BrokAIr Reviews

ChoiceTrade Review

"ChoiceTrade has been an incredibly successful online brokerage, but it could be argued that it is too successful- why is ChoiceTrade dominating the online brokerage industry?"

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Overview of ChoiceTrade

ChoiceTrade is an online brokerage founded in 2000 to provide comprehensive trading services for the individual investor. Since then, it has grown to become one of the most popular and respected brokerages, offering a wide range of services including stocks, options, and futures. ChoiceTrade also provides research, analysis, and education services to its clients.

Pros

Cons

Founders

ChoiceTrade was founded by Bill Anderson and Manu Kothari in 2000. Anderson had previously worked as a broker at several large financial institutions, while Kothari had an extensive background in software development and finance. Together, they created a brokerage that offered low commission fees, direct access to the market, and a wide range of trading options.

Public Opinion

Overall, ChoiceTrade has a positive reputation among its clients. Many customers praise its low commission fees, quality customer service, and comprehensive research capabilities. Some clients have also expressed disappointment with the lack of mobile trading app and international trading options.

Newsworthy Events

In 2017, ChoiceTrade was acquired by TradeKing Group Inc., a leading online brokerage. This acquisition allowed ChoiceTrade to offer even more comprehensive services to its customers. In 2018, ChoiceTrade became a member of the Financial Industry Regulatory Authority (FINRA), which is responsible for regulating the securities industry in the United States. As a FINRA member, ChoiceTrade is subject to rigorous standards for customer protection, capital requirements, and best practices.