SogoTrade Review: Is This Trading Company Worth the Hype?

So, what is there to know about this broker? SogoTrade often pops up in discussions among traders. In this in-depth SogoTrade review, we’ll take a deep dive into the SogoTrade experience, covering many essential details. Let’s explore what SogoTrade broker has to offer. Keep reading for more details! 

SogoTrade Legitimacy and Company Details

So, is SogoTrade legit? When it comes to picking a broker, one of the first things to check is if it’s legit and well-regulated. SogoTrade ticks these boxes. It’s regulated by top US authorities like the SEC and FINRA, offering solid investor protection of up to $500,000, with $250,000 specifically for cash holdings. Trading with trusted regulators like these brings peace of mind.

Note: It’s good to know that RCE Banque is a suspicious company you should avoid. They aim to steal from you! 

Trading Assets Available

After you finish the SogoTrade login process, you will see many offers! At SogoTrade, you’ll find US stocks, ETFs, options, and crypto up for grabs. However, it’s important to note that these are limited to US markets. 

But SogoTrade does cover all US-listed equities, including small-cap and penny stocks, plus it supports pre-market and after-hours trading for added flexibility.

Trading Platforms We Can Expect

SogoTrade provides many solid proprietary trading platforms to suit different preferences. Whether you’re on the move with SogoMobile and SogoApp or prefer web-based SogoOnline, you’re covered. 

These platforms give us real-time quotes, interactive charts, and fast execution. However, it’s worth noting that SogoTrade doesn’t support popular platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which some traders might miss.

Trading Environment: Fees and Commissions Breakdown

Let’s talk about money and the SogoTrade fees. Here’s the scoop on SogoTrade’s fees:

• For stock and ETF orders, it’s $0 for limit orders and $2.88 per trade for market orders. There’s a 250,000 share online trade limit for listed stocks. If you’re going big, you’ll have to use the Trade Desk, which adds a $25 surcharge.
• OTCBB orders follow the same rules as listed stocks: $0 for limit orders, and $2.88 for market orders. If the stock’s under $1, there’s a $100 minimum investment or extra charges.
• Options are a $0 base commission, plus $0.50 per contract.
• Crypto trades come with a $1 fee or 1% of the trade value, whichever is more.
• Broker-assisted options cost $25.00 plus $0.50 per contract.
• Mutual funds trades? They’ll cost you $25.00 with broker assistance.
• Margin interest is 13.00% for a $10,000 balance and 8.25% for a $100,000 balance.
• Account-related stuff like closure, transfers, exercise, and wire transfers all have fees, so watch out for those.
• There’s even a live broker fee, which is $25 plus online commissions.

Tip: What about SogoTrade margin rates? SogoTrade offers margin accounts with interest rates that vary. 

SogoTrade Withdrawal Rules

Let’s talk about how the withdrawals really work. When you want to deposit, SogoTrade doesn’t charge you any fees. However, they only take bank transfers. If you’re in the US, you can also use ACH, checks, or ACAT to deposit. But remember, SogoTrade can only receive funds through regular bank SWIFT transfers, not the electronic transfers digital banks use.

For withdrawals, it’s different depending on where you live. In the US, ACH withdrawals are free. But if you’re not in the US, you’ll pay $50 for wire withdrawals. Keep that in mind! 

Client Reviews on Trustpilot

A peek at SogoTrade’s Trustpilot reviews reveals an average star rating of 3.0, which may raise some questions for those seeking a good broker. 

While mixed reviews are common, it’s essential to consider these ratings. Some users have had good experiences, while others have concerns. This is crucial to note. 

As with any broker, it’s wise to do thorough research and weigh the pros and cons. It’s best to stick with brokers that have 4.5-star ratings or more. 

Note: Be mindful and avoid fake brokers like Icorp Securities. Your goal should be to choose reputable companies that care about your security. To discover more companies like that, make sure to contact us now! We are here to provide you with a free consultation and help you decide! 

Can I Make Money From Online Trading?

Online trading can indeed be profitable, but it requires knowledge and the right tools. So, we decided to offer free consultations to help you make wise judgments. 

Plus, we created an AI Analysis Bot that simplifies research. Our AI Analysis Bot is a smart tool designed to assist traders like you in making better decisions. Instead of relying just on intuition, our bot uses advanced predictions to provide trading advice.

With our AI Analysis Bot, you gain a practical advantage, by all means. And what’s exciting is you can be among the first to try it. Simply reserve your spot for our upcoming launch, and you’ll enjoy a generous 20-day free trial with no initial payment required.

What’s included in our free plan? Take a look! 

• 5 FX analysis reports per month
• 5 stock analysis reports per month

This represents the future of trading. Sign up now and enjoy all these mind-blowing benefits. However, do keep in mind that trading carries some risks. It’s crucial to approach it with caution, a well-thought-out strategy, and a commitment to constant learning.

Note: Unregulated offshore brokers like Tradingexpo are dangerous. Avoid them to keep your funds safe! 

Final Verdict

All in all, SogoTrade is a discount brokerage firm offering a lot of trading assets, platforms, and tools. Its regulatory compliance and commission-free options make it appealing to many traders. 

Nevertheless, you should consider the limited offerings, slower withdrawals, and mixed Trustpilot reviews when making your decision. Ultimately, whether SogoTrade suits you depends on your trading preferences and goals.

If you want to start trading, finding the right broker is a significant step in your financial journey. Take the time to assess your needs, explore your options, and make a wise decision that aligns with your trading objectives.

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