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OptionsHouse vs Sogotrade
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Sogotrade vs OptionsHouse: Trading Fees and Investments
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- Stocks and ETFs: $3
- Stocks and ETFs broker assisted: $25
- Options: $5 plus $0.50 per contract
- Options broker assisted: $25 plus $0.50 per contract
- Options exercise/assignment: $15
- No-load mutual funds: $15
- Investment products: stocks, options, mutual funds, ETFs
- Minimum to open Sogotrade account: $500
- All Sogotrade fees
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- Stocks and ETFs: $3.95
- Stocks and ETFs Broker assisted: $3.95
- Two plans for options:
1. Up to five contracts for $5; each additional
contract $1
2. $8.50 + 0.15/contract (great if trading over 10 contracts)
- Two plans for spreads:
1. Up to 10 contracts for $10; each additional
contract $1
2. $12.50 + 0.15/contract
- Mutual Funds: $9.95
- Orders for U.S. treasury bonds and listed corporate bonds are accepted by phone
- Investments: stocks, options, mutual funds, bonds, ETFs
- Minimum to open Optionshouse account: $1,000 for cash account, $2,000 for margin account
- All Optionshouse fees
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- Very low commissions
- Fractional shares available with no monthly subscription fee
- No inactivity, maintenance fees (accounts with over $100)
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- Lowest commissions
- Free streaming quotes
- Efficient trading tools
- No account minimums. Minimum initial funding size is $1,000 for a cash account and $2,000 for a margin account
- No fee IRA accounts
- No volume requirements, maintenance and inactivity fees
- Free check-writing privileges
- Free DRIPs (complete shares only)
- No surcharges for large orders and extended hours trading
- Very low margin rates
- Free virtual trading
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- For stocks priced under $1, the online commission is $3 plus 0.5% of the principal value
- Terrible trade executions
- Poor trading platform
- Frequent technical problems
- Very slow new account set up process
- Hard to reach, unresponsive customer service
- $30 annual IRA fee
- Can't short stocks under $3
- Cannot invest in CDs and bonds
- No interest on cash
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- For stocks priced $2 or less that are not options eligible, add $0.005 per share for the entire order
- Shortened extended hours trading: 8:00 am - 9:30 am and 4:00 pm - 5:00 pm EST
- International investors are not accepted
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OptionsHouse vs Sogotrade: Comparison Summary
Sogotrade (Sogotrade Review)
and Optionshouse (Optionshouse Review)
are some of the cheapest brokerage houses in the country - only $3 and $4 per stock/ETF trade respectively!
Both firms don't have surcharges on large-size orders. Sogotrade, however, has a 0.5% of the principal value surcharge on stocks
under $1 and does not offer extended hours trading on regular SogoTrade accounts. Optionshouse has a surcharge of $0.005 per share
on stocks under $2 that are not options eligible.
Customers can't invest in CDs and bonds with Sogotrade and the firm charges $30 annual IRA fee.
OptionsHouse, on the other hand, offers bonds investing and, because of no IRA fees, we rated it as one of the
Best Companies for IRA.
OptionsHouse offers much better customer service, trading tools and account application process than Sogotrade. Unlike the competitor,
it provides users with free virtual trading and checking account.
The firm is highly rated by all financial magazines and it's named Best For Options Traders in 2009, 2010 and 2011 by Barron's magazine.
Of course, OptionsHouse is also an excellent choice for anyone interested in investing in stocks, mutual funds and ETFs.
We rated it the Top Online Broker in 2011 and we strongly
recommend OptionsHouse over Sogotrade to all investors.
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