Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare Cobra Trading 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, with its regular stock trades costing $4.88, is more expensive than Cobra Trading's rate of $0 (the broker charges a per share rate instead) per trade. Looking at trading options, SogoTrade's base fee is $4.88 while Cobra Trading's is $N/A. Option contracts run $0.50 a piece at both brokerages. 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 provides its clients with Stock Trading, Options Trading and Mutual Funds while Cobra Trading provides clients access to Stock Trading, Options Trading, Forex Trading and Futures Trading. As far as mutual funds go, SogoTrade offers its clients access to 6602 different mutual funds while Cobra Trading has 0 available funds, a difference of 6,602.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Cobra Trading and SogoTrade both offer virtual trading. For mobile trading, Cobra Trading offers the iPhone App and Android App while SogoTrade offers the iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Unfortunately, Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are not available at Cobra Trading or SogoTrade .
Overall, between Cobra Trading and SogoTrade, SogoTrade is the winner.
Cobra Trading Review