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 4,000 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. SogoTrade, with its regular stock trades costing $4.88, is more expensive than Charles Schwab's rate of $0 per trade. For options trading, SogoTrade has a base fee of $4.88, and Charles Schwab a base fee of $0. Each option contract then costs $0.65 at Charles Schwab and $0.50 at SogoTrade. 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 offers its clients access to 11784 different mutual funds while Charles Schwab has 5846 available funds, a difference of 5,938.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. SogoTrade makes virtual trading available to clients, while Charles Schwab does not. Taking a look at mobile trading, Charles Schwab and SogoTrade both have a 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. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Charles Schwab while SogoTrade offers none of these.
Overall, between Charles Schwab and SogoTrade, Charles Schwab is the winner.
Charles Schwab Review