ChoiceTrade Review 2020

ChoiceTrade Rated 3/5
learn more Learn more about eToro. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

ChoiceTrade Guide

ChoiceTrade are an online broker founded in 2009 offering Forex trading trading, CFD trading trading, Spread Betting trading, Social trading trading, and Share Dealing trading.

ChoiceTrade are a global broker and have a head office in United States.

ChoiceTrade have a listed stock symbol. This means that ChoiceTrade have publically listed and you can officially buy shares in ChoiceTrade on one of the worlds global market exchanges.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of ChoiceTrade we break down the pros and cons. What ChoiceTrade are able to offer, what countries ChoiceTrade are available in. Who ChoiceTrade are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

Benefits of trading with ChoiceTrade

  • Regulated by: Unregulated
  • Headquarters Country : United States
  • Foundation year 2009
  • Min Deposit : 250
  • Used by over 10,000 traders
  • ChoiceTrade is not available in the following countries :
Open ChoiceTrade's Website

Your capital is at risk

At the bottom of this review you can also learn about some pretty good alternatives to ChoiceTrade

With this review we hope to help you see if ChoiceTrade is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding ChoiceTrade that will help you get off to a good start in the world of online trading.

ChoiceTrade Review Table of Contents

ChoiceTrade what you should know

ChoiceTrade offer five ways to trade: Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.

With ChoiceTrade you will need a minimum deposit of $250. You can sign up for a demo account to acquaint yourself with ChoiceTrade platform.

ChoiceTrade are able to accommodate various levels of traders whether you are experienced or a beginner.


Are ChoiceTrade safe?

When choosing a broker like ChoiceTrade the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2009, and in operation for 11 years ChoiceTrade have a head office in United States.

ChoiceTrade is regulated. This means ChoiceTrade are supervised by and is checked for conduct by the Unregulated regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to ChoiceTrade, this will be honored. If ChoiceTrade violate any regulatory rules their regulated status could be stripped.

Any payments funded to ChoiceTrade accounts by traders are held in a segregated bank account.

For added security ChoiceTrade use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Try creating two accounts when you are working with ChoiceTrade. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit ChoiceTrade

Your capital is at risk

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

Broker choicetrade eToro XTB Pepperstone
Year Established 2009 2006 2002 2010
Head Office United States Cyprus, UK Poland Australia
Regulation Unregulated Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC)
Used By 10,000+ 12,000,000+ 250,000+ 10,000+
Negative balance protection No Yes Yes
Guaranteed Stop Loss No Yes No
Learn More Visit ChoiceTrade Visit eToro Visit XTB Visit Pepperstone
Risk Warning Your capital is at risk 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Your capital is at risk CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

ChoiceTrade Pros and Cons

What we like about ChoiceTrade

  • Used by over 10,000 traders
  • Established in 2009
  • Regulated by Unregulated
  • Min. deposit from $250

What we don't like about ChoiceTrade

ChoiceTrade Financial Regulation and Supervision in more detail

ChoiceTrade are not supervised or regulated by any well known regulatory bodies. Its normal to find online brokers like ChoiceTrade that are not regulated yet appear to be legitimate.

ChoiceTrade maybe relatively new. Some brokers provide their service under offshore licenses to save operational costs. Regulatory licensing can be very costly. We recommend only trading with regulated brokers. Should anything go wrong with ChoiceTrade you are not guarenteed help in a difficult situation.

  • Unregulated

ChoiceTrade General Fees

  • ChoiceTrade withdrawal fees varies on payment method
  • ChoiceTrade does charge inactivity fees
  • ChoiceTrade does charge deposit fees
Broker choicetrade eToro XTB Pepperstone
Min Deposit 250 200 0 200
Withdrawl Fees $2.5 Yes varies No
Inactivity Fees Yes No Yes
Deposit Fees No No No
CFD Commission Fees No Yes Yes

ChoiceTrade Commissions

  • ChoiceTrade does charge commission on CFD instruments.

What can you trade with ChoiceTrade?

You can trade a wide variety of instruments with ChoiceTrade over 73 instruments infact.

If you are looking at trading currency pairs ChoiceTrade offer over currency pairs.

Compare ChoiceTrade with eToro and XTB below.

Your capital is at risk

Broker choicetrade eToro XTB Pepperstone
Instruments Available 73 100 1,500 100
Platforms cTrader, SocialTrading, copyTrading, webPlatform, DesktopPlatform, Proprietary . Web Trader, Tablet & Mobile apps MT4, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps
FX / Currencies Visit ChoiceTrade Visit eToro Visit XTB Visit Pepperstone
Forex pairs offered 50 50 70
Major forex pairs No Yes Yes Yes
Minor forex pairs No Yes Yes Yes
Exotic forex pairs No Yes Yes Yes
Cryptocurrencies No Yes Yes Yes
Commodity CFDs Visit ChoiceTrade Visit eToro Visit XTB Visit Pepperstone
Commodities Offered 0 0 21 16
Metals No Yes Yes Yes
Energies No Yes Yes Yes
Agricultural NO Yes Yes No
Indiced & Stock CFDs Visit ChoiceTrade Visit eToro Visit XTB Visit Pepperstone
Stocks Offered 957 1696 60
UK Shares No Yes Yes No
US Shares NO Yes Yes No
German Shares No Yes Yes Yes
Japanese Shares No Yes Yes No

Trading on ChoiceTrade web platforms and other applications

ChoiceTrade offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

ChoiceTrade is one of a handful of brokers that offer the cTrader platform developed for traders. For a list of forex brokers that offer the cTrader platform, check out our comparison of MT4 brokers.

ChoiceTrade also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.

See choicetrade's platforms

ChoiceTrade Trading benefits :

  • Low min deposit

ChoiceTrade Trading Accounts Offered :

  • Demo account
  • Mini account

Can I try ChoiceTrade before I buy?

ChoiceTrade offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

ChoiceTrade withdrawl and funding methods.

ChoiceTrade offer the below funding payment methods. learn more about ChoiceTrade

  • Credit cards
Broker choicetrade eToro XTB Pepperstone
Bank transfer No Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes Yes Yes
Skrill No Yes Yes Yes
Payoneer No Yes Yes Yes
Neteller No Yes Yes Yes

How can I start trading with ChoiceTrade?

When opening a trading account with ChoiceTrade, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on ChoiceTrade trading platforms here.

Performing trades with ChoiceTrade

ChoiceTrade allow you to execute a minimum of trade of $5. This may vary depending on the account you open. ChoiceTrade allow you to execute a maxium trade of varies.

As a market maker, ChoiceTrade may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments.

ChoiceTrade Leverage and ChoiceTrade CFDs Explained

let's take a look at some of the basics of using ChoiceTrade leverage.

ChoiceTrade offer CFD are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

ChoiceTrade leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the ChoiceTrade trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The ChoiceTrade leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

ChoiceTrade CFDs are typically used for short to medium term trades. For example ChoiceTrade intraday trading.

Education resources at ChoiceTrade

To trade effectively with ChoiceTrade, it's important to get a have a good understanding of the ChoiceTrade trading tools and the markets.

ChoiceTrade offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with ChoiceTrade.

Take time to look around the ChoiceTrade platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at ChoiceTrade

ChoiceTrade support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian

ChoiceTrade have a D grade support rating because because sometimes the response was slow or our query wasnt answered. ChoiceTrade less customer support features compared to other brokers like live chat, phone and email support. email support and supports a limited amount of Languages. Live chat support supports a limited amount of Languages. Phone support supports a limited amount of Languages.

Livechat Support at ChoiceTrade

We tested the ChoiceTrade live chat and it works well. We sent messages to ChoiceTrade livechat through their app and website and recieved a response within 20 minutes. Sometimes there was no response.

We tested communicating with ChoiceTrade support in multiple languages in multiple countries. ChoiceTrade where able to resolve our customer issues.

Email Support at ChoiceTrade

We sent several emails to ChoiceTrade and answer times overall were excellent. The fastest response from ChoiceTrade was 4 hours and the slowest response was 5 days. Sometimes there was no response. Support response times may vary for you with ChoiceTrade, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall average email support from ChoiceTrade.

Phone Support at ChoiceTrade

We called ChoiceTrade and the call was answered very quickly. The call was answered in less than 5-10 minutes.

The ChoiceTrade phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual ChoiceTrade team by calling in varying languages. ChoiceTrade made an effort to make sure our queries were answered.

Overall the phone support from ChoiceTrade was okay.

See how ChoiceTrade Support Compares Against Other Brokers

Broker choicetrade eToro XTB Pepperstone
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian English, German, Spanish, French, and Italian English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic
Learn More Visit ChoiceTrade Visit eToro Visit XTB Visit Pepperstone
Risk Warning Your capital is at risk 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Your capital is at risk CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

What you will need to open an account with ChoiceTrade

As ChoiceTrade is regulated by Unregulated, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore ChoiceTrade's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with ChoiceTrade you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.choicetrade.com/ on 12th August 2018.

Is ChoiceTrade A Good Broker?

We spent over 3 months examining ChoiceTrade in depth. Although we found some very useful aspects of the ChoiceTrade platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative ChoiceTrade broker.

  • ChoiceTrade have a good track record of offering Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.
  • ChoiceTrade has a history of over 19 years.
  • ChoiceTrade has a reasonable sized customer support of at least 10.
  • ChoiceTrade are regulated by Unregulated. This means ChoiceTrade fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • ChoiceTrade have regulation from a Tier 1 reputable country.
  • ChoiceTrade has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • ChoiceTrade have an international presence in multiple countries. This includes local ChoiceTrade seminars and training.
  • ChoiceTrade are able to hire people from various locations in the world who can better communicate in your local language.

ChoiceTrade Risk Disclaimer

Your capital is at risk

ChoiceTrade not quite right?

Check out these ChoiceTrade Alternatives

We have spent years researching the best alternatives to ChoiceTrade. Click the links below to learn more.

If you feel some of the above ChoiceTrade are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of ChoiceTrade alternatives below.

Related ChoiceTrade Comparisons

If you would like to see how ChoiceTrade stands up against other brokers you can read some of our ChoiceTrade comparisons below. We compare side by side some of our top rated ChoiceTrade versus comparisons. Read some indepth ChoiceTrade VS pages below.

CHOICETRADE Frequently Asked Questions

Can I try ChoiceTrade before I buy?

ChoiceTrade offer a demo account so you can try before you put down and payment. Learn more here

What funding methods do ChoiceTrade accept?

ChoiceTrade offer the following funding payment methods accept Credit cards, among other payment methods.
Learn more here

Your capital is at risk

Is ChoiceTrade safe?

While ChoiceTrade may not be considered unsafe, they are not regulated or supervised by any major regulatory body. Depending on your trading style this may be okay. We recommend you trade with a regulated broker.Any payments funded to ChoiceTrade accounts by traders are held in a segregated bank account. For added security ChoiceTrade use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Is ChoiceTrade trading good?

While ChoiceTrade may not necessarily be considered bad, they are not regulated. We would recommend trading with only regulated brokers.ChoiceTrade is used by over ChoiceTrade active traders. ChoiceTrade offers Forex trading trading, CFD trading trading, Spread Betting trading, Social trading trading, and Share Dealing trading. Minimum deposit with ChoiceTrade is mindeposit.

Is ChoiceTrade trading Legit?

ChoiceTrade was founded in United States in 2009. ChoiceTrade has been facilitating trade on the financial markets for over 11 years. ChoiceTrade offers clients Forex trading trading, CFD trading trading, Spread Betting trading, Social trading trading, and Share Dealing trading. All funds deposited to ChoiceTrade are held in segregated tier 1 bank accounts for security. ChoiceTrade is not regulated. Although this doesnt mean ChoiceTrade are awful, we recommend trading with regulated brokers.

Is ChoiceTrade a good broker?

ChoiceTrade is not regulated by a top tier financial regulator. While many traders may still find trading with ChoiceTrade useful, we recommend only trading with a broker that has regulation.ChoiceTrade allows Forex trading trading, CFD trading trading, Spread Betting trading, Social trading trading, and Share Dealing trading.

Is ChoiceTrade trustworthy broker?

While having many plus points because ChoiceTrade is not regulated we personally would not trade with them. Make any broker you trade with is regulated and places any funded money into segregated tier 1 bank accounts. If your money is in a segregated bank account the broker has no direct access to your funds so cannot misappropriate your money.

What is the minimum deposit for ChoiceTrade?

The minimum deposit to trade with ChoiceTrade is 250.

How long do ChoiceTrade withdrawals take?

Withdrawing money from ChoiceTrade processing time varies but averages 2-5 days.

Is ChoiceTrade regulated?

ChoiceTrade is not regulated by a top tier financial regulator.

Is ChoiceTrade a market maker?

ChoiceTrade is a not a market maker. A market maker speeds up trading as a market maker will purchase your stocks and commodities even is a buyer is not lined up.

How can I start trading with ChoiceTrade?

When opening a trading account with ChoiceTrade, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on ChoiceTrade trading platforms here.

Is my money safe with ChoiceTrade?

ChoiceTrade is regulated by Unregulated. One of the most important criteria for traders when choosing a broker like ChoiceTrade is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to ChoiceTrade, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is ChoiceTrade a con?

While we would noy say that ChoiceTrade is a con. Because they are not regulated by a top tier financial regulator we would not trade with them.

Can you make money with ChoiceTrade?

Although traders have had great success with ChoiceTrade. Trading on the financial markets with ChoiceTrade is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Your capital is at risk.

Does ChoiceTrade have fees?

ChoiceTrade withdrawal fees varies on payment method. ChoiceTrade does charge inactivity fees. ChoiceTrade does charge deposit fees.

When was ChoiceTrade founded?

ChoiceTrade was founded in 2009.

How many people use ChoiceTrade?

ChoiceTrade is used by over 10000 registered traders.

What is ChoiceTrade Headquarters country?

ChoiceTrade has its head quarters office in United States.

Does ChoiceTrade offer negative balance protection?

ChoiceTrade does not offer negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does ChoiceTrade offer guaranteed stop loss?

ChoiceTrade does not offer guaranteed stop loss. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price.

Does ChoiceTrade allow scalping?

ChoiceTrade does not offer scalping.

Does ChoiceTrade allow hedging?

ChoiceTrade does not offer hedging.

Does ChoiceTrade offer CFD trading?

ChoiceTrade offers CFD trading.

Does ChoiceTrade offer STP?

ChoiceTrade does not offer STP trading.

How many people use ChoiceTrade?

ChoiceTrade is used by over 10000 traders.

Is ChoiceTrade an ECN broker?

ChoiceTrade does not offer ECN trading.

Does ChoiceTrade offer a demo account?

ChoiceTrade offers a demo account.

Does ChoiceTrade offer an Islamic account?

ChoiceTrade does not offer Islamic accounts.

What are the funding methods for ChoiceTrade?

ChoiceTrade accept the following funding methods : Credit cards,

ChoiceTrade review written by Andrew Blumer and Mark Hansen

We hope you found our review of the ChoiceTrade brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

ChoiceTrade review written by Mark Hansen of Comparebrokers.co