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 charges $4.88 per stock trade which is $4.88 more than Robinhood which charges customers $0 per trade. Looking at trading options, Robinhood's base fee is $0 while SogoTrade's is $4.88. Option contracts are pricier at SogoTrade, costing $0.50 versus $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 provides its clients with Stock Trading and Options Trading while SogoTrade provides clients access to Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, SogoTrade offers its clients access to 13360 different mutual funds while Robinhood has 0 available funds, a difference of 13,360. Commission free ETFs can also be valuable for customers, which in this case means trading a possible N/A 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 has virtual trading, Robinhood doesn't. Taking a look at mobile trading, Robinhood and SogoTrade both have a 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 takes the upper hand with 3.50 stars over Robinhood's 2.50 stars.