Using data from the StockBrokers.com 2017 Broker Review which tested 16 different online brokers
over six months, 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 more than Interactive Brokers for placing regular stock trades ($5 and $0 (the broker charges a per share rate instead), respectively). Looking at trading options, Interactive Brokers's base fee is $0 while SogoTrade's is $5. SogoTrade's per contract rate of $0.50 is less than Interactive Brokers which charges $0.70. 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, SogoTrade offers its clients access to 12222 different mutual funds while Interactive Brokers has 8026 available funds, a difference of 4,196. And, commission free ETFs deserve a comparison, with Interactive Brokers having the upper hand thanks to its 33 available commission free ETFs compared to SogoTrade's offering of 0.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Both Interactive Brokers and 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. Unfortunately, Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are not available at Interactive Brokers or SogoTrade . 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 comes out on top with 4.00 stars over SogoTrade's 3.00 stars.