Sogotrade Review

5.) Sogotrade

Tools: C

Commissions: A

Customer Service: B+

Trade speed and reliability: A-

Registration: B-

SogoTrade, a new discount broker, has the potential to be top rank in the future. The trades are cheap and they provide quality customer service. The broker can appeal to buy and hold investors as well as day traders.

The biggest problem with SogoTrade is its lack of features for options traders and its limited tools. If Sogo can improve on its tools, then it should have a bright future in the brokerage business. Opening an account also takes time and is a bit of a hassle. When opening an account you must mail all forms because SogoTrade does not accept faxed versions of documents. You cannot make electronic deposits without proper identification. The process takes about a week.

SogoTrade currently offers 100 free trades for 30 days when you open an account with $500 or more. You can also earn 25 free trades for every person you refer to SogoTrade.

The bran new level two by SogoTrade: A simple layout and a good presentation by Sogo