BrokAIr Reviews

SogoTrade Review

"Despite its low trading fees, SogoTrade has been accused of providing poor customer service and a lack of transparency. Is SogoTrade really worth your time and money?"

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Overview of SogoTrade

SogoTrade is an online brokerage founded in 2006 with the goal of providing investors with a low-cost online trading platform. The company has offices in New York, Hong Kong and China, and is regulated by the Financial Industry Regulatory Authority (FINRA) in the United States.

Pros

SogoTrade offers a range of advantages for investors:

Cons

SogoTrade also has some drawbacks for investors to consider:

Founders

SogoTrade was founded by three entrepreneurs, who wanted to make investing easier and more affordable. The founders are Tony Zhang, Chenggang Yan, and Peter Huang. They had previously worked together at a financial software company before founding SogoTrade.

Public Opinion

Overall public opinion on SogoTrade has been largely positive. Customers have particularly praised the company for its low commission fees, extensive research tools, and access to international markets. The company has also been praised for its easy-to-use platform and excellent customer service. However, some customers have noted that the lack of banking services can be a drawback for some investors.

Newsworthy Events

In April 2019, SogoTrade announced a partnership with Nasdaq to expand its offering of tradable securities to include Nasdaq-listed securities. In June 2020, SogoTrade launched its mobile app for iOS devices which allows users to access their accounts on the go. In August 2020, SogoTrade announced that it had received approval from FINRA to offer margin trading services to its customers.