* - 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.
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.
by sogotrade sucks,
sucks, for charge cleaning fee.
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.
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.
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.
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!
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.
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...
"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."