Online brokerage services have existed for over 20 years. Trading investments today has never been cheaper. So while the race towards cheap trades (in some cases free) is happening, other functionality is becoming more important when selecting a stock broker.
For this review, I compare SogoTrade and TradeStation. Which one is better depends on your needs? So let's examine the major features first.
We've determined with online brokerages the most critical feature customers care about is the
cost per trade. The second most important feature is the minimum deposit, and the last is if the broker
offers mutual funds. Let's look at how SogoTrade and TradeStation
stack up against each other on these points.
To start, we will consider the minimum investment required for both applications. In other words, how much does one need to invest to use the service? Out of the two, SogoTrade minimum investment of $0 is smaller than the deposit of required by TradeStation.
Next I'll consider cost per trade for both brokers.
Out of the two, SogoTrade is cheaper per trade at $4.88 than TradeStation at $5.00/trade.
Both SogoTrade and TradeStation offer mutual funds. So this feature isn't a clear difference between the stock brokers.
|Review||SogoTrade Review||TradeStation Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Amount of Deals|
|Promotions||Get 100 Free Trades||None|
|Stock Trades||$4.88/trade ($2.88/trade with a 50-trades package)||$5.00/trade|
|Options Trades||$4.88/trade + $0.50/contract||$5.00/trade + $0.50/contract|
|Investment Types||Stocks, Penny Stocks, ETFs, Mutual Funds, Bonds||Stocks, Penny Stocks, ETFs, Mutual Funds, Bonds, Futures|
|Access||Website, iOS App, Android App||Website, iOS App, Android App|
|Broker Assisted Trade|
|No Fee ETFs|
|Sign Up||Sign Up|
Active traders are a better fit to SogoTrade's pricing model even if it lacks the features that options traders really need.
With TradeStation, you can get access to an excellent platform for serious and active traders that was previously available only to brokers. The downsides are that it can be too expensive for some traders, and the service's mobile app is inferior to others.