The StockBrokers.com 2017 Brokerage Review assessed 16 different brokers over six months, surfacing the best online stock brokers
. This review compares SogoTrade vs Ally Invest. Is SogoTrade or Ally Invest a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. SogoTrade, with its regular stock trades costing $5.00, is more expensive than Ally Invest's rate of $4.95 per trade. For options trading, SogoTrade has a base fee of $5.00, and Ally Invest a base fee of $4.95. Each option contract then costs $0.65 at Ally Invest 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. Ally Invest offers clients Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading while SogoTrade offers Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, SogoTrade offers its clients access to 12222 different mutual funds while Ally Invest has 10138 available funds, a difference of 2,084. Commission free ETFs can also be a nice plus, which in this case means trading a possible 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. SogoTrade alongside Ally Invest 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. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Ally Invest while SogoTrade offers none of these. On the whole, when it comes to tools, research, and mobile trading, neither SogoTrade nor Ally Invest were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Ally Invest comes out on top with 4.00 stars over SogoTrade's 3.00 stars.