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 charges $6.95 per stock trade which is $2.07 more than SogoTrade which charges customers $4.88 per trade. For options trading, Merrill Edge has a base fee of $6.95, and SogoTrade a base fee of $4.88. Option contracts are pricier at Merrill Edge, costing $0.75 versus $0.50 at SogoTrade. 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 is a wash in this comparison as both Merrill Edge and SogoTrade offer 0 commission free ETFs.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. SogoTrade makes virtual trading available to clients, while Merrill Edge does not. 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 available to clients of Merrill Edge while SogoTrade offers customers none of these. On the whole, when it comes to tools, research, and mobile trading, Merrill Edge posted awards Best in Class - Research in 2018, while SogoTrade found itself with none of these.
Overall, Merrill Edge takes the upper hand with 4.00 stars over SogoTrade's 3.00 stars.