The StockBrokers.com 2017 Brokerage Review
compares ChoiceTrade vs SogoTrade. Compare ChoiceTrade and SogoTrade trade commissions, fees and overall broker ratings by using the table below. Is ChoiceTrade or SogoTrade a better online broker?
Looking at both brokers, first we will take a look at the commission rates for both placing regular stock and options trades. ChoiceTrade and SogoTrade have equal fees for trading equities, $5 per trade. Looking at options, the base fees charged are the same for both brokers, $5. Contracts at both of the brokerages are the same at $0.50 each. It should be noted that not every broker uses a flat rate stock trade fee structure, so it is important to read the full commission notes (head over to any online brokerage review
page, then navigate to the "Commission Notes" section).
Alongside trade commissions, being able to trade the way you want is a must. ChoiceTrade and SogoTrade provide clients with Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, SogoTrade boasts an offering of 12222 compared to ChoiceTrade's 500 available funds. Commission free ETFs can also be a nice plus, which is a wash in this comparison as both ChoiceTrade and SogoTrade offer 0 funds.
Last but not least, by breaking down important features that each broker offers, we can really help to separate the two brokers. Both ChoiceTrade and SogoTrade have virtual trading. For mobile trading, SogoTrade offers the iPhone App, iPad App and Android App while ChoiceTrade offers the none of these. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Banking is not popular with ChoiceTrade and SogoTrade as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable. On the whole, when it comes to tools, research, and trading on the go, Neither ChoiceTrade nor SogoTrade were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, SogoTrade boasts 3.00 stars versus ChoiceTrade's 2.00 stars.