Can you trade options at SogoTrade?
Options trading is increasingly popular, but it's still something of a niche product aimed at more experienced traders, so not all brokers offer it and trading conditions can differ widely.
SogoTrade offers options trading, but there are better alternatives when it comes to trading fees, market access or platform quality. See the best choices or read on for detailed comparisons.
I've tested dozens of brokers in recent years, including their options trading features. SogoTrade left me with mixed feelings; here's why:
- It has a below-average options trading score based on fees, products and UX.
- SogoTrade offers access to 3 options markets.
- Options trading fees at SogoTrade are low.
- Trading platform and research quality make a difference.
- Consider the best options brokers as an alternative to SogoTrade.
Before we begin, let's see if SogoTrade is available in your country
SogoTrade has a below-average options trading score
To assess whether SogoTrade is a great place to trade options, we calculated a comprehensive options score that takes into account options trading fees, the potential number of options products available, and the quality of the broker's trading platform (including charting and other research tools).
SogoTrade's overall options score of 2.7 stars is considered below average among the brokers we cover that offer options trading. Here's how SogoTrade scored against some close rivals:
| Broker | Options score |
|---|---|
| SogoTrade | 2.7 /5 |
| ChoiceTrade | 3.2 /5 |
| TradeStation | 3.7 /5 |
Need a refresher course on options trading? Here's a high-level overview of all you need to know about trading options. If you're already familiar with the basics, you can dive right into options trading strategies or the niceties of options pricing.
Still lacking options trading mileage? We suggest you start with our introduction to options trading for beginners.
SogoTrade has access to 3 options markets
| Broker | Options exchanges (#) |
|---|---|
| SogoTrade | 3 |
| ChoiceTrade | 5 |
| TradeStation | 10 |
Options fees at SogoTrade are low
In the table below, we listed options trading fees (calculated in USD terms) at SogoTrade and some of its competitors for trading 10 options contracts.
| Broker | US stock options | US stock index options |
|---|---|---|
| SogoTrade | $5.0 | $5.0 |
| ChoiceTrade | $4.0 | $10.0 |
| TradeStation | $11.0 | $11.0 |
Please note that some brokers don't charge a separate fee for closing an options trade. In these cases, in order to represent this discount properly, we calculated with just half of the opening fee, because most other brokers charge for both the opening and closing transactions.
So what's all the fuss about fees? Aren't they just a tiny fraction of the value of a typical trade? Well, they may be, but differences in fees among brokers can still be substantial. Of the 100+ brokers we cover, the cheapest one charges $5 for trading 10 US stock index options contracts, while the most expensive one charges $35. Even if you're just a casual trader who does one or two options deals a month, the difference in trading fees can add up to hundreds of dollars a year. Just think of all the goodies you can buy with that money!
Trading platform and research quality make a difference
Trading fees and product selection are only part of the story when it comes to options trading.
- A great trading interface (especially on desktop) with user-friendly search and order functions, good charting capabilities and quality research material is an option trader's best friend.
- Costs don't stop at trading fees; if you trade often and want access to your trading profits, withdrawal fees can sting.
In the table below, you can check how SogoTrade compares to some close competitors in trading platform quality and other features.
| Broker | Research score |
|---|---|
| SogoTrade | 3.5 /5 |
| ChoiceTrade | 3.3 /5 |
| TradeStation | 4.3 /5 |
See some great alternatives to SogoTrade
As we have seen, SogoTrade is not ideal for options trading; to find a better alternative, we suggest you check out our top ten list of the best options brokers in your country.
Alternatively, if you want a broader comparison or have some specific other brokers in mind, you can use our broker comparison tool to size up options brokers along many different criteria.
Check out this short video for a behind-the-scenes peek into how our experts personally test and evaluate brokers.
Further reading
- Options fees at SogoTrade
- Stock options trading conditions at SogoTrade
- Stock index options trading conditions at SogoTrade
- ETF options trading conditions at SogoTrade
Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.
