Is SogoTrade free?

SogoTrade does charge a commission for real stock trading on US markets, so in this sense it is not a free-to-trade broker. However, it might still be a reasonable choice for some of you, as there are many other aspects other than commissions that are important when you choose a broker. If you wish to stick with SogoTrade though, then you will find the fees they charge below. Alternatively, you could check our article detailing the best zero commission brokers and how their apps scored in our test.

We should note that the payment-for-order-flow model, which is used by some zero-commission brokers to generate income (rather than relying on commissions), could potentially create a conflict of interest between you and your broker. This could result in trade execution (like routing your orders to specific market makers) that might be unfavorable for you under certain market conditions, especially when using market orders (as opposed to limit orders, which seem to be less affected).

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SogoTrade fees
Overview of SogoTrade fees and charges

It's safe to say that SogoTrade's fees are low in general. They either don't charge a brokerage fee for things that other brokers do, or they only charge a small amount.

Here's a high-level overview of SogoTrade's fees

SogoTrade Fees snapshot
Assets Fee level Fee terms
US stock fee Low $2.88 flat fee/trade for market orders, $0 for limit orders
EURUSD fee - Not available
US mutual fund fees - Broker-assisted only
Inactivity fee Low No inactivity fee

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SogoTrade fees
SogoTrade fees explained

Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely because online brokerages' businesses can be much better scaled: from a purely technical standpoint, it doesn't make that much of a difference for them if they have 100 or 5,000 clients.

This is not to say, however, that they don't charge any fees at all. They make money by charging you various rates for various actions or events. Usually you need to keep an eye on the following three types of fees:

  • Trading fees - these are brokerage fees that you pay when you actually carry out a trade, like buying an Apple share or an ETF. What you pay is either a commission, a spread or a financing rate. Some brokers apply all of these.
    • A commission is either fixed or based on the traded volume.
    • A spread is the difference between the buy price and the sell price.
    • A financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
  • Non-trading fees. These are usually related to some operations you carry out in your account, such as depositing money, withdrawing money, or not trading for an extended period.

We compare SogoTrade fees with its closest competitors, ChoiceTrade and TradeStation.

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SogoTrade fees
SogoTrade trading fees

SogoTrade's trading fees are low, which makes it suitable for you even if you trade often (i.e. several times a week).

Let's break down trading fees according to the different asset classes available at SogoTrade.

Trading fees

SogoTrade's trading fees are low.

Stock fees and ETF fees

SogoTrade has low stock trading fees.

Stock fees of a $2,000 trade
SogoTrade ChoiceTrade TradeStation
US stock $2.9 $0.0 $0.0
UK stock - - -
German stock - - -

Options fees

SogoTrade's options fees are low.

Options fees for 10 contracts
SogoTrade ChoiceTrade TradeStation
US stock options $5.0 $20.0 $0.0
US stock index options $5.0 $20.0 $6.0
UK stock index options - - -
German stock index options - - -

Margin rates

SogoTrade margin rates are high.

SogoTrade margin rates
SogoTrade ChoiceTrade TradeStation
USD margin rate 13.0% 8.9% 11.5%
EUR margin rate - - -

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SogoTrade fees
SogoTrade non-trading fees

When it comes to non-trading fees, SogoTrade is a rather cheap broker.

Non-trading fees include various brokerage fees and charges at SogoTrade that are not related to buying or selling assets. This can be a withdrawal fee, deposit fee, inactivity fee or account fee.

A high-level overview of how SogoTrade stacks up in terms of non-trading fees
SogoTrade ChoiceTrade TradeStation
Withdrawal fee $0 $5 $0
Deposit fee $0 $0 $0
Inactivity fee No Yes Yes
Account fee No Yes No

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SogoTrade fees
SogoTrade deposit fee

Usually, brokers don't charge anything for deposits, and SogoTrade is no different.

SogoTrade deposit methods
SogoTrade ChoiceTrade TradeStation
Bank transfer Yes Yes Yes
Credit/debit card No No No
Electronic wallets No No No
Deposit fee $0 $0 $0

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SogoTrade fees
SogoTrade withdrawal fee

SogoTrade generally doesn't charge a withdrawal fee.

SogoTrade withdrawal fees and options compared
SogoTrade ChoiceTrade TradeStation
Bank transfer Yes Yes Yes
Credit/debit card No No No
Electronic wallets No No No
Withdrawal fee for bank transfer $0 $5 $0

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SogoTrade fees
SogoTrade inactivity fee

SogoTrade does not apply an inactivity fee, which is great because your account won't be charged even if you do not trade for an extended period (like several months or years).

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Author of this article

Ádám Nasli

Author of this article

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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