Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker. Yielding a database of over 4,000 data points, let's compare Firstrade vs SogoTrade.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. SogoTrade charges more than Firstrade for placing regular stock trades ($4.88 and $0, respectively). With options, the base fees charged are $4.88 (SogoTrade) and $0 (Firstrade). Each option contract then costs $0.50 at SogoTrade and $0 at Firstrade. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review.
Next to commission rates, being able to trade what you want is important. Both Firstrade and SogoTrade support Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Firstrade offers its clients access to 12603 different mutual funds while SogoTrade has 11784 available funds, a difference of 819.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. SogoTrade offers virtual trading while Firstrade does not. Taking a look at mobile trading, Firstrade 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 and Debit Cards are offered by Firstrade while SogoTrade offers none of these.
Overall, between Firstrade and SogoTrade, Firstrade is the winner.