Comparison Ally Invest vs SogoTrade
A dozen different brokers were comparatively assessed on InvestorGreg.net, and the best online trading brokers were found. Here, we compare Ally Invest vs SogoTrade. Which of them: Ally Invest or SogoTrade a better online broker?
First of all, we’ll compare the commission fees of the two brokers. The commission fee of Ally Invest on regular transactions of the stock exchange is $4.95, and SogoTrade has a commission fee of $2.88. Let’s analyze the commission fees on trading options. Ally Invest has a commission fee of $4.95 + $0.65 per contract, SogoTrade has a commission fee of $2.88 + 50c. You can read more detailed information on commission fees in the online broker reviews.
It is important for investors to know what types of online trading broker supports and what tools they can use for trading. Let’s compare them. Stocks Trading, Penny Stocks Trading, Options Trading, ETFs Trading, Mutual Funds Trading, Bonds Trading, Forex Trading, Futures Trading, Robo Advisor are provided to customers by Ally Invest and Stocks Trading, Options Trading, ETFs Trading, Mutual Funds Trading, Bonds Trading, Futures Trading, Crypto Trading are provided by SogoTrade. Concerning the platforms, Ally Invest uses Web Platform, Android App, iOS App, while SogoTrade uses Desktop Platform (Windows), Desktop Platform (MacOS), Web Platform, Android App, iOS App.
Finally, by comparing the two online brokers, we want to pay attention to the year and country of establishing, the regulatory authorities and the possibility of withdrawing funds. Ally Invest was established in 2005 in United States, and it is regulated by CFTC, NFA. And SogoTrade was established in 1986 in United States, and it is regulated by SEC and FINRA. We can withdraw funds from Ally Invest with the help of Bank Wire, Visa/Mastercard, and its withdrawal fee is $0. And SogoTrade provides the ability to withdraw funds with the help of Bank Wire, and its withdrawal fee is $25 for US wire transfer. The time for withdrawal in Ally Invest is 3-5 days, and that one in SogoTrade is 3 business days.
Overall, Ally Invest boasts 3.7 stars versus SogoTrade 4 stars.