Great value broker. Lengthy sign up procedure, but I suppose that's pretty standard. A bit lacking in technical analysis features, but who uses their broker for that anyway. Fast order execution. Customer support is top notch. If I were to start over, I'd do Sogo or Interactive Brokers.

Was this helpful? Yes / No

Report a Concern

Good -
-Dirt cheap trades
-Good customer service
-Solid help system for absolute beginners

Bad -
-I have needed to use customer service more than a couple of times.
- No extended hours trading. If your position is going south, you can only sit there and watch your wallet getting smaller.
- Slow execution. If you want to always be at the back of the line, and only have your limit orders execute only when the price shifts against your position, Sogo is for you.
- The online help is basically useless for any but an absolute beginner. Issues that should be at least covered with a message such as "we do not offer this..." are not covered.
- The research tools are worthless for active traders.
- Quotes are not always accurate, and can take a long time to update. For light volume stocks, the quote does not update until the bid or ask changes, even if a trade has happened.
- The news is not complete, but this can be overcome with Google Finance.
- The trade interface is clunky, and takes too long to navigate.

Overall -
I would like Sogo much more if I were a buy and pray investor. The cheap trades would overpower the faults of the service. Since I am an active trader, the slow execution and lack of extended hours trading has cost me much more than what I save by using Sogo.

Was this helpful? Yes / No

Report a Concern

The prices cannot be beat. The problems I have though include the setting up of the account, which is a lengthy process. Also, they herald the speed of their transactions, but I had cases where I put in orders before open and it took 7 minutes to complete, which lead me to loose money. Which brings me to my next point: no pre-market or post-market trading. Overall though, a great brokerage for those just starting out.

Was this helpful? Yes / No

Report a Concern

I've had an active account at Sogotrade for several months. At first it was OK, but they have developed some serious current problems as of May 6, 2009. Their customer service has taken a nosedive. They no longer respond in the Secure Message Center nor to emails. Some of their telephone help people aren't trained properly and are not empowered to solve real problems. Their trading platform is buggy when canceling orders, and as a result you may be overcharged commissions for broker-assisted trades. I have lost confidence in them, and recommend that you stay away. I'm getting out ASAP, hopefully not too late.

Was this helpful? Yes / No

Report a Concern

I have Sogotrade for 4 months now and I recently encounter a problem. I transfer $1000.00 in and it just vanished ???? call them they cannot explained ?????


stay away from them

Was this helpful? Yes / No

Report a Concern

Never had a problem with Scottrade.

I recommend it to all that will listen.

Was this helpful? Yes / No

Report a Concern

Lengthy process (8 Business days to finally start trading after opening an account).
The free trades clock starts from the day account application is submitted - so it just might be to eat up the"free trade days". Annoying!!
Web trading platform is slow and limited (I was not expecting anything more for $3 trades).
If you are not the patient kind - you will find Sogotrade very annoying.

Was this helpful? Yes / No

Report a Concern

Pathetic phone service. Arrogant Representatives. Just because they charge less brokerage they think they can do all mistakes. Surprisingly, guys who work for this firm do not even have complete knowledge of trading.

Was this helpful? Yes / No

Report a Concern

I opened my account for weeks now. I sent all the required forms necessary to authorize orders. However, I am not able to execute a buy order. It says I don't have permission to trade. I got no emails response. I was put on hold on the phone for a long time without anyone answering me.

Was this helpful? Yes / No

Report a Concern

At $3 a trade, you can't find a better price anywhere else. It does take a few days to add your bank account and transfer funds. Customer service is quick and polite. Order execution is fast. Don't know about after hours trading. I don't do that so it doesn't matter to me although there's room for improvement with the research tools.

Was this helpful? Yes / No

Report a Concern

- Send email? no reply.
- Call them? can not reach in 5 minutes.
- Online Chat? Dead.

Was this helpful? Yes / No

Report a Concern

They give you 100 free trades for signing up and if you try to use them, that's about 3+ trades a day, they will deem you a day trader and lock your account. After that their customer support is terrible, they do not get back to you or care.

Was this helpful? Yes / No

Report a Concern

JUST OPENED MY ACCOUNT. FIND EMAILS AND THEIR SECURE EMAIL SITE DO NOT GET ME ANY RESPONSES TO QUESTIONS

Was this helpful? Yes / No

Report a Concern

The account manager was rude, and no patience to listen.

Was this helpful? Yes / No

Report a Concern

Trades are made quickly and it lends itself to easy searches/research. Nice discounted fees and cheap option trades. Always use limit orders, not market orders to lock the trade in at the price you want...otherwise you can get pants'd. If you found the review helpful, put in referral code: 381095

Was this helpful? Yes / No

Report a Concern

I opened an account with SogoTrade because of their low commission per trade and the '100 free trades' for the first 30 days offer.

Well, two weeks later they decide to suddenly change their commissions policy (without advance notice), and now refuse to honor the 100 Free Trades offer.

Don't be fooled by SogoTrade like I was. Stay away from Sogo Trade!

Bait-and-switch at its finest.

Was this helpful? Yes / No

Report a Concern

I have account with SOGOTRADE, initially it was good because of low price. Later I found many issues with customer service. They don’t have knowledge in margin balance rules and when I spoke to manager he is very arrogant. They are asking to maintain minimum balance of 30,000 otherwise I can’t trade. When I ask margin manager he said they have rights to restrict an account as they wish. Also said if we don’t like it I can go else where. I am coming out of it ASAP .

I don’t recommend this SOGOTRADE at all.

Was this helpful? Yes / No

Report a Concern

Opening an account and placing actual trades do take about 8 business days. i have account for about 3 so weeks now, with the free 100 trades, which if you are new to trading like me, is very vital to your survival, especially if you have a 2000 minimum account like me..Customer service is pretty good from my experience but do realize that this is my first broker so i might have a bias. i called about 5 times and all my questions were answered pretty quick(i was put on hold only 1 time)at market closing. Order execution is fast, but you should i only have 4000 to play around with so the amount of shares would be small and probably increase execution time.So far the lack of this company is the charting. you have to refresh the charts your self most of the time and other optional charts are not available real time.Don't be mistaken though, they do have real time quotes and real time charts but only basic. they Company rises in rank because they are what they say they are, a discount broker, personally to me they a beginner friendly.

Was this helpful? Yes / No

Report a Concern

Account Opening procedure is horrible and Customer support is really pain. You will be spending the time by keep calling then but no action will be taken. CustomerSupport folks are not willing to help the customer rather they will avoid you by saying new rules.. Send this document , that document etc.......


I haven't done the trading with sogo. this is only a beginning.. :)


I never a see any financial institution which requires this amount of documents.....

Was this helpful? Yes / No

Report a Concern

I have account with SOGOTRADE, initially it was good because of low price. Later I found many issues with customer service. They don’t have knowledge in margin balance rules and when I spoke to manager he is very arrogant. They are asking to maintain minimum balance of 30,000 otherwise I can’t trade. When I ask margin manager he said they have rights to restrict an account as they wish. Also said if we don’t like it I can go else where. I am coming out of it ASAP .

I don’t recommend this SOGOTRADE at all.

Was this helpful? Yes / No

Report a Concern

Horrible interface.
You can't see the gains or loss. You have to wait for monthly statement !!!
Also you can only see the avg cost of the stocks but not individual prices so very difficult to make sure everything is correct while filling taxes.

And the cherry on top is that for 3 trading days now, their system doesn't shows my option positions correctly or sometime doesn't even shows them ..

stay away..

Was this helpful? Yes / No

Report a Concern

Sogotrade's customer service is one of the worst, no reply to emails. Too many restrictions on account, I also trade on Etrade and I can see difference, they will restrict your account for long time without telling any reason why. If you speak with them you'll know how rude they are, even in their language. This broker should be shut down immediately. Do not put your money here, they look suspicious to me. I will transfer all my money to other broker soon.

Was this helpful? Yes / No

Report a Concern