Comparing brokers side by side is no easy task. For our 2017 Broker Review, we assessed 16 brokers on 308 different variables to find the best online broker
. Yielding a database of over 5,000 data points, let's compare ChoiceTrade 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. ChoiceTrade and SogoTrade charge the same amount for regular stock trades, $5. For options trading, both ChoiceTrade and SogoTrade charge the same base fee of $5. Option contracts at both of the brokerages are the same at $0.50 each. 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. Both ChoiceTrade and SogoTrade support Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, SogoTrade boasts an offering of 12222 mutual funds compared to ChoiceTrade's 500 available funds. Commission free ETFs can also be valuable for customers, which in this case means trading a possible 0 commission free ETFs at both brokers.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. ChoiceTrade alongside SogoTrade offer virtual trading. Taking a look at mobile trading, SogoTrade offers the iPhone App, iPad App and Android App while ChoiceTrade offers the none of these. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Unfortunately, Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are not available at ChoiceTrade or SogoTrade . On the whole, when it comes to tools, research, and mobile trading, unfortunately, neither ChoiceTrade nor SogoTrade received awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, SogoTrade comes out on top with 3.00 stars over ChoiceTrade's 2.00 stars.