The best alternatives to SogoTrade are
- ChoiceTrade - US-based stockbroker
- TradeStation - US stockbroker
- tastyworks - US options and stockbroker
- Interactive Brokers - International broker providing all asset classes
Let's see in a bit more detail how the SogoTrade alternatives compare to SogoTrade and each other:
| SogoTrade | ChoiceTrade | TradeStation | tastyworks | Interactive Brokers | |
|---|---|---|---|---|---|
| Overall score | 4.2 stars | 4.1 stars | 4.7 stars | 4.7 stars | 4.9 stars |
| Fees score | 3.9 stars | 3.9 stars | 4.1 stars | 4.2 stars | 4.5 stars |
| Account opening score | 5.0 stars | 4.2 stars | 5.0 stars | 5.0 stars | 3.2 stars |
| Deposit and withdrawal score | 1.8 stars | 0.8 stars | 2.2 stars | 1.9 stars | 3.0 stars |
| Web platform score | 3.0 stars | 1.5 stars | 3.8 stars | 3.4 stars | 3.8 stars |
| Markets and products score | 2.2 stars | 2.3 stars | 3.2 stars | 3.3 stars | 5.0 stars |
| Visit broker | Visit broker | Visit broker | Visit broker |
Why are these brokers considered good alternatives to SogoTrade? There are many areas based on which SogoTrade can be compared with others. When we say a given online broker is a good alternative to SogoTrade we mean these brokers are comparable in the following areas:
- The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
- The type of clients they target, i.e. beginners, experienced investors, or day traders.
SogoTrade alternatives recommendations
Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:
- SogoTrade is recommended for stock and options traders with a us focus who value great customer service
- ChoiceTrade is recommended for stock and options traders looking for low trading fees and focusing on the us market
- TradeStation is recommended for traders focusing on us markets and buy-and-hold investing
- tastyworks is recommended for options and futures traders focusing on us markets
- Interactive Brokers is recommended for traders looking for broad market access and a professional trading environment
Important factors of finding SogoTrade alternatives
So far BrokerChooser has reviewed 102 online brokers in detail, which gives this comparison a solid starting point.
Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we
- open a live account
- check over 100 criteria, with weighting based on readers' preferences
- refresh data regularly
Whether SogoTrade or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:
Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. SogoTrade is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost SogoTrade alternative.
Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At SogoTrade this is not a problem as you can have it ready on the same day you registered.
Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you cannot make a deposit with your credit card at SogoTrade, some alternatives might allow you to do that.
Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.
Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given SogoTrade alternative is a must.
Now let's dive into the details of how SogoTrade and its alternatives perform in the most important areas!
SogoTrade alternatives
ChoiceTrade
ChoiceTrade is a US-based stockbroker founded in 2000. The broker is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) and it is also a member of SIPC. SIPC membership ensures that clients are eligible for the SIPC investor protection scheme, which protects assets up to $500,000 (cash up to $250,000) per account.
ChoiceTrade is considered safe because it has a long track record, it is regulated by top-tier regulators and it discloses its annual financial statements.
Recommended for stock and options traders looking for low trading fees and focusing on the us market
| Pros | Cons |
|---|---|
| • Commission-free listed stock and ETF trades | • High non-trading fees |
| • Fast and easy account opening | • Not user-friendly withdrawal |
| • User-friendly mobile trading platform | • Limited product portfolio |
Fees
ChoiceTrade charges low trading fees and you can trade listed stocks and ETFs with no commission. On the flip side, non-trading fees are high.
| Pros | Cons |
|---|---|
| • Low trading fees | • Withdrawal fee |
| • Commission-free stock trading | • Inactivity fee |
| ChoiceTrade | SogoTrade | |
|---|---|---|
| Apple benchmark fee | $0.3 | $6.0 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Opening an account at ChoiceTrade is easy, fast and fully digital for both US and international clients.
| Pros | Cons |
|---|---|
| • Fully digital | None |
| • Low minimum deposit | |
| • User-friendly |
| ChoiceTrade | SogoTrade | |
|---|---|---|
| Minimum deposit | $100 | $0 |
| Time to open account | 1-3 days | 1 day |
If you are interested more in ChoiceTrade minimum deposit, this overview will help you.
Deposit and withdrawal
The deposit process at ChoiceTrade is smooth, but withdrawing funds is cumbersome. Credit/debit cards are not accepted, there is a high withdrawal fee and the process is not user-friendly.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • High withdrawal fee | |
| • Withdrawal is excessively complicated |
| ChoiceTrade | SogoTrade | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $5 | $0 |
Web trading platform
ChoiceTrade's web trading platform offers a clear fee report and a great variety of order types. On the other hand, the design is outdated, there is no two-step login, and the search functions are poor.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Good variety of order types | • Poor search function |
| • Order confirmation | • Design is very outdated |
| ChoiceTrade | SogoTrade | |
|---|---|---|
| Web platform score | 1.5 stars | 3.0 stars |
| Mobile platform score | 3.5 stars | 3.5 stars |
| Desktop platform score | 2.8 stars | 0.9 stars |
Learn more about ChoiceTrade's web trading platform in the detailed ChoiceTrade review.
Markets and products
ChoiceTrade only offers stocks, ETFs and options traded on US and Canadian exchanges.
| ChoiceTrade | SogoTrade | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | No |
| Funds | No | No |
| Bonds | No | No |
| Options | Yes | Yes |
| Futures | No | No |
| CFDs | No | No |
| Crypto | No | Yes |
Verdict
US and international clients can trade listed stocks and ETFs with no commission at ChoiceTrade. The account opening is easy, fully digital and takes 1-2 days. The broker also offers a great and user-friendly mobile trading platform.
On the negative side, the inactivity fee and withdrawal fees for bank transfers are high. The withdrawal process is not user-friendly and only bank transfer is available. The product portfolio is limited, you can only trade stocks, ETFs, and options.
Given that the account opening is seamless and you can trade stocks and ETFs with zero commission, feel free to try it.
| ChoiceTrade | |
|---|---|
| Summary | ChoiceTrade is a US stockbroker, regulated by top-tier US authorities the SEC and FINRA. It is not listed on a stock exchange and does not have a banking backgorund. |
| Fees score | 3.9 stars |
| Recommended for | Stock and options traders looking for low trading fees and focusing on the US market |
SogoTrade alternatives
TradeStation
TradeStation is a US stockbroker founded in 1982. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Clients are eligible for up to $500,000 investor protection per account (including cash up to $250,000).
TradeStation is considered safe because it has a long track record; transparently discloses its financials; and its parent company, the Monex Group, is listed on the Tokyo Stock Exchange.
Recommended for traders focusing on us markets and buy-and-hold investing
| Pros | Cons |
|---|---|
| • Great web and mobile trading platform | • Inconvenient deposit and withdrawal |
| • Low trading fees | • No forex trading |
| • High-quality research and education tools | • Mediocre customer service |
Fees
TradeStation has low trading fees, and you can choose from multiple fee structures. On the negative side, there's an inactivity fee and only ACH is free for withdrawals.
| Pros | Cons |
|---|---|
| • Low trading fees | • Inactivity fee |
| • Low stock and ETF fees / Free stock trading | • WIthdrawal fee for bank wire transfers |
| • Free ACH withdrawals |
| TradeStation | SogoTrade | |
|---|---|---|
| Apple benchmark fee | $0.3 | $6.0 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
TradeStation account opening is fully digital, user-friendly and fast. There are many account types, but USD is the only available base currency (except for futures accounts).
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • User-friendly |
| TradeStation | SogoTrade | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1 day | 1 day |
If you are interested more in TradeStation minimum deposit, this overview will help you.
Deposit and withdrawal
TradeStation's deposit and withdrawal functions are somewhat limited, as you can use only bank transfer; while the fee for wire transfer withdrawals is high.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Deposit/withdrawal in cryptocurrencies | • High fee for wire withdrawal |
| • ACH withdrawal is free |
| TradeStation | SogoTrade | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
TradeStation has a nice-looking, user-friendly web trading platform with a safe login process.
| Pros | Cons |
|---|---|
| • Clear fee report | None |
| • Two-step (safer) login | |
| • Good search function |
| TradeStation | SogoTrade | |
|---|---|---|
| Web platform score | 3.8 stars | 3.0 stars |
| Mobile platform score | 4.8 stars | 3.5 stars |
| Desktop platform score | 2.3 stars | 0.9 stars |
Learn more about TradeStation's web trading platform in the detailed TradeStation review.
Markets and products
TradeStation grants access to a wide variety of US products, but its non-US market coverage is poor. Also, forex and CFDs are not available.
| TradeStation | SogoTrade | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | No |
| Funds | Yes | No |
| Bonds | Yes | No |
| Options | Yes | Yes |
| Futures | Yes | No |
| CFDs | No | No |
| Crypto | Yes | Yes |
Verdict
TradeStation is a great US broker.
The web and mobile platforms are very user-friendly, with many great functions. TradeStation also charges low stock and ETF trading fees. On top of that, its education materials are well-structured and high quality.
On the other hand, deposit and withdrawal functions are not that convenient, as you can only use bank transfers. Among other negatives, there is no forex trading, and customer service has room for improvement.
As there is no minimum deposit, feel free to try TradeStation if you prefer trading on US markets.
| TradeStation | |
|---|---|
| Summary | TradeStation is a US stockbroker regulated by FINRA, a top-tier US regulatory body. |
| Fees score | 4.1 stars |
| Recommended for | Traders focusing on US markets and buy-and-hold investing |
SogoTrade alternatives
tastyworks
tastyworks is a young, up-and-coming US broker focusing on options trading. It is regulated by the top-tier Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Australian Securities and Investments Commission (ASIC) for Australian clients.
The people behind tastyworks are the same experts who built the thinkorswim trading platform, now operated by TD Ameritrade. tastyworks is privately owned; it was established in 2017 and is headquartered in Chicago.
Recommended for options and futures traders focusing on us markets
| Pros | Cons |
|---|---|
| • Low trading fees | • Limited product selection |
| • Great educational materials | • Few deposit and withdrawal options |
| • Good research tools | • No demo account |
Fees
tastyworks has low trading fees and there is no inactivity fee. On the other hand, you have to pay a high withdrawal fee for wire transfers and margin rates are quite high.
| Pros | Cons |
|---|---|
| • No inactivity fee | • High margin rates for stock trading |
| • Free stock trading | • Withdrawal fee for bank (wire) transfers |
| • Low options fees |
| tastyworks | SogoTrade | |
|---|---|---|
| Apple benchmark fee | $0.3 | $6.0 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
tastyworks account opening is user-friendly, fast, fully digital, and involves no minimum deposit.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • No minimum deposit |
| tastyworks | SogoTrade | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1 day | 1 day |
If you are interested more in tastyworks minimum deposit, this overview will help you.
Deposit and withdrawal
tastyworks's deposit and withdrawal functions are easy to use and there's no deposit fee, but you can use only bank transfer, and withdrawals can be expensive especially for non-US clients.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • User-friendly | • High fee for wire withdrawals |
| • Free ACH withdrawals in the US |
| tastyworks | SogoTrade | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
The tastyworks web platform is great for experienced traders, especially for options trading. However, it takes time to figure out how its functions work, and its customizability is limited.
| Pros | Cons |
|---|---|
| • Clear fee report | • Limited customizability (for charts, workspace) |
| • Price alerts | • Not suited for beginners |
| • Two-step (safer) authentication for certain functions |
| tastyworks | SogoTrade | |
|---|---|---|
| Web platform score | 3.4 stars | 3.0 stars |
| Mobile platform score | 4.2 stars | 3.5 stars |
| Desktop platform score | 3.9 stars | 0.9 stars |
Learn more about tastyworks's web trading platform in the detailed tastyworks review.
Markets and products
At tastyworks, you can trade US stocks, ETFs, options and some futures. Other popular asset classes like mutual funds or bonds are missing, as are international assets.
| tastyworks | SogoTrade | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | No |
| Funds | No | No |
| Bonds | No | No |
| Options | Yes | Yes |
| Futures | Yes | No |
| CFDs | No | No |
| Crypto | Yes | Yes |
Verdict
tastyworks is an excellent broker for options trading, but it is a bit complicated if you want to trade stocks only.
tastyworks's trading fees are low, with free stock and ETF trading fees. Its trading platform is aimed at experienced options traders and can be intimidating for beginners. However, its educational and research tools are great for learning. Deposit and withdrawal processes could be better, and a demo account would also be great for practice purposes.
As there is no minimum deposit, no inactivity fee, or monthly fee, and the account opening process is seamless, you should feel free to try it.
| tastyworks | |
|---|---|
| Summary | tastyworks is a US options and stockbroker. It is overseen by FINRA, a top-tier regulatory body. |
| Fees score | 4.2 stars |
| Recommended for | Options and futures traders focusing on US markets |
SogoTrade alternatives
Interactive Brokers
Interactive Brokers, one of the biggest US-based discount brokers, was founded in 1977. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).
Given that the broker has licenses from multiple top-tier regulators, has a long track record and publicly disclosed financials while being listed on a stock exchange; it all points towards IB being a safe service provider.
Interactive Brokers recently launched a new app for global stock trading: read our review of IBKR GlobalTrader.
In addition, Interactive Brokers also has an app you can use for ESG investing: read our review of IMPACT by Interactive Brokers.
Recommended for traders looking for broad market access and a professional trading environment
| Pros | Cons |
|---|---|
| • Low trading fees | • Complicated account opening process |
| • Wide range of products | • Complex desktop trading platform |
| • Many great research tools | • Understaffed customer service |
Fees
Interactive Brokers has low trading fees and the best margin rates in the industry. For US clients, stock and ETF trading is free if they choose the Lite plan.
| Pros | Cons |
|---|---|
| • Low trading fees | None |
| • Free stock and ETF trading for US clients | |
| • Low margin rates |
| Interactive Brokers | SogoTrade | |
|---|---|---|
| Apple benchmark fee | $2.3 | $6.0 |
| Vodafone benchmark fee | $7.6 | - |
| EURUSD benchmark fee | $14.7 | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated and account verification takes relatively long.
| Pros | Cons |
|---|---|
| • Fully digital | • Not user-friendly |
| • No minimum deposit for most account types |
| Interactive Brokers | SogoTrade | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 days | 1 day |
If you are interested more in Interactive Brokers minimum deposit, this overview will help you.
Deposit and withdrawal
Interactive Brokers offers several account base currencies and one free withdrawal per month. The main drawback is that you can only use bank transfer.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Several account base currencies | |
| • First withdrawal free each month |
| Interactive Brokers | SogoTrade | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
The Interactive Brokers web platform is simple and easy to use, even for beginners, however there are some minor but annoying glitches.
| Pros | Cons |
|---|---|
| • User-friendly | • User experience could be better |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | SogoTrade | |
|---|---|---|
| Web platform score | 3.8 stars | 3.0 stars |
| Mobile platform score | 3.5 stars | 3.5 stars |
| Desktop platform score | 3.8 stars | 0.9 stars |
Learn more about Interactive Brokers's web trading platform in the detailed Interactive Brokers review.
Markets and products
At Interactive Brokers, you have access to an extremely wide range of markets and all product types are available.
| Interactive Brokers | SogoTrade | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | Yes | No |
| Funds | Yes | No |
| Bonds | Yes | No |
| Options | Yes | Yes |
| Futures | Yes | No |
| CFDs | Yes | No |
| Crypto | Yes | Yes |
Verdict
Interactive Brokers is one of the biggest US-based lowest spread brokers, regulated by several top-tier regulators globally. We recommend this broker both for advanced traders and for everyday investors who want to have access to many stock markets.
On the plus side, IB offers very low fees, a vast range of markets and products, and diverse research tools.
There are some drawbacks, however. We weren't satisfied with the quality of the customer service and the account opening process is complicated. Unlike the web and mobile platforms, the desktop platform is complex and hard to get a handle on, especially for beginners.
If you have experience navigating complex platforms and enjoy transparent, low-cost trading, Interactive Brokers is a great fit for you.
| Interactive Brokers | |
|---|---|
| Summary | Interactive Brokers is a US discount broker. It is listed on a stock exchange and regulated by several authorities, including top-tier ones like the FCA and the SEC. |
| Fees score | 4.5 stars |
| Recommended for | Traders looking for broad market access and a professional trading environment |
SogoTrade alternatives
SogoTrade
SogoTrade is a US stockbroker that was founded in 1986. The company is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Although it is not listed on any stock exchanges and does not have a banking background, its long track record and regulation by top-tier authorities are all good signs for SogoTrade's safety.
Clients are eligible for Securities Investor Protection Corporation (SIPC) coverage, which offers protection for up to $500,000 (up to $250,000 cash) per account.
Recommended for stock and options traders with a us focus who value great customer service
| Pros | Cons |
|---|---|
| • Low trading fees | • Poor charting tools |
| • Quick and easy account opening | • US-focused product portfolio |
| • Great customer service | • $50 fee for non-US payouts |
Fees
SogoTrade has low options fees, and transactions using ACH are free. On the other hand, margin rates and wire withdrawal fees for non-US customers are high.
| Pros | Cons |
|---|---|
| • Low trading fees | • High margin rates for stock trading |
| • No commission if you use limit orders | • High fee for wire withdrawal |
| SogoTrade | ChoiceTrade | TradeStation | tastyworks | Interactive Brokers | |
|---|---|---|---|---|---|
| US stock | $2.9 | $0.0 | $0.0 | $0.0 | $1.0 |
| UK stock | - | - | - | - | $3.4 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k
Account opening
Opening an account at SogoTrade is fast and fully digital for both US and international citizens. There is a $25 annual fee for IRA accounts.
| Pros | Cons |
|---|---|
| • Fast | • IRA accounts cost $25/year |
| • Fully digital | |
| • No minimum deposit |
| SogoTrade | ChoiceTrade | TradeStation | tastyworks | Interactive Brokers | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $100 | $0 | $0 | $0 |
| Time to open account | 1 day | 1-3 days | 1 day | 1 day | 1-3 days |
Learn more about SogoTrade minimum deposit here.
Deposit and withdrawal
If you live in the US, transactions are free via ACH. Non-US clients on the other hand are charged $50 for wire withdrawals.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Free ACH withdrawal | • Slow withdrawal |
| • High fee for wire withdrawal (non-US) |
| SogoTrade | ChoiceTrade | TradeStation | tastyworks | Interactive Brokers | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $5 | $0 | $0 | $0 |
Web trading platform
SogoTrade's web trading platform is user-friendly, with a good search function and many order types. However, it's not customizable, has a clunky look, and lacks two-step authentication.
| Pros | Cons |
|---|---|
| • User-friendly | • No clear fee report available |
| • Good search function | • No two-step (safer) login |
| • Good variety of order types | • Limited customizability (for charts, workspace) |
| SogoTrade | ChoiceTrade | TradeStation | tastyworks | Interactive Brokers | |
|---|---|---|---|---|---|
| Web platform score | 3.0 stars | 1.5 stars | 3.8 stars | 3.4 stars | 3.8 stars |
| Mobile platform score | 3.5 stars | 3.5 stars | 4.8 stars | 4.2 stars | 3.5 stars |
| Desktop platform score | 0.9 stars | 2.8 stars | 2.3 stars | 3.9 stars | 3.8 stars |
Learn more about SogoTrade's web trading platform in the detailed SogoTrade review.
Markets and products
At SogoTrade, you can trade US stocks, ETFs, options and cryptos, but the offered assets cover only US markets. Some popular asset types, like futures, are not available.
| SogoTrade | ChoiceTrade | TradeStation | tastyworks | Interactive Brokers | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | Yes |
| ETFs | Yes | Yes | Yes | Yes | Yes |
| Forex | No | No | No | No | Yes |
| Funds | No | No | Yes | No | Yes |
| Bonds | No | No | Yes | No | Yes |
| Options | Yes | Yes | Yes | Yes | Yes |
| Futures | No | No | Yes | Yes | Yes |
| CFDs | No | No | No | No | Yes |
| Crypto | Yes | No | Yes | Yes | Yes |
Verdict
SogoTrade is a great broker for US stock and options trading.
Stock and ETF trading fees are average or zero if you use limit orders. Options fees are low. Account opening is user-friendly and swift. Customer support is great, providing fast and relevant answers.
On the negative side, charting tools are extremely basic on all trading platforms. The product offering is limited, e.g. you can't trade futures or non-US markets. SogoTrade also charges high wire withdrawal fees for non-US payouts ($50).
As the account opening is seamless and trading fees are low, feel free to try SogoTrade.
| SogoTrade | |
|---|---|
| Summary | SogoTrade is a US-based stockbroker, regulated by top-tier US authorities like the SEC and FINRA. It is not listed on a stock exchange and does not have a banking background. |
| Fees score | 3.9 stars |
| Recommended for | Stock and options traders with a US focus who value great customer service |
SogoTrade alternatives
Bottom line
Based on our analysis, there are several good alternatives to SogoTrade. They all offer similar products and target similar customers. Here's a recap of the results in a table.
| Broker | Info | Recommended for |
|---|---|---|
| SogoTrade | US-based stockbroker | Stock and options traders with a US focus who value great customer service |
| ChoiceTrade | US-based stockbroker | Stock and options traders looking for low trading fees and focusing on the US market |
| TradeStation | US stockbroker | Traders focusing on US markets and buy-and-hold investing |
| tastyworks | US options and stockbroker | Options and futures traders focusing on US markets |
| Interactive Brokers | International broker providing all asset classes | Traders looking for broad market access and a professional trading environment |
Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.
