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 Charles Schwab vs SogoTrade. Is Charles Schwab or SogoTrade a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Charles Schwab, with its regular stock trades costing $4.95, is more expensive than SogoTrade's rate of $4.88 per trade. Looking at trading options, SogoTrade's base fee is $4.88 while Charles Schwab's is $4.95. Option contracts are pricier at Charles Schwab, costing $0.65 versus $0.50 at SogoTrade. 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 supports Stock Trading, Options Trading and Mutual Funds while Charles Schwab supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, SogoTrade boasts an offering of 13360 mutual funds compared to Charles Schwab's 5509 available funds. Commission free ETFs can also be a nice plus, with SogoTrade falling behind Charles Schwab, offering 0 commission free ETFs compared to Charles Schwab's 244.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. SogoTrade makes virtual trading available to clients, while Charles Schwab does not. For mobile trading, Both Charles Schwab and SogoTrade offer clients access to an 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 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 takes the upper hand with 4.50 stars over SogoTrade's 3.50 stars.