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 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. Each option contract then costs $0.70 at Interactive Brokers and $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 supports Stock Trading, Options Trading and Mutual Funds while Interactive Brokers supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, SogoTrade offers its clients access to 13360 different mutual funds while Interactive Brokers has 10051 available funds, a difference of 3,309. 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. Interactive Brokers alongside 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. 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, Interactive Brokers was rated Best in Class - Platforms & Tools and Best in Class - Mobile Trading, while SogoTrade was rated none of these.
Overall, Interactive Brokers boasts 4.00 stars versus SogoTrade's 3.00 stars.