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.

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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.

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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.

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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

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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.

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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.

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Never had a problem with Scottrade.

I recommend it to all that will listen.

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

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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.

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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.

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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.

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

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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.

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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.

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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.

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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.

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I switched all of my funds ($40k) from Ameritrade to SoGo after I learned how to trade on Ameritrade. TD has fabulous tools but their commission rate is too high. I've been trading with Sogo for 4 months; every day. I am totally satisfied. Buys and sells are immediate and accurate. Customer service is prompt and polite. The site is easy to negotiate. They are installing a Gainskeeper program soon which is great. $6 roundtrip is cheaper than $20!

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

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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

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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.....

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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.

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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..

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What you pay is what you get.

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The trading platform allows you to put together option spreads, which I did shortly after opening the account. However, it said that my account was not authorized (which was not true -- I was authorized). When I called SogoTrade to determine what was happening, they told me that they"don't offer that service". I said: What are you talking about? it's right there on the trading platform. Her response was: We're new to options trading and you won't be able to execute option spreads for another seven months.

I wonder what else they deceived me with. If you want to trade option spreads, do not use SogoTrade -- they only offer 1-way buying and selling (regardless of what they advertise), even through their trading platform looks like it will support what you want to do.

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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.

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It is cheap. You do get what you pay for, which is terrible services. Buggy and totally unreliable trading platform.

I'll stay with Scottrade. Never had any problem with them.

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Plenty of reaosns you will lose a lot of money.

1. Orders get stuck quite often, then you have to call Sogo, only to pay them $27.00 per trade to execute the order.

2. Margin Managers are not customer friendly, they just play as they wish to, and make you losses that could be minimized elsewhere.

3. Unfriendly Customer Service with little or no trading knowledge.

4. When you put a buy/sell order, your the last one in line, doesn't matter you put limit order or market order, your order doesn't get excuted immediately, you will lose money as a result.

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I've been using SogoTrade for over a year now and they have been great. The tools are somewhat limited but it has all the basics. It is they best broker that I have seen for finding shares to short.

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

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To receive 30 free trades, use referral code 564838 when signing up for SogoTrade. The free trades are valid for 90 days after signing up.

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Beware of Sogotrade. Use other brokers. The customer service is horrible. I had exercised some rights offering. They charged me 35 dollar fee(most brokers did not charge that fee).I tried to know the result of the exercising. I called Team 503 at least 10 times,but I was put on hold, nobody answered my phone. Then I emailed 12 times, got no reply. I got very angry at their service and wrote something a bit impolite, then in one minute, one Guy with Indian accent called me and yelled at me, saying that I am stupid. I am relatively new to the Stock Market, I really feel regretful that I did not picked a much more responsible broker. I would say "Stay away from this horrible broker-Sogotrade".

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

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I have been using SogoTrade for 2 years now and have been very satisfied with their service. The trades are very cheap ($3 per trade), there aren't any hidden fees or tricks to take more money. No maintenance fees or any other fees. The trade ticker is real-time, and trades take place within 1 second, with the option to cancel until about 3 seconds after. I've called their support line about 8 times to ask information, and I always immediately got on the phone with an intelligent representative who knew the answers to my questions.

To receive 25 free trades, use referral code 564838 when signing up for SogoTrade. The free trades are valid for 90 days after signing up. A minimum of $500 needs to be deposited before you can begin trading. You can do free ACH transfers to and from your bank account.

SogoTrade is probably the cheapest online-trader there is, with a service that is on par or better than the three other companies I traded with before.

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I realize that some of these are written from pure anger and there is often little to no truth when a low rating is given. But regardless, heed my warning!

Opened an account and I was new to trading. They made plenty of money off me and the price was fair. That is the reason I gave one star.

Had a transfer not go through and they shut down my ability to fund my account. They then told me after 90 days they would turn it back on but in the mean time I could cut them a check and mail it or transfer by wire. Did not want to do wire transfers for 3 months at a cost of $45 each from BOA. I mailed a check and it was mailed back to me. They would not take the check. I contacted them and they said it was a company check. Not true at all! No company check i know is that small in size with seashells on it and a home address. I then asked them if there were any other options and they will not return my emails or phone calls. It has been three days since. Horrible service and selective rules. INVEST SOMEPLACE ELSE.

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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

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I have been trading with Sogotrade for 2 years already...and find them good and prompt execution of trades.

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I certainly use Sogotrade because it was the cheapest. I can understand the limited customer service and at times delay in updating my margin balance and buying power. But cumulative errors in my account balances , ie correct number shares, margin interest and overall inaccurate bookkeeping is not acceptable.

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