The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers
. This review compares Merrill Edge vs SogoTrade. Is Merrill Edge or SogoTrade a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Merrill Edge, with its regular stock trades costing $6.95, is more expensive than SogoTrade's rate of $4.88 per trade. For options trading, Merrill Edge has a base fee of $6.95, and SogoTrade a base fee of $4.88. SogoTrade's per contract rate of $0.50 is less than Merrill Edge which charges $0.75. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews
For our next comparison of these two brokers, being able to trade the way you want is a must. Both Merrill Edge and SogoTrade support Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, SogoTrade boasts an offering of 13360 mutual funds compared to Merrill Edge's 3688 available funds. Commission free ETFs can also be a nice plus, which in this case means trading a possible 0 commission free ETFs at both brokers.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. SogoTrade has virtual trading, Merrill Edge doesn't. For mobile trading, Merrill Edge and SogoTrade both have a iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Merrill Edge while SogoTrade offers none of these. On the whole, when it comes to tools, research, and mobile trading, both Merrill Edge and SogoTrade found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Merrill Edge takes the upper hand with 4.50 stars over SogoTrade's 3.50 stars.