Using data from our latest annual broker review which tested more than a dozen different online brokers
over six months, we can compare Lightspeed Trading 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 $4.88 per stock trade which is $0.38 more than Lightspeed Trading which charges customers $4.50 per trade. For options trading, SogoTrade has a base fee of $4.88, and Lightspeed Trading a base fee of $0. Each option contract then costs $0.60 at Lightspeed Trading and $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 provides its clients with Stock Trading, Options Trading and Mutual Funds while Lightspeed Trading provides clients access to Stock Trading, Options Trading and Futures Trading. As far as mutual funds go, SogoTrade offers its clients access to 13360 different mutual funds while Lightspeed Trading has 0 available funds, a difference of 13,360. And, commission free ETFs deserve a comparison, which in this case means trading a possible 0 commission free ETFs at both brokers.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Lightspeed Trading alongside SogoTrade offer virtual trading. For mobile trading, Both Lightspeed Trading and SogoTrade offer clients access to an iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Unfortunately, Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are not available at Lightspeed Trading or SogoTrade . All factors considered, when it comes to platform tools, research, and mobile trading, neither Lightspeed Trading nor SogoTrade were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, SogoTrade comes out on top with 3.50 stars over Lightspeed Trading's 3.00 stars.