Using data from our latest annual broker review which tested more than a dozen different online brokers
over six months, we can compare Scottrade 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. Scottrade charges $6.95 per stock trade which is $2.07 more than SogoTrade which charges customers $4.88 per trade. Looking at trading options, SogoTrade's base fee is $4.88 while Scottrade's is $6.95. Option contracts are pricier at Scottrade, costing $0.70 versus $0.50 at SogoTrade. 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. Both Scottrade and SogoTrade support Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Scottrade boasts an offering of 13599 mutual funds compared to SogoTrade's 13360 available funds. And, commission free ETFs deserve a comparison, which in this case means trading a possible 0 commission free ETFs at both brokers.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Both Scottrade and SogoTrade offer virtual trading. For mobile trading, Scottrade along with SogoTrade both support the iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts, Savings Accounts and Debit Cards are available to clients of Scottrade while SogoTrade offers customers none of these. All factors considered, when it comes to platform tools, research, and mobile trading, unfortunately, neither Scottrade nor SogoTrade received awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Scottrade takes the upper hand with 4.00 stars over SogoTrade's 3.00 stars.