SogoTrade Broker review

sogotradeNice and easy with Sogotrade.

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SogoInvest has been around since 2006, and SogoInvest online stock trading may be one of the big boys in the finance industry but they maintain the personal touch. The trading platform itself has everything an investor could ask for but is always warm and cuddly to the eye. What makes Sogotrade online stock trading so popular? It is very welcoming with 100 free trades when a new investor signs on. It is very responsive to the touch with ‘real-time’ transactions. It is also open to the whole of the stock market with ‘fractional’ shares on offer for the smallest investor.

Fees and commissions are not too scary either since SogoInvest is one of the few online brokerages that do not charge a monthly subscription fee.

They have three different account levels from the small investor to the large portfolio and have an introductory discount of the first 90 days at $1 trades. Few savvy investors or traders could resist this offer with SogoInvest. The whole ethos of the brokerage is in giving traders simple straightforward service combined with low costs. They aim to help investors, from the beginner to the experienced, build diverse long-term profitable portfolios.

The account opening process with SogoInvest is refreshingly easy too. Support for the real novice is available in the right-hand screen box. There newcomers can find the selection to ‘Learn More’ and get help with the application process if they need it. If ease of use is important to you as a customer then the SogoInvest stock trading application is the easiest and quickest by a long way. It takes less than 10 minutes with totally self-explanatory steps and there you are; trading stocks with all the personalized features you could want.

SogoInvest stock trading fees are a very low at $3 each and you only need $500 to begin your account. Unlike many other online brokerages Sogotrade will not charge you for not using your account. In other words no inactivity fees which in this authors’ view should be the norm but isn’t and therefore worthy of special mention. SogoInvest will also reward you for doing their marketing for them since they offer 25 free trades for every customer referral.

Apart from the low-cost trades already mentioned SogoTrade offer fractional shares to give access to even the highest valued stocks for the small investor. There is no slippage between quoted and transaction prices and all transactions take place instantly. For the more passive investor SogoInvest also do automatic reinvestment of dividends and profits so that the investors cash is never left idle. They also offer SIPC insurance on all accounts.

The SogoInvest stock trading process itself is equally easy. As the investor you are given the choice as to whether you see symbols or quotes and real-time orders up front. Managing your positions and accounts with full control and information is also a breeze. If you require support or clarification at any time, there are video demonstrations and ‘Help’ texts just a click away. By definition, simplicity has to mean a lack of some more complex functions. Trading with SogoTrade is perfectly satisfactory and buying and selling securities from the main trading platform screen works well enough. However, closing out your open positions from the portfolio screen could be smoother and while cancelling open orders works fine there is no way to modify open orders.

Furthermore there isn’t a specific order confirmation screen. There is the ‘quick trading’ option that bypasses the single confirmation screen. This is a good feature for high volume day traders. Email notifications are sent automatically when new orders are entered. More sophisticated traders may miss some of the more sophisticated trading facilities with SogoTrade.

The SogoTrade online stock trading customer support is very efficient and user friendly. They have the usual FAQs database, feature tours, an online glossary, email support and a secure message center for account holders. Support can also be had via a toll-free phone number. In Summary SogoTrade are easy, effective and transparent and an enjoyable refreshing change from the usual finance industry offerings.