The fastest and easiest way to open an account with ChoiceTrade is to apply online. You may also request a new account packet by mail or download the forms you need right from our website.

Cash Accounts: There is no minimum required to open a cash account.

Margin Accounts that do not engage in day trading: If you do not intend to engage in day trading, you may deposit as little as $2,000 initially.

Day Trading Accounts: There is a $25,000 initial minimum required to establish a ChoiceTrade account. In addition to the minimum, in order to open a ChoiceTrade account, your account must be approved as a margin account. After your account is established, a $25,000 minimum account balance will also be required. Accounts that fall below the required minimum will be subject to certain restrictions, and additional funds may be required. In addition to these requirements, it is strongly recommended, but not required, that you have at least one year of online trading experience and at least one month of live trading experience on a direct access platform before opening a ChoiceTrade account.

You may obtain information about SIPC, including the SIPC brochure, by contacting SIPC at www.sipc.org or 202-371-8300.

As a member of the Securities Investor Protection Corporation (SIPC) funds are available to meet customer claims up to a maximum of $500,000 in cash and securities with a $100,000 cash maximum. Additionally, our clearing firm holds excess insurance of $200,000,000 in the aggregate, over all customer accounts, subject to a maximum limit of $900,000 per Customer in respect to cash. This excess protection is in addition to the protection provided by the Securities and Investors Protection Act, which is administered by SIPC and is subject to certain conditions and limitations, details of which are available upon request. Note SIPC and excess coverage provide coverage against loss of securities and cash, not against market depreciation, fluctuation in market value of your securities or a trading loss.