ChoiceTrade Review 2020

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.

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.

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.

ChoiceTrade review written by Andrew Blumer and Mark Hansen