Comparing brokers side by side is no easy task. For our 2017 Broker Review
, we factored in 308 different variables to assess 16 different brokers. So when taking a look at Fidelity Investments vs SogoTrade, there is a huge database of information available to us.
To start this comparison, first we will take a look at the broker commission rates for placing regular stock and options trades. SogoTrade, with its regular stock trades costing $5.00, is more expensive than Fidelity Investments's rate of $4.95 per trade. Looking at trading options, Fidelity Investments's base fee is $4.95 while SogoTrade's is $5.00. Each contract then costs $0.65 at Fidelity Investments and $0.50 at SogoTrade for a difference in price of $0.15 per contract. Not all brokers charge a flat rate fee per trade though, so it is important to read the full commission notes to know the complete breakdown (go to any online broker review
page, then scroll to the "Commissions Notes" section).
Next to commission rates, being able to trade the instrument you want is important. Fidelity Investments and SogoTrade provide clients with Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, SogoTrade trails Fidelity Investments by 982.00 total funds, with Fidelity Investments offering 13204 and SogoTrade offering 12222. Commission free ETFs also should not be forgotten, Fidelity Investments offers 91 versus SogoTrade's total of 0.
Lastly, taking a look at popular features and functionality, we can go a bit deeper to really break down the difference of both brokers. Fidelity Investments and SogoTrade both have virtual trading. Taking a look at mobile trading, Fidelity Investments along with SogoTrade both support the iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards and Credit Cards are offered by Fidelity Investments while SogoTrade offers none of these. On the whole, when it comes to tools, research, and trading on the go, Fidelity Investments finished with awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2014, while SogoTrade came up with none of these.
Overall, Fidelity Investments comes out on top with 4.50 stars over SogoTrade's 3.00 stars.