Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker
. Yielding a database of over 5,000 data points, let's compare Charles Schwab vs SogoTrade.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Charles Schwab charges $4.95 per stock trade which is $0.07 more than SogoTrade which charges customers $4.88 per trade. Looking at trading options, SogoTrade's base fee is $4.88 while Charles Schwab's is $4.95. SogoTrade's per contract rate of $0.50 is less than Charles Schwab which charges $0.65. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review
Next to commission rates, being able to trade what you want is important. SogoTrade provides its clients with Stock Trading, Options Trading and Mutual Funds while Charles Schwab provides clients access to Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, SogoTrade boasts an offering of 13360 mutual funds compared to Charles Schwab's 5509 available funds. Commission free ETFs can also be valuable for customers, with Charles Schwab having the upper hand thanks to its 244 available commission free ETFs compared to SogoTrade's offering of 0.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. SogoTrade offers virtual trading while Charles Schwab does not. Taking a look at mobile trading, Charles Schwab along with SogoTrade both support the iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Clients can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans at Charles Schwab while customers at SogoTrade can have none of these. On the whole, when it comes to tools, research, and mobile trading, Charles Schwab was rated Best in Class - Platforms & Tools and Best in Class - Research, while SogoTrade was rated none of these.
Overall, Charles Schwab boasts 4.50 stars versus SogoTrade's 3.00 stars.