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ChoiceTrade versus Just2trade review: compare low commission online brokerage firms
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- Stocks and ETFs: $5
- Options: $5 plus $0.55 per contract
- Direct Access trading: $0.005 per share, $1 minimum per trade
- Mutual funds: $25 per trade
- Investment products: stocks, options, mutual funds, ETFs
- Minimum to open account: $0 for cash account, 2,000 for margin account
- All Choicetrade fees
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- Stocks and ETFs: $2.50 (with surcharge for extended hours trading)
- Options: $2.50 plus $0.50 per contract
- Mutual funds: $2.50
- Investment products: stocks, options, mutual funds, bonds and fixed income securities, ETFs
- Minimum to open account: $2,500
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- Very low commissions and fees
- No account minimum or inactivity fees
- No extra charges for large-sized orders or stocks below $1
- Direct access trading with lowest commissions
- Free paper/virtual trading
- Investor community
- Very good customer service
- Powerful trading tools
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- Very low commissions
- Low margin rates
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- High mutual fund commissions
- Extended hours stock trades $0.005 per share surcharge
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- An additional cost of $0.003 per share is incurred to trade on the ECN during the extended-hours
sessions – from 7-9:30AM EST pre-market and 4-8PM EST after hours
- $25 IRA setup fee, $75 IRA closing fee and $35 annual fee for IRA accounts (if below $25,000 in assets)
- Cannot modify an order: must cancel an order to change it and resubmit it as a new order
- Very poor customer service (company encourages contact by email)
- Incorrect cash balances and other account balance discrepancies
- Options Exercise / Assignment fee: $20 per exercise or assignment
- Checking & VISA Debit Card fees: $100 (Gold Package); $125 (Platinum Package)
- Minimum $2,500 account balance requirement
- No support for beginner or novice investors
- Very basic trading platform
- Poor choice of mutual funds
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ChoiceTrade or Just2trade: Comparison Summary
Just2trade
offers better trading costs than
ChoiceTrade.
Both firms have a surcharge on after-hours trading which makes these trades very expensive.
Choicetrade does not have IRA setup and annual IRA fees. Just2trade charges both of these. Choicetrade offers
very good customer service. At Just2trade it's very hard to get somebody on the phone and the company encourages
customers to email them when questions and issues arise.
Both companies offer great trading tools. Choicetrade provides a helpful investor community and free virtual trading.
These features are not only great for beginner investors,
which they could use to learn trading and interact with others in the community, but also for experienced traders for
testing new strategies and connecting with other pros in the field.
ChoiceTrade is by far better brokerage firm for any type of account. We strongly recommend it over Just2Trade.
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