Using data from the StockBrokers.com 2017 Broker Rankings
, we can compare Interactive Brokers vs SogoTrade to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing stock and options trades. SogoTrade charges $5 per stock trade which is $5.00 more than Interactive Brokers which charges customers $0 (the broker charges a per share rate instead) per trade. Looking at trading options, Interactive Brokers's base fee is $0 while SogoTrade's is $5. Option contracts are pricier at Interactive Brokers, costing $0.70 versus $0.50 at SogoTrade. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews
Next, investors want to make sure they can trade the investment vehicle they want. SogoTrade provides its clients with Stock Trading, Options Trading and Mutual Funds while Interactive Brokers provides clients access to Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, Interactive Brokers trails SogoTrade by 4,196.00 total mutual funds, with SogoTrade offering 12222 and Interactive Brokers offering 8026. And, commission free ETFs deserve a comparison, with SogoTrade falling behind Interactive Brokers, offering 0 commission free ETFs compared to Interactive Brokers's 33.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Interactive Brokers alongside SogoTrade offer virtual trading. For mobile trading, Interactive Brokers along with SogoTrade both support the iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Banking is not popular with Interactive Brokers and SogoTrade as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable. All factors considered, when it comes to platform tools, research, and mobile trading, Interactive Brokers was rated Best in Class - Platforms & Tools and Best in Class - Mobile Trading in 2017, while SogoTrade was rated none of these.
Overall, Interactive Brokers takes the upper hand with 4.00 stars over SogoTrade's 3.00 stars.