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 charges $4.88 per stock trade which is $4.88 more than Firstrade which charges customers $0 per trade. With options, the base fees charged are $4.88 (SogoTrade) and $0 (Firstrade). Option contracts are pricier at SogoTrade, costing $0.50 versus $0 at Firstrade. 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 alongside SogoTrade offer clients Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, SogoTrade boasts an offering of 13360 mutual funds compared to Firstrade's 12603 available funds. Commission free ETFs can also be a nice plus, with Firstrade having the upper hand thanks to its 2200 available commission free ETFs compared to SogoTrade's offering 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 offers virtual trading while Firstrade does not. For mobile trading, Firstrade along with SogoTrade both support the 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, unfortunately, neither Firstrade nor SogoTrade received awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Firstrade comes out on top with 4.00 stars over SogoTrade's 3.50 stars.