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Interactive Brokers vs SogoTrade 2019

The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.

Is SogoTrade better than Interactive Brokers? After scoring brokers in nine separate categories for our 2019 review, Interactive Brokers (80.99%) is better than SogoTrade (57.71%). While Interactive Brokers is not suitable for casual investors, it leads the industry for low-cost trading for professionals. Through the Trader Workstation (TWS) platform, Interactive Brokers offers excellent tools and an extensive selection of tradable securities.

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Overall Rating

Feature Interactive Brokers SogoTrade
Overall 4 3
Interactive Brokers Review SogoTrade Review

Trading Fees

Feature Interactive Brokers SogoTrade
Minimum Deposit $0.00 $500.00
Stock Trade Fee (per trade) N/A $4.88
ETF Trade Fee $0.01 $4.88
Options Base Fee $0.00 $4.88
Options Per Contract Fee $0.70 $0.50
Mutual Fund Trade Fee $14.95 $25.00
Broker Assisted Trades Fee $30.00 $25.00
Commissions & Fees 4.5 3.5
Winner check_circle

Margin Rates

Feature Interactive Brokers
Open Account
SogoTrade
Open Account
Under $24,999.99 3.68% 10.75%
$25,000.00 to $49,999.99 3.68% 9.75%
$50,000.00 to $99,999.99 3.68% 8.75%
$100,000.00 to $249,999.99 3.18% 7.50%
$250,000.00 to $499,999.99 3.18% 7.00%
$500,000.00 to $999,999.99 3.18% 6.50%
Above $1,000,000.00 2.68% 6.00%
Commissions & Fees 4.5 3.5
Winner check_circle

Account Fees

Feature Interactive Brokers SogoTrade
IRA Annual Fee $0.00 $35.00
IRA Closure Fee $0.00 $60.00
Returned ACH Fee N/A $30.00
Returned Wire Fee N/A $30.00
Stock Certificate Processing Fee N/A N/A
Stock Certificate Delivery Fee N/A N/A
Paper Statement Fee N/A $10.00
Paper Confirmation Fee N/A $5.00
Domestic Wire Fee $10.00 $25.00
International Wire Fee $10.00 $50.00
Commissions & Fees 4.5 3.5

Investment Options

Feature Interactive Brokers SogoTrade
Stock Trading
Yes Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
Yes No
Forex Trading
No No
Commission-Free ETFs 48 0
Mutual Funds (No Load)
7558 9964
Mutual Funds (Total)
11000 11784
Bonds (US Treasury)
Yes No
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Advisor Services
No No
International Trading
Yes No
Offering of Investments 5 2.5
Winner check_circle

Order Types

Feature Interactive Brokers SogoTrade
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes No
Order Type - MultiContingent
Yes No
Order Type - OCO
Yes No
Order Type - OTO
Yes No
Order Type - OTOCO
Yes No
Offering of Investments 5 2.5
Winner check_circle

Trading Platforms

Feature Interactive Brokers SogoTrade
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
Yes No
Web Platform
Yes Yes
Paper Trading
Yes Yes
Trade Journal
Yes No
Watch Lists - Total Fields
453 49
Two-Factor Authentication Login
Yes No
Heat Mapping
Yes Yes
Platforms & Tools 4.5 3
Winner check_circle

Charting Features

Feature Interactive Brokers SogoTrade
Charting - Trade Off Chart
Yes No
Charting - Indicators / Studies
121 52
Charting - Drawing Tools
9 12
Charting - Historical Trades
Yes No
Charting - Corporate Events
Yes No
Charting - Automated Analysis
No No
Charting - Save Profiles
Yes No
Charting - Study Customizations
6 4
Charting - Custom Studies
No No
Platforms & Tools 4.5 3
Winner check_circle

Day Trading

Feature Interactive Brokers SogoTrade
Stock Alerts - Basic Fields
Yes No
Stock Alerts - Advanced Fields
No No
Streaming Time & Sales
Yes Yes
Streaming TV
Yes No
Direct Market Routing - Stocks
Yes No
Direct Market Routing - Options
Yes No
Ladder Trading
Yes No
Trade Hot Keys
Yes No
Level 2 Quotes - Stocks
Yes No
Level 2 Quotes - Options
Yes No
Trade Ideas - Backtesting
Yes No
Short Locator
Yes No
Client Liquidity Rebates
Yes No
Winner check_circle

Mobile Trading Apps

Feature Interactive Brokers SogoTrade
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes Yes
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
Yes No
Trading - Mutual Funds
Yes No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes Yes
Winner check_circle

Mobile App Features

Feature Interactive Brokers SogoTrade
Watch List Syncing
Yes No
Stock Alerts - Basic Fields
Yes No
Charting - After Hours
Yes No
Charting - Drawing
No No
Charting - Study Customizations
Yes No
Customizable Homescreen
No No
Heatmapping
No No
Stream Live TV
Yes No
Barcode Lookup
No No
Mobile Trading 4.5 3
Winner check_circle

Research Overview

Feature Interactive Brokers SogoTrade
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
No No
Research - Pink Sheets / OTCBB
Yes No
Research - Fixed Income
Yes No
Screener - Stocks
Yes Yes
Screener - ETFs
Yes Yes
Screener - Mutual Funds
No No
Screener - Options
Yes No
Screener - Bonds
Yes No
Misc - Portfolio Builder
Yes Yes
Misc - Portfolio Allocation
Yes No
Research 3.5 2
Winner check_circle

Stock Research

Feature Interactive Brokers SogoTrade
Stock Research - Reports
1 1
Stock Research - Earnings
Yes No
Stock Research - Insiders
Yes No
Stock Research - Metric Comp
Yes No
Stock Research - SEC Filings
Yes Yes
Stock Research - Social
Yes No
Stock Research - Balance Sheet
Yes Yes
Stock Research - Cash Flows
Yes No
Stock Research - News
Yes Yes
Stock Research - ESG
Yes No
Research 3.5 2
Winner check_circle

ETF Research

Feature Interactive Brokers SogoTrade
ETFs - Strategy Overview
Yes Yes
ETFs - Top 10 Holdings
Yes Yes
ETFs - Sector Exposure
Yes No
ETFs - Risk Analysis
Yes No
ETFs - Performance Analysis
Yes Yes
ETFs - Ratings
Yes No
ETFs - Morningstar StyleMap
No No
ETFs - Reports
Yes No
Research 3.5 2
Winner check_circle

Mutual Fund Research

Feature Interactive Brokers SogoTrade
Mutual Funds - Strategy Overview
No No
Mutual Funds - Prospectus
Yes No
Mutual Funds - Reports
Yes No
Mutual Funds - Fees Breakdown
Yes No
Mutual Funds - Top 10 Holdings
No No
Mutual Funds - Asset Allocation
No No
Mutual Funds - Sector Allocation
No No
Mutual Funds - Country Allocation
No No
Mutual Funds - StyleMap
No No
Mutual Funds - 3rd Party Ratings
No No
Research 3.5 2
Winner check_circle

Options Trading

Feature Interactive Brokers SogoTrade
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
37 22
Option Chains - Greeks
4 5
Option Chains - Quick Analysis
Yes Yes
Option Analysis - P&L Charts
Yes Yes
Option Probability Analysis
Yes Yes
Option Probability Analysis Adv
Yes Yes
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
Yes Yes
Option Positions - Rolling
Yes Yes
Option Positions - Grouping
Yes No
Platforms & Tools 4.5 3
Winner check_circle

Beginners

Feature Interactive Brokers SogoTrade
Has Education - Stocks
Yes Yes
Has Education - ETFs
No Yes
Has Education - Options
Yes Yes
Has Education - Mutual Funds
No No
Has Education - Fixed Income
No No
Has Education - Retirement
No No
Paper Trading
Yes Yes
Videos
Yes No
Webinars (Monthly Avg)
20 0
Webinars (Archived)
Yes No
Live Seminars
No No
Progress Tracking
Yes No
Interactive Learning - Quizzes
Yes No
Investor Magazine
Yes No
Education 3 2
Winner check_circle

Banking

Feature Interactive Brokers SogoTrade
Retail Locations
0 0
Member FDIC
No No
Checking Accounts
Yes No
Savings Accounts
No No
Credit Cards
No No
Debit Cards
Yes No
Mortgage Loans
No No
No Fee Banking
No No
Banking 2 0.5
Winner check_circle

Overall

Feature Interactive Brokers SogoTrade
Interactive Brokers Review SogoTrade Review
Overall 4 3
Winner check_circle
Using data from our latest annual broker review which tested more than a dozen 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 ($4.88 and $0 (the broker charges a per share rate instead), respectively). With options, the base fees charged are $4.88 (SogoTrade) and $0 (Interactive Brokers). 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 supports Stock Trading, Options Trading and Mutual Funds while Interactive Brokers supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, SogoTrade offers its clients access to 11784 different mutual funds while Interactive Brokers has 11000 available funds, a difference of 784.

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 and SogoTrade both have a iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Clients can have Checking Accounts and Debit Cards at Interactive Brokers while customers at SogoTrade can have none of these.

Overall, between Interactive Brokers and SogoTrade, Interactive Brokers is the winner.

Interactive Brokers Review
SogoTrade Review


All pricing data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

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