ChoiceTrade $75 New Account Promotion

ChoiceTrade is an online discount broker which I first discussed in April when I compared commissions charged by discount brokers. Currently at $5 per stock trade with no limit on the size of the order, ChoiceTrade’s commission is almost at the same level as what TradeKing charges at $4.95 for stock trades, but significantly higher than the commission at OptionsHous and SogoTrade, which is now at $2.95 and $3.00, respectively. Trading options with ChoiceTrade also seems a little expensive at $0.99 per contract, compared to $0.65/contract at TradeKing.

I am using ChoiceTrade, so I don’t know what other features the broker offers. If you are interested in getting an account with ChoiceTrade, you can take advantage of a promotional offer which will give you $75 bonus if you open an account with $2,000 deposit and make a trade before January 5, 2010. The promotion code for this bonus offer is YE75CT. IRA account is not eligible for the promotion (ChoiceTrade charges $30 annual custodial fee for IRA accounts) and you must maintain a minimum account value of $75 in the account for 6 months.