SogoTrade Reviews

SogoTrade Reviews

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Overall Rating44444

SogoTrade is an online broker based in New York, New York. The company was founded in 2008 and offers their customers the ability to trade stocks, options and ETFs. SogoTrade has two platforms – a web based one called SogoTrade and a client based downloadable one called SogoElite. Those looking for a simple yet powerful platform to trade on should definitely look into SogoTrade.

SogoTrade Commissions

  • Stocks / ETFs: $3.00 flat rate. ($3 +0.005/share extended hours trading. $27 broker assisted)
  • Options: $5.00 + $0.65 per contract ($27.00 + $0.65 per contract broker assisted)

SogoTrade Features

  • Quick trade execution with one click order entry
  • Live chat customer support + Phone support available during business houses
  • Simple yet Powerful free trading tools
  • Forex allows for up to 100:1 leverage and access to precious metals trading
  • Enhanced SiPC account insurance ($5,000,000 protection vs $500,000 with regular SiPC insurance)

SogoTrade Promotions:

  • 100 Free trades (Good for 30 days. $500 minimum deposit)
  • Free 1 Year McAfee anti-virus subscription

SogoTrade Minimum Deposit to open an account: $500

 

User Reviews

  • York says:

    I signed up to SogoTrade mainly for the $3.00 stock trades. I’m tired of paying TDAmeritrade their $9.99 ransom every time I want to trade. You’d think a company as big as Ameritrade would offer clients who trade frequently better pricing, but they don’t. By switching to SogoTrade I’ve been saying $6 per trade, and that really adds up when you’re trading more than once a day. SogoTrade is a reliable company, but I gave them a 3/5 mostly because you can’t trade futures, mutual funds, forex, or bonds with them. They’re basically as vanilla as it gets for an online broker, as they only do Stocks and Options. If stocks and options are the only thing you’re looking for SogoTrade is a great broker. I only had to call support once, and they were very friendly.

  • JohnBull says:

    I heard of SogoTrade from Baron’s and since it got good reviewed I decided to use them instead of the big three (Ameritrade/Schwab/Etrade). Since I’m only trading stocks and options, I never had any real complaints with Sogotrade. They have good support, low fees and a solid platform. I recommend em.

    • Sultan says:

      All he’s showing is -20% is not the oppioste of +20%. The key is not the size of trade but to cut losing positions without hesitation. If the trade is not behaving as you predicted then get out. Let the winners ride and take half profits out at your desired exit point. If the position continues to go up, then you can always get back in. If you need to stick to % losses and wins for your exits, then set losses at 15% instead of 20%.

  • JeffB says:

    Simple broker with a simple commission structure. If you’re tired of the big guys like TDAmeritrade and Charles Schwab, definitely use Sogotrade. I switched from TDAmeritrade to Sogotrade because the jerks at TDAmeritrade wouldn’t give me options trading on my account (For no reason). I spoke with a rep at Sogotrade and they helped me set up my account and gave me margin + options. Good broker, good rates, worth using.

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