Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker
. Yielding a database of over 5,000 data points, let's compare Robinhood vs SogoTrade.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular 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, Robinhood has a base fee of $N/A, and SogoTrade a base fee of $4.88. Option contracts are pricier at Robinhood, costing $N/A versus $0.50 at SogoTrade. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review
Next to commission rates, being able to trade what you want is important. SogoTrade supports Stock Trading, Options Trading and Mutual Funds while Robinhood supports Stock Trading. Looking at mutual funds, SogoTrade boasts an offering of 13360 mutual funds compared to Robinhood's 0 available funds. Commission free ETFs can also be valuable for customers, which in this case means trading a possible 0 commission free ETFs at both brokers.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. SogoTrade makes virtual trading available to clients, while Robinhood does not. Taking a look at mobile trading, Robinhood along with SogoTrade both support the iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Banking is not popular with Robinhood and SogoTrade as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable. On the whole, when it comes to tools, research, and mobile trading, neither Robinhood nor SogoTrade were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, SogoTrade comes out on top with 3.00 stars over Robinhood's 2.50 stars.