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ChoiceTrade versus Just2trade review: compare low commission online brokerage firms 2012
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- Stocks and ETFs (not direct access): $5 per trade
- Stocks and ETFs (direct access): $0.005 per share, $1 minimum per trade
- Stocks and ETFs (broker-assisted): $30 per trade
- Options: $5 plus $0.15 per contract
- Mutual funds: $25 per trade
- Investment products: stocks, options, mutual funds, Forex, ETFs
- Minimum to open Choicetrade account: $0 for cash account, 2,000 for margin account
- All Choicetrade fees
- Choicetrade promotional code
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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 Just2trade account: $2,500
- All Just2trade fees
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- Direct access trading with lowest per share commissions
- Very low flat-rate commissions
- Powerful trading platforms
- No account minimum, maintenance or inactivity fees
- Free paper trading
- Investor community
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- Very low commissions
- Free real-time level 1 and 2 quotes
- Free Morningstar research
- Free dividend reinvestment including fractional shares
- Low margin rates
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- While web-based trading platform with delayed quotes is free, more advanced platforms and streaming quotes are not: web-based Choicestreamer is $14.95/month,
ChoiceTrader Direct pro is $49/month, Choicetrader Select with eSignal is $126/month
- Extended hours stock trades have $0.005 per share surcharge
- 1% surcharge of the total dollar value of the order in addition to the normal commission of $5 per trade to all stock orders of more than 500,000 shares
- High mutual fund commissions
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- Wrong cash balances and other account balance discrepancies (!)
- An additional $0.003 per share 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)
- For customer service company encourages contact by email
- Options Exercise / Assignment fee: $20 per exercise or assignment
- Checking & VISA Debit Card fees: $50 (Gold Package); $75 (Platinum Package)
- Minimum $2,500 account balance requirement
- No support for beginner or novice investors
- Poor choice of mutual funds
- Open orders are getting randomly canceled
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ChoiceTrade or Just2trade: Comparison Summary
Just2Trade (Just2Trade Review)
offers better trading costs than
ChoiceTrade (ChoiceTrade Review).
Both firms have a surcharge on extended hours trading which makes these trades very expensive.
Just2trade charges a lot of IRA fees. Choicetrade does not have IRA setup and annual IRA fees, but it did not make it into our
Best IRA Accounts 2012 list, where one could find
Optionshouse,
OptionsXpress (OptionsXpress Review) and
Scottrade (Scottrade Review).
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 brokerage firms 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. Make sure to also check out our
Best brokerage accounts recommendations.
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