- يوليو 12, 2021
- Posted by: ForexTradeOn
- Category: Choice Trade forex
Introduction
Choice Trade is one of the US-based brokers that was founded in 2000. It’s regulated by top-tier financial authorities and is also a member of SIPC that protects assets up to $500,000 (cash up to $250,000). Choice Trade also has over 10,000 clients worldwide. Choice Trade’s main trading products are stocks, options, and ETFs with a minimum deposit of only $100. Choice Trade is also available on different platforms like web, desktop, and mobile to provide the best trading experience on the go
Choice Trade works on different platforms including web, desktop, and mobile platforms. We will dig deeper into each one of them in detail.
Web Trading Application
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Pros |
Cons |
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Languages
Choice Trade Web trading application is available in more than 100 languages including major languages like Arabic, English, and German.
Choice Trade – Web Trading Application – Languages
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Afrikaans |
Albanian |
Amharic |
Arabic |
Armenian |
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Azerbaijani |
Basque |
Belarusian |
Bengali |
Bosnian |
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Bulgarian |
Catalan |
Cebuano |
Chichewa |
Chinese (Simplified) |
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Chinese (Traditional) |
Corsican |
Croatian |
Czech |
Danish |
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Dutch |
Esperanto |
Estonian |
Filipino |
Finnish |
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French |
Frisian |
Galician |
Georgian |
German |
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Greek |
Gujarati |
Haitian Creole |
Hausa |
Hawaiian |
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Hebrew |
Hindi |
Hmong |
Hungarian |
Icelandic |
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Igbo |
Indonesian |
Irish |
Italian |
Japanese |
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Javanese |
Kannada |
Kazakh |
Khmer |
Kinyarwanda |
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Korean |
Kurdish (Kurmanji) |
Kyrgyz |
Lao |
Latin |
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Latvian |
Lithuanian |
Luxembourgish |
Macedonian |
Malagasy |
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Malay |
Malayalam |
Maltese |
Maori |
Marathi |
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Mongolian |
Myanmar (Burmese) |
Nepali |
Norwegian |
Odia (Oriya) |
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Pashto |
Persian |
Polish |
Portuguese |
Punjabi |
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Romanian |
Russian |
Samoan |
Scots Gaelic |
Serbian |
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Sesotho |
Shona |
Sindhi |
Sinhala |
Slovak |
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Slovenian |
Somali |
Spanish |
Sundanese |
Swahili |
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Swedish |
Tajik |
Tamil |
Tatar |
Telugu |
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Thai |
Turkish |
Turkmen |
Ukrainian |
Urdu |
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Uyghur |
Uzbek |
Vietnamese |
Welsh |
Xhosa |
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Yiddish |
Yoruba |
Zulu |
User interface (UI)
The User Interface looks clean and easy to use. Although there are limited functions and options, it’s very clear and easy to use.
Choice Trade – Web Trading Application – UI
Login and Security
A two-step verification method is provided in the web trading application which is much safer than the usual username and password login.
Choice Trade – Web Trading Application – Login
Searching
The searching function within the platform is very traditional. It works fine by entering the asset name when searching for it, but you can’t search by category.
Choice Trade – Web Trading Application – Search
Placing orders
There are various types of orders at application:
- Market
- Limit
- Stop
- Trailing stop
- MOC
- LOC
- MOO
- LOO
In addition to those types, there’s another order: GTC.
Choice Trade – Web Trading Application – Place Order
Notifications and alerts
Unfortunately, the web trading application does not provide notification or alert options within the platform.
Portfolio and reports
The trading platform also provides clear portfolio and fee reports.
Choice Trade Elite Trading Platform
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Pros |
Cons |
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The Choice Trade Elite trading platform has the same functionalities as the web trading application, but with more options like charting, summaries, and more. Other than that, it has the same login window, searching function, and order types. The only negative part is that it’s only available in English.
Choice Trade – Choice Trade Elite – UI
Choice Trade Mobile Application
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Pros |
Cons |
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Languages
The mobile trading application of Choice Trade is only available in English.
User interface (UI)
The UI looks clean and has a responsive design as well as seamless navigation.
Choice Trade – Choice Trade Mobile Application – UI
Login and security
The mobile trading application has a two-step verification method as well as the Touch ID verification for more security.
Choice Trade – Choice Trade Mobile Application – Login
Searching
The searching function is reliable when you type the asset name, but you can’t search by category.
Choice Trade – Choice Trade Mobile Application – Search
Placing orders
The mobile trading application has the same orders as the web and desktop application which are:
- Market
- Limit
- Stop
- Trailing stop
- MOC
- LOC
- MOO
- LOO
In addition to those types, there’s another order: GTC.
Choice Trade – Choice Trade Mobile Application – Place Order
Notifications and alerts
Unfortunately, the mobile trading application does not provide notification or alerts options.
4. FAQs
- How long does it take to verify my account?
- It takes about 2 to 3 business days to verify your Choice Trade account.
- What’s the margin account?
- A margin account allows you to increase the purchasing power in your account by borrowing against cash or marginable securities that you hold in the account. The extension of credit in a margin account, and associated fees, are governed by terms in the Penson Customer Margin and Short Account Agreement and relevant sections in the ChoiceTrade Customer Agreement.
- Can I open more than one trading account?
- Yes, you can.
- Does Choice Trade give a bonus?
- No, it doesn’t.
- Does Choice Trade allow scalping and hedging?
- Yes, it does allow both of them.
- Does Choice Trade provide a swap-free account option?
- No, it doesn’t.
- When trading forex, will you lose more than your initial deposit?
- Yes, as Choice Trade doesn’t provide negative balance protection on your money.
- Can I log in to more than one account from the same computer?
- Yes, you can do such a thing through Choice Trade available platforms.
- Can I log in to the same account through different devices?
- Yes, you can.
- Does Choice Trade accept payments from third parties?
- No, payments should be from an account that holds your name and only your name.