Is SogoTrade free as of November 2024?
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).
Confused about fees? Use this tool to see what the commission fee of a specific stock trade would be at SogoTrade. To check and compare fees at other brokers, go to our main Fee calculator page.
Before doing so, check out our Privacy Policy and our General Terms and Conditions.
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
| Assets | Fee level | Fee terms |
|---|---|---|
| US stock fee | Low | $2.88 flat fee per trade for market orders, $0 for limit orders |
| EURUSD fee | - | FX not available |
| US mutual fund fees | - | Broker-assisted only |
| Inactivity fee | Low | No inactivity fee |
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.
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.
|
US stock
|
$2.9
|
$0.0
|
$5.0
|
|---|---|---|---|
|
UK stock fee
|
-
|
-
|
-
|
|
German stock
|
-
|
-
|
-
|
Data updated on November 20, 2024
Options fees
SogoTrade's options fees are low.
|
US stock options
|
$5.0
|
$4.0
|
$11.0
|
|---|---|---|---|
|
US stock index options
|
$5.0
|
$10.0
|
$15.0
|
|
UK stock index options
|
-
|
-
|
-
|
|
German stock index options
|
-
|
-
|
-
|
Data updated on November 20, 2024
Margin rates
SogoTrade margin rates are high.
|
USD margin rate
|
13.8%
|
11.5%
|
12.8%
|
|---|---|---|---|
|
EUR margin rate
|
-
|
-
|
-
|
Data updated on November 20, 2024
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.
|
Withdrawal fee
|
$0
|
$5
|
$0
|
|---|---|---|---|
|
Deposit fee
|
$0
|
$0
|
$0
|
|
Inactivity fee
|
No
|
Yes
|
Yes
|
|
Account fee
|
No
|
Yes
|
No
|
Data updated on November 20, 2024
SogoTrade deposit fee
Usually, brokers don't charge anything for deposits, and SogoTrade is no different.
|
Bank transfer
|
Yes | Yes | Yes |
|---|---|---|---|
|
Credit/debit card
|
No | No | No |
|
Electronic wallets
|
No | No | No |
|
Deposit fee
|
$0
|
$0
|
$0
|
Data updated on November 20, 2024
SogoTrade withdrawal fee
SogoTrade generally doesn't charge a withdrawal fee.
|
Bank transfer
|
Yes | Yes | Yes |
|---|---|---|---|
|
Credit/debit card
|
No | No | No |
|
Electronic wallets
|
No | No | No |
|
Withdrawal fee for bank transfer
|
$0
|
$5
|
$0
|
Data updated on November 20, 2024
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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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.
