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Trademonster vs ChoiceTrade
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Trademonster vs ChoiceTrade: Trading Fees and Investments
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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
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- Stocks and ETFs: $7.50
- Stocks and ETFs broker assisted: $22.50
- Options: $0.50 per contract (minimum $12.50 for single leg orders and $15 minimim per spread for multi-leg orders)
- Futures: $1.50 per contract
- Options on Futures: $1.50 per contract (excluding exchange fees, NFA fees, overnight and platform fees as applicable)
- Mutual Funds: $15 to buy, $0 to sell
- Bonds: $15 (Municipal, Corporate, Agency, Treasury)
- Investments: stocks, options, mutual funds, bonds, ETFs
- Minimum to open tradeMONSTER account: $2,000
- All tradeMONSTER 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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- Best margin rates
- Selling mutual funds is free
- No inactivity, account maintenance or hidden fees
- No-fee IRAs
- Free trading simulator (virtual trading)
- Lots of learning materials for beginner investors, including webinars
- Very good customer service
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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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- Additional 1.5 cents per share surcharge on extended hours trades
- Additional $0.0005 per share on the entire order for any stocks priced less than $1
- Trading tools could be a bit hard to master for beginners
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ChoiceTrade vs Trademonster: Comparison Summary
Choicetrade (Choicetrade Review)
offers lower stock and ETF commissions than
Trademonster (Trademonster Review): $5 versus $7.50 per trade.
Trademonster, however, is cheaper for mutual funds investing: $15 to buy, $0 to sell versus ChoiceTrade's $25 to buy/sell.
Both companies don't charge additional commission on large-size orders. Trademonster, however, has
1.5 cents surcharge for each share traded in extended hours trading and smaller surcharge on penny stocks.
Choicetrade charges 0.5 cent per share more on extended hours orders.
ChoiceTrade and Trademonster don't have account maintenance fees, inactivity fees and volume
requirements to get their low commissions (unlike some online brokers). Both firms are great for
anyone looking for Best IRA Accounts 2012.
Either one of these online brokerage houses is great for individual investors. Only because of lower commissions
we recommend ChoiceTrade over Trademonster. Mutual funds, buy-and-hold and retirement investors would be better off with Trademonster.
Make sure to also read consumer Brokerage Reviews.
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