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 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
|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 tech fund fee||-||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 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. 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, ChoiceTrade and Passfolio.
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.
SogoTrade's trading fees are low.
Stock fees and ETF fees
SogoTrade has low stock trading fees.
SogoTrade's options fees are low.
|US stock index options||$5.0||$20.0||-|
|UK stock index options||-||-||-|
|German stock index options||-||-||-|
SogoTrade financing rates are .
If you want to trade on margin and prefer to hold your positions long, financing costs can be significant.
|Apple CFD financing rate||-||-||-|
|Vodafone CFD financing rate||-||-||-|
|EURUSD financing rate||-||-||-|
|EURGBP financing rate||-||-||-|
Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange/CFDs with any level of leverage may not be suitable for all investors.
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SogoTrade non-trading fees
When it comes to looking at all the non-trading fees SogoTrade is a cheap broker. This means that they don't 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.
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 withdrawal fee
Unlike some online brokers we have reviewed SogoTrade does not charge a withdrawal fee. This means that you'll see the same amount of money on your bank account that you transferred from your brokerage account.
|Withdrawal fee with bank transfer||$0||$5||$0|
SogoTrade inactivity fee
SogoTrade does not apply an inactivity fee which is great because your account will not be charged even if you do not trade for a longer time period (months or years).