The StockBrokers.com annual broker review assesses more than a dozen 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, with its regular stock trades costing $4.88, is more expensive than Firstrade's rate of $2.95 per trade. With options, the base fees charged are $4.88 (SogoTrade) and $2.95 (Firstrade). Option contracts at both of the brokerages are the same at $0.50 each. 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 13360 different mutual funds while Firstrade has 12603 available funds, a difference of 757. Commission free ETFs can also be a nice plus, Firstrade offers 703 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 makes virtual trading available to clients, while Firstrade does not. For mobile trading, Both Firstrade and SogoTrade offer clients access to 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 offered by Firstrade while SogoTrade offers none of these. On the whole, when it comes to tools, research, and mobile trading, both Firstrade and SogoTrade found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Firstrade boasts 4.00 stars versus SogoTrade's 3.50 stars.