The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers. This review compares ChoiceTrade vs SogoTrade. Is ChoiceTrade or SogoTrade a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. SogoTrade charges more than ChoiceTrade for placing regular stock trades ($4.88 and $0, respectively). For options trading, SogoTrade has a base fee of $4.88, and ChoiceTrade a base fee of $0. Option contracts are pricier at SogoTrade, costing $0.50 versus $0.40 at ChoiceTrade. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews.
For our next comparison of these two brokers, being able to trade the way you want is a must. ChoiceTrade offers clients Stock Trading and Options Trading while SogoTrade offers Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, SogoTrade offers its clients access to 11784 different mutual funds while ChoiceTrade has 0 available funds, a difference of 11,784.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Both ChoiceTrade and SogoTrade offer virtual trading. For mobile trading, ChoiceTrade offers the iPhone App and Android App while SogoTrade offers the iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Neither ChoiceTrade nor SogoTrade offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Overall, between ChoiceTrade and SogoTrade, SogoTrade is the winner.