Comparing brokers side by side is no easy task. For our 2017 Broker Review, we assessed 16 brokers on 308 different variables to find the best online broker
. Yielding a database of over 5,000 data points, let's compare Lightspeed Trading 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, with its regular stock trades costing $5.00, is more expensive than Lightspeed Trading's rate of $4.50 per trade. Looking at trading options, Lightspeed Trading's base fee is $0 while SogoTrade's is $5. Each option contract then costs $0.60 at Lightspeed Trading and $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 offers clients Stock Trading, Options Trading and Mutual Funds while Lightspeed Trading offers Stock Trading, Options Trading and Futures Trading. Looking at mutual funds, SogoTrade offers its clients access to 12222 different mutual funds while Lightspeed Trading has 0 available funds, a difference of 12,222. Commission free ETFs can also be valuable for customers, which in this case means trading a possible 0 commission free ETFs at both brokers.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Both Lightspeed Trading and SogoTrade offer virtual trading. Taking a look at mobile trading, SogoTrade offer clients access to an iPhone App, iPad App and Android App while Lightspeed Trading has an none of these. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Unfortunately, Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are not available at Lightspeed Trading or SogoTrade . On the whole, when it comes to 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 3.00 stars over Lightspeed Trading's 2.50 stars.