Alpaca vs SogoTrade Comparison: Fees, Features, and More (2026)

Alpaca and SogoTrade are two leading discount brokerages offering commission-free stock and ETF trading. Use this head-to-head comparison table to evaluate fees, features, trading tools, and account options to help you decide which broker is right for you in 2026.

Head-to-Head Comparison: Alpaca vs SogoTrade (2026)
Feature Alpaca SogoTrade
Website https://alpaca.markets/ https://www.sogotrade.com/
Broker Type API-first self-clearing broker-dealer (Trading API for retail/algo; web dashboard available) Discount (online self-directed)
Trading: Stock & ETF? Yes Yes
ETF & Stock commission $0 commission (retail US stocks/ETFs); plus SEC/FINRA/CAT fees. Elite Smart Router: $0.0005–$0.004/share $0 qualifying limit (100+ sh or ≥$2k principal, ≥$1/sh); $2.88 market/odd-lot/OTC
Fractional Shares? Yes (from $1 notional; 2,000+ US equities) No
Percent Allocations? Yes, via API No
Crypto Trading? Yes (most US states via API/dashboard; 24/7) Yes, via Bakkt (individual non-retirement accounts; ~33 coins; all 50 US states, NY USDC restriction).
Crypto Fees Maker/taker 0.15%/0.25% (under $100k 30d vol) to 0%/0.10% ($100M+); on received asset Greater of $1 or 1% of trade value (Bakkt); other account fees may apply.
Options Trading? Yes (Levels 1-3 equity/ETF; index options live) Yes.
Options Fee $0 commission retail equity/ETF options; index $0.50/contract + ORF/OCC/exchange pass-throughs $0 + $0.50 per contract online; $25 + $0.50 broker-assisted; plus ORF/OCC/regulatory fees.
Bond Trading Available? No (Broker API partners only; not Trading API/dashboard retail) Yes, broker-assisted only ($30 + $1 per bond, $250 max) for Treasuries, corporates, CDs.
Receives payment for order flow (PFOF)? Yes (receives PFOF rebates) Yes
Interface: Web trading? Yes web dashboard; no official mobile app (third-party/TradingView yes) Yes (SogoTrade Pro web platform and mobile app).
Desktop trading? No No
API Trading? Yes (Alpaca Trading API) No
Mutual Funds: Offered? No Yes, broker-assisted only
Total Mutual Funds None Not verified
NTF Mutual Funds None None
Non-NTF Fund Fee N/A $25 broker-assisted
Early Redemption Fee? N/A Not verified
Redemption Hold (Days) N/A not applicable
Early Redemption Fee N/A not applicable
Accounts: Margin Accounts? Yes; all accounts opened as margin (limited margin if equity under $2,000). Yes
IRAs Offered? Yes; Traditional and Roth IRAs for US tax residents (Trading API). SEP-IRA in agreements. Yes
HSAs Offered? No No
Money Market Sweep? Yes; opt-in FDIC Bank Sweep/High-Yield Cash for uninvested cash (variable APY, up to $1M FDIC). No
CDs Offered? No No
Robo-Advisor: Offered No Yes
Robo-Advisor Service N/A Power Portfolios
Robo-Advisor Fees N/A 0.75%
Basics: Headquarters San Mateo, CA New York, NY
Year Founded 2015 1986
Clearing Firm Self-clearing (Alpaca Clearing) Apex Clearing
Local Branches? No No
New Account Minimum $0 unavailable

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