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Firstrade vs SogoTrade 2020

Is Firstrade better than SogoTrade? After testing 15 of the best online brokers over five months, Firstrade (76.33%) is better than SogoTrade (66.13%). Firstrade offers $0 stock, ETF, and options trades, and is best known for its easy-to-use website, alongside its Chinese language services. While Firstrade offers Morningstar research and a variety of tools, its overall offering struggles to stand out against household name brands who are also priced at $0.

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Overall Rating

Trading Fees

Feature Firstrade SogoTrade
Minimum Deposit $0.00 $500.00
Stock Trade Fee (per trade) $0.00 $4.88
ETF Trade Fee $0.00 $4.88
Options Base Fee $0.00 $4.88
Options Per Contract Fee $0.00 $0.50
Mutual Fund Trade Fee $0.00 $25.00
Broker Assisted Trades Fee $19.95 $25.00
Commissions & Fees 4.5 4
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Margin Rates

Feature Firstrade SogoTrade
Under $24,999.99 8.75% 9.25%
$25,000.00 to $49,999.99 8.25% 8.25%
$50,000.00 to $99,999.99 7.75% 7.25%
$100,000.00 to $249,999.99 7.25% 6.00%
$250,000.00 to $499,999.99 7.00% 5.50%
$500,000.00 to $999,999.99 5.10% 5.00%
Above $1,000,000.00 4.50% 4.50%
Commissions & Fees 4.5 4
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Account Fees

Feature Firstrade SogoTrade
IRA Annual Fee $0.00 $35.00
IRA Closure Fee $0.00 $60.00
Returned ACH Fee $50.00 $30.00
Returned Wire Fee $50.00 $30.00
Stock Certificate Processing Fee $300.00 N/A
Stock Certificate Delivery Fee $300.00 N/A
Paper Statement Fee $5.00 $10.00
Paper Confirmation Fee $3.00 $5.00
Domestic Wire Fee $30.00 $25.00
International Wire Fee $50.00 $50.00
Commissions & Fees 4.5 4

Investment Options

Feature Firstrade SogoTrade
Stock Trading
Yes Yes
Fractional Shares
No No
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
No No
Forex Trading
No No
Commission-Free ETFs all 0
Mutual Funds (No Load)
10746 3432
Mutual Funds (Total)
14939 6602
Bonds (US Treasury)
Yes No
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Interest Sharing
No No
Advisor Services
No No
International Trading
No No
Offering of Investments 4 3
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Order Types

Feature Firstrade SogoTrade
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes No
Order Type - MultiContingent
Yes No
Order Type - OCO
Yes No
Order Type - OTO
Yes No
Order Type - OTOCO
No No
Offering of Investments 4 3
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Trading Platforms

Feature Firstrade SogoTrade
Desktop Platform (Windows)
No Yes
Desktop Platform (Mac)
No No
Web Platform
Yes Yes
Paper Trading
No Yes
Trade Journal
No No
Watch Lists - Total Fields
47 49
Heat Mapping
Yes Yes
AI Assistant Bot
No No
Platforms & Tools 2.5 3
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Charting Features

Feature Firstrade SogoTrade
Charting - Trade Off Chart
No No
Charting - Indicators / Studies
58 52
Charting - Drawing Tools
8 12
Charting - Historical Trades
No No
Charting - Corporate Events
Yes No
Charting - Automated Analysis
No No
Charting - Save Profiles
No No
Charting - Study Customizations
6 4
Charting - Custom Studies
No No
Platforms & Tools 2.5 3
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Day Trading

Feature Firstrade SogoTrade
Stock Alerts - Basic Fields
Yes No
Stock Alerts - Advanced Fields
No No
Streaming Time & Sales
No Yes
Streaming TV
No No
Direct Market Routing - Stocks
No No
Direct Market Routing - Options
No No
Ladder Trading
No No
Trade Hot Keys
No No
Level 2 Quotes - Stocks
No No
Level 2 Quotes - Options
No No
Trade Ideas - Backtesting
No No
Short Locator
No No
Order Liquidity Rebates
No No
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Mobile Trading Apps

Feature Firstrade SogoTrade
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
No Yes
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
No No
Trading - Mutual Funds
No No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes Yes
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Mobile App Features

Feature Firstrade SogoTrade
Watch List Syncing
Yes No
Stock Alerts
No No
Charting - After Hours
No No
Charting - Drawing
No No
Charting - Study Customizations
Yes No
Heatmapping
No No
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 3.5 3.5
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Research Overview

Feature Firstrade SogoTrade
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
Yes No
Research - Pink Sheets / OTCBB
Yes No
Research - Fixed Income
Yes No
Screener - Stocks
Yes Yes
Screener - ETFs
Yes Yes
Screener - Mutual Funds
Yes No
Screener - Options
No No
Screener - Bonds
Yes No
Misc - Portfolio Builder
No Yes
Misc - Portfolio Allocation
Yes No
Research 4 2.5
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Stock Research

Feature Firstrade SogoTrade
Stock Research - Reports
1 1
Stock Research - Earnings
Yes No
Stock Research - Insiders
Yes No
Stock Research - Metric Comp
Yes No
Stock Research - SEC Filings
Yes Yes
Stock Research - Social
No No
Stock Research - Balance Sheet
Yes Yes
Stock Research - Cash Flows
Yes No
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 4 2.5
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ETF Research

Feature Firstrade SogoTrade
ETFs - Strategy Overview
Yes Yes
ETFs - Top 10 Holdings
Yes Yes
ETFs - Sector Exposure
Yes No
ETFs - Risk Analysis
Yes No
ETFs - Performance Analysis
Yes Yes
ETFs - Ratings
Yes No
ETFs - Morningstar StyleMap
Yes No
ETFs - Reports
Yes No
Research 4 2.5
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Mutual Fund Research

Feature Firstrade SogoTrade
Mutual Funds - Strategy Overview
Yes No
Mutual Funds - Prospectus
Yes No
Mutual Funds - Reports
No No
Mutual Funds - Fees Breakdown
Yes No
Mutual Funds - Top 10 Holdings
Yes No
Mutual Funds - Asset Allocation
Yes No
Mutual Funds - Sector Allocation
Yes No
Mutual Funds - Country Allocation
Yes No
Mutual Funds - StyleMap
Yes No
Mutual Funds - 3rd Party Ratings
Yes No
Research 4 2.5
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Options Trading

Feature Firstrade SogoTrade
Option Chains - Streaming
No Yes
Option Chains - Total Columns
8 22
Option Chains - Greeks
5 5
Option Chains - Quick Analysis
No Yes
Option Analysis - P&L Charts
No Yes
Option Probability Analysis
No Yes
Option Probability Analysis Adv
No Yes
Option Positions - Greeks
No Yes
Option Positions - Adv Analysis
No Yes
Option Positions - Rolling
Yes Yes
Option Positions - Grouping
No No
Platforms & Tools 2.5 3
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Beginners

Feature Firstrade SogoTrade
Education (Stocks)
Yes Yes
Education (ETFs)
No No
Education (Options)
Yes Yes
Education (Mutual Funds)
No No
Education (Fixed Income)
No No
Education (Retirement)
Yes No
Paper Trading
No Yes
Videos
Yes No
Webinars (Monthly Avg)
6 0
Webinars (Archived)
Yes No
Live Seminars
No No
Progress Tracking
No No
Interactive Learning - Quizzes
No No
Investor Magazine
No No
Education 3 2
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Banking

Feature Firstrade SogoTrade
Retail Locations
1 0
Member FDIC
No No
Checking Accounts
Yes No
Savings Accounts
No No
Credit Cards
No No
Debit Cards
Yes No
Mortgage Loans
No No
No Fee Banking
No No
Banking 2 0.5

Overall

Feature Firstrade SogoTrade
Firstrade Review SogoTrade Review
Overall 4 3.5
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Comparing brokers side by side is no easy task. For our 2020 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare Firstrade vs SogoTrade.

Is Firstrade or SogoTrade better for beginners?
Firstrade is better for beginner investors than SogoTrade. Firstrade offers investors access to Videos, Education (Stocks), Education (Options) and Education (Retirement).

What about Firstrade vs SogoTrade pricing?
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). Each option contract then costs $0.50 at SogoTrade and $0 at Firstrade. For a complete commissions summary, see our best discount brokers guide.

Does Firstrade or SogoTrade offer a wider range of investment options?
Firstrade offers a more diverse selection of investment options than SogoTrade. Firstrade offers investors access to Stock Trading, OTCBB / Pink Sheets, Options Trading and Mutual Funds. Looking at Mutual Funds, Firstrade offers its clients access to 14939 different mutual funds while SogoTrade has 6602 available funds, a difference of 8,337.

Which trading platform is better: Firstrade or SogoTrade?
To compare the trading platforms of both Firstrade and SogoTrade, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, SogoTrade offers a better experience. With research, Firstrade offers superior market research. Finally, we found Firstrade to provide better mobile trading apps.

Does either broker offer banking?
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Clients can have Checking Accounts and Debit Cards at Firstrade while customers at SogoTrade can have none of these.

Overall, between Firstrade and SogoTrade, Firstrade is the better online broker.

Firstrade Review
SogoTrade Review

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All pricing data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

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