Not recommended for mutual fund investors and IRA account holders, recommended for all others
Company Background:
SogoTrade's roots can be traced back to 1999 when William Yeh founded Genesis Securities in Flushing, NY. Genesis began development of SogoInvest in 2005 and went live in July of 2006. The platform was renamed SogoTrade in 2008.
SogoTrade is a division of privately held Genesis Securities. The company is headquartered in New York, NY and its CEO is William Yeh.
Review Summary:
SogoTrade offers a standard web based trading platform and a desktop application named SogoElite.
SogoTrade has some very good qualities. The registration process is quick and easy. The stock trading engine, while not perfect, is one of the better offerings out there. The newly added options trading engine is average for now but has real promise as SogoTrade continues to add new features. Commissions and fees are among the lowest of any broker. At the same time, the charts and research tools are underwhelming. SogoTrade does not accept mutual fund trades or retirement accounts such as IRAs so those looking for these features need to look elsewhere. Drawbacks aside, those looking for a no frills discount broker deserve to give SogoTrade a look.
Detailed Reviews by Category:
Registration Grade: B
Stock Trading Grade: B
Options Trading Grade: C
Charts Grade: C
Research Tools Grade: C
Commissions and Fees (Pass/Fail): Pass
Margin Rates
Dividend Reinvestment Plans (DRIPs)
Tax Reporting
Mint.com Compatibility
See our broker overall recommendation list to compare SogoTrade with other brokers