Using data from the StockBrokers.com 2017 Broker Rankings
, 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, with its regular stock trades costing $5.00, is more expensive than Lightspeed Trading's rate of $4.50 per trade. For options trading, SogoTrade has a base fee of $5, 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 offers clients Stock Trading, Options Trading and Mutual Funds while Lightspeed Trading offers Stock Trading, Options Trading and Futures Trading. As far as mutual funds go, Lightspeed Trading trails SogoTrade by 12,222.00 total mutual funds, with SogoTrade offering 12222 and Lightspeed Trading offering 0. And, commission free ETFs deserve a comparison, which for investors means access to 0 commission free ETFs at both brokers.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Both Lightspeed Trading and SogoTrade offer virtual trading. For mobile trading, SogoTrade offers the iPhone App, iPad App and Android App while Lightspeed Trading offers the none of these. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Neither Lightspeed Trading nor SogoTrade offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. 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 3.00 stars over Lightspeed Trading's 2.50 stars.