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, ETFs, mutual funds, Treasuries, corporate bonds, and certificates of deposit |
| SogoTrade minimum deposit to open account | $0 cash account, $2,000 margin account |
Overview of SogoTrade
Although it is not the most widely known brokerage firm, SogoTrade has an impressive lineup of trading and investment services with one of the most unusual commission schedules available. It is definitely worth taking a look at.
SogoTrade Pros
Paid to trade: Customers can actually make money by placing qualifying trades.
Multiple software platforms: These include an API for institutional clients.
Asset management: Advisory accounts are available.
SogoTrade Cons
Not always commission-free: Some equity trades have commissions.
Limited customer service: There are no retail branch locations offering general walk-in service or 24/7 customer support.
Numerous fees: IRAs, options, and other services have fees in several situations.
SogoTrade Investment Services
SogoTrade offers both self-directed and advisory accounts. The self-directed service has the largest selection of tradable investments. These include:
- Equities
- Exchange-traded and closed-end funds
- Option contracts
- Cryptocurrencies
- Broker-assisted mutual funds
- Broker-assisted fixed-income securities
SogoTrade’s cryptocurrency service is provided through Bakkt, not Apex. SogoTrade also offers mutual funds and fixed-income securities through broker-assisted trades. Fixed-income products include Treasuries, corporate bonds, and certificates of deposit. Precious metals, futures, forex, and direct trading on foreign exchanges are unavailable. Certain foreign ordinary securities that trade on the U.S. OTC market may be available, although an additional foreign-security fee applies.
What is not missing is a large assortment of account types. SogoTrade manages to offer quite a few accounts, some of which have tax benefits. Besides individual and joint accounts, SogoTrade offers custodial, business, estate, retirement, trust, education, and institutional accounts.
Some of these accounts can be opened by non-U.S. citizens through SogoTrade’s international-account service. Some visa holders do not need a Social Security Number, which is a useful feature. Either Chinese or English must be used on the account application.
SogoTrade customers receive a free EvoShare membership, which provides cash back that can be deposited into a SogoTrade account without an annual or monthly membership fee.
Opening an Account
It takes just a few minutes to complete SogoTrade’s user-friendly online application. However, an account may not be approved immediately. It can take SogoTrade several days to approve an application, and while this process is taking place in the back office, it may not be possible to log in to the broker’s website.
While opening a U.S.-based account, we received an email requesting three documents: proof of residency, a copy of a Social Security card, and a copy of another government-issued ID, such as a driver’s license. This increased the amount of paperwork involved and the total time required to open the account. Nevertheless, our account was opened in less than 6 hours. It took SogoTrade 11 calendar days to enable the account for ACH transfers, and only one bank could be connected during the first 90 days.
Americans and non-Americans should begin by clicking the orange “Open an Account” button on the SogoTrade website. Foreign applicants may be required to submit digital copies of several documents, such as a passport, visa, and proof of residency.
Options, margin, and cryptocurrency privileges can be requested through the account-opening process. A managed account can be opened through the PowerYield Portfolios section of SogoTrade’s website.
Customer Service
Applicants and customers can contact SogoTrade’s customer-service team during the week. We emphasize “during the week” because the brokerage firm is closed on weekends. Customer-service hours are Monday through Friday from 8:00 a.m. until 6:00 p.m. ET. During these hours, we attempted to call both the company’s local number and toll-free number but received no answer after several attempts.
A human-operated chat widget is available on the SogoTrade website during business hours. Look for the “Support Chat” or “Live Help” link at the top of the site. We received a response through this channel, so online chat may be more consistent. There is also an email form on the broker’s Contact page.
SogoTrade caters to the Chinese-speaking community. As a result, its call center has Chinese-speaking representatives. This section of the company has the same hours already mentioned. There are phone numbers for clients located in China, Taiwan, and Hong Kong. The Hong Kong office is open 24 hours a day, 5 days a week.
The SogoTrade website can be displayed in simplified or traditional Chinese. Links for these versions appear next to the chat link. Accessibility settings are available in the bottom-right corner.
SogoTrade Asset Management
Besides self-directed trading, SogoTrade offers an extensive investment-advisory program through SogoTrade Asset Management, which is operated by MarketRiders. It is a hybrid automated-and-human service. Software helps create, monitor, and rebalance ETF portfolios, while each managed-account client is assigned an individual investment advisor.
Depending on the client’s location, an assigned advisor may be available for an in-person consultation. Advisors can also be reached by telephone, online chat, email, or video conference during regular business hours.
The standard managed-account program currently offers Core and Risk Optimized portfolios. SogoTrade Asset Management also offers PowerYield Portfolios, which invest in YieldMax ETFs that use covered-call strategies in an effort to produce income.
An online form begins the managed-account application. Only six questions appear on the standard automated questionnaire, which we consider a significant weakness. Examples of questions include:
- How much would you like to invest?
- How much risk can you handle?
- How much investment experience do you have?
SogoTrade Asset Management’s algorithm uses the answers to create an ETF portfolio. The available portfolios are not limited to Vanguard and iShares funds. In particular, PowerYield Portfolios are built with YieldMax ETFs.
In addition to the standard managed-account program, SogoTrade Asset Management offers an Enhanced Services program. It includes additional services such as tax-loss harvesting, a financial plan, debt-reduction advice, retirement planning, annual financial-plan updates, and related guidance.
SogoTrade Self-Directed Pricing
Now we come to the important question that virtually every trader will want answered: What does all of this cost? Like most brokerage firms, SogoTrade has updated its commission schedule in recent years to reflect the growing trend toward less-expensive trading.
SogoTrade has removed its former low-balance fee. However, some taxable accounts may be charged a $3 quarterly inactivity fee. There is an annual IRA fee of $25, and closing an IRA costs $75.
Trading fees have changed as well. Limit orders qualify for $0 commissions if they are for at least 100 shares or have a principal value of at least $2,000. Otherwise, the commission is $2.88.
SogoTrade becomes particularly interesting because qualifying limit orders can receive rebates. The payment is $1 for every 1,000 shares traded. There is some fine print on this offer, of course. It is valid only during the regular trading session, and the order must contain at least 100 shares. A qualifying buy limit order must reach the market center at least one cent below the ask, while a qualifying sell limit order must arrive at least one cent above the bid. In other words, the order cannot be immediately marketable.
Other types of orders have trading fees and do not receive rebates. Market orders and trades of OTC stocks have a $2.88 commission. Stocks priced below $1 also have a $2.88 commission plus a surcharge of $0.0003 per share or 0.25% of the trade’s principal amount, whichever is greater. The per-share calculation is capped at 5% of the principal amount.
Option trades have no base commission but have a per-contract fee of 50¢. Assignments and exercises cost $15. OCC clearing, regulatory, and certain proprietary-index option fees may also apply.
Cryptocurrency trades cost 1% of the trade value, with a minimum fee of $1.
Then there are miscellaneous charges. Placing a trade over the phone with a live representative has a $25
broker-assisted commission. A paper tax document costs $10, which is perhaps the most disappointing fee.
A $3 quarterly inactivity fee may apply if an account has no deposit, executed trade, or incoming ACAT during the quarter. The fee does not apply to several account categories, including IRAs, custodial accounts, SogoTrade Asset Management accounts, qualifying high-balance accounts, and certain margin accounts.
Asset Management Fees and Minimums
Advisory accounts pay no separate trading commissions, although other account and fund-level charges can still apply. The minimum is $1,000 for a Core portfolio and $25,000 for a Risk Optimized portfolio.
The standard managed-account fee is 0.75% per year, and it is calculated continuously and deducted monthly. The minimum fee is $5 per month, which means small accounts can pay a high effective percentage. PowerYield Portfolio accounts have an additional 0.50% annual fee, bringing their stated total management fee to 1.25%.
The Enhanced Services program costs an additional negotiated amount. This added fee cannot exceed 0.75% annually.
SogoTrade Margin Rates
A cash account can be upgraded to margin status on the SogoTrade website. It is also possible to downgrade a margin account to cash status.
Margin accounts receive tiered interest rates on borrowed funds. Currently, the sliding scale starts at 12.75% and drops to 8% for a debit balance of $1 million or more.
The broker’s trading platforms, which we will examine shortly, show overnight and day-trading margin requirements for entered ticker symbols and for both long and short trades. Standard overnight margin buying power is generally limited to 2:1. Eligible pattern day traders may receive up to 4:1 intraday buying power. Individual securities may have higher house-margin requirements.
The platforms also display the amount of buying power available in a margin account. This information appears next to the trade ticket on SogoOnline.
SogoOnline
Self-directed accounts at SogoTrade have several software platforms from which to choose. The first one we will examine is SogoOnline. This platform is the broker’s most basic trading program, so it is a good place to begin. It is browser-based and can be launched by hovering over the Trade tab in the website’s top menu and clicking the appropriate link in the drop-down menu.
SogoOnline can submit orders for stocks and options. There are no option chains, so users need to know the details of the contracts they want to trade. All relevant fields, such as option type, expiration date, and opening or closing transaction, must be selected manually.
The stock tab has 6 order types. These include stop and trailing-stop-limit orders. There is also a separate choice for short sales.
SogoTrader
Next is SogoTrader. Launched from the same Trade tab on the website, this platform is a little more advanced. An entered ticker symbol produces a chart. However, the chart cannot be displayed across the full width of the screen, and there are very few tools. Line and candlestick charts are the only two display choices.
At the top of the screen is the same order ticket found on SogoOnline. There are two duration choices: day and GTD. The second requires an expiration date.
SogoOptions
Although SogoOnline can submit orders for derivatives, it is a very basic platform. SogoOptions provides a much more advanced experience. It can be found under the same Trade tab.
The dedicated options platform has many useful resources. These include:
- Greek values and charts
- Profit-and-loss diagrams
- Integrated spreads
- Build-your-own order tool
- Probability calculator
The integrated spreads can be filtered according to the outlook for the underlying symbol: bullish, bearish, neutral, or volatility-based. Examples include a bull put ladder spread, long straddle, and covered call. The platform shows a general profit-and-loss diagram for each strategy along with a detailed description.
An order ticket can be populated by clicking a bid or ask price on the option-chain screen.
During our testing of SogoOptions, some tabs occasionally failed to load during the trading day in Google Chrome, which was an obvious drawback. The problem was resolved by switching to Microsoft Edge.
SogoElite
Finally, there is SogoElite. SogoElite is a downloadable platform that includes built-in trading capability, along with low-latency real-time quotes, dynamic charts, option chains, time-and-sales data, watchlists, and lists of major market movers.
An account must be funded and enrolled in real-time quotes to receive live market data. There are fees for certain real-time data subscriptions at SogoTrade, ranging from $1.25 to $3.00 per month.
Mobile App
SogoTrade’s mobile app works on Apple and Android phones and tablets. The software provides charts with three display choices: bar, candlestick, and mountain. A chart can be rotated horizontally, which makes it easier to view, although there are no charting tools.
Option chains are available for calls and puts, but there are no prebuilt strategies. It is possible to create custom multi-leg trades.
The order ticket is once again similar to the one already examined. This ticket has a special order type called GP2T, which must be selected to create an order intended to qualify for the Get Paid to Trade program.
There is a watchlist that does not synchronize with the website. Alerts can be added to a security. Unfortunately, there is not much else to report. There is no streaming video news, and mobile check deposit is unavailable.
Supplementary Services
Initial Public Offerings: IPO trading is not available.
Extended Hours: SogoTrade’s pre-market session runs from 7:00 a.m. until 9:25 a.m. ET, while its after-hours session runs from 4:00 p.m. until 7:00 p.m. ET. Only eligible listed securities and straight limit orders can be traded during these sessions. Phone orders are not accepted during either session.
Individual Retirement Accounts: U.S. citizens and permanent residents can open Roth, SEP, Traditional, and Rollover IRAs.
Fractional-Share Trading: Only whole shares of stocks and ETFs can be traded. Cryptocurrencies can be traded in fractional amounts.
DRIP Service: Dividends can be reinvested in additional shares inside a SogoTrade account. Clients must send a request to services@sogotrade.com.
Recurring Mutual Fund Purchases: Recurring mutual fund purchases are not available. However, mutual funds themselves are available through broker-assisted trades.
Recommendations
Individual Retirement Accounts: With multiple IRA fees, we cannot recommend SogoTrade for this purpose.
Charles Schwab offers more IRA types without annual or termination fees.
Mutual Fund Investors:
Charles Schwab offers thousands of mutual funds without transaction fees.
Beginners: A managed account with SogoTrade Asset Management could provide a reasonable starting point.
Active Stock and ETF Trading: SogoTrade’s software is not the most advanced we have used.
thinkorswim has
more advanced trading platforms and offers fractional-share trading.
Long-Term Investors and Retirement Savers:
Charles Schwab
has a long list of lifecycle mutual funds, along with annuities, Individual 401(k) plans, branch locations, IRA
calculators, and many other retirement resources.
Small Accounts: SogoTrade has no minimum for self-directed cash accounts. For automated investing, we
recommend considering Webull Advisors, which currently has a $100 minimum, not a $50 minimum.
SogoTrade Review Summary
SogoTrade has a useful investment-advisory service, although its self-directed program needs improvement,
especially in the software category. The Get Paid to Trade program is worth considering, and the broker’s international-account
service is a relatively uncommon feature.
Updated on 6/18/2026.
Chad Morris has been analyzing investment firms for Brokerage-Review.com since 2015. Backed by FINRA Series 65, 66, and SIE credentials, his work reflects a deep knowledge of the retail brokerage industry and digital trading tools.
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