The StockBrokers.com 2017 Brokerage Review assessed 16 different brokers over six months, surfacing the best online stock brokers
. This review compares Scottrade vs SogoTrade. Is Scottrade or SogoTrade a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. 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). Each option contract then costs $0.70 at Scottrade and $0.50 at SogoTrade. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews
For our next comparison of these two brokers, being able to trade the way you want is a must. Scottrade and SogoTrade provide clients with Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Scottrade boasts an offering of 13599 mutual funds compared to SogoTrade's 12222 available funds. Commission free ETFs can also be a nice plus, which for investors means access to 0 commission free ETFs at both brokers.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Scottrade and SogoTrade both offer virtual trading. For mobile trading, Both Scottrade and SogoTrade offer clients access to an iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Clients can have Checking Accounts, Savings Accounts and Debit Cards at Scottrade while customers at SogoTrade can have none of these. On the whole, when it comes to 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 comes out on top with 4.00 stars over SogoTrade's 3.00 stars.