Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker. Yielding a database of over 4,000 data points, let's compare Interactive Brokers vs SogoTrade.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. SogoTrade charges $4.88 per stock trade which is $4.88 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 $4.88. SogoTrade's per contract rate of $0.50 is less than Interactive Brokers which charges $0.70. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review.
Next to commission rates, being able to trade what you want is important. SogoTrade offers clients Stock Trading, Options Trading and Mutual Funds while Interactive Brokers offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, Interactive Brokers trails SogoTrade by 6,590 total mutual funds, with SogoTrade offering 6602 and Interactive Brokers offering 12.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Both Interactive Brokers and SogoTrade offer virtual trading. Taking a look at mobile trading, Interactive Brokers along with SogoTrade both support the iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Checking Accounts and Debit Cards are available to clients of Interactive Brokers while SogoTrade offers customers none of these.
Overall, between Interactive Brokers and SogoTrade, Interactive Brokers is the winner.
Interactive Brokers Review