Why choose ChoiceTrade? Latest Features and Pricing

ChoiceTrade coming up with Zero-commission Option Trades and a Scheme of Free Quote Streamer

ChoiceTrade – Introduction

ChoiceTrade is a registered broker that offers trading in financial market instruments including securities and options at reasonable costs, through an online platform. The broker is a member of Nasdaq, NYSE Arca and SIPC. Let’s have a look at its recently declared new program called as Zero-commission Option Trades.

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Zero-commission Option Trades

Widening its option trading ability, ChoiceTrade will introduce a novel program called Zero-commission Options in October. It will provide the facility to sell or buy in equity and ETF options for zero commission during options expiration week. Only eligible traders will be able to access the Zero Commission Option promotion. This includes those, who trade in the U.S. equity or ETF options during option expiration week. The week will expire on Friday and the expiration week will be the week before the third Saturday of every month.

Limitations and Characteristics of the Program

You can engage with Zero-commission option trading once a month and for one week during options expiration week.
There are only single-leg and multi-leg trades.
Index options are not applicable for Zero commission rate. They will be priced at the normal options commission of $5 per trade, with an additional $0.55 for each contract.
During expiration week, with zero commission, a trader can buy or sell maximum 500 contracts, every month. After this stipulated threshold, normal commission charges will be applied.
Program includes trading only in equity and ETF options.
No other special scheme will be offered with commission-free offer.
The special pricing can be altered at ChoiceTrade’s will.
Assignment and exercise charges are additional.
Only qualified account holders can access o the program.

Other Facts

Zero-commission program applies only to trading option

The program doesn’t incorporate trading in stocks; only options’ trading is eligible.

Conditions for the Unapproved Accounts for Options Trading

For those traders, whose accounts have not been endorsed can fax or email their completed Options Agreement form to ChoiceTrade for appraisal, so that the company can evaluate the same on certain parameters.

Program includes both single-leg and multi-leg option trades

Both single-leg and multi-leg option trades are the part of the zero-commission program and one can trade up to a total of 500 contracts during options expiration week.

Up to 500 Contracts are subjected to zero commission in a month

Only the first 500 contracts are eligible for zero commission. After that, the regular commission charges will be applicable, for which the commission rate is $5 per trade, with an additional per contract rate of $0.55.

For Regular Options you can close or open a position anytime in the week

During the regular options expiration week, you may execute opening or closing position according to your choice.

Scheme of a Free Quote Streamer by ChoiceTrade

Any customer, who will engage into at least five trades a month, he/she will be awarded with a ChoiceStreamer, as announced by the company. It is an advanced portfolio management solution that would help in supplying timely information about the market to the trader. With the help of this easy to use service, you can keep an eye on your investments online, along with the news from the research company and SEC filings. It offers charts, intra-day, historical data of stocks and live video broadcasts.