ChoiceTrade Review 2021

ChoiceTrade Rated 3/5
learn more Learn more about eToro. 71% of retail investor accounts lose money when trading CFDs with this provider.
ChoiceTrade Review Screenshot

ChoiceTrade Guide - Read our In Depth ChoiceTrade Review

This ChoiceTrade review was written by industry experts with over 20 years of financial experience in Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.

What is ChoiceTrade?

ChoiceTrade are a global online financial trading platform and multi asset broker founded in 2009

Over 12 years later ChoiceTrade has grown to offering retail investors Forex trading, CFD trading, Spread Betting trading, Social trading, and Share Dealing trading.

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

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

We will dive deep in this ChoiceTrade review and assess how well the ChoiceTrade platform functions in its role as an international multiple financial asset trading platform for traders in 2021.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. Choosing an online broker like ChoiceTrade can be difficult. For a beginner, the first few hurdles can come in the form of what appears to be a complex mobile or online trading platform, hard to understand investment terminology and confusing fee structures. In our review of ChoiceTrade we breakdown 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.

This is why we have taken the time to review only the best brokerage firms, their practices, their fee structure and all other important aspects. We want you to evaluate and analyse and trust your hard-earned cash with only the safest and best of brokers. We hope you find this ChoiceTrade review useful.

This review of the ChoiceTrade platform is very detailed. If you are interested in trading with ChoiceTrade in any capacity please take the time to read and research the whole ChoiceTrade review.

We have tried to explain the ins and outs of financial trading through the ChoiceTrade platform as plainly as possible so that you the trader are as informed as possible before you start to use the ChoiceTrade trading tools and depositing and withdrawing funds from ChoiceTrade.

Benefits of trading with ChoiceTrade

Open ChoiceTrade's Website

Your capital is at risk

Investing online can be just as risky as any other kind of offline investment. As with any investment, it is important to know and research the company you are dealing with. When trading financial assets with ChoiceTrade like Forex trading, CFD trading, Spread Betting trading, Social trading, and Share Dealing trading. you should have confidence in ChoiceTrade and know that the management of your financial investments on the ChoiceTrade platform is in good hands.

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

With this ChoiceTrade 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 review
ChoiceTrade is a Multi-Assets Trading Platform with over 73+ Assets

Learn more about ChoiceTrade. ChoiceTrade is a multi asset platform with 73+ tradable Assets. Assets available on ChoiceTrade include Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.

ChoiceTrade trades in multiple financial asset types. An asset in financial investment, is any security or asset, tangible or intangible, that has a financial value attached. This means that Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing are considered financial assets.

ChoiceTrade review
Features of ChoiceTrade

ChoiceTrade review
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.

ChoiceTrade review
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 12 years ChoiceTrade have a head office in United States.

ChoiceTrade is not regulated. This means ChoiceTrade are not supervised by any regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to ChoiceTrade, this will be honored.

ChoiceTrade review
Is my money safe with ChoiceTrade?

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.

What are Tier 1 banks and why should ChoiceTrade use them?

A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing the financial strength of a bank. A Tier 1 bank has strong core capital reserves and financial regulators utilize tier one banks because they are able to withstand unexpected financial losses.

What does it mean to have your funds in ChoiceTrade deposited in a Tier 1 bank?

Having any money you deposit with ChoiceTrade means that your funds are safe in a bank that has enough capital to accommodate your withdrawal wishes even if ChoiceTrade goes out of business for some reason.

Therefore, we can safely conclude that ChoiceTrade is secure and safe.

That said, please note that you can lose funds when trading in financial assets. Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform.

While trading in financial investments, losing money rapidly due to trading Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing is not uncommon. Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility. ChoiceTrade also clearly state on their platform that Your capital is at risk.

Now that we have answered some important questions regrding ChoiceTrade. let us look at the ChoiceTrade features in more detail.

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.

How ChoiceTrade as a Company Compare Against Other Brokers

Broker choicetrade eToro IC Markets XTB
Year Established 2009 2006 2007 2002
Head Office United States Cyprus, UK Australia Poland
Regulation Unregulated Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), 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, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG)
Used By 10,000+ ChoiceTrade users 17,000,000+ eToro users 60,000+ IC Markets users 250,000+ XTB users
Negative balance protection Yes Yes Yes
Guaranteed Stop Loss No No No
Learn More Visit ChoiceTrade Visit eToro Visit IC Markets Visit XTB
Risk Warning Your capital is at risk 71% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits 82% 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 review
ChoiceTrade Pros and Cons

What we like about ChoiceTrade

  • Used by over 10,000 ChoiceTrade users and traders
  • Established in 2009
  • Min. deposit from $250

What we don't like about ChoiceTrade

ChoiceTrade review
ChoiceTrade Regulation and Licensing 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 review
Is ChoiceTrade Global?

Yes, ChoiceTrade is global as ChoiceTrade is available in over 194 countries.

ChoiceTrade is a global trading platform in the sense that it operates in 194 nations including nations in Europe, Asia, Oceania, and Africa. Major countries ChoiceTrade covers include the UK, Germany, Australia, South Africa, Thailand, the United States and China. ChoiceTrade has a total of more than 10,000 users.

ChoiceTrade review
ChoiceTrade Fees Explained

  • ChoiceTrade withdrawal fees varies on payment method
  • ChoiceTrade does charge a fee for inactive accounts.
  • ChoiceTrade does charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company, brokers may charge clients various fees.

How ChoiceTrade Fees Compare Against Other Brokers

Broker choicetrade eToro IC Markets XTB
Min Deposit 250 200 200 0
Withdrawal Fees $2.5 Yes No varies
Inactivity Fees Yes No No
Deposit Fees No Varies No
CFD Commission Fees No Yes Yes

ChoiceTrade review
ChoiceTrade Minimum Deposit

ChoiceTrade require a minimum desposit of 250 GBP/USD when opening an ChoiceTrade trading account.

A minimum deposit is the minimum amount of money required by ChoiceTrade to open a new online brokerage account with them.

Dont be scared off by brokers like ChoiceTrade charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on there platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

ChoiceTrade review
ChoiceTrade Withdrawal Fees

ChoiceTrade withdrawal fees vary depending on your selected withdrawal payment method.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees and processing times.

ChoiceTrade for example allow you to withdraw your funds to Credit cards, Debit Cards, Bank Transfer.

ChoiceTrade review
ChoiceTrade Inactivity Fees

ChoiceTrade does charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

ChoiceTrade review
ChoiceTrade Desposit Fees

ChoiceTrade does charge deposit fees.

Some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

ChoiceTrade review
ChoiceTrade Commission Fees

ChoiceTrade does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

ChoiceTrade review
What can you trade with ChoiceTrade?

Be aware that Different entities under ChoiceTrade Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client.

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 IC Markets below.

Your capital is at risk

How ChoiceTrade Trading Options Compare Against Other Brokers

Broker choicetrade eToro IC Markets XTB
Instruments Available 73 2000 232 4000
Platforms cTrader, SocialTrading, copyTrading, webPlatform, DesktopPlatform, Proprietary . Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac MT4, Mirror Trader, Web Trader, Tablet & Mobile apps
FX / Currencies        
Forex pairs offered 50 65 50
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        
Commodities Offered 0 31 19 21
Metals No Yes Yes Yes
Energies No Yes Yes Yes
Agricultural NO Yes Yes Yes
Indiced & Stock CFDs        
Stocks Offered 2042 110 1696
UK Shares No Yes No Yes
US Shares NO Yes Yes Yes
German Shares No Yes Yes Yes
Japanese Shares No Yes Yes Yes
Risk Warning Visit ChoiceTrade
Your capital is at risk
Visit eToro
71% of retail investor accounts lose money when trading CFDs with this provider.
Visit IC Markets
Losses can exceed deposits
Visit XTB
82% 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 review
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 review
Is the ChoiceTrade Trading Platform Secure?

ChoiceTrade safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. ChoiceTrade also urges its clients through its web platform to always look for the SSL security sign (a lock sign) o the browser while operating ChoiceTrade.

ChoiceTrade review
ChoiceTrade Trading Platform Options

Once you have logged into your ChoiceTrade account you will see the below trading platform options available to you.

  • MetaTrader 4 (MT4)
  • cTrader

ChoiceTrade does not offer the MetaTrader 5 (MT5) trading platform. If you are looking for a online platform that does support MT5 click here

Lets explore each of these trading platforms in detail and what options ChoiceTrade gives you.

ChoiceTrade review
ChoiceTrade MetaTrader 4 (MT4)

ChoiceTrade MetaTrader 4

MetaTrader 4 also known as MT4 is the number one trading platform on the planet and has been in active use on financial markets since 2005. The MetaTrader 4 software delivers a feature-rich, user-friendly interface and an extremely customisable trading environment, designed to ful fill all of your trading needs and boost your trading performance. Charting functionality and advanced order management tools make certain you could monitor your positions quickly and economically.

Understand that the MetaTrader 4 (MT4) trading platform was developed primarily to trade Forex but you can also trade other types of financial instruments through CFDs and Spread Betting. You will not be able to trade Stocks, Indices, Commodities, ETFs, Futures on any MetaTrader 4 (MT4) platform unless they are CFD contracts or Spread bets. You will not own any underlying assets with CFDs or Spread bets as you are speculating on price movements with ChoiceTrade. You can learn more about the MT4 Platform here.

You can start using the MetaTrader 4 platform with ChoiceTrade in multiple formats including through an online web platform, Through a downloadable application for Windows PC's and Apple Macintosh computers. ChoiceTrade MetaTrader 4 is compatible with the latest macOS Mojave. ChoiceTrade allows traders to trade on mobile devices through Android and IOS devices like the iPhone.

Metatrader 4 Webtrader on ChoiceTrade

MetaTrader 4 is the most popular trading platform in the world as most and more traders begin to trade online Metatrader 4 is available as a web based application available through your web browser. MetaTrader 4 web software provides the same easy to use performance as the desktop version using advanced charting, a highly customisable trading environment, easy to access online trading tools and many different indicators. You can enjoy our Raw Pricing trading environment without a Dealing Desk from anywhere in the world.

Trade ChoiceTrade MetaTrader 4 on IOS Devices

You can download the ChoiceTrade app or also trade with ChoiceTrade through the MetaTrader 4 application on the Apple app store.

Download the Metaquotes MetaTrader 4 Program for free of charge from Apple's App Store. IC Markets customers have instant access to this Financial markets, with the ability to completely manage a Portfolio on the go.

Trade ChoiceTrade MetaTrader 4 on Android Devices

Andorid mobile devices and tablets are used by millions of people globally. ChoiceTrade provides its clients access to the MetaTrader 4 platform on Android supported devices so that customers can monitor the financial marketplace and trade directly from their Android-based Smartphones and tablets. The Android ChoiceTrade MetaTrader 4 Android application enable traders to make the most of multiple advanced trading features which enables them to monitor and trade Forex quickly on the go, simply and securely.

Trade ChoiceTrade MetaTrader 4 Trading Central

Trading Centrals Alpha Generation Indicators is a Bundle of three Major indicators including:

  • Analyst Perspectives - A go-to resource for leadership and key levels.
  • Adaptive Candlesticks - Identifies chart patterns which illustrate important changes in demand and supply.
  • Adaptive Divergence Convergence (ADC) - Much like MACD however useful at shorter lengths and provides more timely signs.

ChoiceTrade MetaTrader 4 Advanced Trading Tools

The ChoiceTrade advanced trading tools for MetaTrader 4 are aimed at improving the total trading experience and providing traders with a competitive advantage. ChoiceTrade offers access to 20 exclusive tools which includes feature rich trade execution & management programs, sophisticated notification alarms, messaging facilities, innovative market data & more.

Trade ChoiceTrade MetaTrader 4 MultiTerminal

MetaTrader 4 MultiTerminal provides a intuitive easy to use dashboard where traders can administer and supervise several trading accounts. MultiTerminal will let you manage over 100 Accounts simultaneously allowing you to place market orders, pending orders, view live market prices and track all accounts and equity at real time. All Trading accounts must be in on the same MetaTrader server. MultiTerminal doesn't support Automated Trading scripts like Expert Advisors.

ChoiceTrade MetaTrader 4 AutoChartist

ChoiceTrade Autochartist provides the world's first Market Scanner available for MT4 using a non-trading Expert Advisor script. Scan markets for trading opportunities while viewing all symbols and time intervals from a single graph. Gone are the days of launching a lot of graphs on which you can't remember which currency you're taking a look at. Autochartist offers a simple user interface that can be customized to suite how you like to trade.

ChoiceTrade review
ChoiceTrade cTrader

ChoiceTrade cTrader

CTrader is a comprehensive trading platform solution for Forex and CFD brokerages to provide to their traders. The platform is packed with a complete variety of features to cater to each and every investment taste imaginable.

The cTrader Premium Charting and Manual Trading Platform available on ChoiceTrade

cTrader is a top multi-asset Forex and CFD trading platform. cTrader offers advanced order types, charting tools, amount II pricing, and quick entry and execution. Using a amazing looking layout and dashboard, it is linked to state of the art infrastructure, that can be accessed from many devices.

IC Markets cTrader

cTrader Copy available on ChoiceTrade

CTrader Copy empowers everyone on the platform to share their investment strategy and to share their trading strategy for a fee or commission. Other dealers can search and replicate the approaches available, and revel in a commitment-free investing. Furthermore, traders can use their own risk management configurations.

IC Markets cTrader Copy Trading

cTrader Automate available on ChoiceTrade

CTrader Automate provides traders the ability to create algorithmic trading robots to automate financial trading plans. Dealers can use cTrader's contemporary C# API to write code within the IDE, the IDE allows developers optimize and test their financial robots.

cTrader Open API available on ChoiceTrade

Build your own software using cTraders Open API. It is a free, secure and publicly available API for all. Developers can take advantage of cTraders mature infrastructure to construct desktop, mobile and online software. The open API allows developers to interact and interface with any cTrader account.

You can learn more about the cTrader Platform Here.

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

Your capital is at risk

ChoiceTrade withdrawal and funding methods.

Please note that the list of ChoiceTrade payment methods below depend on the ChoiceTrade Entity and the Clients Country of Residence.

All available ChoiceTrade payment methods available to you can be found in your ChoiceTrade members area checked on the ChoiceTrade website.

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

ChoiceTrade Payment Methods

  • ChoiceTrade accepts Credit cards
  • ChoiceTrade accepts Debit Cards
  • ChoiceTrade accepts Bank Transfer
Broker choicetrade eToro IC Markets XTB
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes Yes Yes
Skrill No Yes Yes Yes
Payoneer No Yes No Yes
Neteller No Yes Yes Yes

*please note available ChoiceTrade and other broker payment methods depend on the clients country of residence.

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.

Your capital is at risk

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 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 IC Markets XTB
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, Italian English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish
Learn More Visit ChoiceTrade Visit eToro Visit IC Markets Visit XTB
Risk Warning Your capital is at risk 71% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits 82% 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:

Be aware Please kindly note that the expiration date of Proof of address document for different entities under ChoiceTrade Brand may be different.

  • 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 3 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 the ChoiceTrade trading platform 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 January 15, 2021.

ChoiceTrade review
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 12 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 review
ChoiceTrade not quite right?

If after reading this ChoiceTrade review, ChoiceTrade does not fulfill your needs check out these ChoiceTrade Alternatives.

Click here to view the best 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.

ChoiceTrade review
Related ChoiceTrade Vs Comparisons

We have covered allot in this ChoiceTrade review, If you want to see how ChoiceTrade compares side by side with other brokers check out our ChoiceTrade Vs pages.

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 our indepth ChoiceTrade VS pages below.

ChoiceTrade review
CHOICETRADE Frequently Asked Questions

Can I try ChoiceTrade before I buy?

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

What funding methods do ChoiceTrade accept?

Please note that the list of payment methods below depend on the ChoiceTrade Entity and the Clients Country of Residence.

ChoiceTrade offer the following funding payment methods Credit cards, Debit Cards, Bank Transfer, 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?

ChoiceTrade is considered good and reputable to trade with ChoiceTrade. ChoiceTrade is used by over 10,000 active traders and ChoiceTrade users. ChoiceTrade offers Forex trading, CFD trading, Spread Betting trading, Social trading, and Share Dealing trading. Minimum deposit with ChoiceTrade is 250.

Is ChoiceTrade trading Legit?

ChoiceTrade was founded in United States in 2009. ChoiceTrade has been facilitating trade on the financial markets for over 12 years. ChoiceTrade offers clients Forex trading, CFD trading, Spread Betting trading, Social 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 overseen by the top tier financial regulators Unregulated so can be considered a good broker. ChoiceTrade allows Forex trading, CFD trading, Spread Betting trading, Social 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 a fee for inactive accounts. ChoiceTrade does charge deposit fees.

When was ChoiceTrade founded?

ChoiceTrade was founded in 2009.

How many people use ChoiceTrade?

ChoiceTrade is used by over 10,000 registered ChoiceTrade users.

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. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

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 ChoiceTrade users and 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?

Please note that funding methods available with ChoiceTrade can be found in the ChoiceTrade Members area and depend on the ChoiceTrade client’s country of residence. Please check your specific available payment methods on the ChoiceTrade website. ChoiceTrade accept the following funding methods : Credit cards, Debit Cards, Bank Transfer.

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