Choice Trade Platforms | How Choice Trade Platforms Work

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

Pros

Cons

  • User-friendly UI
  • Two-factor authentication
  • Various order types
  • Clear portfolio and fee report
  • Available in a variety of languages
  • No notifications or alerts

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

Afrikaans

Albanian

Amharic

Arabic

Armenian

Azerbaijani

Basque

Belarusian

Bengali

Bosnian

Bulgarian

Catalan

Cebuano

Chichewa

Chinese (Simplified)

Chinese (Traditional)

Corsican

Croatian

Czech

Danish

Dutch

Esperanto

Estonian

Filipino

Finnish

French

Frisian

Galician

Georgian

German

Greek

Gujarati

Haitian Creole

Hausa

Hawaiian

Hebrew

Hindi

Hmong

Hungarian

Icelandic

Igbo

Indonesian

Irish

Italian

Japanese

Javanese

Kannada

Kazakh

Khmer

Kinyarwanda

Korean

Kurdish (Kurmanji)

Kyrgyz

Lao

Latin

Latvian

Lithuanian

Luxembourgish

Macedonian

Malagasy

Malay

Malayalam

Maltese

Maori

Marathi

Mongolian

Myanmar (Burmese)

Nepali

Norwegian

Odia (Oriya)

Pashto

Persian

Polish

Portuguese

Punjabi

Romanian

Russian

Samoan

Scots Gaelic

Serbian

Sesotho

Shona

Sindhi

Sinhala

Slovak

Slovenian

Somali

Spanish

Sundanese

Swahili

Swedish

Tajik

Tamil

Tatar

Telugu

Thai

Turkish

Turkmen

Ukrainian

Urdu

Uyghur

Uzbek

Vietnamese

Welsh

Xhosa

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 Platforms | How Choice Trade Platforms Work

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 Platforms | How Choice Trade Platforms Work

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 Platforms | How Choice Trade Platforms Work

Choice Trade – Web Trading Application – Search

Placing orders

There are various types of orders at application:

  1. Market
  2. Limit
  3. Stop
  4. Trailing stop
  5. MOC
  6. LOC
  7. MOO
  8. LOO

In addition to those types, there’s another order: GTC.

Choice Trade Platforms | How Choice Trade Platforms Work

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

Pros

Cons

  • Two-step verification
  • Good UI
  • Reliable searching function
  • Various order types
  • Only available in English
  • No notification or alerts

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 Platforms | How Choice Trade Platforms Work

Choice Trade – Choice Trade Elite – UI

Choice Trade Mobile Application

Pros

Cons

  • Clean UI
  • Two-step verification
  • Touch ID
  • Good search function
  • Various order types
  • Only available in English
  • No notification or price alerts

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 Platforms | How Choice Trade Platforms Work

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 Platforms | How Choice Trade Platforms Work

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 Platforms | How Choice Trade Platforms Work

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:

  1. Market
  2. Limit
  3. Stop
  4. Trailing stop
  5. MOC
  6. LOC
  7. MOO
  8. LOO

In addition to those types, there’s another order: GTC.

Choice Trade Platforms | How Choice Trade Platforms Work

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

  1. How long does it take to verify my account?
  • It takes about 2 to 3 business days to verify your Choice Trade account.
  1. 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.
  1. Can I open more than one trading account?
  • Yes, you can.
  1. Does Choice Trade give a bonus?
  • No, it doesn’t.
  1. Does Choice Trade allow scalping and hedging?
  • Yes, it does allow both of them.
  1. Does Choice Trade provide a swap-free account option?
  • No, it doesn’t.
  1. When trading forex, will you lose more than your initial deposit?
  • Yes, as Choice Trade doesn’t provide negative balance protection on your money.
  1. 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.
  1. Can I log in to the same account through different devices?
  • Yes, you can.
  1. Does Choice Trade accept payments from third parties?
  • No, payments should be from an account that holds your name and only your name.


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