Choice Trade Review

By Analyst: Robert Stammers, CFA
December 31, 2008

(broker review) - Choice Trade is an online brokerage featuring low-cost equity and option trades. Choice Trade's best feature is its cost-effective equity trades of $5.00 and there is no minimum value required to open an account and there is no monthly fee for their base platform, ChoiceTrader Online. Option prices are $0.99 per trade with an $8.95 minimum. A $25 charge is attached to broker-assisted trades with $25 for exercise and assignment. ChoiceStreamer ($14.95 a month) is a robust package of dynamically updating quotes, charts and trading tools that integrates seamlessly with ChoiceTrader Online. This product is free if you do five trades or more per month.

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Choice Trade offers its ChoiceTrader Direct Pro platform including charting tools, bracket orders, and position and order management at $84 a month. Trades using Direct Pro are $0.01 per share, including ECN fees..

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