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Comparison IQ Option vs SogoTrade
The InvestorGreg.net broker comparisons assess over a dozen different brokers, finding the best online trading brokers. This comparison page compares IQ Option vs SogoTrade. Is IQ Option or SogoTrade a better online broker?
First of all, we’ll compare the commission fees of the two brokers. IQ Option has a commission fee of from 0.16%, and SogoTrade has a commission fee of $2.88. When analyzing trading options, the commission fees of IQ Option is from 0.035%, and that one of SogoTrade is $2.88 + 50c. When analyzing commission fees in CFD: IQ Option provides from 0.16%, and SogoTrade provides $2.88. 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. Stocks Trading, Options Trading, ETFs Trading, Forex Trading, Crypto Trading are provided to customers by IQ Option and Stocks Trading, Options Trading, ETFs Trading, Mutual Funds Trading, Bonds Trading, Futures Trading, Crypto Trading are provided by SogoTrade. Concerning the platforms, IQ Option 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. IQ Option was established in 2013 in Seychelles, and it is regulated by Not Regulated. And SogoTrade was established in 1986 in United States, and it is regulated by SEC and FINRA. We can withdraw funds from IQ Option with the help of Bank Wire, Visa/Mastercard, 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 IQ Option is within 1 business day, and that one for SogoTrade is 3 business days.
Overall, IQ Option boasts 3.9 stars versus SogoTrade 4 stars.