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SogoTrade fees explained

Apr 2019
Compare to best alternative broker

Overview of SogoTrade fees and charges

SogoTrade logo

It's safe to say that SogoTrade's fees are low in general. They either don't charge a brokerage fee for things other brokers do charge for, or they only charge a small amount. This means that you can use SogoTrade even in case you trade frequently like multiple times a week or daily.

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

SogoTrade Fees snapshot
Assets Fee level Fee terms
US stock fee Low $4.88 flat fee/trade, $2.88 above 150 trades/quarter
EURUSD fee - Not available
US tech fund fee - Not available
Inactivity fee High $50/year, if balance is under $100 and 0 trades in the last 12 months

SogoTrade fees
SogoTrade fees explained

Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely due to the fact that 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 5000 clients.

This is not to say however that they don't have any fees at all. They make money by charging you at various events for various rates. Usually you need to keep an eye on these 3 types of fees:

  • Trading fees - these are brokerage fees that you pay when you actually do a trade, i.e. buying an Apple stock or an ETF. What you pay is either a commission, a spread or financing rate. Some brokers apply all of these.
    • A commission is either based on the traded volume or it is fixed.
    • A spread is the difference between the buy price and the sell price
    • Financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
  • Non-trading fees. These occur related to some operations you make in your account, i.e. depositing money to your account, withdrawing money from it or not trading for an extended amount of time.

We compare SogoTrade fees with its closest competitors, Tradestation and Interactive Brokers.

SogoTrade fees
SogoTrade trading fees

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

Let's break down the trading fees into 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 Tradestation Interactive Brokers
USA $4.9 $1.0 $1.0
UK - - $8.7
Germany - - $4.6

Options fees

SogoTrade's options fees are average.

Stock index options fees of 10 contracts
SogoTrade Tradestation Interactive Brokers
USA $9.9 $10.0 $7.0
UK - - $24.7
Germany - - $19.4

Financing rates

SogoTrade financing rates are high.

If you want to trade on margin and prefer to hold your positions long, financing costs can be significant.

SogoTrade yearly financing rates
SogoTrade Tradestation Interactive Brokers
Apple financing rate 11.0% 9.3% 5.8%
Vodafone financing rate - - 3.9%
EURUSD financing rate - - 4.9%
EURGBP financing rate - - 3.3%

SogoTrade fees
SogoTrade non-trading fees

When it comes to looking at all the non-trading fees SogoTrade is an expensive broker. This means that they tend to charge you a lot for non-trading related activities on your trading account, like withdrawal fee.

Non-trading fees include various brokerage fees and charges at SogoTrade that you pay not related to buying and selling assets. Among some others, typical non trading fees are withdrawal fee, deposit fee, inactivity fee and account fee.

A high level overview of how SogoTrade stacks up in non-trading fees
SogoTrade Tradestation Interactive Brokers
Withdrawal fee $50 $35 $0
Deposit fee 0 0 0
Inactivity fee Yes Yes Yes
Account fee No No No

SogoTrade fees
SogoTrade deposit fee

Deposit fees are applied when you send money to your trading account from your bank account. Usually brokers don't charge money for that and SogoTrade is not different: you will see the exact same amount on your brokerage account that you sent by any of the deposit methods SogoTrade offers.

SogoTrade deposit methods
SogoTrade Tradestation Interactive Brokers
Bank transfer Yes Yes Yes
Credit/Debit card No No No
Electronic wallets No No No
Deposit fee 0 0 0

SogoTrade fees
SogoTrade withdrawal fee

Unfortunately, quite like the majority of the online brokers we have reviewed SogoTrade does charge a withdrawal fee of $50 for the bank transfer. This means that you need to pay this amount of money when you transfer your money back to your bank account. It's up to you to decide whether this is a high amount or not as it's dependent mostly on the size of the transferred amount.

SogoTrade withdrawal fees and options compared
SogoTrade Tradestation Interactive Brokers
Bank transfer Yes Yes Yes
Credit/Debit card No No No
Electronic wallets No No No
Withdrawal fee with bank transfer $50 $35 $0

SogoTrade fees
SogoTrade inactivity fee

SogoTrade does apply an inactivity fee and it is $50/year, if balance is under $100 and 0 trades in the last 12 months. This means that you need to be strategic about your trading activity to avoid getting charged after a longer time of no trade. The fact that SogoTrade charges an inactivity fee makes it less ideal for you if you are a buy and hold investor.

SogoTrade has high inactivity fee.

SogoTrade Tradestation Interactive Brokers
Inactivity fee Yes Yes Yes
Inactivity fee $50/year, if balance is under $100 and 0 trades in the last 12 months $50 USD per year if less than 2000 USD on balance or less than 5 trades per year. $10 per month if you don't generate minimum $10 commission

Read more about SogoTrade inactivity fee on their own site.

AUTHOR

Gergely Korpos
Gergely Korpos
Co-founder, CPO
Gergely's aim is to bring more clarity into personal investing. He has 10 years of experience in financial markets with GE Money, KPMG and MOL. He concluded thousands of trades as a commodity trader and financial portfolio manager
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