The StockBrokers.com 2017 Brokerage Review
compares Firstrade vs SogoTrade. Compare Firstrade and SogoTrade trade commissions, fees and overall broker ratings by using the table below. Is Firstrade 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. SogoTrade, with its regular stock trades costing $5.00, is more expensive than Firstrade's rate of $4.95 per trade. With options, the base fees charged are $5.00 (SogoTrade) and $4.95 (Firstrade). Each contract then costs $0.65 at Firstrade and $0.50 at SogoTrade for a difference in price of $0.15 per contract. 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. Firstrade 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 Firstrade's 12191 available funds. Commission free ETFs can also be a nice plus, with SogoTrade falling behind Firstrade, offering 0 commission free etfs compared to Firstrade's 12.
Last but not least, by breaking down important features that each broker offers, we can really help to separate the two brokers. SogoTrade offers virtual trading while Firstrade does not. For mobile trading, Firstrade gives clients access to an iPhone App and Android App while SogoTrade has an iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Clients can have Checking Accounts and Debit Cards at Firstrade while clients at SogoTrade can have none of these. On the whole, when it comes to tools, research, and trading on the go, Unfortunately, neither Firstrade nor SogoTrade received awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Firstrade boasts 3.50 stars versus SogoTrade's 3.00 stars.