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 Lightspeed 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 $0.38 more than Lightspeed which charges customers $4.50 per trade. For options trading, SogoTrade has a base fee of $4.88, and Lightspeed a base fee of $0. Option contracts are pricier at Lightspeed, costing $0.60 versus $0.50 at SogoTrade. 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 provides its clients with Stock Trading, Options Trading and Mutual Funds while Lightspeed provides clients access to Stock Trading, Options Trading and Futures Trading. Looking at mutual funds, Lightspeed trails SogoTrade by 11,784 total mutual funds, with SogoTrade offering 11784 and Lightspeed offering 0.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Lightspeed and SogoTrade both offer virtual trading. Taking a look at mobile trading, Both Lightspeed and SogoTrade offer clients access to an 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. Banking is not popular with Lightspeed and SogoTrade as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable.
Overall, between Lightspeed and SogoTrade, SogoTrade is the winner.