SogoTrade Review

SogoTrade is a US-based stock brokerage, that was founded in 1986 as Coastal Investments Associates, LTD in Carolina. In 2014, the name was changed to SogoTrade, Inc. Their aim is to maximize return whilst lowering the risk and cost involved. They not only target US clients with their advanced trading platforms but also support Chinese speaking clients.


Nationalities USA allowed
Account Funding $0
Is a corporate Account Possible?               YES
Sign Up process FAST
Funding options Wire Deposit, Electronic Transfer (ACH), Check Deposit
Max leverage 
Forex: Spot Trading NO
Currency Pairs
Cryptocurrency YES through Apex Crypto
Stocks YES
Penny Stocks YES

Regulation and Trust

SogoTrade is a member of the Securities Investor Protection Corporation (SIPC). Clients are therefore protected by up to $500,000 (including $250,000 for cash claims). SogoTrade has also purchased additional insurance through their clearing firm Apex. SogoTrade is regulated by the Financial Industry Regulatory Authority (FINRA).

Commissions & Fees

SogoTrade is very clear and open about their pricing. Their base rate for orders is $4.88 plus $0.50 per contract. If you are an active trader and trade more than 150 trades per quarter this commission rate reduces to $2.88. They also offer a prepaid commission package in 20 or 50 prepaid trades that are valid for a year. The commission rate on the package deal reduces to $3.88 per trade. SogoTrade offers free ACH electronic deposits and withdrawals and does not charge for account closing. A $25 fee is charged for a broker assisted trade and $25 for a mutual fund trade.


SogoTrade is present on Facebook, Twitter, YouTube and Skype. They have a smaller social media following compared to other brokers, with 2000 followers on Facebook, 740 followers on Twitter and 176 subscribers on YouTuber.

User Experience

SogoTrade does a great job of offering a range of platforms for different traders to choose from based on their requirements. Whilst their trading platform range is large, they only offer traders the ability to execute trades without all the bells and whistles. Their SogoTrade platform is user friendly but only has basic tools and charts to make use of. One feature missing from their platform is price alerts, which usually makes trading more efficient. SogoApp is also user friendly, has helpful instructions for users and you can set price alerts. Their desktop platform, SogoElite, is not the most user friendly platform and is only available for Windows. Whilst the desktop platform is more customizable than the other platforms that are offered, it has poor search functions and you can’t set price alerts. SogoOptions seems to be the best platform in terms of usability and fast execution.

On the plus side, opening an account with SogoTrade is fully digital and should only take a few days to be verified. There is also no minimum deposit required on the standard account making it a suitable option for smaller account holders.

Trading Platforms

SogoTrade offers a variety of trading platforms to choose from: 

  • SogoOnline is their all-in-one web platform for trading stocks, ETFs and options. 
  • SogoTrader is a fully customizable platform with advanced tools and charts. 
  • SogoOption provides online options trading specifically built for option traders. 
  • SogoElite is a downloadable desktop platform with real-time streaming market information. 
  • SogoMobile is a browser-based mobile trading platform for smartphones and tablets. 
  • SogoApp is their mobile application trading platform that is available for download for iOS and Android devices from their respective app stores. The iOS version received a 3.2-star rating on the Apple iStore.

Functionality and tools

Each trading platform has its own advantages and disadvantages. While SogoTrader is user friendly, it only offers basic charting tools. In order to access customizable charts and use detailed technical analysis, SogoElite has to be used. Their mobile application, SogoApp, allows for stock and option trading. It also features charts, quotes, watch lists and a real-time news feed. 

SogoTrade also now offers a daily newsletter with quality trade ideas for traders. The newsletter, Morning Call, features 8 Stocks and ETFs to consider before the market opens. Traders also have access to ValuEngine, a stock valuation and forecasting service with around 5300 US Stock Rating and Forecast Reports. Lastly, traders can also make use of their research platform, SogoPlay. This platform provides option trading ideas and suggestions.

Whilst a demo account is not available, each platform offers a video tutorial to explain how each platform works.

Customer Service

SogoTrade offers a nationwide phone line and general information line that can be contacted from 7am to 8pm ET Monday through Friday. They also offer a nationwide Chinese phone line that can be contacted from Monday through Friday 7am to 8pm. SogoTrade also offer customer service through email, fax or mail. We missed having the option to use a live chat function, however they do have a FAQ page available.


SogoTrade is a great option for traders looking for a regulated broker that offers a wide variety of user-friendly platforms and research tools. Whilst their commission fees are competitive, many discount brokers are now offering 0% commission fees.

SogoTrade is a great option for traders looking for a regulated broker that offers a wide variety of user-friendly platforms and research tools. Whilst their commission fees are competitive, many discount brokers are now offering 0% commission fees.