
The best alternatives to SogoTrade are
- TradeStation - US stockbroker
- Interactive Brokers - US discount broker
- ChoiceTrade - US-based stockbroker
Let's see in a bit more detail how the SogoTrade alternatives compare to SogoTrade and each other:
SogoTrade | TradeStation | Interactive Brokers | ChoiceTrade | |
---|---|---|---|---|
Overall score | 4.2 | 4.7 | 4.9 | 4.1 |
Fees score | 3.9 stars | 4.1 stars | 4.1 stars | 4.4 stars |
Account opening score | 5.0 stars | 5.0 stars | 3.4 stars | 4.4 stars |
Deposit and withdrawal score | 1.8 stars | 2.3 stars | 3.5 stars | 0.8 stars |
Web platform score | 3.0 stars | 4.5 stars | 4.5 stars | 1.5 stars |
Markets and products score | 1.7 stars | 2.7 stars | 5.0 stars | 2.1 stars |
Open account | Open account | Open account |
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
- TradeStation is recommended for traders focusing on us markets and buy-and-hold investing
- Interactive Brokers is recommended for traders looking for low fees and a professional trading environment
- ChoiceTrade is recommended for stock and options traders looking for low trading fees and focusing on the us market
Important factors of finding SogoTrade alternatives
So far BrokerChooser has reviewed 78 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
SogoTrade
SogoTrade is a US stockbroker, which was founded in 1986. The company is regulated by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA).
Although it is not listed on any stock exchanges and does not have a banking background, SogoTrade is considered safe because it has a long track record and it is regulated by top-tier regulators. Clients are eligible for the SIPC investor protection scheme which offers up to $500,000 (cash up to $250,000) per account.
Recommended for stock and options traders with a us focus who value great customer service
Pros | Cons |
---|---|
• Low stock and ETF fees | • High non-trading fees |
• Wide range of research tools | • Limited product portfolio |
• Relevant and fast customer service | • Not user-friendly desktop trading platform |
Fees
SogoTrade has low stock, ETF, and options fees. The inactivity fee is also low, charged only after a year, and if your account balance is under $100. On the other hand, the margin rates are high and the fees for wire withdrawals are high.
Pros | Cons |
---|---|
• Low trading fees | • High margin rates |
• Low stock and ETF fees | • High fee for wire withdrawal |
• Low inactivity fee |
SogoTrade | TradeStation | Interactive Brokers | ChoiceTrade | |
---|---|---|---|---|
US stock | $4.9 | $1.0 | $1.0 | $0.0 |
UK stock | - | - | $7.8 | - |
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, but it sorely lacks user-friendliness.
Pros | Cons |
---|---|
• Fast | • Not user-friendly |
• Fully digital | |
• No minimum deposit |
SogoTrade | TradeStation | Interactive Brokers | ChoiceTrade | |
---|---|---|---|---|
Minimum deposit | $0 | $1 | $0 | $100 |
Time to open account | 1 day | 1 day | 1-3 days | 1-3 days |
Learn more about SogoTrade minimum deposit here.
Deposit and withdrawal
You can transfer money only by bank transfer and non-US clients are charged $50, while US clients are charged $25 for wire withdrawals. As a plus, the deposit and the ACH withdrawals are free.
Pros | Cons |
---|---|
• No deposit fee | • Only one account base currency |
• Free ACH withdrawal | • Slow withdrawal - over 3 days |
• High fee for wire withdrawal |
SogoTrade | TradeStation | Interactive Brokers | ChoiceTrade | |
---|---|---|---|---|
Bank transfer | Yes | Yes | Yes | Yes |
Credit/debit card | No | No | No | No |
Electronic wallets | No | No | No | No |
Withdrawal fee | $0 | $0 | $0 | $5 |
Web trading platform
SogoTrade's web trading platform is user-friendly, has a good search function, and offers a variety of order types. However, it's not customizable, it doesn't look particularly nice, and doesn't have 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 | TradeStation | Interactive Brokers | ChoiceTrade | |
---|---|---|---|---|
Web platform score | 3.0 stars | 4.5 stars | 4.5 stars | 1.5 stars |
Mobile platform score | 4.5 stars | 4.8 stars | 3.8 stars | 3.5 stars |
Desktop platform score | 0.9 stars | 2.5 stars | 3.0 stars | 2.8 stars |
Learn more about SogoTrade's web trading platform in the detailed SogoTrade review.
Markets and products
At SogoTrade, you can trade with US stocks, ETFs, options, and cryptos. However, the offered assets cover only the US market and popular asset classes, such as bonds or mutual funds, are not provided.
SogoTrade | TradeStation | Interactive Brokers | ChoiceTrade | |
---|---|---|---|---|
Stock | Yes | Yes | Yes | Yes |
ETF | Yes | Yes | Yes | Yes |
Forex | No | No | Yes | No |
Fund | No | Yes | Yes | No |
Bond | No | No | Yes | No |
Options | Yes | Yes | Yes | Yes |
Futures | No | Yes | Yes | No |
CFD | No | No | Yes | No |
Crypto | Yes | Yes | Yes | No |
Verdict
SogoTrade is a great broker for US stock and options trading.
The stock and ETF fees are low. You can use a wide range of research tools, including a wide range of analytical tools. Lastly, it also has great customer support which gives fast and relevant answers.
On the negative side, SogoTrade charges $50 per year inactivity fee and high wire withdrawal fees, $50 for non-US clients and $25 for US clients. The product offer is limited, you can trade only with stock, ETF, and options. The desktop trading platform can be improved as it is not user-friendly-structured and misses essential tools, like price alerts.
As the account opening is seamless, and the trading fees are low, feel free to try it.
SogoTrade | |
---|---|
Summary | SogoTrade is a US-based 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 with a US focus who value great customer service |
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; 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 | • Not user-friendly deposit and withdrawal |
• Low stock and ETF fees | • No forex trading |
• High-quality educational tools | • Mediocre customer service |
Fees
TradeStation has low trading fees, and you can choose from multiple fee structures. On the negative side, withdrawals can be costly.
Pros | Cons |
---|---|
• Low trading fees | • Withdrawal fee |
• Low stock and ETF fees | |
• Multiple fee structures to choose from |
TradeStation | SogoTrade | |
---|---|---|
Apple benchmark fee | $2.3 | $10.1 |
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. On the other hand, USD is the only available base currency (except for futures accounts).
Pros | Cons |
---|---|
• Fast | • Only USD accounts (unless you trade futures) |
• Fully digital | |
• User-friendly |
TradeStation | SogoTrade | |
---|---|---|
Minimum deposit | $1 | $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; and the fee for wire transfer withdrawals is high.
Pros | Cons |
---|---|
• No deposit fee | • Credit/Debit card not available |
• Deposit and withdrawal in cryptocurrencies | • High fee for wire withdrawal |
• Only USD accounts (unless you trade futures) |
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, but it lacks price alerts.
Pros | Cons |
---|---|
• User-friendly | • No price alerts |
• Clear fee report | |
• Two-step (safer) login |

TradeStation | SogoTrade | |
---|---|---|
Web platform score | 4.5 stars | 3.0 stars |
Mobile platform score | 4.8 stars | 4.5 stars |
Desktop platform score | 2.5 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 | |
---|---|---|
Stock | Yes | Yes |
ETF | Yes | Yes |
Forex | No | No |
Fund | Yes | No |
Bond | No | No |
Options | Yes | Yes |
Futures | Yes | No |
CFD | No | No |
Crypto | Yes | Yes |
Verdict
TradeStation is a great US broker.
The web and mobile platforms are very user-friendly with many functions. It also offers low stock and ETF trading fees. On top of that, TradeStation's education materials are well-structured and high quality.
On the other hand, the deposit and withdrawal functions are not user-friendly as you can only use bank transfer. There is no forex trading, and customer service has room for improvement.
Feel free to try TradeStation if you prefer trading on US markets. We recommend it for buy and hold investors with at least some experience.
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 |
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SogoTrade alternatives
Interactive Brokers
Interactive Brokers was founded in 1978 and is one of the biggest US-based discount brokers. 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).
As it has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. Having a long track record and publicly disclosed financials while being listed on a stock exchange are also great signs for its safety.
Recommended for traders looking for low fees 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 | • High forex fees |
Fees
Interactive Brokers has low trading fees; for US clients, stock and ETF trading is free. On the negative side, there is a high inactivity fee for non-US clients.
Pros | Cons |
---|---|
• Low trading fees | • Inactivity fee |
• Free stock and ETF trading for US clients | |
• Low margin rates |
Interactive Brokers | SogoTrade | |
---|---|---|
Apple benchmark fee | $2.3 | $10.1 |
Vodafone benchmark fee | $16.3 | - |
EURUSD benchmark fee | $11.2 | - |
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 | • Confusing messages throughout the process |
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 many account base currency options 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 each month free |
Interactive Brokers | SogoTrade | |
---|---|---|
Bank transfer | Yes | Yes |
Credit/debit card | No | No |
Electronic wallets | No | No |
Withdrawal fee | $0 | $0 |
Web trading platform
Interactive Brokers's web platform is simple and easy to use, even for beginners. On the negative side, it is not customizable.
Pros | Cons |
---|---|
• User-friendly | • Limited customizability (for charts, workspace) |
• Clear fee report | |
• Two-step (safer) login |

Interactive Brokers | SogoTrade | |
---|---|---|
Web platform score | 4.5 stars | 3.0 stars |
Mobile platform score | 3.8 stars | 4.5 stars |
Desktop platform score | 3.0 stars | 0.9 stars |
Learn more about Interactive Brokers's web trading platform in the detailed Interactive Brokers review.
Markets and products
Through Interactive Brokers, you can access an extremely wide range of markets, and all product types are available.
Interactive Brokers | SogoTrade | |
---|---|---|
Stock | Yes | Yes |
ETF | Yes | Yes |
Forex | Yes | No |
Fund | Yes | No |
Bond | Yes | No |
Options | Yes | Yes |
Futures | Yes | No |
CFD | Yes | No |
Crypto | Yes | Yes |
Verdict
Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker mainly for advanced traders.
On the plus side, IB has low fees, a vast range of available markets and products, and diverse research tools.
There are some drawbacks, though: there is a high forex fees, and the account opening process is complicated. 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 could be 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 | 4.1 stars |
Recommended for | Traders looking for low fees and a professional trading environment |
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, the 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 | $10.1 |
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 | 4.5 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 | |
---|---|---|
Stock | Yes | Yes |
ETF | Yes | Yes |
Forex | No | No |
Fund | No | No |
Bond | No | No |
Options | Yes | Yes |
Futures | No | No |
CFD | 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 | 4.4 stars |
Recommended for | Stock and options traders looking for low trading fees and focusing on the US market |
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 |
TradeStation | US stockbroker | Traders focusing on US markets and buy-and-hold investing |
Interactive Brokers | US discount broker | Traders looking for low fees and a professional trading environment |
ChoiceTrade | US-based stockbroker | Stock and options traders looking for low trading fees and focusing on the US market |
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