ChoiceTrade review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
ChoiceTrade is a US broker aimed at experienced traders, and stock dealing comes at $0. The trade-off is the account fee of $10 plus a $100 minimum deposit, which together make it a poor fit for small or occasional portfolios.
Key facts
- Best for
- Experienced US traders who want commission-free share dealing and a flat account charge.
- Minimum deposit
- $100↗
- Stock trade fee
- $0↗
- Account fee
- $10↗
- Markets
- Stocks, ETFs, Options↗
- Regulators
- SIPC↗
- Investor protection
- SIPC up to USD 500,000↗
- Options contract fee
- $0.40↗
- Platforms
- ChoiceTrade Direct Pro, ChoiceTrade Elite, Mobile Apps↗
- Legal entity
- LETSGOTRADE INC↗
- Headquarters
- United States↗
- Founded
- 2000↗
- Support channels
- Email, Phone↗
- Features
- Demo account, Mobile app
- Pricing model
- Commission-free
- Audience
- Experienced traders
- Official website
- choicetrade.com
Facts checked September 26, 2026, 5 sources
Pros and cons
Pros
- Stock dealing is commission free at $0, and options are priced at $0.40.
- A demo account and a mobile app are included (demo account and mobile app), so an order can be rehearsed before real money is committed.
- SIPC membership brings investor protection of SIPC up to USD 500,000.
- Support runs on email and phone, giving you both a phone line and email.
Cons
- The account fee of $10 is charged whatever you trade, so small balances carry the same cost as large ones.
- The minimum deposit of $100 sets a floor that starter portfolios may not reach.
- Markets cover stocks, etfs and options only, so traders after other asset classes need a different broker.
Who it suits
- Experienced traders who already work with options, since the stated audience is experienced.
- US investors buying shares and ETFs, covered by SIPC investor protection of SIPC up to USD 500,000.
- People who want both desktop and mobile dealing: ChoiceTrade Direct Pro, ChoiceTrade Elite and mobile apps (ChoiceTrade Direct Pro, ChoiceTrade Elite and Mobile Apps).
Who should look elsewhere
- Anyone starting with a small amount, since CFI opens at $0 while ChoiceTrade asks for $100.
- Traders in the euro zone who prefer a euro account, since bunq starts at €10.
Where it sits among rivals
On cost, ChoiceTrade ranks 1 of 166 brokers on stock trade fee, the strongest of the measures here. The account fee ranks 118 of 142, and the minimum deposit 151 of 218, so it is the entry level rather than trading cost that holds it back.
How ChoiceTrade compares
8.9 vs 9.4
8.9 vs 8.7
8.9 vs 8.3
8.9 vs 8.5
8.9 vs 9.4
8.9 vs 9.3
8.9 vs 8.7
8.9 vs 9.2
8.9 vs 8.7
8.9 vs 8.6
8.9 vs 9.2
8.9 vs 9.2
8.9 vs 9.0
8.9 vs 9.2
8.9 vs 9.2
8.9 vs 9.2
8.9 vs 9.1
8.9 vs 9.0
8.9 vs 9.0
8.9 vs 9.0
8.9 vs 9.0
8.9 vs 8.8
Where ChoiceTrade is available
- Available
- United States
- Licence in United States
- SIPC (SIPC member 52511), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does it cost to trade with ChoiceTrade?+
Stock dealing is charged at $0 and options at $0.40, and the account itself carries a fee of $10. The stated model is commission free, so there is no trading commission layered on top of that account charge.
Is my money protected at ChoiceTrade?+
ChoiceTrade trades as LETSGOTRADE INC (LETSGOTRADE INC) and is registered with SIPC in the US under SIPC member 52511, the regulator named in the record (SIPC). Investor protection stands at SIPC up to USD 500,000, and the broker is headquartered in the US (US).
Which platforms can I trade on?+
Trading runs on ChoiceTrade Direct Pro, ChoiceTrade Elite or the mobile apps (ChoiceTrade Direct Pro, ChoiceTrade Elite and Mobile Apps). A demo account is listed among the features (demo account and mobile app), so an order can be rehearsed before real money is committed.
What markets can I trade?+
The market list covers stocks, etfs and options. Shares and ETFs form the core of it, with options priced separately at $0.40, and traders after other asset classes will need a different broker.
Is ChoiceTrade beginner friendly?+
The stated audience is experienced (experienced), and the platform assumes familiarity with order types and option contracts. A demo account (demo account and mobile app) is listed for rehearsal, so new investors may want a simpler broker first.
How much do I need to open an account?+
The minimum deposit is $100 and the account fee of $10 applies on top of whatever balance you hold. Support comes by email and phone, so funding and account questions go to email or phone.
Is ChoiceTrade a new broker?+
ChoiceTrade was founded in 2000 and trades as LETSGOTRADE INC, a US broker aimed at experienced traders (experienced). The age of the firm is a starting point, while fees, the market list and SIPC membership are the practical checks.
Sources
- sipc.org/list-of-members checked September 26, 2026
Backs: Investor protection, Legal entity, Regulators, Licences
“reportingFileNumber=52511; name=LETSGOTRADE INC”
- choicetrade.com checked September 26, 2026
Backs: Features, Headquarters, Markets, Platforms
“Test Drive / Demo - Experience our platform before opening an account”
- choicetrade.com/about-us.php checked September 26, 2026
Backs: Audience, Founded
“optimal choice for active traders, self-directed investors”
- choicetrade.com/pricing.php checked September 26, 2026
Backs: Account fee, Minimum deposit, Pricing model, Options contract fee, Stock trade fee
“$10.00 monthly maintenance for non-U.S. accounts”
- choicetrade.com/trading-products.php checked September 26, 2026
Backs: Support channels
“Call Us (877) 731-9114 - Email Us service@choicetrade.com”
Compiled from 5 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Inactivity fee, Retail accounts that lose money.
ChoiceTrade
Experienced US traders who want commission-free share dealing and a flat account charge.