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 more than Robinhood for placing regular stock trades ($4.88 and $0, respectively). Looking at trading options, Robinhood's base fee is $0 while SogoTrade's is $4.88. Each option contract then costs $0.50 at SogoTrade and $0 at Robinhood. 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 offers its clients access to 11784 different mutual funds while Robinhood has 0 available funds, a difference of 11,784.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. SogoTrade has virtual trading, Robinhood doesn't. Taking a look at mobile trading, Both Robinhood and SogoTrade offer clients access to an 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. Neither Robinhood nor SogoTrade offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Overall, between Robinhood and SogoTrade, SogoTrade is the winner