Using data from the StockBrokers.com 2017 Broker Rankings
, we can compare Interactive Brokers vs SogoTrade to determine which broker is better for you. Our database includes thousands of data points on everything from research to trading tools. Let's take a closer look at Interactive Brokers and SogoTrade.
First we will break down the commission charges of both brokers for placing stock and options trades. SogoTrade, with its regular stock trades costing $5, is more expensive than Interactive Brokers's rate of $0 (the broker charges a per share rate instead) per trade. With options, the base fees charged are $5 (SogoTrade) and $0 (Interactive Brokers). Contracts are pricier at Interactive Brokers, costing $0.70 versus $0.50 at SogoTrade, a difference of $0.20 per contract. Note that flat rate trading is not available everywhere though, so it is important to read the complete commission notes for each broker to know the full breakdown (go to any stock broker review
page, then scroll down to the "Commission Notes" section).
Trading fees aside, having access to trade what you want is also an important consideration. SogoTrade provides its clients with Stock Trading, Options Trading and Mutual Funds while Interactive Brokers gives clients access to Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, SogoTrade offers its clients access to 12222 different mutual funds while Interactive Brokers has 8026 available funds, a difference of 4,196.00. And, commission free ETFs deserve a mention, with SogoTrade falling behind Interactive Brokers, offering 0 commission free etfs compared to Interactive Brokers's 33.
Finally, by looking at the most popular features and offerings of each broker, we can really see the differences between the two. Interactive Brokers and SogoTrade both have virtual trading. For mobile trading, Interactive Brokers and SogoTrade both have a iPhone App, iPad App and Android App. Online banking is also used by many clients, and multiple brokerages provide these services. Unfortunately Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are not available at Interactive Brokers or SogoTrade . All things considered, when it comes to platform tools, research, and trading via smartphone, Interactive Brokers was rated for Best in Class - Platforms & Tools and Best in Class - Mobile Trading in 2014, while SogoTrade was rated for none of these.
Overall, Interactive Brokers boasts 4.00 stars versus SogoTrade's 3.00 stars.