Using data from the StockBrokers.com 2017 Broker Review which tested 16 different online brokers
over six months, we can compare Charles Schwab vs SogoTrade to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing stock and options trades. SogoTrade charges $5.00 per stock trade which is $0.05 more than Charles Schwab which charges customers $4.95 per trade. With options, the base fees charged are $5.00 (SogoTrade) and $4.95 (Charles Schwab). Each option contract then costs $0.65 at Charles Schwab and $0.50 at SogoTrade. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews
Next, investors want to make sure they can trade the investment vehicle they want. SogoTrade supports Stock Trading, Options Trading and Mutual Funds while Charles Schwab supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, Charles Schwab trails SogoTrade by 7,057 total mutual funds, with SogoTrade offering 12222 and Charles Schwab offering 5165. And, commission free ETFs deserve a comparison, with Charles Schwab having the upper hand thanks to its 229 available commission free ETFs compared to SogoTrade's offering of 0.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. SogoTrade offers virtual trading while Charles Schwab does not. For mobile trading, Charles Schwab and SogoTrade both have a iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are available to clients of Charles Schwab while SogoTrade offers customers none of these. All factors considered, when it comes to platform tools, research, and mobile trading, Charles Schwab was rated Best in Class - Platforms & Tools and Best in Class - Research in 2017, while SogoTrade was rated none of these.
Overall, Charles Schwab takes the upper hand with 4.50 stars over SogoTrade's 3.00 stars.