sogotrade
speedtrader
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Overview
sogotrade was founded in 2016 and is headquartered in USA, while speedtrader was established in 2017 and is based in Netherlands. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. sogotrade serves 1,000,000+ clients worldwide; speedtrader has 3,500,000+. Both brokers share the same minimum deposit of $250.
| Feature | sogotrade | speedtrader |
|---|---|---|
| Min. Deposit | $250 | $250 |
| Regulation | 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 | 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-F308 |
| Founded | 2016 | 2017 |
| Country | USA | Netherlands |
| Clients | 1,000,000+ | 3,500,000+ |
Fees
Fees are a critical factor when choosing between sogotrade and speedtrader, directly affecting your bottom line as a trader. Both require a minimum deposit of $250. sogotrade charges withdrawal fees while speedtrader does not, a notable advantage for frequent withdrawers. sogotrade applies inactivity fees on dormant accounts; speedtrader does not. speedtrader charges deposit fees; sogotrade does not. The two brokers are broadly comparable on fee structure.
| Feature | sogotrade | speedtrader |
|---|---|---|
| Min. Deposit | $250 | $250 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | Yes |
Platforms
sogotrade offers MT4, MT5, cTrader, while speedtrader supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. speedtrader supports social and copy trading features, which sogotrade does not offer. The two brokers are closely matched on platform offering.
| Feature | sogotrade | speedtrader |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, 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 sogotrade and speedtrader 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. speedtrader scores higher overall in education and research.
| Feature | sogotrade | speedtrader |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. sogotrade accepts 5 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill, Neteller), while speedtrader supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). Both brokers support the same set of payment methods.
| Feature | sogotrade | speedtrader |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | Yes |
| Skrill | Yes | Yes |
| Neteller | Yes | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both sogotrade and speedtrader offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 8 languages. Both brokers are comparable on support quality.
| Feature | sogotrade | speedtrader |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |