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, with its regular stock trades costing $4.88, is more expensive than Firstrade's rate of $0 per trade. Looking at trading options, Firstrade's base fee is $0 while SogoTrade's is $4.88. 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. Firstrade alongside SogoTrade offer clients Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, SogoTrade trails Firstrade by 819 total mutual funds, with Firstrade offering 12603 and SogoTrade offering 11784.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. SogoTrade makes virtual trading available to clients, 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.