Compare IC Markets vs SogoTrade


Online brokers compared for fees, trading platforms, safety and more. See how IC Markets stacks up against SogoTrade!

IC Markets vs SogoTrade
overall rating
4.4
4.1
overall pros
  • Low forex fees
  • Easy and fast account opening
  • Free deposit and withdrawal
  • Low stock and ETF fees
  • Wide range of research tools
  • Relevant and fast customer service
overall cons
  • No investor protection
  • No negative balance protection
  • Only forex, CFD and crypto trading
  • High non-trading fees
  • Limited product portfolio
  • Not user-friendly desktop trading platform
fees
4.0
  • Low trading fees
  • Low non-trading fees
  • Low forex fees
  • High financing rate for CFDs
4.0
  • Low trading fees
  • Low stock and ETF fees
  • Low inactivity fee
  • High financing/margin rates
  • High fee for wire withdrawal
account opening
5.0
  • Fast
  • Fully digital
  • Low minimum deposit
5.0
  • Fast
  • Fully digital
  • No minimum deposit
  • Not user-friendly
deposit and withdrawal
5.0
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
2.0
  • No deposit fee
  • Free ACH withdrawal
  • Only one account base currency
  • Slow withdrawal - over 3 days
  • High fee for wire withdrawal
web trading platform
3.0
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Order confirmation
  • No two-step (safer) login
  • No price alerts
  • Poor design
3.0
  • User-friendly
  • Good search function
  • Good variety of order types
  • No clear fee report available
  • No two-step (safer) login
  • Limited customizability (for charts, workspace)
mobile trading platform
4.0
  • User-friendly
  • Good search function
  • Price alerts
  • No two-step (safer) login
  • No Touch/Face ID login
  • No order confirmation
5.0
  • User-friendly
  • Good search function
  • Good variety of order types
  • No two-step (safer) login
desktop trading platform
3.0
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Price alerts
  • No two-step (safer) login
  • Poor design
1.0
  • Good customizability (for charts, workspace)
  • Not user-friendly
  • No clear fee report available
  • No two-step (safer) login
  • Available only for Windows
markets and products
2.0
  • Forex
  • CFD
  • Crypto
2.0
  • Stock
  • ETF
  • Options
  • Crypto
research
4.0
  • Trading ideas
  • Quality news flow
  • User-friendly
  • No fundamental data available
4.0
  • Trading ideas
  • Data on asset fundamentals
  • Great SogoPlay tool for options strategies
  • Bad charting tools
customer service
4.0
  • Phone support
  • Live chat
  • Fast response time
  • Slow and irrelevant live chat
4.0
  • Phone support
  • Live chat
  • Fast response time
  • No 24/7 support
education
5.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
1.0
  • Educational articles about many topics
  • No demo account
  • No educational videos
  • Hard to navigate
  • Majority of clients belong to a top-tier financial authority
  • In operation for a long time
  • No investor protection
  • No negative balance protection
  • Does not hold a banking license
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Financial information is publicly available
  • Does not hold a banking license
  • Not listed on stock exchange
recommended for Forex traders who value easy account opening and free deposit/withdrawal options Stock and options traders with a US focus who value great customer service
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