SogoTrade Pricing and Minimum Deposit
| Investments | Commissions |
|---|
| Stocks and ETFs | $0 for qualifying limit orders, $2.88 for market orders |
| Stocks and ETFs broker assisted | $25 |
| Options | $0.50 per contract |
| Options broker assisted | $25 + $0.50 per contract |
| Options exercise/assignment | $15 |
| Investments | stocks, options, cryptocurrencies, closed-end funds, and ETFs |
| SogoTrade minimum deposit to open account | $0 cash account, $2,000 margin account |
Overview of SogoTrade
Although SogoTrade is not one of the biggest names in the brokerage world, it does offer a surprisingly broad mix of trading and investment services with one of the more unusual commission schedules in the industry. It is definitely worth a closer look.
SogoTrade Pros
Get Paid to Trade: Customers can actually earn credits on qualifying limit orders.
Multiple software platforms: SogoTrade offers several trading platforms and mobile tools.
Asset management: Advisory accounts are available.
SogoTrade Cons
Not always commission-free: Some stock trades still carry commissions.
Limited customer service: There are no branch locations for most clients and no 24/7 support.
Lots of extra fees: IRAs, inactivity, options, and other services can generate added charges.
SogoTrade Investment Services
SogoTrade offers both self-directed and advisory accounts. The self-directed side has the broader lineup of tradable products. These include:
- Equities
- Funds (exchange-traded and closed-end)
- Option contracts
- Cryptocurrencies
SogoTrade’s cryptocurrency service is offered through Bakkt. Still missing are several other investment categories, including mutual funds, futures, forex, bonds, precious metals, and most foreign securities.
SogoTrade also provides a large selection of account types. In addition to individual and joint accounts, the broker offers custodial, business, estate, retirement, trust, education, and other specialized accounts.
Some of these accounts can be opened by non-U.S. clients through SogoTrade’s foreign account service. Depending on residency status, some applicants can apply without a Social Security Number. Either English or Chinese can be used in the application process.
SogoTrade customers also get a free EvoShare membership, which can provide cash-back rewards into a SogoTrade account without a monthly or annual fee.
Opening an Account
The online application at SogoTrade is fairly easy to complete. Even so, accounts are not always approved instantly. The review process can take time, and that slows down the overall experience.
During our opening of a U.S.-based account, we received an email asking for three documents: proof of residency, a copy of a Social Security card, and another government-issued ID such as a driver’s license. This obviously adds more paperwork and can stretch out the approval timeline. Nevertheless, our account itself was opened in less than 6 hours. It took SogoTrade 11 calendar days, however, to enable ACH transfers, and only one bank can be linked during the first 90 days.
Both Americans and non-Americans begin by clicking the orange “open an account” button on the SogoTrade website. Foreign applicants may need to provide digital copies of documents such as a passport, visa, and proof of residency.
Margin, options, and cryptocurrency privileges can be added during a single application. Managed accounts are opened through SogoTrade Asset Management.
Customer Service
Applicants and current clients can contact SogoTrade’s customer-service department during the week. And we do mean during the week only, because the broker is closed on weekends. Monday through Friday, the hours are 8:00 am until 6:00 pm, New York time. During these hours, we tried both the local number and the toll-free line but were unable to reach anyone by phone on several attempts.
There is a live chat widget on the SogoTrade site that is available during company hours. We did receive a response through chat, so that channel may be the more dependable one. There is also an email form on the Contact page.
SogoTrade also serves Chinese-speaking clients. It maintains Chinese-language phone support with the same weekday hours, plus additional hours for China, Taiwan, and Hong Kong clients.
The website can be displayed in simplified or traditional Chinese. Those links are near the chat link, and accessibility settings appear in the lower-right corner of the site.
SogoTrade Asset Management
Besides self-directed trading, SogoTrade also has an investment-advisory arm. The company’s current managed-account service is offered through SogoTrade Asset Management.
The firm’s PowerYield Portfolios are designed to generate income using a portfolio of covered-call ETFs. The strategy is built around YieldMax funds and is meant for investors who want a more hands-off approach.
This program is discretionary, which means the portfolio is managed for the client. It is not simply a basic self-directed account with suggestions layered on top.
In addition to the managed strategy itself, SogoTrade promotes the service as a simpler way to gain exposure to an options-based income approach without having to build and manage multiple covered-call positions manually.
SogoTrade Self-Directed Pricing
Now we come to the big question nearly every trader wants answered: what does it cost? Like many brokerage firms, SogoTrade has updated its pricing in recent years to stay competitive.
For self-directed accounts, SogoTrade no longer has a general low-balance fee. Taxable accounts do not have standard annual maintenance charges, although a quarterly inactivity fee can still apply in some cases. There is an annual IRA fee of $25, and closing an IRA costs $75.
Trading costs have also changed. Qualifying limit orders receive $0 commissions. To qualify, a limit order generally must be at least 100 shares or have a principal value of at least $2,000. Otherwise, the equity commission is $2.88.
And here is where SogoTrade gets unusual: some qualifying limit orders can earn a rebate. The credit is $1 for every 1,000 shares traded. There is important fine print, of course. For example, the program applies only during the regular day session, and the order must add liquidity rather than execute immediately.
Other orders do come with fees, and no credit applies. Market orders, OTC trades, and certain non-qualifying orders are charged $2.88. Penny stocks also carry an extra low-priced security fee.
Options trades have no base commission, but there is a 50¢ per-contract fee. Exercises and assignments cost $15.
Cryptocurrency trades cost 1% of trade value with a $1 minimum commission.
Then there are the miscellaneous charges. Placing a trade by phone with a live representative comes with a $25 surcharge. A paper tax document costs $10. And there is a $3 quarterly inactivity fee in certain situations.
Asset Management Fees and Minimums
Advisory accounts do not pay trading commissions, but they have their own fee structure. SogoTrade Asset Management’s standard service charges 0.75% per year. For PowerYield Portfolio accounts, there is an additional 0.5% annual fee, bringing the total to 1.25% annualized.
Fees are billed monthly, and the minimum monthly charge is $5. That means smaller accounts can end up paying a relatively high effective percentage.
As with many advisory firms, the company reserves the right to negotiate, reduce, or waive fees in some situations.
SogoTrade Margin Rates
A cash account can be upgraded to margin status on the SogoTrade website. It is also possible to convert a margin account back to cash status.
Margin accounts get decent, although not outstanding, interest rates on borrowed funds. Currently, the sliding scale starts at 12.75% and drops to 8% for debit balances of at least $1 million.
The broker’s trading platforms show overnight and day-trading margin requirements for entered ticker symbols on both long and short trades.
The software also displays the amount of buying power available in a margin account. On SogoOnline, this information appears next to the trade ticket.
SogoOnline
Self-directed accounts at SogoTrade can choose from multiple software platforms. The first one we’ll look at is SogoOnline. This is the broker’s most basic platform, so it’s a good place to start. It is web-based and can be launched from the Trade tab on the website.
SogoOnline can submit stock and options trades. However, options tools are pretty basic. There are no integrated option chains, so traders need to know the contract details ahead of time. Fields such as expiration, option type, and opening or closing action must all be selected manually.
The stock ticket has 6 order types, including stop and trailing stop limit. There is also a separate sell-short choice.
SogoTrader
Next is SogoTrader. This platform is launched from the same Trade tab and offers a slight improvement. Entering a ticker symbol brings up a chart, although the charting remains very basic. It cannot be expanded across the full screen, and tools are almost nonexistent. The only display styles are line and candlestick.
The order ticket at the top of the screen is the same one used on SogoOnline. There are two duration choices: day and GTD. GTD orders require an expiration date.
SogoOptions
Although SogoOnline can place derivative trades, it is very limited. SogoOptions is much more capable and delivers a stronger experience for option traders. It can also be found under the Trade tab.
The dedicated options platform includes many useful tools. These include:
- Greek values with charts
- Profit-loss diagrams
- Integrated spreads
- Build-your-own order tools
- A probability calculator
Integrated spreads can be filtered by outlook on the underlying security, such as bullish, bearish, neutral, or volatility-driven. Examples include long straddles, covered calls, and bull put ladders. The platform also shows a general profit-and-loss diagram and a description of each strategy.
The order ticket can be filled in by clicking directly on a bid or ask quote from the options chain.
During our test drive of SogoOptions, some tabs occasionally failed to load in Google Chrome during market hours. The issue was resolved by switching to Microsoft Edge.
SogoElite
Finally, there is SogoElite. Despite the name, it is not especially advanced. In fact, it does not place trades, which really raises questions about its role. SogoElite is mainly used for charting and watchlist management.
To gain access to a program that cannot submit orders, an account must be funded and enrolled in real-time quotes. SogoTrade charges for real-time data, with fees ranging from $1.25 to $3.00 per month.
Mobile App
SogoTrade’s mobile app works on both Apple and Android phones and tablets. The software provides charts with three display styles: bar, candlestick, and mountain. A chart can be rotated horizontally, which does help with viewing, although there are still no tools.
Option chains are available for calls and puts, although there are no built-in strategies. It is still possible to create custom multi-leg orders.
The order ticket is once again the same one used elsewhere. This ticket includes a special GP2T order type, which is the one needed to try to qualify for the paid-to-trade feature.
There is a watchlist that doesn’t sync with the website. Alerts can be added to individual securities. Beyond that, there isn’t a lot more to mention. There is no video news, and mobile check deposit is not available.
Supplementary Services
Initial Public Offerings: IPO trading is not available.
Extended Hours: SogoTrade offers pre-market trading from 7:00 am until 9:25 am, Eastern Time. Its after-hours session runs from the closing bell until 7:00 pm. Phone orders are not accepted during either session.
Individual Retirement Accounts: U.S. citizens and permanent residents can open Roth, SEP, and Traditional retirement accounts.
Fractional-share Trading: Only whole shares of stocks and ETFs can be traded. Cryptocurrencies, however, can be traded in fractions.
DRIP Service: Dividends can be reinvested as additional shares inside a SogoTrade account, although clients must send a request to services@sogotrade.com.
Recurring Mutual Fund Purchases: Not available. Mutual funds themselves are not offered.
Recommendations
Individual Retirement Accounts: With multiple IRA fees, we cannot recommend SogoTrade.
Charles Schwab has more IRA types and does not charge those annual IRA fees.
Mutual Fund Investors:
Charles Schwab has thousands of funds without transaction fees.
Beginners: A managed account with SogoTrade Asset Management could be a decent starting point.
Active Stock and ETF Trading: SogoTrade’s software is not the strongest we have used.
moomoo has
better trading platforms with fractional-share trading as an added benefit.
Long-Term Investors and Retirement Savers:
Charles Schwab
has lifecycle mutual funds, annuities, individual 401(k) plans, branch locations, IRA calculators, and much more.
Small Accounts: For self-directed trading, SogoTrade has no minimum deposit. For managed investing,
we recommend Robinhood Strategies, which has only a $50 minimum.
SogoTrade Review Summary
SogoTrade has a decent advisory service, although its self-directed program still needs work, especially when it comes to software. The paid-to-trade program is an interesting feature, and the broker’s foreign account service is relatively uncommon.
Updated on 3/26/2026.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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