8 
0 
SogoTrade Reviews
SogoTrade Basic Information
SogoTrade is a product oriented towards any kind of investor, whether a beginner or an advanced professional. Anyone who seeks to build a long-term, diversified portfolio without using expensive and complicated methods will feel at home with SogoTrade. Customers can utilize a broad range of investment products, from stocks to ETFs.
We offer the strategies of compound return, diversification, and dollar cost averaging, which are essential in a long-term investment plan. Our transaction fees are some of the lowest in the industry, since we are affiliated with Genesis Securities, LLC., a self-clearing organization. We never charge any account maintenance or inactivity fees.
11 Customer Reviews of SogoTrade
Mark on December 29, 2008
COMMISSSION:
Possibly the lowest fees to be reviewed, the site offers $3.00 per trade commissions, plus an option for broker assisted executions for $27.00. Margin interest rates are 4.25%, with an additional percentage dependent upon the balance. Although other sites may be financially beneficial for the frequent trader, if you only execute a small number of trades each month then this is an ideal place to do just that.
CUSTOMER SERVICE:
A standard feature of the site, offered communication is available through live chat and phone calls from 8am until 7.30pm EST, as well as an option to email.
TRADE TOOLS & SERVICES:
Possibly preferred for the low commissions, the site doesn´t offer a vast amount in terms of trading tools, although they do have screeners, news and the ability to research through the education center, it would appear that the offerings here are quite basic. The only additional service to look for, as earlier mentioned is the broker assisted trade option.
WEBSITE & ACCOUNT SECURITY
The site takes the security issue seriously with the use of VeriSign certificates, firewalls, automated session timeouts, and SSL encryption to aid in keeping the client in a safe trading environment, additional to this there is a selection of tips for the user to assist in their own security online.
active trader on April 20, 2009
I’ve been using sogo for the past 3 years and have found them to be (trade execution wise) much better than e-trade and ameritrade. I do my research elsewhere and do all my trades with sogo! They have now OTC and limit and stop orders and they execute the fastest than anyone and at the best stock price. They are my favorite!
active trader on April 20, 2009
Oops, forgot to choose ratings…….
tha trada on May 13, 2009
great value have been using a while and they are great gotta love $3 trades!!! They are executed sooooo fast! please use my referral so that you can get 25 free trades:
code:364838
link:https://www.sogotrade.com/Setup/Default.aspx?rf=364838
John on May 14, 2009
Sogotrade is by far one of the best discount brokerage firms I have used. The layout of their website is very user friendly, even for people new to the market. While their analysis tools are fairly basic, it is still more then enough for most investors. They recently revamped their ETF center which has loads of great research tools.
Unfortunately, Sogotrade no longer offers $1 or $1.50 trades. Their only plan, as of this writing, is $3 trades, which is one of the most competitive trading fees I’ve seen. Their account terms are very straight forward, no maintenance fees, no ACH transfer fees (in or out) and no inactivity fees. I really don’t understand how other brokers can charge fees for that stuff.
Opening an account is very simple, typical setup forms are required. I was able to fax everything in and be up and trading in less then a week. Funding from a bank account is quick and easy. Funds are available in 2 to 3 days.
Trading is really easy. Market and limit orders are made in real time during market hours. I’ve never had any problems submitting orders. You can see level 1 market data at the trading screen. Sogotrade no longer offers fractional shares or automatic dividend reinvestments.
Customer service is great. They offer phone, email, and live chat support. Email (sent through their secure message center) is answered usually the same day. Live chat is easy to use and is available during market hours along with phone support.
When I signed up, Sogotrade was offering some pretty good signup bonuses. With new accounts, you get 100 free trades good for the first month and up to $100 back when you transfer a trading account in.
I hope you found my review helpful. If so, please use my referral code 456679 when signing up, I would really appreciate it!
https://www.sogotrade.com/Setup/Default.aspx?rf=456679
Thanks,
-J
David Wang on September 10, 2009
The account open process is too long. I opened my acount and set up bank account in the second day. It is almost one week now and it is still showing “mail a void check” which I mailed to them already 5 days. I will call this evening
Michael on November 7, 2009
Sogotrade is definitely one of the cheapest brokers out there. It’s hard to beat $3 trades and the speed in which they are processed is fairly quick for a discount broker. This comes at the cost of data and tools that they provide. There is no charting software and the information they present is close to useless for trading. Better off getting secondary charting software. This broker is great for people who trade a lot and not very often. If you’re new, this will definitely help in the losses that are sure to come. It’s a lot better to lose $3+losses rather than $10+losses. I highly suggest this broker to those who have other sources of data and newer trades that will trade less frequently.
Hoang Nguyen on January 31, 2010
I like the fee but the ACH fund transfer requirement is too much. I have Ameritrade and the ACH set up is very simple no mail in voided check or statement require. Scottrade Elite tool for trading is better I think.
Judge on February 3, 2010
$3 per trade and nice service. You get 25 free trade by my referral number.
I would be so appreciate it.
Referral number: 549829
https://www.sogotrade.com/
John on February 8, 2010
horrible horrible service. I know they are cheap but I think they should be able to provide at least reasonable service at the end of the day. they will not address your question but will talk all around it. I am switching. I will pay more for better service.
Scott on March 23, 2010
I’ve been using SogoTrade for over a year now and they have been great. The tools are somewhat limited but it has all the basics. It is they best broker that I have seen for finding shares to short.
Sign up here and get 100 free trades.
Please Share Your Personal Experience with SogoTrade