Using data from the StockBrokers.com 2017 Broker Rankings
, we can compare Scottrade vs SogoTrade to determine which broker is better for you. Our database includes thousands of data points on everything from research to trading tools. Let's take a closer look at Scottrade and SogoTrade.
First we will break down the commission charges of both brokers for placing stock and options trades. Scottrade, with its regular stock trades costing $6.95, is more expensive than SogoTrade's rate of $5.00 per trade. With options, the base fees charged are $6.95 (Scottrade) and $5.00 (SogoTrade). At a difference of $0.20 per contract, SogoTrade's per contract rate of $0.50 is less than Scottrade which charges $0.70. Note that flat rate trading is not available everywhere though, so it is important to read the complete commission notes for each broker to know the full breakdown (go to any stock broker review
page, then scroll down to the "Commission Notes" section).
Trading fees aside, having access to trade what you want is also an important consideration. Scottrade and SogoTrade provide clients with Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Scottrade boasts an offering of 13599 compared to SogoTrade's 12222 available funds. And, commission free ETFs deserve a mention, which for investors means access to 0 funds at both brokers.
Finally, by looking at the most popular features and offerings of each broker, we can really see the differences between the two. Scottrade alongside SogoTrade have virtual trading. For mobile trading, Both Scottrade and SogoTrade offer clients access to an iPhone App, iPad App and Android App. Online banking is also used by many clients, and multiple brokerages provide these services. Checking Accounts, Savings Accounts and Debit Cards are offered by Scottrade while SogoTrade offers none of these. All things considered, when it comes to platform tools, research, and trading via smartphone, Neither Scottrade nor SogoTrade were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Scottrade comes out on top with 4.00 stars over SogoTrade's 3.00 stars.