ChoiceTrade Review – Can ChoiceTrade Help You Trade Options Affordably?
Options trading is a unique form of trading that has become very popular in the recent times. When you look at it at first, it seems as though it is just another name for you to trade stocks. However, when you look closely you realize that the risks are much smaller in options trading. This is the reason so many new traders prefer options trading over traditional stock trading. To benefit from options trading, you have to sign up with the right options broker. Yes, you have brokers that provide you the options trading services specifically. The choice of the broker is extremely important for you in your options trading career.
One of the best options in the world of options trading is ChoiceTrade. This broker has proven over the course of time that it cares about its trades and wants to give them the best. What makes ChoiceTrade one of the best options broker on the internet today can be found out in this review.
Why ChoiceTrade Is the Intelligent Choice for Options Trading
You Can Make Big Profits
As sad and disappointing as it may sound, you will not always be able to make a lot of money from options trading if you choose the wrong broker. Some brokers out there are only busy in making their money. They will charge you huge commissions on your trades and in the end, you are the one whose profits are shrunken. The bigger problem is that most of the new traders are not able to realize how they are being charged a huge commission. You look at the surface and think that you are saving money. When you do the calculation, you find out that you are paying a lot of money on every trade.
So, when you sign up with ChoiceTrade, you are going to trade options on the contract basis. On each contract you will be paying the broker a commission of $0.15 and a $5 on top. The $5 part might sound big to some traders but it is not. You are paying that small amount on your trade. In addition to that, there will be a $0.15 charge on your contract. When you compare that pricing to the pricing of other major options brokers on the internet you realize that ChoiceTrade is providing you the maximum value for the money you invest with it.
Since you are paying small commissions on your trades, you are going to get a big return for your trades. You must not forget that the size of your trade can increase or decrease. You are not going to trade just one contract per trade. The minimum limit of the contract size is provided by your broker. Based on the per contract pricing, you will notice that the bigger the contract the more price you pay to other brokers. That’s because most of them have their per contract pricing hiked up. They might not charge you as much on the basis of your trade but you can’t trade a hundred times in a day.
You Can Start with Ease
Trading comes later. The first thing you have to worry about is opening an account with the broker in the first place. Is your broker making it easy for you to open an account and maintain it? How can a broker control this particular factor? When you join a broker’s platform, it is the broker who tells you how much money you have to deposit in your account to trade in the real financial markets. Unless you maintain that minimum balance in your account, you don’t get access to any assets and securities. When you trade with ChoiceTrade, you will have to deposit only $100 to activate your trading account.
You Can Trade Many Types of Assets
Before talking about the diversification of the investment portfolio, it is important for you to understand the basics of how options trading works. The first thing you have to know about this type of trading is that it is derivative trading. At no point when you open or close your position do you own the asset. You are not going to own the asset in this type of trading, and that’s another reason why it is different from stocks trading. All you have to do is buy a call or put option. With one of these options, you have the right to buy back or sell the asset at a specified price during a given time.
If your asset hits the strike price during the given time, you will exercise your right and buy or sell the asset. From this, you should know that you can buy or sell just about any asset because all you have is an options contract. You can trade stocks, commodities, ETFs, and many other types of financial instruments within options trading. This allows you to invest your money in a variety of assets and securities, hence the diversification of your portfolio. You can make some seriously big profits if you trade a lot of contracts actively during the day.
Another important thing to know here is that trading platform that you will be using for options trading. Since you can trade many different types of assets and contracts in options trading, you can do it all from the same platform. You don’t have to change your platforms just because you want to stop trading US stocks and move on to some commodities.
You Can Trade from Anywhere
Mobility and portability are two of the most crucial concepts in the world today. That’s because the modern technology revolves around these aspects. You won’t really feel like downloading a trading platform if you can only use it on a personal computer. What if you don’t use a personal computer like millions of other people in the world? There is no doubt that the world has moved to portable devices like smartphone and tablets. You can trade from your personal computer, but ChoiceTrade also gives you the option to trade from your mobile devices.
A huge population of the traders is under the impression that the experience of trading on a mobile platform is completely different from that of trading on a desktop computer. In most cases, they believe the experience is inferior on the mobile devices. With ChoiceTrade, you will not have to face any such problem. The broker has ensured to move its trading tools along with the trading platform to all the mobile operating systems and devices. Whether you want expert analysis, detailed charts or other tools to help you with your trading career, you will get it all on the device you are using.
You Trade in Real Time
Some of the online brokers that target an audience of new traders choose to not talk about the important matters. They talk about other less important things and try to distract the new traders from asking the right questions. So, they will tell you all the amazing things about the trading platform you will be on. However, they will not talk about the speed of our order execution. You might not know as a new trader but your trades can end up completely opposite to what you expect because of the delays in your order.
Options trading is all about making profits quickly. You don’t want to hold on to the contracts for a long time when you are trading options. You have to take advantage of the small price movements. However, you can end up losing instead of winning if the broker delays your order and executes it when the prices are different from what you had seen on your screen. You have ChoiceTrade talking about this matter on its website. The broker also ensures that your orders will be executed within seconds without any errors in them. No shocks for you when you trade with ChoiceTrade.
You Get Admirable Customer Support
You have plenty of options to get in touch with the company when you need help. You can find a contact form right on the website in which you can provide the details of your issue and forward to the company. You also have an email address on the website that you can use to send your inquiries to ChoiceTrade. The best thing is that you have many different numbers available on the website to contact the company for different issues. The phone number for opening a new account is completely separate. You can contact the company five days a week during the normal working hours.
Options trading has proven to be one of the fastest ways to make money for new traders. New traders from around the world like the fact that they can make money quite quickly through this type of trading. Even more important is that options trading is quite a simple way of trading with very few complexities involved. The only issue that new traders face is when they have to pay a huge price for every trade because the broker is making too much money. With ChoiceTrade, you can take home the big part of your profit on your trades because of the small commissions.