SogoTrade Logo
Written by: Ádám N. Updated: Dec 2022
Expert verified
Recommended for
  • beginners
Trusted broker
Regulated by top-tier financial authorities
Popularity
204 people chose this broker in the last 6 months
BrokerChooser Score
4.2/5

SogoTrade review summary

SogoTrade is a US-based stockbroker, regulated by top-tier US authorities like the SEC and FINRA. SogoTrade charges low fees and its account opening process is user-friendly. Customer service is great, providing relevant and quick answers. It is a good choice for beginner investors. On the negative side, its charting tools are inadequate, and the product portfolio is focused heavily on US-listed assets. Also, non-US clients must pay a $50 fee for wire payouts. BrokerChooser gave SogoTrade a 4.2/5 rating based on analyzing 500+ criteria and testing via opening a live account.

SogoTrade is available in United States

SogoTrade pros and cons

Pros Cons
Low trading fees Poor charting tools
Quick and easy account opening US-focused product portfolio
Great customer service $50 fee for non-US payouts

SogoTrade main highlights

🗺️ Country of regulation USA
💰 Trading fees class Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account 1 day
💳 Deposit with bank card Not available
👛 Depositing with electronic wallet Not available
💱 Number of base currencies supported 1
🎮 Demo account provided No
🛍️ Products offered Stock, ETF, Options, Crypto
To read much more details about the broker's services and features, expand on the sections below.

SogoTrade review
Fees

3.9
SogoTrade has low options fees, and transactions using ACH are free. On the other hand, margin rates and wire withdrawal fees for non-US customers are high.
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SogoTrade review
Account opening

5.0
Opening an account at SogoTrade is fast and fully digital for both US and international citizens. There is a $25 annual fee for IRA accounts.
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SogoTrade review
Deposit and withdrawal

1.8
If you live in the US, transactions are free via ACH. Non-US clients on the other hand are charged $50 for wire withdrawals.
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SogoTrade review
Web trading platform

3.0
SogoTrade's web trading platform is user-friendly, with a good search function and many order types. However, it's not customizable, has a clunky look, and lacks two-step authentication.
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SogoTrade review
Mobile trading platform

3.5
The SogoApp is usable but has a dated design. It offers a variety of order types and price alerts, but lacks a secure two-step login. Charting options are also very basic.
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SogoTrade review
Desktop trading platform

0.9
The SogoTrade desktop trading platform has a lot to improve. The platform is not user-friendly, has a poor search function, and lacks a clear fee report.
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SogoTrade review
Markets and products

2.2
At SogoTrade, you can trade US stocks, ETFs, options and cryptos, but the offered assets cover only US markets. Some popular asset types, like futures, are not available.
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SogoTrade review
Research

3.5
SogoTrade's research tools are OK. The wide offering includes detailed fundamental data and some trading ideas. However, the charting tools are not user-friendly and inadequate.
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SogoTrade review
Customer service

5.0
SogoTrade has great customer support. You can reach out to them in many ways and customer service gives fast and relevant answers. However, support is not available 24/7.
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SogoTrade review
Education

0.5
SogoTrade's education section could use some improvement. The content is hard to navigate and there is no demo account. As a plus, a wide range of topics are covered.
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SogoTrade review
Safety

SogoTrade is regulated by top-tier US regulators like the SEC and FINRA. There is also a high amount of investor protection for up to $500,000, including $250,000 for cash.
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SogoTrade review
Bottom line

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SogoTrade review
FAQ

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Author of this review

Ádám Nasli

Author of this review

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo trading, programming and trading.

Ádám Nasli

Analyst Head

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo trading, programming and trading.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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