Robinhood
sogotrade
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Overview
Robinhood was founded in 2013 and is headquartered in USA, while sogotrade was established in 2016 and is based in USA. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. Robinhood serves 10,000,000+ clients worldwide; sogotrade has 1,000,000+. The minimum deposit is $0 at Robinhood and $250 at sogotrade.
| Feature | Robinhood | sogotrade |
|---|---|---|
| Min. Deposit | $0 | $250 |
| Regulation | Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F307 |
| Founded | 2013 | 2016 |
| Country | USA | USA |
| Clients | 10,000,000+ | 1,000,000+ |
Fees
Fees are a critical factor when choosing between Robinhood and sogotrade, directly affecting your bottom line as a trader. Robinhood has a lower barrier to entry with a minimum deposit of $0 (vs $250 at sogotrade). sogotrade charges withdrawal fees while Robinhood does not, giving Robinhood an edge for frequent withdrawers. sogotrade applies inactivity fees on dormant accounts; Robinhood does not. Robinhood charges deposit fees; sogotrade does not. Overall, Robinhood scores higher on fees in our assessment.
| Feature | Robinhood | sogotrade |
|---|---|---|
| Min. Deposit | $0 | $250 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
Platforms
Robinhood offers a proprietary platform, while sogotrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Robinhood supports social and copy trading features, which sogotrade does not offer. sogotrade edges ahead on platform breadth and functionality in our scoring.
| Feature | Robinhood | sogotrade |
|---|---|---|
| MT4 | No | Yes |
| MT5 | No | Yes |
| cTrader | No | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Robinhood and sogotrade compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. Robinhood scores higher overall in education and research.
| Feature | Robinhood | sogotrade |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Robinhood accepts 1 of the tracked payment methods (bank transfer), while sogotrade supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). sogotrade uniquely supports credit/debit card and PayPal and Skrill and Neteller among the two brokers. sogotrade scores higher on deposit and withdrawal flexibility.
| Feature | Robinhood | sogotrade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | No | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Robinhood and sogotrade offer live chat support. sogotrade offers phone support; Robinhood does not. Email support is available at both brokers. Robinhood supports 13 languages and sogotrade supports 8, giving Robinhood broader global reach. sogotrade scores higher overall on customer support in our assessment.
| Feature | Robinhood | sogotrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | No | Yes |
| Email Support | Yes | Yes |
| Languages | English, Deutsch, Nederlands, Espanol, Francais, Italiano, Polski, Srpski, Norsk, Svenska, Cesky, Romana, Turkce | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |