The StockBrokers.com annual broker review assesses more than a dozen 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. Ally Invest charges more than SogoTrade for placing regular stock trades ($4.95 and $4.88, respectively). Looking at trading options, SogoTrade's base fee is $4.88 while Ally Invest's is $4.95. Option contracts are pricier at Ally Invest, costing $0.65 versus $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 boasts an offering of 13360 mutual funds compared to Ally Invest's 10264 available funds. 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 has virtual trading, Ally Invest doesn't. For mobile trading, SogoTrade along with Ally Invest both support 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 available to clients of Ally Invest while SogoTrade offers customers none of these. On the whole, when it comes to 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.
Overall, Ally Invest takes the upper hand with 4.00 stars over SogoTrade's 3.00 stars.