Is Sogotrade a Scam? Is Sogotrade Safe and Legitimate Brokerage Firm? Are Your Money, Assets and Investments Insured?

Is Sogotrade Safe?

We are often being asked the following questions: is Sogotrade a fraud? Is it safe to use, to keep money and investments at Sogotrade? Is account SIPC/FDIC insured? The short answer - Sogotrade is a legitimate brokerage firm. But the company had some problems when we reviewed it, especially with trading tools and customer service - we do NOT recommend opening account there. It also has F rating from BBB and a lot of negative user reviews: you can read them in our 2016 Sogotrade Reviewunder this link.

Is Sogotrade Insured And Regulated?

About Sogotrade: Sogotrade is a division of Wang Investments which is an online deep discount brokerage firm. The firm is also helping individuals establish retirement plans. Wang Investments, registered as a Broker/Dealer with the Securities and Exchange Commission (SEC), is a member of the Financial Industry Regulatory Authority (FINRA) and Securities Investors Protection Corporation (SIPC).

Sogotrade BBB (Better Business Bureau) Rating: F

Total Closed Complaints - 12: Problems with Product/Service - 9, Advertising/Sales Issues - 1, Billing/Collection Issues - 1, Delivery Issues - 1.

Read full Sogotrade Review.

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Updated on 7/23/2015.

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