Company Summary
| SogoTrade Review Summary | |
| Founded | 1986 |
| Registered Country/Region | United States |
| Regulation | No regulation |
| Market Instruments | Stocks, ETFs, Options, Cryptocurrencies |
| Demo Account | ❌ |
| Trading Platform | SogoTrade Pro App, SogoTrade Pro Web, SogoTrade Web Platform, SogoOnline |
| Minimum Deposit | $0 (but $100 minimum required for stocks priced under $1) |
| Customer Support | Live chat |
| Phone: 1-888-709-7646 | |
| Email: services@sogotrade.com | |
SogoTrade Information
SogoTrade, an online brokerage company in the United States, was founded in 1986. It provides low-cost access to stocks, ETFs, options, cryptocurrencies, and margin trading. While its fees are appealing, particularly for busy traders, the company lacks regulatory control and does not provide demo or Islamic accounts, which may cause anxiety for certain investors.
Pros and Cons
| Pros | Cons |
| Very low fees on stocks, options, and margin interest | No regulation |
| Multiple account types including IRA and custodial | No demo accounts |
| Modern platforms for mobile and web trading | Limited information on fees |
Is SogoTrade Legit?
SogoTrade is not now governed by any acknowledged financial authority, no. Though registered in the United States, it lacks a legitimate license from the U.S. Securities and Exchange Commission (SEC).
WHOIS records show the name sogotrade.com was registered on September 7, 2005, last modified in 2015, and will expire on September 7, 2025. The domain is live with a “client transfer prohibited” status, meaning it is restricted from being transferred without the owner's consent.
What Can I Trade on SogoTrade?
SogoTrade provides a diverse range of trading and investment products, including stocks, ETFs, options, cryptocurrencies, margin trading, and automated portfolios for both active and long-term investors.
| Trading Instruments | Supported |
| Stocks | ✔ |
| ETFs | ✔ |
| Options | ✔ |
| Cryptocurrencies | ✔ |
| Forex | ❌ |
| Commodities | ❌ |
| Indices | ❌ |
| Bonds | ❌ |
Account Type
SogoTrade provides a broad spectrum of live account kinds including individual, joint, company, IRA, and custodial accounts. It does not, however, offer Islamic (swap-free) accounts or demo accounts.
| Account Type | Feature | Suitable for |
| Individual Account | A personal investment account for one individual | General retail investors |
| Joint Account | Shared account between two individuals | Spouses, partners, or co-investors |
| Business Account | For corporations or LLCs | Companies managing investment portfolios |
| IRA Account | Retirement accounts: Traditional, Roth, or SEP IRA | U.S. residents planning for retirement |
| Coverdell Education Savings Account | Tax-advantaged account for education expenses | Parents saving for a child's education |
| UTMA/UGMA Account | Custodial account for minors | Adults managing assets for children |
| Trust Account | Account managed under a legal trust agreement | Estate planning or fiduciary purposes |
SogoTrade Fees
SogoTrade's fees are typically lower than the industry average, particularly for stock and options trading and margin interest rates. It also has no minimum deposit requirement, making it suitable for new investors.
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| SogoTrade Pro App | ✔ | iOS, Android (Mobile App) | Active traders seeking mobile trading with Level I/II data, alerts, and custom views |
| SogoTrade Pro Web | ✔ | Web Browser (Desktop/Web) | Active/self-directed traders needing customizable dashboards and advanced tools |
| SogoTrade Web Platform | ✔ | Web Browser (Desktop/Web) | General retail investors trading stocks, ETFs, and options |
| SogoOnline | ✔ | Web Browser | Simpler web interface for basic trading needs |
西7752
Taiwan
The fraud group is rampant and transfers investors’ money on the same day of deposit. It is basically a fake platform.
Exposure
西7752
Taiwan
At first, a stranger told me to help me trade virtual currencies. I could withdraw money at the beginning, but I didn’t play for a while because of my busy work. Later, it was shown that the bonus was 168888, and a 22% deposit was required. Since I didn’t have that much cash on hand, the man said he could help me pay part of it, and the money would be transferred to the address he provided, and then...I was scammed.
Exposure
yiting
Taiwan
Suspected fake customer service provided activities to induce participation in the activities, causing the account to be frozen and unable to withdraw funds.
Exposure
Andyliew
Cyprus
SogoTrade's swaps rates are better than most if not all. Ticks are richer than some brokers as well. I just wish I had found this broker earlier.
Neutral
风格86450
Malaysia
Exceptional support team. I had a few questions, and all emails and chats were answered within minutes. In terms of customer service, SogoTrade deserves five stars.
Positive