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 Ustocktrade and SogoTrade. 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 Ustocktrade and SogoTrade
stack up against each other on these points.
To start, we will consider the minimum investment required for both applications. In
how much does one need to invest to use the service?
Both Ustocktrade and SogoTrade have the same minimum of $0. So they are equal in this requirement.
Next I'll consider cost per trade for both brokers.
Out of the two, Ustocktrade is cheaper per trade at $1.00 than SogoTrade at $4.88/trade.
When it comes to having support for mutual funds, there is a clear division between Ustocktrade and SogoTrade. SogoTrade does have support for mutual funds, while Ustocktrade does not.
|Review||Ustocktrade Review||SogoTrade Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Amount of Deals|
|Promotions||None||Get 100 Free Trades|
|Stock Trades||$1/trade + $1/monthly||$4.88/trade ($2.88/trade with a 50-trades package)|
|Options Trades||N/A||$4.88/trade + $0.50/contract|
|Investment Types||Stocks, ETFs||Stocks, Penny Stocks, ETFs, Mutual Funds, Bonds|
|Access||Website, iOS App, Android App||Website, iOS App, Android App|
|Broker Assisted Trade|
|No Fee ETFs|
|Sign Up||Sign Up|
Ustocktrade is an interesting concept, creating a truly community-based investment platform. It may be ideal for new and small investors, as well as early adopters, since the fees are very low and there are no account minimums. However, the service will probably be of very limited use to larger, more sophisticated investors.
Active traders are a better fit to SogoTrade's pricing model even if it lacks the features that options traders really need.