The StockBrokers.com 2017 Brokerage Review
compares Merrill Edge vs SogoTrade. Compare Merrill Edge and SogoTrade trade commissions, fees and overall broker ratings by using the table below. Is Merrill Edge or SogoTrade a better online broker?
Looking at both brokers, first we will take a look at the commission rates for both placing regular stock and options trades. Merrill Edge charges more than SogoTrade for placing regular stock trades ($6.95 and $5.00, respectively). For options trading, Merrill Edge has a base fee of $6.95, and SogoTrade a base fee of $5.00. Each contract then costs $0.75 at Merrill Edge and $0.50 at SogoTrade for a difference in price of $0.25 per contract. It should be noted that not every broker uses a flat rate stock trade fee structure, so it is important to read the full commission notes (head over to any online brokerage review
page, then navigate to the "Commission Notes" section).
Alongside trade commissions, 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 12222 compared to Merrill Edge's 7649 available funds. Commission free ETFs can also be a nice plus, which is a wash in this comparison as both Merrill Edge and SogoTrade offer 0 funds.
Last but not least, by breaking down important features that each broker offers, we can really help to separate the two brokers. SogoTrade offers virtual trading while Merrill Edge does not. For mobile trading, Merrill Edge along with SogoTrade both support the 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 trading on the go, Merrill Edge finished with awards for Best in Class - Research in 2014, while SogoTrade came up with none of these.
Overall, Merrill Edge boasts 4.00 stars versus SogoTrade's 3.00 stars.