Sogotrade

Rating

User Reviews

$2.50 a trade. Flat fee. I THINK they charge per share if you trade stocks below a certain dollar amount though. If this was the movie Dodgeball, this would be Average Joe's gym, while Etrade and Thinkorswim is that complex gym with the nooks and crannies. Only for people needing to trade, nothing more.

&nbsp Brandon65 &nbsp 2016/10/11 11:20 &nbsp &nbsp

I have used Sogotrade and I have had a good experience with them. I was with them for 2 years when I was a new trader and was learning the ropes early on. I built up my portfolio and once it was decent sized and I could avoid the daytrade limit of $25,000 I transferred to TD Ameritrade. It is a very good place to start in when you are new, learning, and I am thankful for their services. If I was to start trading all over again, I would certainly use their services.

&nbsp TheGoose1 &nbsp 2016/10/11 11:20 &nbsp &nbsp

I love this broker - Sogotrade because it has low commisions, very good customer care , quick fills, and easy platform. I recommend to try it !

&nbsp Vinicius &nbsp 2016/10/11 11:20 &nbsp &nbsp

This is a cheap online broker if you are looking for a cheap place to swing.

&nbsp Westerntrader &nbsp 2016/10/11 11:20 &nbsp &nbsp

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!

&nbsp Christina &nbsp 2016/10/11 11:20 &nbsp &nbsp

Really will work with you on comisiion rate

&nbsp JSVaughn21 &nbsp 2016/10/11 11:20 &nbsp &nbsp

SogoTrade seems to be getting things done right. Low prices and good executions along with customer service with almost no wait times. Only issues are when it comes to tax season for me, but they always help me dig up the answers as best they can.

&nbsp JoeMac &nbsp 2016/10/11 11:20 &nbsp &nbsp

Best way to build strategy is to sid down, count all possible arguments in your trading style - put them down into the paper and see if they can work together or not, if they can work together find the way how to make them work together and remember about three main things : time, money and risk management.Chears!

&nbsp GoldDigger &nbsp 2016/10/11 11:20 &nbsp &nbsp

Sogotrade offer low commissions and has lots of shares to short!

&nbsp 4210timmy &nbsp 2016/10/11 11:20 &nbsp &nbsp

I tried SogoTrade for the low prices a few years ago, but the Customer Service was pretty lax and they had other issues. However, I was recently on the lookout for a new brokerage to try (about 3-4 months ago) and read some very mixed review of them still, but decided to give them another shot. I couldn't be more happy with them this time around. Customer Service is very responsive, when I have any issues (and I've not had many), they rectify them in very short order. I have been in contact with them via email, chat online, and on the phone; with each of these methods of contact, the customer service representatives were very responsive and there was no wait time (if there was, it was very minimal). While other people may have problems with SogoTrade, I have not... at least not this time around. It seems that they are for real when they tell me they have been making an effort to make customer service a high priority (when it clearly wasn't in the past). The website is still the same mostly and the platform is one that I like a lot. Executions have always been fine for me and I remember the education section (although it seems basic now) really helped me a lot when I wanted to start trading a few years back. Outside of the research (which is rather minimal in some spots), they seem great for stock or options trades these days. Thanks, Bill

&nbsp Bill &nbsp 2016/10/11 11:20 &nbsp &nbsp

Been with SOGO for a few years now. It was cheap to start. Their customer service has always been problematic, now it is gone. No one answers the phone- it just rings. It is not toll free any more. if you use them, BE CARFULL. my latest experience- -my latest issue with them involes them selling over $11000 of stock to cover a 3k margin call they didnt notify me about/was do. When I did get a "live chat" person, this is what I got: "[sogo2]: Being notified of margin calls, is not required. That is a service we provide to you. " ok fine, lets go with that. The call was for ~$3k, they sold OVER $11,000 in stock. When I asked why, here is what they said- "[Me]:so why did you sell over $11,000 of stock for a $3k margin call? [sogo2]: I was informed by our margin department that we sold 3 to 4 times that amount because of the requirements of that stock. [Me]:and as I asked- what REQUIRMENTS. there are none for ARCC [sogo2]: The requirements for ARCC is 25 Which is why we sold 3 to 4 times that amount [Me]:what does "25" mean? as in, they must be sold in blocks of 25? if so, no problem. why did you sell ALL 864 shows, or better yet, HOW since 864 is not devisable by 25. [sogo2]: 25requirement means that when we sell the positions to cover the call it only covers 25of the margin call. [sogo2]: So because of the 25requirements on that stock, it was $2924, which was used to cover the margin call. " They signed off after that and would not explain what "25" was. I am looking into how I file a complaint with the FTC. Not sure what else to do.

&nbsp Ssnsltd &nbsp 2016/10/11 11:20 &nbsp &nbsp

I started with Sogotrade a few years ago. I really like their rates,customer service, and their trading platform. I do not currently have them as a broker because they do not trade pink sheets, which it was the only downside that I can find for this broker. Other than that I was very pleased with the service provided.

&nbsp IgnacioLucero &nbsp 2016/10/11 11:20 &nbsp &nbsp

Sogotrade has a good online platform. the excutions are good. Unfortunately customer service kind of sucks. No good system for handling the calls and you wait to get a rep for FOREVER.

&nbsp Squicker &nbsp 2016/10/11 11:20 &nbsp &nbsp

I got on board with Sogotrade when they were under Gen. Everything was pretty good, and great commission rates. Then came the merger. At first a notice was sent to my email stating alittle bit of down time. No big deal as the down time was only like a week. Well, it turns out that the downtime is going on almost 6 weeks. Thats right 6 freaking weeks and still unable to trade! I have missed countless oppertunities-this merger has really really really sucked! Last week they told me I needed to send some documents and I would be ready the very next day. WRONG. I had to call them again today and got the same line. However, the rep I spoke with is the very first guy I talked with when I first opened my account. This rep seems to be the type to get things done, so I am going to give SogoTrade one more week max. If I can't trade within ONE week, I will pull my account and go elsewhere. I have been more than patient, and more than understanding with this broker, and one more week is where I am drawing the line. Period. If they continue to suck under wang then I will not give them one more chance. I have gave them about 15 too many chances for them to get thier crap straight-if they fail me once more then bye bye sogo, hello TOS. I will keep ya posted how they are under wang-if I make it that far.

&nbsp Phocker &nbsp 2016/10/11 11:20 &nbsp &nbsp

This is my first trading account. Sogotrade is nice for the new (broke) trader because it gets you in the game with very little money ($500). Trades are very affordable too. It seems as though the tools that are available on most other broker sites are much more advanced. The news items on Sogotrade don't keep up with other sites and the execution can sometimes be scary when things get moving on you. I am pleased so far with Sogotrade, but I'm assuming that as my skills/money advance that I will be using the trading platforms of those suggested by people way more successful than me.

&nbsp H2Oinspector &nbsp 2016/10/11 11:20 &nbsp &nbsp

tools & software aren't that great but for a swing account, sogotrade is great. $3 a trade can't be beat.

&nbsp ANOTHONYPROMISE &nbsp 2016/10/11 11:20 &nbsp &nbsp

they are cheap. thats why you use them. dont expect great everything. its 3.00 a trade. for a trader with small account you need cheap trades. Thats what you will get. Everything else will suck.

&nbsp Kenly3 &nbsp 2016/10/11 11:20 &nbsp &nbsp

I was attracted to SogoTrade by the fact they charge only $3 per trade and have no fees for inactivity (I did not plan to buy or sell all that frequently), but after WEEKS of trying, they STILL do not have my account set up to allow me to actually fund my account and start trading! I sent in all the required docs (copies of my ID, canceled checks with bank routing number etc.) to set up my account to be funded by electronic transfers, but after almost 2 weeks, it was still not set up. When I called the service line the automatic answering service immediately put me on hold where I waited for 40 minutes before anyone picked up the line. When a human finally answered, they looked up my account and confirmed that all the documents had been received and the bank account link was being set up and should be completed by the next day but he would send an email to confirm when it was set up. Well, no email came and after 4 more business days went by I called again (another 40 minutes on hold before anyone picked up the line) and this time was told that there was some problem with the routing number I had given. As I was on the phone I sent a copy of a voided check by email confirming the routing number, and he said that it all looked good and they would get the bank account added to my SogoTrading account right away and I should be able to see it by the next day. Now ANOTHER week has gone by and STILL the account is not set up. Meanwhile, buying opportunities have come and gone and I am loath to try calling again and endure another 40 minutes on hold to find out what the heck is going on. I have tried sending emails thinking that would get a quicker response, but I have not had a single email reply from anyone at SogoTrade. You would think they would want to get me set up so I could start trading and using their service (that's their whole business model, isn't it?), but they can't even manage to do that. Unbelievable! What a bunch of incompetent fools. Stay away! Do NOT try using this company. It ain't worth it!

&nbsp Tsunamilightwave &nbsp 2016/10/11 11:20 &nbsp &nbsp

I used Sogotrade for about 6 months. The first few months were fine. Great commisions compared to TDAmeritrade. And I didn't need customer service much. I always used Ameritrade's streamer since Sogotrade tools are nonexistent, but that's fine. But since January 2011, everything has gone downhill. First, they reneged on their commitment to provide Gainskeeper tax reporting for 2010. Next, there will be days where your buying power and daytrade buying power just will not appear correctly. You have to call to resolve the issue. That's where the fun starts. First you wait 10 minutes for a representative to take your info down. Next, they put you on hold for another 10 minutes. Eventually they tell you that everything is fixed up and will be fine the next day. THE NEXT DAY!!! What the $%@! So you wait and nothing changes. You have to waste another hour calling these clowns the next day. The system is just buggy and the customer service is too poor to make up for it. I finally transferred out, at least temporarily, for the following reason. Similar to another reviewer, last week they claimed that AH trading was unavailable one evening. I had an open position that need to be closed to avoid a call. I finally got them to manually place the order on the phone after hearing a bunch of excuses and wasting forever on the phone. The next day, my buying power is gone. Every rep gave me a different answer. First they told me it would be fine the following day. It wasn't. Instead, the next day I got an email saying I had a daytrade call. After more runarounds, the margin dept finally informs me that it all was a mistake and the manual trade placed a few days prior was incorrectly time-stamped or something. Again, I'm told everything will be fine the following day. And it wasn't. The following day, nothing again. I wait another day and the rep on the phone says the call is still on the account. I tell him i have an email confirming the call has been removed and he finally concurs. However he says my buying power is set to 1x cash for 90 days because of the call. But it wasn't even a valid call! I finally explain the entire situation and now he appears to recall such a situation being discussed in the margin dept. He says, wait for it... "IT'LL ALL BE FINE TOMORROW." So i'm trying another company out for now. Maybe I'll try Sogo out again for the low commissions, but if you don't have another account, be prepared to be out of business for days at a time. I just lost an entire week of trading because of these clowns. This was a probably one the best trading (shorting) weeks in a long time - heavy, predictable selling pressure; i certainly missed out on several thousand dollars gain. And you need those good days to cushion the more choppy days. I'm completely pissed at them. If you're going to trade with them, you need funds in another company as well just in case. and you'll need their tools or other software as well. Ameritrade has good tools, but everything else sucks. I don't yet have enough funds to daytrade in two accounts (you need 25k each to daytrade). When I do, perhaps I'll give them a second shot. But right now, Sogo is just plain TERRIBLE.

&nbsp Legohead &nbsp 2016/10/11 11:20 &nbsp &nbsp

Ok where do I start. Joined Sogotrade last year as they could short penny stocks as not too many brokers allow you to do that, first few months were great and I had no problems this could be due to the fact that I never called them by phone or emailed them. Ok now the trouble starts " One day I though I would adjust a limit trade afterhours thank god it was not tanking, could I trade ? Could I %($£ I tried to put a my limit trade up and it said I could not trade, so I called Sogotrade and waited on the phone for about 45 minutes seems average time now if your lucky, by the time they take your call your as mad as hell and probably jumping up and down if your trying to get out of a trade that is active and its costing you money. When the guy finally took my call they pass you to another dept more holding on the phone, then when you get though the guy could not even speak the English as I never took night school in Chinese that was a problem in its self, I tried to tell him what the problem was he seemed to understand after another 20 min's, anyway he said no trading after hours today, I said thanks for letting your customers know this as they were going though maintenance for pension. I got a email 15 minutes after the call saying there would be no trading after market ,"better late then never I guess". This is just one problem out of more than a few. I have had many others like orders getting canceled not being able to place orders, long waiting on the phone poor customer service. And the latest one they say I am a day trader even tho I have made just 4 trades in the last 4 months. How do they get away with this service ? I do not care they charge $3.00 for a trade this is the worst company I have every dealt with and their standards are so poor I would not recommend my worst enemy, boycott them at all costs. This is my honest opinion and I can be contacted anytime about this. If this helps just one person the amount of trouble I have had I will be happy.

&nbsp Zoidbar &nbsp 2016/10/11 11:20 &nbsp &nbsp

I have been using Sogo for about 2 years now. I am not a serious day trader, and agree with others that this site is not for that. Trades are generally slow, but in most cases I purchase on limits so that works for me. I am not sure that one could buy and sell in the same day. I generally don't so this is not a concern for me. I sell mostly on limits as well. The trade cost of $3 is a bit inaccurate though, I always seem to pay a bit more, but have been too lazy to really figure out what the extra amount is for, typically less than $1 so not that concerned. I started with an initial investment of $1000 and have since invested another $500 into the account. I monitor it on occasion, and there are two stocks that I purchased that are basically holding up the account, all the others are penny stocks and have not returned much value. Basically, this site fits my needs and is being treated more as a training aid for when I actually have more money to invest. I joine dthis site specifically for penny stocks, hoping to get some high dividends. Guess I keep buying the wrong ones. There is a decent educational tab that helps explain terms for beginners, but there is no help out there really to help make the right financial decisions, especially will the amount of money I am investing. Most of my investment money goes into my 401k and Roth IRA. If you are a day trader I would not recommend this site. If you are a long term investor that doesn't trade often, I would recommend it, and I will probably continue to use this site as well. I am also subscribed to the Motley Fool, which they recommend stocks that I can't afford, although I do own Ford, but bought them when they were at rock bottom.

&nbsp Motopat &nbsp 2016/10/11 11:28 &nbsp &nbsp

Their web based platform is buggy and crash prone. They have super slow executions. No tools to speak of. Most OTC and pinks are not available and sometimes even big board stocks are not available (u get an invalid symbol message). Their short list is not what it used to be. Customer service is ok at best when you can actually get through to someone. And the commissions are expensive. Yeah thats right u read correctly, $3 a trade is asking too much for this joke of a broker. They should charge a nickel per trade and rename their site to nickeltrades.com. Then maybe it'd be worth it.

&nbsp Aurinica21 &nbsp 2016/10/11 11:28 &nbsp &nbsp

I started using Sogo about a month ago to get the free trades. So far so good, but I still use Etrade Pro for my watchlist and other tools. Sogo is pretty basic, but it is cheap and I like that. I have read other reviews where they have messed up their trade, but so far I haven't had any probems. I only had one contact with customer service when I asked if I could short a particular stock and they responded right away. They do not allow pink sheets or shorting under $3.

&nbsp MarketAssassin &nbsp 2016/10/11 11:28 &nbsp &nbsp

Don't like their execution and have recently been bought out so are not the same as they used to be. Use Tos, IB or TD if you can.

&nbsp Stevebaldwin &nbsp 2016/10/11 11:28 &nbsp &nbsp

Pros- *low commission *sometimes decent shorts (will change soon) Cons- *Customer service is incompetent and rude. Complete a$$es is an understatement *Executions have gotten TERRIBLE. *The site crashes and their phone goes offline. Wtf is that!?!? They will leave you stuck in an open trade and then be rude to you when they tell you it's in their disclaimer and not their problem. NO offer to help fix anything. I will be completely gone soon.

&nbsp BigJsPage &nbsp 2016/10/11 11:28 &nbsp &nbsp

Unfortunately I'll have to pull this broker soon. It's difficult when you're up 80% in a month on it, but the executions have become horrible, sometimes not even an execution, and the surprises are even worse. I recently had stock, I had thought I sold. The orders said I did, and the thing just popped back up in my account. You don't want penny stocks after you sell them, you just don't! I'm sad that I missed the great Sogo days, when share's were plenty on the short list. I personally like their trading website. To sell a stock, you just click the number of shares and it sets it up for you. Quick and easy for me. Regardless, the cons are starting to outweigh the pro's and I'm thinking about a switch to Speedtrader or broad.

&nbsp Jout &nbsp 2016/10/11 11:28 &nbsp &nbsp

Ever since they switched to to Penson, it's been all downhill. First, their limit orders were not executing and that was great when I tried to close a position on an OTC where you can only place limit orders. Cost me a few hundred there. Their resolution was to give me a few free trades. WOW, thanks Sogo, that really made up for it. I recently added funds via ACH (don't ask me why), they processed it twice and overdrew my bank account. Called customer service and sat on hold forever. Finally got someone to tell me, "oh, sorry, it'll take a few days to fix it". That's Awesome! Sogo, to quote the great JohnWelshPHD..."YOU'RE FIRED". The absolute Worst. I felt like I was called Peggy from USA Credit.

&nbsp Kpottsnc &nbsp 2016/10/11 11:28 &nbsp &nbsp

You got to take the good with the bad with these guys. They have super cheap commissions, great source for borrows, never had a problem with fills (been using 4 months or so). The bad is no pre market/after hours, so if your o/n all you can do is watch your money leaving your account while you wait for 9:30. They dont allow you to trade pinks or short stocks under $3 both of which kind of suck, but you got to take the good with the bad as I said above. The tools are a joke, quotes are not very accurate either. I do not use them for accurate quotes. You definitely need another broker for tools in addition to sogo.

&nbsp Awktrader &nbsp 2016/10/11 11:28 &nbsp &nbsp

I tried sogotrade out because they were supposed to be kind of shorts. Tried several over the last month, MNKD, UPRO, SHZ, ASTM, etc. All no borrow. I have not made a trade in weeks due to the short limitations. The web based site for orders is a joke. It's like someone drew on my monitor with a crayon. Lastly, I had a limit order in say at 8.40. The stock printed 8.30, but the order never executed. I covered at 8.45, so who cares right? I was just curious on why the no fill. Called customer service and it was like I asked them to cure cancer. Plus, I want not sure if they even spoke english, so who knows what the heck they said. Bottom line, this is a discount broker for a reason. Sogotrade, you are fired. Welsh

&nbsp Johnwelshtrades &nbsp 2016/10/11 11:28 &nbsp &nbsp

Good overall value, simple trading platform. If you move your funds in and out of your account frequently, you'll get this email which I did not appreciate. I often move my funds to other brokers when I think I will be shorting stocks under $3 or when I want to trade futures. They don't allowing shorting stocks under $3 and they don't offer futures trading as part of their services. "It has come to our attention that you have been frequently transferring In/out funds in amounts over $10,000 from/to your account without making any investments. In order to facilitate your request, and be sure not to disrupt any future transfers, we will need a detailed explanation as to why you are making such transactions and what your intentions are for your account as per our Anti Money Laundering program." Took 2 days for them to accept my wire for my account.

&nbsp Lambieng &nbsp 2016/10/11 11:28 &nbsp &nbsp

I tried SogoTrade back in 2007 when I found out they had extremely low execution costs for online trades. However, the service was not very good and they seemed to have some issues that needed to be worked out, so I just sort of left after about 9-10 months. After trying two other brokerages with mixed results, I decided to look around again and see what was out there today (about 7-8 months ago). I noticed a lot of mixed reviews for SogoTrade and with no better alternative (in my mind), I decided to give them another shot. I could not have been more pleased with the customer service and platform. I have never had any issues with executions or fills and customer service has been very responsive the couple of times I contacted them. Anyway, I was just wanting to put my 2 cents in and let you know about the positive experience I have been having with SogoTrade this time around.

&nbsp brickmason &nbsp 2016/12/08 15:01 &nbsp &nbsp

As a nerd, I was immediately impressed with Sogo Trade's information rich website. The website explains how to conduct trades and how to interpret the information you received. I'm especially impressed that it's all available for free, although I'm certain the purpose is to convince visitors to become customers. That's fine with me, and an effective way to go about it. Sogo Trade also emphasizes its value for money, offering discounts for prepaid trading and for being an active trader. I probably wouldn't take advantage of either of those services but I can see where they could be an asset for someone who is especially budget minded. Sogo Trade also allows investors to keep track of their trades via the mobile optimized website. The advantage of a mobile optimized site is that it can be used on a range of devices and operating systems. The login page showed up clearly on my iPhone, but there wasn't anything else available without logging in. I haven't established an account yet, but I will give Sogo Trade serious consideration when I decide to do so. I'm giving SogoTrade four stars: good

&nbsp AudreyH &nbsp 2017/5/02 15:05 &nbsp &nbsp