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Firstrade vs SogoTrade Review

Brandon Reinkensmeyer

Published by Brandon Reinkensmeyer


Wednesday, June 21st, 2017

The StockBrokers.com 2017 Brokerage Review compares Firstrade vs SogoTrade. Compare Firstrade and SogoTrade trade commissions, fees and overall broker ratings by using the table below. Is Firstrade or SogoTrade a better online broker?

Looking at both brokers, first we will take a look at the commission rates for both placing regular stock and options trades. SogoTrade, with its regular stock trades costing $5.00, is more expensive than Firstrade's rate of $4.95 per trade. With options, the base fees charged are $5.00 (SogoTrade) and $4.95 (Firstrade). Each contract then costs $0.65 at Firstrade and $0.50 at SogoTrade for a difference in price of $0.15 per contract. It should be noted that not every broker uses a flat rate stock trade fee structure, so it is important to read the full commission notes (head over to any online brokerage review page, then navigate to the "Commission Notes" section).

Alongside trade commissions, 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 boasts an offering of 12222 compared to Firstrade's 12191 available funds. Commission free ETFs can also be a nice plus, with SogoTrade falling behind Firstrade, offering 0 commission free etfs compared to Firstrade's 12.

Last but not least, by breaking down important features that each broker offers, we can really help to separate the two brokers. SogoTrade offers virtual trading while Firstrade does not. For mobile trading, Firstrade gives clients access to an iPhone App and Android App while SogoTrade has an iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Clients can have Checking Accounts and Debit Cards at Firstrade while clients at SogoTrade can have none of these. On the whole, when it comes to tools, research, and trading on the go, Unfortunately, neither Firstrade nor SogoTrade received awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.

Overall, Firstrade boasts 3.50 stars versus SogoTrade's 3.00 stars.
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Overall
Commissions & Fees
Offering of Investments
Platforms & Tools
Research
Customer Service
Mobile Trading
Ease of Use
Education
Order Execution
Banking
Stock Trade Fee (flat)
Options Base Fee
Options Per Contract Fee
Mutual Fund Trade Fee
Broker Assisted Trades Fee
Minimum Deposit
No Inactivity Fees
No Fee IRAs
Stock Trading
Options Trading
Mutual Funds
Forex Trading
Futures Trading
Desktop Platform (Windows)
Web Platform
Virtual Trading
Charting - Drawing Tools
Charting - Indicators / Studies
Option Chains - Total Columns
Watch Lists - Total Fields
iPhone App
iPad App
Android App
Android Tablet App
Apple Watch App
Trading - After-Hours
Trading - Mutual Funds
Trading - Conditional Orders
Trading - Simple Options
Trading - Complex Options
Commission Free ETFs
Mutual Funds (No Load)
Mutual Funds (Total)
# of Easy to Borrow Stocks
Retail Locations
Under $24,999.99
$25,000.00 to $49,999.99
$50,000.00 to $99,999.99
$100,000.00 to $249,999.99
$250,000.00 to $499,999.99
Above $1,000,000.00
$500,000.00 to $999,999.99
Checking Accounts
Savings Accounts
Credit Cards
Debit Cards
Mortgage Loans
No Fee Banking
Firstrade
Special Offer Get up to $1000 in free commissions Learn More
Firstrade Review
 
3.5
3.5
3.5
2
4
4
3.5
4.5
3
1.5
2
 
$4.95
$4.95
$0.65
$9.95
$19.95
$0.00
Yes
Yes
 
Yes
Yes
Yes
No
No
 
No
Yes
No
5
58
8
57
 
Yes
No
Yes
No
No
 
Yes
No
No
Yes
No
 
12
4928
12191
4200
2
 
7.75%
7.50%
7.00%
6.50%
6.00%
4.50%
5.00%
 
Yes
No
No
Yes
No
No
SogoTrade
Special Offer 100 free trades for 30 days, then $3 trades for 12 months Learn More
SogoTrade Review
 
3
4.5
2.5
3
2
4
2
3
2
1
0.5
 
$5.00
$5.00
$0.50
$25.00
$25.00
$500.00
No
No
 
Yes
Yes
Yes
No
No
 
Yes
Yes
Yes
12
52
22
49
 
Yes
Yes
Yes
Yes
Yes
 
Yes
No
No
Yes
No
 
0
4642
12222
4170
0
 
9.00%
8.00%
7.00%
5.75%
5.25%
4.25%
4.75%
 
No
No
No
No
No
No

All pricing data was obtained from a published web site as of 2/20/2017 and is believed to be accurate, but is not guaranteed. The StockBrokers.com staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. 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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