ChoiceTrade: Platform Profile
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Overview
ChoiceTrade is a low-cost online brokerage with active-trading tools, options, margin, fractional shares, conventional IRAs, and API/white-label infrastructure.
The biggest current infrastructure change is clearing.
Current BrokerCheck shows fully disclosed clearing relationships with:
- Alpaca Securities LLC, effective March 12, 2026;
- Velox Clearing LLC, in place since 2019.
May fit better for
- investors seeking $0 eligible stock and ETF commissions;
- options traders;
- margin users who understand benchmark-linked rates;
- traders using DAS Trader;
- investors who want conventional IRAs;
- developers or businesses evaluating API/white-label access.
May fit less well for
- infrequent investors who can trigger inactivity fees;
- investors who want a large branch network;
- investors seeking direct crypto;
- investors seeking futures;
- users who want one universal clearing firm;
- investors who assume every U.S. equity order receives $0 pricing.
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Current broker
Current FINRA BrokerCheck:
- Legal name: LETSGOTRADE, INC.
- DBA: ChoiceTrade
- CRD: 104021
- SEC number: 8-52511
- FINRA member: Yes
- SIPC member: Yes
Use ChoiceTrade as the consumer brand.
Use LETSGOTRADE, INC. as the legal broker.
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Current clearing — mandatory 2026
Current BrokerCheck:
- Fully disclosed clearing:
- Firm: Alpaca Securities LLC
- Effective: 2026-03-12
- Firm: Velox Clearing LLC
- Effective: 2019-05-24
Account structure and services can determine which relationship applies.
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Current cash-account minimum
Current pricing:
- Cash account minimum: $100
Margin accounts have separate regulatory and house-equity requirements.
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Eligible equity pricing
Current ChoiceTrade schedule:
- NYSE Nasdaq AMEX stock and ETF online commission:
- Condition: eligible trades in securities priced at $1 or more
- Price: $0
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Extended-hours and day-trading equity pricing
Current schedule:
- Day Ext surcharge: $0.005/share
- Day trading commission: $0.002/share
Other U.S. stock transactions can use separate schedules.
Current "all other U.S. stock trades" disclosures show:
- Up to 10000 shares: $25/trade
- Above 10000 shares: $25 + $0.002/share over threshold
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Options
Current pricing:
- Option contract fee: $0.40/contract
- Maximum legs per trade: 4
- Exercise assignment fee: $5
- Cash settled index option surcharge: $0.75/contract
Cash-settled surcharge can apply to products including SPX, OEX, RUT, and VIX under current pricing.
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Margin
Current margin formula:
- Margin rate: Federal Funds rate + 6 percentage points
- Minimum margin equity: $2,000
The actual rate changes with the benchmark.
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IRA accounts
Current forms support:
- Traditional IRA: Yes
- Roth IRA: Yes
- SEP IRA: Yes
These are conventional securities brokerage IRAs.
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Current transfer and banking fees
Current pricing disclosures show:
- Domestic outgoing wire: $35
- International outgoing wire: $60
- Outgoing ACH: $5
- Outgoing ACAT full: $100
- Outgoing ACAT partial: $35
- Rejected receiving broker: $35
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Inactivity fees
Current individual/joint inactivity:
- Inactivity fee: $55/quarter
- Waiver: 5 or more qualifying trades
- Fractional trades count for waiver: No
Current entity-account inactivity:
- Entity inactivity fee: $65/month
- Waiver: 5 or more qualifying trades
These fees make activity level economically important.
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Broker-assisted trading
Current pricing:
- Broker assisted surcharge: $30/trade
Applicable base trading charges can still apply.
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Platforms
Current platform offerings include:
- Web platform: Yes
- Real time quotes on web: Yes
- Quotestream:
- Monthly: $14.95
- Quotestream Pro:
- Monthly: $24.95
- ChoiceTrade Elite:
- Equity commission: $0.002/share
- DAS Trader:
- Standard equity: $0.003/share
- High volume: $0.001/share above stated volume conditions
Routing, exchange, regulatory, and data costs can be additional.
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API / white label
Current ChoiceTrade business pages:
- API access: Yes
- White label infrastructure: Yes
The consumer review can mention this as a platform feature.
Assessment
ChoiceTrade's headline $0 equity price is only the beginning of the fee analysis.
Options remain $0.40 per contract, margin is benchmark-linked, and inactivity can cost $55 per quarter for qualifying individual/joint accounts.
The 2026 infrastructure update is just as important:
ChoiceTrade currently uses both Alpaca Securities and Velox Clearing under its disclosed clearing relationships.
A review that names only Velox is stale.