Frequently Asked Questions
The fastest and easiest way to open an account with ChoiceTrade is to sign up online. You can also request a new account pack by email or download the required form directly from our website.
As a member of the Securities Investor Protection Corporation (SIPC), funds are available to meet customer claims up to a ceiling of $500,000, including a maximum of $250,000 for cash claims. For additional information regarding SIPC coverage, including a brochure, please contact SIPC at (202) 371-8300 or visit www.sipc.org. SIPC insurance does not protect or insure against market loss.
Cash Accounts: There is $100 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, and then maintain your account at or above that level. 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.
When we receive your completed application and the required initial minimum deposit, and we approve your account, we will send you an email letting you know that your account has been approved. You can also contact us by phone for any additional instructions.
There are many different ways to fund your account. Visit our Funding Page for information on the different options that we offer.
The ChoiceTrade Mobile Application is free for ChoiceTrade users. Trades are charged as applicable - see our commissions page.
Yes. Unless otherwise noted, brokerage commissions apply to all mobile trades
ChoiceTrade Mobile does not store your password or any other information on the device. Just like trading online, all communications are secured with high-level SSL encryption.
The ChoiceTrade Mobile Application is currently limited to accounts enabled for real-time quotes.
There is nothing to download! Simply point your mobile browser to m.choicetrade.com.
The ChoiceTrade Mobile Application is currently supported on all mobile devices, phones, and tablets that have browsers.
Yes! Streaming data is supported. If you have signed up for real-time data, then quotes will update in real-time; otherwise, they will be delayed.
Yes. ChoiceTrade Mobile supports multiple linked accounts. Log in with your parent account and access with child account(s).
In a cash account, you may generally buy up to the cash available in your account. In a margin account, you may generally buy (except for low-priced stocks) up to 2X the cash in your account. The difference between your purchase price and the cash available in your account is given to you in the form of a margin loan by our clearing firm, on which you pay interest for as long as you hold the position. Further, in a margin account, if you buy and sell within two business days, your sales proceeds are immediately available for a new purchase. In a cash account, you have to wait until the sale settles for funds to become available.
Yes, you will need to have cleared funds in your account before you can place a buy order.
The fastest and easiest way to open an account with ChoiceTrade is to sign up online https://application.choicetrade.com
Yes, you can download the official ChoiceTrade trading application from the Apple App and Google Play Stores for your phone or tablet. We also offer a mobile trading website (https://m.choicetrade.com) that work in your phone or tablet browser.
The ChoiceTrade mobile apps are free for ChoiceTrade users. Trades are charged as applicable - see our commissions page.
Yes. Unless otherwise noted, brokerage commissions apply to all mobile trades.
Just like trading online, all communications are secured with high-level SSL encryption. In addition, you can use biometric security to better secure your login.
The ChoiceTrade app is currently supported on all Apple and Android mobile devices. In addition, our mobile website is available to any device with a web brower.
Yes. The ChoiceTrade app supports multiple linked accounts. Login with your parent account and accessed with child account(s).
To receive real-time quotes on the app and mobile site, you must first subscribe to real-time quotes on the regular trading site on your computer. Once this is done, if you are still getting delayed quotes on the mobile site, please make sure that your mobile browser is set to ALWAYS accept cookies. Then clear your mobile browser's cookies and cache and log in again.