Sogotrade review



SogoTrade review 2010



SogoTrade review 2010: very cheap commissions. Bad trading tools and customer service. Mutual funds are not offered.

SogoInvest Trading Fees and Investments Offered (2010)


  • Stocks and ETFs: $3
  • Options commission: $3 plus $0.70 per contract
  • Investment products: stocks, options, ETFs
  • Minimum to open account: $500


SogoTrade Account Application

Opening account with SogoTrade takes longer than usual. Online application forms are well designed and you will be done with them at no time. But once you complete them you'll have to wait for your application to be approved. When it's done you will have to verify 2 deposits SogoTrade is going to make into your bank account, which is going to take a few days. You will also need to mail or fax them your voided check, which is something no other broker requires. Minimum to open account is reasonable $500.


SogoTrade Trading Platform/Tools Review


SogoTrade review

Sogo Trade review 2010

SogoInvest trading platform is limited, slow and buggy. Trade executions sometimes take minutes. It's probably the worst trading platform out of all discount stock brokers we rated.


SogoTrade Account Pros/Advantages

  • Very low commissions
  • Fractional shares available with no monthly subscription fee
  • No inactivity fees


SogoTrade Account Cons/Disadvantages

  • Cannot invest in mutual funds and bonds
  • For stocks priced under $1, the online commission is $3 plus 0.5% of the principal value
  • Bad trade execution
  • Poor trading platform
  • Very slow new account set up process
  • Customer service complains
  • No interest on customer's cash
  • No IRA accounts offered


SogoTrade Review Summary

SogoTrade has some of the lowest stock commissions in the industry - just $3 per trade for stocks over $1 and $3 plus 70¢ per contract for options traders.

SogoInvest is one of the few brokerages that offer fractional shares without monthly subscription fee. This could be handy if you want to buy stock with a share price of thousands of dollars.

It is expensive to trade stocks below $1 with SogoInvest. The firm does not offer investing in mutual funds and you can't open IRA account. Their trading platform is slow and buggy. There are a lot of complains on very slow new account set up and poor customer service.

Optionshouse charges the same low $2.95 stock commission and is highly rated by all investor surveys. The firm has very good customer service and trading tools.


Sogotrade Promotional Code: none right now


Sogo Trade review 2010

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