SogoTrade Reviews

Customer's Rating: brokerage firms reviews

SogoTrade customer reviews: complaints, positive feedback from clients, pros and cons. Is the broker good/safe?

SogoTrade Review: Trading Fees

  • Stocks/ETFs: 0 - 149 trades/quarter $5* (base rate) Unlimited shares**; 150+ trades/$3 quarter $5* (base rate) Unlimited shares**
  • Options: $5 (base rate) + $0.50 per contract
  • Mutual Funds: Broker-assisted only $25

* - For stocks priced under $1, add the greater of $0.0003 / share (10% of principal max) OR 1/4% principal

** - For Stocks priced under $1, $100 minimum investment (principal) required per opening transaction.

Sogotrade is in 12th place going right after Scottrade, which also receives 3 stars from Barron's in 2016.

While Sogotrade trading commissions are among lowest in the industry, especially for active traders, a poor trading platform along with very little research material and numerous complaints about their customer service, don't let Sogotrade to be among the best low cost brokers.

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SogoTrade Customer Reviews

by sogotrade sucks, 2/7/2017

Pros:

Cons:

sucks, for charge cleaning fee.

by Jim, 10/18/2015

Pros:

Cons: Sneaky. Dishonest

I hadn't touched my Sogotrade account in years. Before I knew it, Sogotrade decided to charge me a $50 "annual fee" for the account. That really sucks, especially since the account had less than $10 in old, residual cash that I hadn't moved out when I switched brokers (because Sogotrade's EFT processes are so difficult to use).

Thanks a lot, Sogotrade. Avoid.

by Sarah, 7/28/2015

Pros: Cheap

Cons: Charges 0.5 cent for each stock sold before or after hours, also after hours trading starts at 8 am

Do not buy the prepaid packages. They will not show as a cost basis at tax time and this causes tax nightmares because it shows you as making more money than you actually did. Also, go with AON. I have had them sell 1 stock out of an order of 100 and 2 out of an order of 1200 and got stuck for the full commission. I also had them make a stock transaction error recently but customer service was good and cleared up the problem.

by Daniel, 5/27/2015

Pros: cheap, at first, lower margin rate

Cons: terrible site design, slow, increases rates, unable to get proper tax docs and account info, no mobile app

I wish I left them earlier. I switched to TD ameritrade which is much better to work with. Sogotrade costs you big money in the long run.

by Christina, 2/15/2015

Pros:

Cons:

A good online broker to trade with. Sogotrade improved itself a lot in recent two years. Their customer service is getting better and better! They also provide more products and services to customers. The trading platform and research tool help customers how to trade in market, even though you are beginner, you will know how to trade by the guideline of SogoTrade. And the low commission fee is always what we love! It is a great online broker to choose!

by Mark, 4/10/2014

Pros:

Cons:

At the age of 23 I started with SOGOtrade. The low commission was great and I got my start trading options. Now I've see the platform and their service just decay. Execution for options is terrible, although their "options bootcamp" podcast is ok the don't really tell you about some of the hidden costs in dealing with SOGOtrade. On top of that, I figured I could use SOGO as a good place to hold dividend ETFs and socks, but it appears that they will keep adding monthly fees and other costs. So that $3 trade is not really $3. At Scottrade I never get hit with these fees, I just pay everything upfront, $7. Now that I am 28 years old I am pretty sure I need to step up to a better broker. Aside from SOGO's platform and their strange/hidden fees, I can see a general decay in every aspect of the brokerage. I will be transferring my account very soon.

by MAtt, 1/29/2014

Pros: Cheap trades if they go thru correctly

Cons: Extremely slow tax form availability

For 3 years in a row the 1099s have been extended until the very last minute, despite claims on the home page of a certain date, you check on that date, and it says that they have extended the date until Feb, and then March. "The IRS gives us until March deadline to issue 1099 forms). Pretty pathetic when you compare to larger companies. People want to get their taxes done and out of the way, and have to wait on a slipshod bush league bunch of garbage, because guess what, the important things are impossible for them to do right, and expediently. Closed my account. Let them make excuses to someone else, during tax time...

Leading U.S. Brokerage Review Websites About SogoTrade

"SogoTrade has some of the best prices for trading of any online broker we reviewed, especially when you order more than 150 trades in a single quarter. There are a few different platforms to choose from, including SogoOptions, which gives you a more-comprehensive platform. However, mobile trading is limited. There are fewer investment choices than many other services offer. While the service costs less than many, it is not the best choices for serious investors."

TopTenReviews.com

"SogoTrade limits itself by only supporting stocks and options trading and has little to offer for the average investor beyond discounted stock trades."

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Brokerage reviews from customers/users/consumers. Broker ratings, promotional codes, scam reports/complaints, pros and cons, stocks, options, ETFs, mutual funds trading/invseting commissions/fees for 2017. Consumer opinions and feedback on brokerage services.
SogoTrade Customer reviewed by TopRatedFirms.com users. 7 customer reviews. Rating: 2.