The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers
. This review compares Interactive Brokers vs SogoTrade. Is Interactive Brokers or SogoTrade a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. SogoTrade, with its regular stock trades costing $4.88, is more expensive than Interactive Brokers's rate of $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 $4.88. SogoTrade's per contract rate of $0.50 is less than Interactive Brokers which charges $0.70. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews
For our next comparison of these two brokers, being able to trade the way you want is a must. SogoTrade offers clients Stock Trading, Options Trading and Mutual Funds while Interactive Brokers offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, SogoTrade boasts an offering of 13360 mutual funds compared to Interactive Brokers's 10051 available funds. Commission free ETFs can also be a nice plus, Interactive Brokers offers 45 commission free ETFs versus SogoTrade's total of 0.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Both Interactive Brokers and SogoTrade offer virtual trading. For mobile trading, Interactive Brokers and SogoTrade both have a 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 Debit Cards at Interactive Brokers while customers at SogoTrade can have none of these. On the whole, when it comes to tools, research, and mobile trading, unfortunately, neither Interactive Brokers nor SogoTrade received awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Interactive Brokers boasts 4.50 stars versus SogoTrade's 3.50 stars.