The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers. This review compares Ally Invest vs SogoTrade. Is Ally Invest or SogoTrade a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. SogoTrade, with its regular stock trades costing $4.88, is more expensive than Ally Invest's rate of $0 per trade. With options, the base fees charged are $4.88 (SogoTrade) and $0 (Ally Invest). Option contracts at both of the brokerages are the same at $0.50 each. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews.
For our next comparison of these two brokers, being able to trade the way you want is a must. SogoTrade offers clients Stock Trading, Options Trading and Mutual Funds while Ally Invest offers Stock Trading, Options Trading, Mutual Funds and Forex Trading. When it comes to mutual funds, SogoTrade trails Ally Invest by 12,126 total mutual funds, with Ally Invest offering 18728 and SogoTrade offering 6602.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. SogoTrade offers virtual trading while Ally Invest does not. For mobile trading, Ally Invest along with SogoTrade both support the iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Clients can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans at Ally Invest while customers at SogoTrade can have none of these.
Overall, between Ally Invest and SogoTrade, Ally Invest is the winner.
Ally Invest Review