SogoTrade was founded in 2006 and is one of the youngest online stock trading sites on the internet today. Even though they are a fairly young company they are also one of the most popular trading sites online. SogoTrade offers many different options for their customers including $3.00 stocks and $5.00 options, education benefits, different types of accounts, and research options.
SogoTrade is not accredited by the Better Business Bureau (BBB). The company carries Securities Investor Protection Corporation for up to $500,000 in account securities. Additionally, they carry extra SIPC protection for Wang accounts up to $150 million. In fact, SogoTrade takes its customer protection very seriously and additional security measures include information for identifying online fraud, how to protect yourself from identity fraud, and identifying extra security measures that will work for you.
- Trade and investment costs are lower than what many other online investment companies currently offer
- Real-time trading
- SIPC insurance on all accounts and additional SIPC insurance on certain types of accounts
- Automatic options for investment accounts
- Market information available directly on the site
- English and Chinese call centers for customer service as well as live chat options and email customer service options
SogoTrade offers pricing information and comparison charts directly on their site. SogoTrade’s broker commission fee per trade is $3.00, one of the lowest fees currently available; the yearly commission on a once-a-day trade is $720; and beyond that there are no extra commission fees paid per year. Additionally, when you transfer your account to SogoTrade you will receive up to a $100 cash deposit.
SogoTrade Customer Service:
There are two customer service phone lines that you can call in: English and Chinese. Both are toll-free lines. While the English customer service phone times are from Monday through Friday from 7:00 a.m. to 9:00 p.m. eastern time, the Chinese line’s reps are available 24 hours a day.
- SogoTrade has low cost trade options when compared to some of the other companies reviewed.
- There are many educations options which you, as a customer, can take advantage of. These education options include investment basics courses, stocks, margin trading, and options education.
- Customers have the ability to open accounts, move money, trade stocks, and research investments.
- No weekend customer service hours available if you would like to speak with reps or get an answer to their questions on the weekend.
- The website has a lot of information which can be overwhelming to new customers who are not as educated in online stock trading. However, because there is a lot of information available for customers, those who take the time to read through it all can learn a lot.
If you are looking for an online investment firm that can offer you low prices along with a variety of services and an overabundance of information then SogoTrade may be the investment company for you. While it is one of the youngest investment firm companies online today it still offers services that are up to par with older investment firm.
One thing to watch out for with SogoTrade is their customer service hours. If you feel that you may want to talk with customer service reps on weekend days then you will not feel comfortable with the current customer service hours offered by SogoTrade. However, if you feel comfortable with their customer service hours the company offers many other types of benefits that you can take advantage of such as low trading prices, a well designed trading platform, and SIPC security on all of their customer accounts.