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. For options trading, Scottrade has a base fee of $6.95, and SogoTrade a base fee of $4.88. 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 is a wash in this comparison as both Scottrade and SogoTrade offer 0 commission free ETFs.
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 and SogoTrade both have a iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Clients can have Checking Accounts, Savings Accounts and Debit Cards at Scottrade while customers at SogoTrade can have none of these. All factors considered, when it comes to platform tools, research, and mobile trading, 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 3.50 stars.