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. For options trading, SogoTrade has a base fee of $4.88, and Interactive Brokers a base fee of $0. Option contracts are pricier at Interactive Brokers, costing $0.70 versus $0.50 at SogoTrade. 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, Interactive Brokers trails SogoTrade by 3,309 total mutual funds, with SogoTrade offering 13360 and Interactive Brokers offering 10051. Commission free ETFs can also be a nice plus, with SogoTrade falling behind Interactive Brokers, offering 0 commission free ETFs compared to Interactive Brokers's 45.
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 along with SogoTrade both support the iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Debit Cards are available to clients of Interactive Brokers while SogoTrade offers customers none of these. On the whole, when it comes to tools, research, and mobile trading, Interactive Brokers posted awards Best in Class - Mobile Trading in 2018, while SogoTrade found itself with none of these.
Overall, Interactive Brokers comes out on top with 4.50 stars over SogoTrade's 3.50 stars.