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SogoTrade vs ChoiceTrade 2020

Is ChoiceTrade better than SogoTrade? After testing 15 of the best online brokers over five months, SogoTrade (66.13%) is better than ChoiceTrade (62.57%). SogoTrade is an online discount brokerage that charges $4.88 base commissions and supports Chinese-speaking customers. Unfortunately, in a world where $0 trades are the baseline, despite offering five trading platforms for stocks and options, SogoTrade struggles to stand out.

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Overall Rating

Feature SogoTrade ChoiceTrade
Overall 3.5 3
SogoTrade Review ChoiceTrade Review

Trading Fees

Feature SogoTrade ChoiceTrade
Minimum Deposit $500.00 $0.00
Stock Trade Fee (per trade) $4.88 $0.00
ETF Trade Fee $4.88 $0.00
Options Base Fee $4.88 $0.00
Options Per Contract Fee $0.50 $0.40
Mutual Fund Trade Fee $25.00 N/A
Broker Assisted Trades Fee $25.00 $30.00
Commissions & Fees 4 4.5
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Margin Rates

Feature SogoTrade ChoiceTrade
Under $24,999.99 9.25% 7.75%
$25,000.00 to $49,999.99 8.25% 7.75%
$50,000.00 to $99,999.99 7.25% 7.75%
$100,000.00 to $249,999.99 6.00% 7.75%
$250,000.00 to $499,999.99 5.50% 7.75%
$500,000.00 to $999,999.99 5.00% 8.25%
Above $1,000,000.00 4.50% 8.25%
Commissions & Fees 4 4.5
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Account Fees

Feature SogoTrade ChoiceTrade
IRA Annual Fee $35.00 $50.00
IRA Closure Fee $60.00 $50.00
Returned ACH Fee $30.00 $40.00
Returned Wire Fee $30.00 $40.00
Stock Certificate Processing Fee N/A N/A
Stock Certificate Delivery Fee N/A N/A
Paper Statement Fee $10.00 $5.00
Paper Confirmation Fee $5.00 $1.00
Domestic Wire Fee $25.00 $35.00
International Wire Fee $50.00 $60.00
Commissions & Fees 4 4.5

Investment Options

Feature SogoTrade ChoiceTrade
Stock Trading
Yes Yes
Fractional Shares
No No
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
No No
Forex Trading
No No
Commission-Free ETFs 0 All
Mutual Funds (No Load)
3432 0
Mutual Funds (Total)
6602 0
Bonds (US Treasury)
No No
Bonds (Corporate)
No No
Bonds (Municipal)
No No
Interest Sharing
No No
Advisor Services
No No
International Trading
No No
Offering of Investments 3 2.5
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Order Types

Feature SogoTrade ChoiceTrade
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
No Yes
Order Type - MultiContingent
No Yes
Order Type - OCO
No No
Order Type - OTO
No No
Order Type - OTOCO
No No
Offering of Investments 3 2.5
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Trading Platforms

Feature SogoTrade ChoiceTrade
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
No Yes
Web Platform
Yes Yes
Paper Trading
Yes Yes
Trade Journal
No No
Watch Lists - Total Fields
49 19
Heat Mapping
Yes Yes
AI Assistant Bot
No No
Platforms & Tools 3 3
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Charting Features

Feature SogoTrade ChoiceTrade
Charting - Trade Off Chart
No No
Charting - Indicators / Studies
52 42
Charting - Drawing Tools
12 4
Charting - Historical Trades
No Yes
Charting - Corporate Events
No Yes
Charting - Automated Analysis
No Yes
Charting - Save Profiles
No Yes
Charting - Study Customizations
4 2
Charting - Custom Studies
No No
Platforms & Tools 3 3
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Day Trading

Feature SogoTrade ChoiceTrade
Stock Alerts - Basic Fields
No No
Stock Alerts - Advanced Fields
No No
Streaming Time & Sales
Yes Yes
Streaming TV
No No
Direct Market Routing - Stocks
No No
Direct Market Routing - Options
No No
Ladder Trading
No No
Trade Hot Keys
No No
Level 2 Quotes - Stocks
No Yes
Level 2 Quotes - Options
No No
Trade Ideas - Backtesting
No Yes
Short Locator
No No
Order Liquidity Rebates
No No
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Mobile Trading Apps

Feature SogoTrade ChoiceTrade
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes No
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
No No
Trading - Mutual Funds
No No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes Yes
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Mobile App Features

Feature SogoTrade ChoiceTrade
Watch List Syncing
No Yes
Stock Alerts
No No
Charting - After Hours
No Yes
Charting - Drawing
No No
Charting - Study Customizations
No Yes
Heatmapping
No Yes
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 3.5 3.5
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Research Overview

Feature SogoTrade ChoiceTrade
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
No No
Research - Pink Sheets / OTCBB
No Yes
Research - Fixed Income
No Yes
Screener - Stocks
Yes No
Screener - ETFs
Yes No
Screener - Mutual Funds
No No
Screener - Options
No No
Screener - Bonds
No No
Misc - Portfolio Builder
Yes No
Misc - Portfolio Allocation
No No
Research 2.5 2
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Stock Research

Feature SogoTrade ChoiceTrade
Stock Research - Reports
1 0
Stock Research - Earnings
No Yes
Stock Research - Insiders
No Yes
Stock Research - Metric Comp
No No
Stock Research - SEC Filings
Yes Yes
Stock Research - Social
No No
Stock Research - Balance Sheet
Yes Yes
Stock Research - Cash Flows
No Yes
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 2.5 2
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ETF Research

Feature SogoTrade ChoiceTrade
ETFs - Strategy Overview
Yes Yes
ETFs - Top 10 Holdings
Yes No
ETFs - Sector Exposure
No No
ETFs - Risk Analysis
No No
ETFs - Performance Analysis
Yes No
ETFs - Ratings
No No
ETFs - Morningstar StyleMap
No No
ETFs - Reports
No No
Research 2.5 2
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Mutual Fund Research

Feature SogoTrade ChoiceTrade
Mutual Funds - Strategy Overview
No No
Mutual Funds - Prospectus
No No
Mutual Funds - Reports
No No
Mutual Funds - Fees Breakdown
No No
Mutual Funds - Top 10 Holdings
No No
Mutual Funds - Asset Allocation
No No
Mutual Funds - Sector Allocation
No No
Mutual Funds - Country Allocation
No No
Mutual Funds - StyleMap
No No
Mutual Funds - 3rd Party Ratings
No No
Research 2.5 2
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Options Trading

Feature SogoTrade ChoiceTrade
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
22 18
Option Chains - Greeks
5 4
Option Chains - Quick Analysis
Yes Yes
Option Analysis - P&L Charts
Yes Yes
Option Probability Analysis
Yes Yes
Option Probability Analysis Adv
Yes Yes
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
Yes Yes
Option Positions - Rolling
Yes Yes
Option Positions - Grouping
No Yes
Platforms & Tools 3 3
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Beginners

Feature SogoTrade ChoiceTrade
Education (Stocks)
Yes No
Education (ETFs)
No No
Education (Options)
Yes Yes
Education (Mutual Funds)
No No
Education (Fixed Income)
No No
Education (Retirement)
No No
Paper Trading
Yes Yes
Videos
No No
Webinars (Monthly Avg)
0 0
Webinars (Archived)
No No
Live Seminars
No No
Progress Tracking
No No
Interactive Learning - Quizzes
No No
Investor Magazine
No No
Education 2 1.5
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Banking

Feature SogoTrade ChoiceTrade
Retail Locations
0 0
Member FDIC
No No
Checking Accounts
No No
Savings Accounts
No No
Credit Cards
No No
Debit Cards
No No
Mortgage Loans
No No
No Fee Banking
No No
Banking 0.5 0.5

Overall

Feature SogoTrade ChoiceTrade
SogoTrade Review ChoiceTrade Review
Overall 3.5 3
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Comparing brokers side by side is no easy task. For our 2020 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare ChoiceTrade vs SogoTrade.

Is ChoiceTrade or SogoTrade better for beginners?
SogoTrade is better for beginner investors than ChoiceTrade. SogoTrade offers investors access to Paper Trading, Education (Stocks) and Education (Options).

What about ChoiceTrade vs SogoTrade pricing?
SogoTrade charges $4.88 per stock trade which is $4.88 more than ChoiceTrade which charges customers $0 per trade. For options trading, SogoTrade has a base fee of $4.88, and ChoiceTrade a base fee of $0. Each option contract then costs $0.50 at SogoTrade and $0.40 at ChoiceTrade. For a complete commissions summary, see our best discount brokers guide.

Does ChoiceTrade or SogoTrade offer a wider range of investment options?
SogoTrade offers a more diverse selection of investment options than ChoiceTrade. SogoTrade offers investors access to Stock Trading, OTCBB / Pink Sheets, Options Trading and Mutual Funds. Looking at Mutual Funds, SogoTrade offers its clients access to 6602 different mutual funds while ChoiceTrade has 0 available funds, a difference of 6,602.

Which trading platform is better: ChoiceTrade or SogoTrade?
To compare the trading platforms of both ChoiceTrade and SogoTrade, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, SogoTrade offers a better experience. With research, SogoTrade offers superior market research. Finally, we found ChoiceTrade to provide better mobile trading apps.

Does either broker offer banking?
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Banking is not popular with ChoiceTrade and SogoTrade as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable.

Overall, between ChoiceTrade and SogoTrade, SogoTrade is the better online broker.

ChoiceTrade Review
SogoTrade Review

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All pricing data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

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