Updated September 28, 2026 · BrokerCue Editorial Team
BMO InvestorLine vs SogoTrade
BMO InvestorLine vs SogoTrade: the differences
| Compare |  BMO InvestorLine |  SogoTrade |
|---|---|---|
| Stock trade fee | CA$0 | $0 |
| Markets | Stocks, ETFs, Options, Bonds, Funds | Stocks, ETFs, Options, Crypto, Bonds, FundsCovers more |
| Margin rate | 8.75%Lower | 9.75% |
| Options contract fee | CA$0.90 | $0.50 |
| Minimum deposit | Not confirmed | $500 |
| Account fee | CA$0 | Not confirmed |
| Inactivity fee | CA$0 | Not confirmed |
| Regulators | Not confirmed | FINRA, SIPC |
| Investor protection | Not confirmed | SIPC up to USD 500,000 |
| Currency conversion fee | 0.4% to 1.6% | Not confirmed |
| Deposit and withdrawal fees | $0 EFT, $10 wire | Not confirmed |
| Platforms | Not confirmed | SogoTrade NextGen, SogoOptions, Mobile app |
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Key differences
- BMO InvestorLine scores higher overall: 9.4 vs 9.3.
- Margin rate is lower at BMO InvestorLine: 8.75% vs 9.75%.
- Markets: only SogoTrade offers Crypto.
- Support channels: only SogoTrade offers Email.
- Features: only SogoTrade offers Crypto.
Our verdict on each
BMO InvestorLine
BMO InvestorLine suits Canadian investors who want a bank-backed broker without account or inactivity charges, trading stocks and ETFs commission free. What sets it apart is the pairing of a CAD 0 stock trade fee with a CAD 0 account fee, though currency conversion and options add cost.
SogoTrade
SogoTrade is a US broker for experienced traders who want share dealing without commission, plus options, crypto and margin in one account. Its catch is the entry cost: a minimum deposit of $500 and an options contract fee of $0.50 for anyone trading contracts.
Score breakdown
| Area | BMO InvestorLine | SogoTrade |
|---|---|---|
| Cost | 9.2HigherCommission-free stock and ETF trades, no account fee and no inactivity fee, with options and margin priced separately at CAD 0.90 and 8.75%. | 8.8 |
| Offer | 9.2 | 9.5Higher |
| Trust | 9.6Higher | 9.5 |
Licences and countries
| Country | BMO InvestorLine | SogoTrade |
|---|---|---|
| United States | Not confirmed | SIPC SIPC member 35930 |
How they place
| Ranking | BMO InvestorLine | SogoTrade |
|---|---|---|
| Stock and ETF brokers | 43 of 490 | 72 of 490 |
| Options trading platforms | 13 of 103 | 25 of 103 |
| Margin trading brokers | 6 of 22 | 13 of 22 |
Also worth a look
Nexo has margin rate at 1.9%, against 8.75% for BMO InvestorLine and 9.75% for SogoTrade.
Nexo reviewSources behind this comparison
BMO InvestorLine
- finder.com: 5 facts, checked September 26, 2026
- newsroom.bmo.com: 3 facts, checked September 26, 2026
- hellosafe.ca: 2 facts, checked September 26, 2026
- stockwatch.com: 1 fact, checked September 26, 2026
- wowa.ca: 1 fact, checked September 26, 2026
SogoTrade
- sogotrade.com: 13 facts, checked September 26, 2026
- sipc.org: 1 fact, checked September 26, 2026
Every fact side by side
| Fact | BMO InvestorLine | SogoTrade |
|---|---|---|
| Features | Mobile app, Options | Crypto, Options, Mobile appCovers more |
| Pricing model | Commission free | Commission free |
| Audience | Not confirmed | Experienced, Beginners |
| Legal entity | Not confirmed | SOGOTRADE INC |
| Headquarters | Not confirmed | United States |
| Founded | 1988 | Not confirmed |
| Support channels | Phone, Chat | Email, Chat, PhoneCovers more |
Where each stands against the rest
| Fact | BMO InvestorLine | SogoTrade | Median |
|---|---|---|---|
| Minimum deposit | Not confirmed | $500highest quarter | $10 |
| Account fee | CA$0below the median | Not confirmed | CA$60 |
| Currency conversion fee | 0.4% to 1.6%at the median | Not confirmed | 0.4 |
| Margin rate | 8.75%below the median | 9.75%above the median | 8.79% |
Median across 99 listed brokers.
Pros and cons
BMO InvestorLine
Pros
- Stock and ETF trades cost CAD 0 and the account fee is CAD 0, so holding a portfolio costs nothing.
- The inactivity fee is CAD 0, so an untouched account is not charged.
- Support runs on phone and chat, giving a phone line and live chat.
Cons
- Margin borrowing is priced at 8.75%, so a leveraged position carries a borrowing cost.
- Options contracts carry a fee of CAD 0.90 each.
- Currency conversion is the hidden cost, at 0.4% to 1.6%, and deposits and withdrawals run $0 EFT, $10 wire.
SogoTrade
Pros
- Share dealing is commission-free, with the model listed as commission free.
- A single account spans stocks, etfs and options.
- Registration with FINRA and SIPC and investor protection of SIPC up to USD 500,000.
Cons
- A minimum deposit of $500 places it at position 178 of 213 on the site.
- Options trading carries a contract fee of $0.50, so frequent contract traders pay a running cost on top of share dealing.
- Margin is priced at 9.75%, so borrowed positions cost more than cash ones.
Who each suits
BMO InvestorLine
Who it suits
- Investors who want a long term stock, ETF, bond and fund portfolio without a standing account charge.
- Traders who mainly trade Canadian equities and want phone and chat support for questions.
- Anyone already inside a bank relationship who values a long operating history.
Who should look elsewhere
- Day traders who live in currencies other than the Canadian dollar and would feel the 0.4% to 1.6% on every conversion.
- Options buyers who place frequent contracts and would pay CAD 0.90 each time.
- Leveraged traders, because margin costs 8.75%.
SogoTrade
Who it suits
- Traders comfortable with options and margin, since crypto, options and mobile app sits alongside core share dealing.
- US accounts, since the firm is based in the United States.
- People who want one login across SogoTrade NextGen, SogoOptions and mobile app.
Who should look elsewhere
- CFI if a free minimum deposit matters, because CFI asks for $0 against $500 here.
- Vantage if you want to start small, with a minimum deposit of $5.
- eToro if you trade forex and CFDs, since stocks, etfs and forex lists markets outside the SogoTrade range.
Country by country
| Country | BMO InvestorLine | SogoTrade |
|---|---|---|
| United States | No | Yes |
Questions about each
BMO InvestorLine
How much does it cost to open and hold a BMO InvestorLine account?+
The account fee is CAD 0 and the inactivity fee is CAD 0, so there is no standing or dormant charge on the account. Stock and ETF trades themselves cost CAD 0. The costs that do appear are on currency conversion, options and margin.
What does it cost to trade a stock or an ETF?+
Stock and ETF trades are commission free, priced at CAD 0. The platform is listed as a commission-free model. Costs appear elsewhere: currency conversion at 0.4% to 1.6%, options at CAD 0.90 per contract, and margin at 8.75%.
SogoTrade
What does SogoTrade charge to trade shares?+
Stock trades are priced at $0 under a commission free model, so share dealing carries no commission. You still need a minimum deposit of $500 before orders can be placed. Charges beyond that sit on options, at $0.50 per contract, and on margin, at 9.75%.
How much is the minimum deposit?+
Opening the account takes a minimum deposit of $500, which is far from a casual entry and places SogoTrade at position 178 of 213 on the site. Traders wanting a lighter start can compare $0 at CFI and $5 at Vantage.