Founded in 1986 in South Carolina, United States, SogoTrade is a regulated online broker. They offer competitive fees on trading across a range of investment products, including stocks, ETFs, Options, and more.
The broker provides clients with intuitive trading platforms, market research, educational center, trading tools, and multilingual customer support for both Chinese and English customers.
SogoTrade Review Introduction
In this SogoTrade review, we will take a look at some of the most important factors worth considering when choosing a broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare brokers including SogoTrade.
SogoTrade Platforms & Tools
SogoTrade provides a range of powerful and flexible trading platforms to suit the styles and requirements of different traders. The platforms can be switched between English and Chinese at the click of a button, and they include:
- SogoTrader: This is a fully customizable trading platform; it incorporates leading technologies including real-time streaming quotes along with trading tools and features for conducting in-depth market analysis. Clients can connect directly to SogoTrade through the Application Programming Interface (API).
- SogoOnline: This is an all-in-one trading platform for trading directly in your web browser, without needing to download or install any additional software.
- SogoElite: A downloadable desktop platform, it provides real-time streaming market data and low latency trading on U.S stocks, ETFs, and options.
- SogoMobile: This is a mobile web-based trading platform. Clients with internet-enabled mobile devices can access their accounts and place trades while on the move.
- SogoApp: This is a fully customizable trading platform, which is available for Android and iOS devices.
- SogoOptions: It offers options trading, with streaming quotes, powerful analysis, and risk management.
The broker also provides clients with a variety of market research and trading tools that can help them achieve their financial goals. These tools include the Morning Call Newsletter, SogoPlay options tool, and more.
SogoTrade Research & Education
The broker has a dedicated educational center with a range of materials that can improve the skills and knowledge of all levels of traders.
SogoTrade Trading Accounts
SogoTrade has a good selection of different account types, which cater to different investing goals. There is no minimum deposit required, and the different account types include:
- Individual Account: This is an investment account that is opened for one person.
- Joint Account: It is an investment account for two people.
- Business Account: This account type is for a corporation or LLC.
- IRA Account: This is an account for the Traditional IRA, Roth IRA, or SEP IRA.
- Coverdell Education Saving Account
- UTMA/UGMA Account
- Trust Account
The broker also provides margin accounts, where traders can borrow money to buy marginable securities.
SogoTrade Account Funding
SogoTrade offers wire transfer, check, and automated clearing house (ACH) as the available account deposit and withdrawal methods. The transaction fees and the processing time vary with the payment method used.
SogoTrade Customer Service
The broker provides clients with a multilingual customer support team that is available 24/5, providing prompt answers to traders’ general, technical, and account-based questions. They can be reached via online chat, telephone, and email.
SogoTrade Inc. is a member of the Financial Industry Regulatory Authority (FINRA). FINRA is a non- governmental organization that regulates member brokerage firms and exchange markets.
SogoTrade Review Summary
SogoTrade is a regulated and established online brokerage, located in the United States. They have a range of user-friendly trading platforms. The broker offers stocks, ETFs, Options, and more.
It is worth mentioning that some of the trading products and services in this SogoTrade review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the SogoTrade broker website which you can visit by using the link below.
Trading complex instruments can come with a high risk. You should consider whether you understand how investments and trading work and whether you can afford to take the high risk of losing all of your money.