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Just2trade or Sogotrade: which firm to choose?
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- Stocks and ETFs: $3
- Options commission: $3 plus $0.70 per contract
- Investment products: stocks, options, ETFs
- Minimum to open account: $500
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- Stocks and ETFs: $2.50 (with surcharge for extended hours trading)
- Options: $2.50 plus $0.50 per contract
- Mutual funds: $2.50
- Investment products: stocks, options, mutual funds, bonds and fixed income securities, ETFs
- Minimum to open account: $2,500
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- Very low commissions
- Fractional shares available with no monthly subscription fee
- No inactivity fees
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- Very low commissions
- Low margin rates
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- Cannot invest in mutual funds and bonds
- For stocks priced under $1, the online commission is $3 plus 0.5% of the principal value
- Bad trade execution
- Poor trading platform
- Very slow new account set up process
- Customer service complains
- No interest on customer's cash
- No IRA accounts offered
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- An additional cost of $0.003 per share is incurred to trade on the ECN during the extended-hours
sessions – from 7-9:30AM EST pre-market and 4-8PM EST after hours
- $25 IRA setup fee, $75 IRA closing fee and $35 annual fee for IRA accounts (if below $25,000 in assets)
- Cannot modify an order: must cancel an order to change it and resubmit it as a new order
- Very poor customer service (company encourages contact by email)
- Incorrect cash balances and other account balance discrepancies
- Options Exercise / Assignment fee: $20 per exercise or assignment
- Checking & VISA Debit Card fees: $100 (Gold Package); $125 (Platinum Package)
- Minimum $2,500 account balance requirement
- No support for beginner or novice investors
- Very basic trading platform
- Poor choice of mutual funds
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Sogotrade or Just2trade: Comparison Summary
Sogotrade
and Just2trade
offer very low commissions on stocks and ETFs: $3 and $2.50 respectively. However,
Just2Trade has $0.003 per share surcharge on after-hours trades and Sogotrade charges additional
0.5% of the principal value on penny stock orders.
Just2Trade has a lot of IRA fees but Sogotrade does not offer IRA accounts at all. If you are looking
to open retirement account, there are a lot of other brokerage firms offering
free IRA accounts.
Just2Trade suffers from account balance discrepancies. Sogotrade, on the hand, does not offer investing
in mutual funds and bonds.
Both companies have poor customer service. The firms are targeting self-sufficient (and patient) traders
and are not well-suited for beginner investors.
We can't really recommend either one of these companies. There are a lot of much better brokerages out there and
we strongly recommend checking out online broker reviews before making final decision.
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