Using data from the StockBrokers.com 2017 Broker Rankings
, we can compare SogoTrade vs Ally Invest 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. SogoTrade charges more than Ally Invest for placing regular stock trades ($5.00 and $4.95, respectively). Looking at trading options, Ally Invest's base fee is $4.95 while SogoTrade's is $5.00. SogoTrade's per contract rate of $0.50 is less than Ally Invest which charges $0.65. 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. Ally Invest supports Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading while SogoTrade supports Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Ally Invest trails SogoTrade by 2,084.00 total mutual funds, with SogoTrade offering 12222 and Ally Invest offering 10138. And, commission free ETFs deserve a comparison, which in this case means trading a possible 0 commission free ETFs at both brokers.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. SogoTrade and Ally Invest both offer virtual trading. For mobile trading, Ally Invest offers the iPhone App and Android App while SogoTrade offers the 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, Debit Cards, Credit Cards and Mortgage Loans at Ally Invest while customers at SogoTrade can have none of these. All factors considered, when it comes to platform tools, research, and mobile trading, both SogoTrade and Ally Invest found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2017.
Overall, Ally Invest takes the upper hand with 4.00 stars over SogoTrade's 3.00 stars.