The StockBrokers.com 2017 Brokerage Review assessed 16 different brokers over six months, surfacing the best online stock brokers
. This review compares Firstrade vs SogoTrade. Is Firstrade 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 $5.00 per stock trade which is $0.05 more than Firstrade which charges customers $4.95 per trade. For options trading, SogoTrade has a base fee of $5.00, and Firstrade a base fee of $4.95. Option contracts are pricier at Firstrade, costing $0.65 versus $0.50 at SogoTrade. 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. Firstrade and SogoTrade provide clients with Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, SogoTrade offers its clients access to 12222 different mutual funds while Firstrade has 12191 available funds, a difference of 31. Commission free ETFs can also be a nice plus, Firstrade offers 12 commission free ETFs versus SogoTrade's total of 0.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. SogoTrade has virtual trading, Firstrade doesn't. For mobile trading, Firstrade offer 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. Checking Accounts and Debit Cards are available to clients of Firstrade while SogoTrade offers customers none of these. On the whole, when it comes to tools, research, and mobile trading, neither Firstrade nor SogoTrade were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Firstrade takes the upper hand with 3.50 stars over SogoTrade's 3.00 stars.