Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker
. Yielding a database of over 5,000 data points, let's compare Scottrade vs SogoTrade.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Scottrade, with its regular stock trades costing $6.95, is more expensive than SogoTrade's rate of $4.88 per trade. With options, the base fees charged are $6.95 (Scottrade) and $4.88 (SogoTrade). Each option contract then costs $0.70 at Scottrade and $0.50 at SogoTrade. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review
Next to commission rates, being able to trade what you want is important. Scottrade and SogoTrade provide clients with Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, SogoTrade trails Scottrade by 239 total mutual funds, with Scottrade offering 13599 and SogoTrade offering 13360. Commission free ETFs can also be valuable for customers, which in this case means trading a possible 0 commission free ETFs at both brokers.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Scottrade alongside SogoTrade offer virtual trading. Taking a look at mobile trading, Scottrade and SogoTrade both have a iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Checking Accounts, Savings Accounts and Debit Cards are available to clients of Scottrade while SogoTrade offers customers none of these. On the whole, when it comes to 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.