Comparison Firstrade vs SogoTrade
A dozen different brokers were comparatively assessed on InvestorGreg.net, and the best online trading brokers were found. Here, we compare Firstrade vs SogoTrade. Which of them: Firstrade or SogoTrade a better online broker?
Firstly, let’s compare commission fees provided by these brokers for regular transactions. The commission fee of Firstrade on regular transactions of the stock exchange is $0, and SogoTrade has a commission fee of $2.88. Let’s analyze the commission fees on trading options. Firstrade has a commission fee of $0, SogoTrade has a commission fee of $2.88 + 50c. You can read more detailed information on commission fees in the online broker reviews.
Investors should always know about types of online trading supported by broker and about tools provided by them in trading. It is very important information as well. Let’s compare them. are Firstrade provides customers with Stocks Trading, Options Trading, ETFs Trading, Mutual Funds Trading, Bonds Trading, and SogoTrade provides customers with Stocks Trading, Options Trading, ETFs Trading, Mutual Funds Trading, Bonds Trading, Futures Trading, Crypto Trading. Concerning the platforms, Firstrade uses Desktop Platform (Windows), Desktop Platform (MacOS), Web Platform, Android App, iOS App, while SogoTrade uses Desktop Platform (Windows), Desktop Platform (MacOS), Web Platform, Android App, iOS App.
In conclusion, when comparing the two online brokers, we should pay our attention to the year and country of foundation, the regulatory authorities and ways to withdraw funds. Firstrade was established in 1985 in United States, and it is regulated by SEC and FINRA. And SogoTrade was established in 1986 in United States, and it is regulated by SEC and FINRA. Withdrawal of funds from Firstrade can be done using Bank Wire with a withdrawal fee of $30 domestic US, $50 international. And SogoTrade provides the ability to withdraw funds using Bank Wire with a withdrawal fee of $25 for US wire transfer. The withdrawal time for Firstrade is 2-3 business days, and that one for SogoTrade is 3 business days.
Overall, Firstrade boasts 3.9 stars versus SogoTrade 4 stars.