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SogoTrade vs Scottrade Review

Brandon Reinkensmeyer

Published by Brandon Reinkensmeyer


Thursday, June 1st, 2017

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.
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Overall
Commissions & Fees
Offering of Investments
Platforms & Tools
Research
Customer Service
Mobile Trading
Ease of Use
Education
Order Execution
Banking
Stock Trade Fee (flat)
Options Base Fee
Options Per Contract Fee
Mutual Fund Trade Fee
Broker Assisted Trades Fee
Minimum Deposit
No Inactivity Fees
No Fee IRAs
Stock Trading
Options Trading
Mutual Funds
Forex Trading
Futures Trading
Desktop Platform (Windows)
Web Platform
Virtual Trading
Charting - Drawing Tools
Charting - Indicators / Studies
Option Chains - Total Columns
Watch Lists - Total Fields
iPhone App
iPad App
Android App
Android Tablet App
Apple Watch App
Trading - After-Hours
Trading - Mutual Funds
Trading - Conditional Orders
Trading - Simple Options
Trading - Complex Options
Commission Free ETFs
Mutual Funds (No Load)
Mutual Funds (Total)
# of Easy to Borrow Stocks
Retail Locations
Under $24,999.99
$25,000.00 to $49,999.99
$50,000.00 to $99,999.99
$100,000.00 to $249,999.99
$250,000.00 to $499,999.99
Above $1,000,000.00
$500,000.00 to $999,999.99
Checking Accounts
Savings Accounts
Credit Cards
Debit Cards
Mortgage Loans
No Fee Banking
SogoTrade
Special Offer 100 free trades for 30 days, then $3 trades for 12 months Learn More
SogoTrade Review
 
3
4.5
2.5
3
2
4
2
3
2
1
0.5
 
$5.00
$5.00
$0.50
$25.00
$25.00
$500.00
No
No
 
Yes
Yes
Yes
No
No
 
Yes
Yes
Yes
12
52
22
49
 
Yes
Yes
Yes
Yes
Yes
 
Yes
No
No
Yes
No
 
0
4642
12222
4170
0
 
9.00%
8.00%
7.00%
5.75%
5.25%
4.25%
4.75%
 
No
No
No
No
No
No
Scottrade
Scottrade Review
 
4
3.5
3
4
4.5
4.5
3.5
4.5
4
3.5
4
 
$6.95
$6.95
$0.70
$17.00
$32.00
$2,500.00
Yes
Yes
 
Yes
Yes
Yes
No
No
 
Yes
Yes
Yes
12
67
28
236
 
Yes
Yes
Yes
No
No
 
Yes
No
No
Yes
No
 
0
7213
13599
3500
503
 
8.00%
7.25%
7.00%
6.50%
6.25%
5.25%
5.75%
 
Yes
Yes
No
Yes
No
No

All pricing data was obtained from a published web site as of 2/20/2017 and is believed to be accurate, but is not guaranteed. The StockBrokers.com staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

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