Using data from our latest annual broker review which tested more than a dozen different online brokers
over six months, we can compare Robinhood vs SogoTrade to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing stock and options trades. SogoTrade, with its regular stock trades costing $4.88, is more expensive than Robinhood's rate of $0 per trade. For options trading, SogoTrade has a base fee of $4.88, and Robinhood a base fee of $0. Robinhood's per contract rate of $0 is less than SogoTrade which charges $0.50. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews
Next, investors want to make sure they can trade the investment vehicle they want. Robinhood provides its clients with Stock Trading and Options Trading while SogoTrade provides clients access to Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, SogoTrade offers its clients access to 13360 different mutual funds while Robinhood has 0 available funds, a difference of 13,360. And, commission free ETFs deserve a comparison, Robinhood offers 499 commission free ETFs versus SogoTrade's total of 0.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. SogoTrade offers virtual trading while Robinhood does not. For mobile trading, Both Robinhood and SogoTrade offer clients access to an iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Unfortunately, Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are not available at Robinhood or SogoTrade . All factors considered, when it comes to platform tools, research, and mobile trading, both Robinhood and SogoTrade found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, SogoTrade takes the upper hand with 3.50 stars over Robinhood's 2.50 stars.