following:

    • Never trade money that you can't afford to lose
    • Minimize your risk by choosing a broker that is regulated by top-tier authorities

    Protection 

    All those who use ChoiceTrade investor protection receive coverage from SIPC. The SIPC coverage shields you against security problems and loss of cash if your broker goes bankrupt or leaves you in a difficult situation. You should know that the limit for such protection from SIPC is $500,000, and it features a $250,000 limit for cash. Both US and non-US residents can benefit from SIPC. The best part about it is that the amount covered is notably higher than any other European investor protection program.

    Keep in mind that not all investments are eligible for SIPC protection. Mostly, you can use SIPC for bonds, stocks, notes, common funds, or similar investment firm shares. There are plenty of instances not covered by SIPC, like unregistered limited partnerships, unregistered investment contracts, fixed annuity contracts, interests in gold, silver or currency. Any commodity contracts or options are not subject to SIPC protection.

    ChoiceTrade doesn't come with negative balance protection. A negative balance on your account will get you protection. 

    Background 

    As we said at the beginning of this review, ChoiceTrade has been on the market since 2000. These years of activity mean that they have a vast track record, and they will manage to overcome any potential financial hardship. We like that there is a lot of transparency from this brokerage firm, as their financial statements are revealed to the public annually. You can check out this data in the 'Investors Relations' section. 

    We conclude that ChoiceTrade is safe, as it is backed up by top-tier regulators, it's been on the market for two decades, and it has a transparent policy regarding financial statements.

    Conclusion 

    To sum up our review, ChoiceTrade is a reliable commission-free stock trading platform. You can create an account quickly and easily, as everything is digital. We like the mobile trading platform due to its simplicity and focus on user experience.

    The downside with ChoiceTrade is that it comes with high withdrawal and inactivity fees for bank transfers. Also, the withdrawal process is not as user-friendly as it should be, and you are limited to bank transfers. ChoiceTrade only allows you to trade with ETF, stocks, and options (forex not available).

    Based on your needs and expectations, ChoiceTrade can help you trade stocks and ETF's with no commission fees. If you start today, you could be trading in as little as two business days.

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