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SogoTrade vs Merrill Edge 2019

The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.

Is Merrill Edge better than SogoTrade? Based on over 4,000 data points from our 2019 annual broker review, Merrill Edge (77.93%) is better than SogoTrade (57.71%). Backed by parent company Bank of America, Merrill Edge delivers fantastic research, customer service, universal account support, and customer rewards. Merrill Edge offers 10 commission-free stock or ETF trades each month to investors with balances above $20,000.

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Overall Rating

Feature SogoTrade Merrill Edge
Overall 3 4
SogoTrade Review Merrill Edge Review

Trading Fees

Feature SogoTrade Merrill Edge
Minimum Deposit $500.00 $0.00
Stock Trade Fee (per trade) $4.88 $6.95
ETF Trade Fee $4.88 $6.95
Options Base Fee $4.88 $6.95
Options Per Contract Fee $0.50 $0.75
Mutual Fund Trade Fee $25.00 $19.95
Broker Assisted Trades Fee $25.00 $29.95
Commissions & Fees 3.5 4
Winner check_circle

Margin Rates

Feature SogoTrade
Open Account
Merrill Edge
Open Account
Under $24,999.99 10.75% 10.63%
$25,000.00 to $49,999.99 9.75% 9.50%
$50,000.00 to $99,999.99 8.75% 9.50%
$100,000.00 to $249,999.99 7.50% 8.13%
$250,000.00 to $499,999.99 7.00% 8.13%
$500,000.00 to $999,999.99 6.50% 7.88%
Above $1,000,000.00 6.00% 7.25%
Commissions & Fees 3.5 4
Winner check_circle

Account Fees

Feature SogoTrade Merrill Edge
IRA Annual Fee $35.00 $0.00
IRA Closure Fee $60.00 $49.95
Returned ACH Fee $30.00 $30.00
Returned Wire Fee $30.00 N/A
Stock Certificate Processing Fee N/A $500.00
Stock Certificate Delivery Fee N/A N/A
Paper Statement Fee $10.00 $5.00
Paper Confirmation Fee $5.00 $3.00
Domestic Wire Fee $25.00 $24.95
International Wire Fee $50.00 $24.95
Commissions & Fees 3.5 4

Investment Options

Feature SogoTrade Merrill Edge
Stock Trading
Yes Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 2
Futures Trading
No No
Forex Trading
No No
Commission-Free ETFs 0 0
Mutual Funds (No Load)
9964 2471
Mutual Funds (Total)
11784 3709
Bonds (US Treasury)
No Yes
Bonds (Corporate)
No Yes
Bonds (Municipal)
No Yes
Advisor Services
No Yes
International Trading
No No
Offering of Investments 2.5 3
Winner check_circle

Order Types

Feature SogoTrade Merrill Edge
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
No No
Order Type - MultiContingent
No No
Order Type - OCO
No No
Order Type - OTO
No No
Order Type - OTOCO
No No
Offering of Investments 2.5 3
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Trading Platforms

Feature SogoTrade Merrill Edge
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
No Yes
Web Platform
Yes Yes
Paper Trading
Yes No
Trade Journal
No No
Watch Lists - Total Fields
49 285
Two-Factor Authentication Login
No Yes
Heat Mapping
Yes Yes
Platforms & Tools 3 4
Winner check_circle

Charting Features

Feature SogoTrade Merrill Edge
Charting - Trade Off Chart
No Yes
Charting - Indicators / Studies
52 95
Charting - Drawing Tools
12 22
Charting - Historical Trades
No Yes
Charting - Corporate Events
No Yes
Charting - Automated Analysis
No Yes
Charting - Save Profiles
No Yes
Charting - Study Customizations
4 8
Charting - Custom Studies
No No
Platforms & Tools 3 4
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Day Trading

Feature SogoTrade Merrill Edge
Stock Alerts - Basic Fields
No Yes
Stock Alerts - Advanced Fields
No Yes
Streaming Time & Sales
Yes Yes
Streaming TV
No No
Direct Market Routing - Stocks
No No
Direct Market Routing - Options
No No
Ladder Trading
No No
Trade Hot Keys
No Yes
Level 2 Quotes - Stocks
No Yes
Level 2 Quotes - Options
No Yes
Trade Ideas - Backtesting
No Yes
Short Locator
No No
Client Liquidity Rebates
No No
Winner check_circle

Mobile Trading Apps

Feature SogoTrade Merrill Edge
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes Yes
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
No No
Trading - Mutual Funds
No Yes
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes Yes
Winner check_circle

Mobile App Features

Feature SogoTrade Merrill Edge
Watch List Syncing
No Yes
Stock Alerts - Basic Fields
No Yes
Charting - After Hours
No Yes
Charting - Drawing
No Yes
Charting - Study Customizations
No Yes
Customizable Homescreen
No Yes
Heatmapping
No Yes
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 3 4.5
Winner check_circle

Research Overview

Feature SogoTrade Merrill Edge
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
No Yes
Research - Pink Sheets / OTCBB
No Yes
Research - Fixed Income
No Yes
Screener - Stocks
Yes Yes
Screener - ETFs
Yes Yes
Screener - Mutual Funds
No Yes
Screener - Options
No Yes
Screener - Bonds
No Yes
Misc - Portfolio Builder
Yes Yes
Misc - Portfolio Allocation
No Yes
Research 2 4.5
Winner check_circle

Stock Research

Feature SogoTrade Merrill Edge
Stock Research - Reports
1 3
Stock Research - Earnings
No Yes
Stock Research - Insiders
No Yes
Stock Research - Metric Comp
No Yes
Stock Research - SEC Filings
Yes Yes
Stock Research - Social
No No
Stock Research - Balance Sheet
Yes Yes
Stock Research - Cash Flows
No Yes
Stock Research - News
Yes Yes
Stock Research - ESG
No Yes
Research 2 4.5
Winner check_circle

ETF Research

Feature SogoTrade Merrill Edge
ETFs - Strategy Overview
Yes Yes
ETFs - Top 10 Holdings
Yes Yes
ETFs - Sector Exposure
No Yes
ETFs - Risk Analysis
No Yes
ETFs - Performance Analysis
Yes Yes
ETFs - Ratings
No Yes
ETFs - Morningstar StyleMap
No Yes
ETFs - Reports
No Yes
Research 2 4.5
Winner check_circle

Mutual Fund Research

Feature SogoTrade Merrill Edge
Mutual Funds - Strategy Overview
No Yes
Mutual Funds - Prospectus
No Yes
Mutual Funds - Reports
No Yes
Mutual Funds - Fees Breakdown
No Yes
Mutual Funds - Top 10 Holdings
No Yes
Mutual Funds - Asset Allocation
No Yes
Mutual Funds - Sector Allocation
No Yes
Mutual Funds - Country Allocation
No Yes
Mutual Funds - StyleMap
No Yes
Mutual Funds - 3rd Party Ratings
No Yes
Research 2 4.5
Winner check_circle

Options Trading

Feature SogoTrade Merrill Edge
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
22 69
Option Chains - Greeks
5 5
Option Chains - Quick Analysis
Yes Yes
Option Analysis - P&L Charts
Yes Yes
Option Probability Analysis
Yes Yes
Option Probability Analysis Adv
Yes No
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
Yes Yes
Option Positions - Rolling
Yes No
Option Positions - Grouping
No Yes
Platforms & Tools 3 4
Winner check_circle

Beginners

Feature SogoTrade Merrill Edge
Has Education - Stocks
Yes Yes
Has Education - ETFs
Yes Yes
Has Education - Options
Yes Yes
Has Education - Mutual Funds
No Yes
Has Education - Fixed Income
No Yes
Has Education - Retirement
No Yes
Paper Trading
Yes No
Videos
No Yes
Webinars (Monthly Avg)
0 0
Webinars (Archived)
No No
Live Seminars
No Yes
Progress Tracking
No No
Interactive Learning - Quizzes
No Yes
Investor Magazine
No Yes
Education 2 4.5
Winner check_circle

Banking

Feature SogoTrade Merrill Edge
Retail Locations
0 4400
Member FDIC
No Yes
Checking Accounts
No Yes
Savings Accounts
No Yes
Credit Cards
No Yes
Debit Cards
No Yes
Mortgage Loans
No Yes
No Fee Banking
No No
Banking 0.5 5
Winner check_circle

Overall

Feature SogoTrade Merrill Edge
SogoTrade Review Merrill Edge Review
Overall 3 4
Winner check_circle
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. With options, the base fees charged are $6.95 (Merrill Edge) and $4.88 (SogoTrade). Each option contract then costs $0.75 at Merrill Edge and $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. Merrill Edge alongside SogoTrade offer clients Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, SogoTrade boasts an offering of 11784 mutual funds compared to Merrill Edge's 3709 available funds.

Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. SogoTrade offers virtual trading 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 offered by Merrill Edge while SogoTrade offers none of these.

Overall, between Merrill Edge and SogoTrade, Merrill Edge is the winner.

Merrill Edge Review
SogoTrade Review


All pricing data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. 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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