SogoTrade is out in the market with all guns blazing to drive home the point that you can save money on every trade. SogoTrade is charging $3, $4 and $5 per trade for stocks and ETFs. The charges for the same, as applicable with other brokerage firms or trading platforms, range anywhere from $7 to $10!
In comparison with other brokerage firms such as Scottrade, Fidelity, Charles Schwab, TD Ameritrade and E*Trade, you save anywhere from $1000 up to $4000 in a year with SogoTrade. Is that a good enough reason to switch?
The Comprehensive SogoTrade Platform
While the focus is far too much on the price you pay or commission per trade, the other attributes also demand some attention. For instance, you get a hundred free trades valid for a month when you switch your account to SogoTrade. You also get $100 transfer refund. These may be perks to woo new clients but they are worthwhile incentives nonetheless.
SogoTrader is one of the finest trading platforms available right now. Fittingly, SogoTrade calls it a trading cockpit. From one-click trading to customizable page navigation, interactive stock charts to extended hours trading, everything that you would need or want is made available to you by SogoTrade.
The support, both technical and nontechnical, the ease of use of the entire system and the various software and tools, the speed at which trades are executed and the information that you get, right from the best performing stocks at a given moment to accurate trends over different periods of time; there are many helpful facets of SogoTrade that make it worthwhile to deal with the firm.
The Shortcomings
SogoTrade doesn’t facilitate foreign trades or foreign exchange account. It does allow foreign investments into domestic stocks but not otherwise. This may be a limitation for many who would want to explore more than what the domestic markets have to offer, even though there’s plenty to choose from.
There are some brokerage firms that are mulling the idea of charging zero dollar commissions and some companies have already launched such a program. If the $3 to $5 fee structure is the only reason for anyone considering a switch to SogoTrade, then they may want to check out an even better saving option by paying no commissions per trade. However, such programs are in their nascent phases and have not yet been put to the test of time.
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