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SogoTrade vs Lightspeed Trading Review

Brandon Reinkensmeyer

Published by Brandon Reinkensmeyer


Tuesday, May 23rd, 2017

Comparing brokers side by side is no easy task. For our 2017 Broker Review, we factored in 308 different variables to assess 16 different brokers. So when taking a look at Lightspeed Trading vs SogoTrade, there is a huge database of information available to us.

To start this comparison, first we will take a look at the 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 contract then costs $0.60 at Lightspeed Trading and $0.50 at SogoTrade for a difference in price of $0.10 per contract. Not all brokers charge a flat rate fee per trade though, so it is important to read the full commission notes to know the complete breakdown (go to any online broker review page, then scroll to the "Commissions Notes" section).

Next to commission rates, being able to trade the instrument you want is important. SogoTrade provides its clients with Stock Trading, Options Trading and Mutual Funds while Lightspeed Trading gives clients access to Stock Trading, Options Trading and Futures Trading. Looking at mutual funds, SogoTrade boasts an offering of 12222 compared to Lightspeed Trading's 0 available funds. Commission free ETFs also should not be forgotten, which is a wash in this comparison as both Lightspeed Trading and SogoTrade offer 0 funds.

Lastly, taking a look at popular features and functionality, we can go a bit deeper to really break down the difference of both brokers. Both Lightspeed Trading and SogoTrade have virtual trading. Taking a look at mobile trading, SogoTrade supports the iPhone App, iPad App and Android App while Lightspeed Trading supports the 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. Neither Lightspeed Trading nor SogoTrade offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. On the whole, when it comes to tools, research, and trading on the go, Unfortunately, neither Lightspeed Trading nor SogoTrade received awards for 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.
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Overall
Commissions & Fees
Offering of Investments
Platforms & Tools
Research
Customer Service
Mobile Trading
Ease of Use
Education
Order Execution
Banking
Stock Trade Fee (flat)
Options Base Fee
Options Per Contract Fee
Mutual Fund Trade Fee
Broker Assisted Trades Fee
Minimum Deposit
No Inactivity Fees
No Fee IRAs
Stock Trading
Options Trading
Mutual Funds
Forex Trading
Futures Trading
Desktop Platform (Windows)
Web Platform
Virtual Trading
Charting - Drawing Tools
Charting - Indicators / Studies
Option Chains - Total Columns
Watch Lists - Total Fields
iPhone App
iPad App
Android App
Android Tablet App
Apple Watch App
Trading - After-Hours
Trading - Mutual Funds
Trading - Conditional Orders
Trading - Simple Options
Trading - Complex Options
Commission Free ETFs
Mutual Funds (No Load)
Mutual Funds (Total)
# of Easy to Borrow Stocks
Retail Locations
Under $24,999.99
$25,000.00 to $49,999.99
$50,000.00 to $99,999.99
$100,000.00 to $249,999.99
$250,000.00 to $499,999.99
Above $1,000,000.00
$500,000.00 to $999,999.99
Checking Accounts
Savings Accounts
Credit Cards
Debit Cards
Mortgage Loans
No Fee Banking
SogoTrade
Special Offer 100 free trades for 30 days, then $3 trades for 12 months Learn More
SogoTrade Review
 
3
4.5
2.5
3
2
4
2
3
2
1
0.5
 
$5.00
$5.00
$0.50
$25.00
$25.00
$500.00
No
No
 
Yes
Yes
Yes
No
No
 
Yes
Yes
Yes
12
52
22
49
 
Yes
Yes
Yes
Yes
Yes
 
Yes
No
No
Yes
No
 
0
4642
12222
4170
0
 
9.00%
8.00%
7.00%
5.75%
5.25%
4.25%
4.75%
 
No
No
No
No
No
No
Lightspeed Trading
Special Offer Get $10,000 cash back on trades with a new account! Learn More
Lightspeed Trading Review
 
2.5
4
3
3
0.5
3.5
0.5
2.5
1.5
4
0.5
 
$4.50
$0.00
$0.60
N/A
$25.00
$10,000.00
Yes
No
 
Yes
Yes
No
No
Yes
 
Yes
Yes
Yes
5
18
35
141
 
No
No
No
No
No
 
No
No
No
No
No
 
0
0
0
5500
0
 
6.50%
6.50%
5.50%
5.50%
4.75%
4.00%
4.25%
 
No
No
No
No
No
No

All pricing data was obtained from a published web site as of 2/20/2017 and is believed to be accurate, but is not guaranteed. The StockBrokers.com staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. 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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