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 4,000 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 charges $4.88 per stock trade which is $4.88 more than Robinhood which charges customers $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. 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. Robinhood supports Stock Trading and Options Trading while SogoTrade supports Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, SogoTrade boasts an offering of 6602 mutual funds compared to Robinhood's 0 available funds.
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. Unfortunately, Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are not available at Robinhood or SogoTrade .
Overall, between Robinhood and SogoTrade, SogoTrade is the winner.