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SogoTrade vs Lightspeed 2019

The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.

Is SogoTrade better than Lightspeed? After scoring brokers in nine separate categories for our 2019 review, SogoTrade (57.71%) is better than Lightspeed (51.8%). Founded in 1986, SogoTrade is an online discount brokerage that charges $4.88 base commissions and supports Chinese-speaking customers. Unfortunately, despite offering five trading platforms for stocks and options, SogoTrade struggles to stand out against the best brokers.

Special Offer Trades as low as $2.88 + 100 free trades. Switch to SogoTrade! Open Account
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Overall Rating

Feature SogoTrade Lightspeed
Overall 3 2.5
SogoTrade Review Lightspeed Review

Trading Fees

Feature SogoTrade Lightspeed
Minimum Deposit $500.00 $10,000.00
Stock Trade Fee (per trade) $4.88 $4.50
ETF Trade Fee $4.88 $4.50
Options Base Fee $4.88 $0.00
Options Per Contract Fee $0.50 $0.60
Mutual Fund Trade Fee $25.00 N/A
Broker Assisted Trades Fee $25.00 $25.00
Commissions & Fees 3.5 3
Winner check_circle

Margin Rates

Feature SogoTrade
Open Account
Lightspeed
Under $24,999.99 10.75% 8.50%
$25,000.00 to $49,999.99 9.75% 8.50%
$50,000.00 to $99,999.99 8.75% 7.50%
$100,000.00 to $249,999.99 7.50% 7.50%
$250,000.00 to $499,999.99 7.00% 6.75%
$500,000.00 to $999,999.99 6.50% 6.25%
Above $1,000,000.00 6.00% 6.00%
Commissions & Fees 3.5 3
Winner check_circle

Account Fees

Feature SogoTrade Lightspeed
IRA Annual Fee $35.00 $35.00
IRA Closure Fee $60.00 $95.00
Returned ACH Fee $30.00 $30.00
Returned Wire Fee $30.00 $30.00
Stock Certificate Processing Fee N/A $75.00
Stock Certificate Delivery Fee N/A $50.00
Paper Statement Fee $10.00 $5.00
Paper Confirmation Fee $5.00 $2.00
Domestic Wire Fee $25.00 $20.00
International Wire Fee $50.00 $50.00
Commissions & Fees 3.5 3

Investment Options

Feature SogoTrade Lightspeed
Stock Trading
Yes Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
No Yes
Forex Trading
No No
Commission-Free ETFs 0 0
Mutual Funds (No Load)
9964 0
Mutual Funds (Total)
11784 0
Bonds (US Treasury)
No Yes
Bonds (Corporate)
No No
Bonds (Municipal)
No No
Advisor Services
No No
International Trading
No No
Offering of Investments 2.5 3
Winner check_circle

Order Types

Feature SogoTrade Lightspeed
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
No Yes
Order Type - MultiContingent
No Yes
Order Type - OCO
No Yes
Order Type - OTO
No Yes
Order Type - OTOCO
No Yes
Offering of Investments 2.5 3
Winner check_circle

Trading Platforms

Feature SogoTrade Lightspeed
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
No Yes
Web Platform
Yes Yes
Paper Trading
Yes Yes
Trade Journal
No No
Watch Lists - Total Fields
49 141
Two-Factor Authentication Login
No Yes
Heat Mapping
Yes No
Platforms & Tools 3 3
Winner check_circle

Charting Features

Feature SogoTrade Lightspeed
Charting - Trade Off Chart
No Yes
Charting - Indicators / Studies
52 20
Charting - Drawing Tools
12 8
Charting - Historical Trades
No Yes
Charting - Corporate Events
No No
Charting - Automated Analysis
No No
Charting - Save Profiles
No Yes
Charting - Study Customizations
4 4
Charting - Custom Studies
No No
Platforms & Tools 3 3
Winner check_circle

Day Trading

Feature SogoTrade Lightspeed
Stock Alerts - Basic Fields
No Yes
Stock Alerts - Advanced Fields
No No
Streaming Time & Sales
Yes Yes
Streaming TV
No No
Direct Market Routing - Stocks
No Yes
Direct Market Routing - Options
No Yes
Ladder Trading
No No
Trade Hot Keys
No Yes
Level 2 Quotes - Stocks
No Yes
Level 2 Quotes - Options
No Yes
Trade Ideas - Backtesting
No No
Short Locator
No Yes
Client Liquidity Rebates
No Yes
Winner check_circle

Mobile Trading Apps

Feature SogoTrade Lightspeed
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes No
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes No
Trading - Conditional Orders
No No
Trading - Mutual Funds
No No
Trading - Simple Options
Yes No
Trading - Complex Options
Yes No
Trading - Option Rolling
No No
Touch / Face ID
Yes No
Winner check_circle

Mobile App Features

Feature SogoTrade Lightspeed
Watch List Syncing
No No
Stock Alerts - Basic Fields
No No
Charting - After Hours
No No
Charting - Drawing
No No
Charting - Study Customizations
No No
Customizable Homescreen
No No
Heatmapping
No No
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 3 1.5
Winner check_circle

Research Overview

Feature SogoTrade Lightspeed
Research - Stocks
Yes Yes
Research - ETFs
Yes No
Research - Mutual Funds
No No
Research - Pink Sheets / OTCBB
No No
Research - Fixed Income
No No
Screener - Stocks
Yes Yes
Screener - ETFs
Yes No
Screener - Mutual Funds
No No
Screener - Options
No No
Screener - Bonds
No No
Misc - Portfolio Builder
Yes No
Misc - Portfolio Allocation
No No
Research 2 1
Winner check_circle

Stock Research

Feature SogoTrade Lightspeed
Stock Research - Reports
1 0
Stock Research - Earnings
No No
Stock Research - Insiders
No Yes
Stock Research - Metric Comp
No No
Stock Research - SEC Filings
Yes No
Stock Research - Social
No Yes
Stock Research - Balance Sheet
Yes No
Stock Research - Cash Flows
No No
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 2 1
Winner check_circle

ETF Research

Feature SogoTrade Lightspeed
ETFs - Strategy Overview
Yes No
ETFs - Top 10 Holdings
Yes No
ETFs - Sector Exposure
No No
ETFs - Risk Analysis
No No
ETFs - Performance Analysis
Yes No
ETFs - Ratings
No No
ETFs - Morningstar StyleMap
No No
ETFs - Reports
No No
Research 2 1
Winner check_circle

Mutual Fund Research

Feature SogoTrade Lightspeed
Mutual Funds - Strategy Overview
No No
Mutual Funds - Prospectus
No No
Mutual Funds - Reports
No No
Mutual Funds - Fees Breakdown
No No
Mutual Funds - Top 10 Holdings
No No
Mutual Funds - Asset Allocation
No No
Mutual Funds - Sector Allocation
No No
Mutual Funds - Country Allocation
No No
Mutual Funds - StyleMap
No No
Mutual Funds - 3rd Party Ratings
No No
Research 2 1
Winner check_circle

Options Trading

Feature SogoTrade Lightspeed
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
22 60
Option Chains - Greeks
5 5
Option Chains - Quick Analysis
Yes Yes
Option Analysis - P&L Charts
Yes Yes
Option Probability Analysis
Yes No
Option Probability Analysis Adv
Yes No
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
Yes No
Option Positions - Rolling
Yes Yes
Option Positions - Grouping
No Yes
Platforms & Tools 3 3
Winner check_circle

Beginners

Feature SogoTrade Lightspeed
Has Education - Stocks
Yes Yes
Has Education - ETFs
Yes No
Has Education - Options
Yes Yes
Has Education - Mutual Funds
No No
Has Education - Fixed Income
No No
Has Education - Retirement
No No
Paper Trading
Yes Yes
Videos
No Yes
Webinars (Monthly Avg)
0 1
Webinars (Archived)
No Yes
Live Seminars
No No
Progress Tracking
No No
Interactive Learning - Quizzes
No No
Investor Magazine
No No
Education 2 2.5
Winner check_circle

Banking

Feature SogoTrade Lightspeed
Retail Locations
0 0
Member FDIC
No No
Checking Accounts
No No
Savings Accounts
No No
Credit Cards
No No
Debit Cards
No No
Mortgage Loans
No No
No Fee Banking
No No
Banking 0.5 0.5
Winner check_circle

Overall

Feature SogoTrade Lightspeed
SogoTrade Review Lightspeed Review
Overall 3 2.5
Winner check_circle
Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare Lightspeed 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, with its regular stock trades costing $4.88, is more expensive than Lightspeed's rate of $4.50 per trade. Looking at trading options, Lightspeed's base fee is $0 while SogoTrade's is $4.88. SogoTrade's per contract rate of $0.50 is less than Lightspeed which charges $0.60. 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 offers clients Stock Trading, Options Trading and Mutual Funds while Lightspeed offers Stock Trading, Options Trading and Futures Trading. As far as mutual funds go, SogoTrade boasts an offering of 11784 mutual funds compared to Lightspeed's 0 available funds.

Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Both Lightspeed and SogoTrade offer virtual trading. For mobile trading, Lightspeed and SogoTrade both have a iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Neither Lightspeed nor SogoTrade offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.

Overall, between Lightspeed and SogoTrade, SogoTrade is the winner.

Lightspeed Review
SogoTrade Review


All pricing data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

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