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Comparison Binomo vs SogoTrade
The InvestorGreg.net broker comparisons assess over a dozen different brokers, finding the best online trading brokers. This comparison page compares Binomo vs SogoTrade. Is Binomo or SogoTrade a better online broker?
Firstly, let’s compare commission fees provided by these brokers for regular transactions. Let’s analyze the commission fees on trading options. Binomo has a commission fee of none - fixed payouts, SogoTrade has a commission fee of $2.88 + 50c. The full online broker reviews contains more detailed information on the brokers’ commission fees.
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. Options Trading are provided to customers by Binomo and Stocks Trading, Options Trading, ETFs Trading, Mutual Funds Trading, Bonds Trading, Futures Trading, Crypto Trading are provided by SogoTrade. As for platforms, Binomo offers Web Platform, Android App, iOS App, while SogoTrade offers 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. Binomo was established in 2014 in Seychelles, and it is regulated by International Financial Commission. And SogoTrade was established in 1986 in United States, and it is regulated by SEC and FINRA. We can withdraw funds from Binomo with the help of Bank Wire, Visa/Mastercard, Cryptocurrency, and its withdrawal fee is free. 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 withdrawal time for Binomo is within 3 business days, and that one for SogoTrade is 3 business days.
As a result, the rating of Binomo is 3.9 stars versus that of SogoTrade of 4 stars.