SogoTrade Forex Broker

SogoTrade Review SummaryFounded1986Registered Country/RegionUnited StatesRegulationNo regulationMarket InstrumentsStocks, ETFs, Options, CryptocurrenciesDemo Account❌Trading PlatformSogoTrade Pro App, SogoTrade Pro Web, SogoTrade Web Platform, SogoOnlineMinimum Deposit$0 (but $100 minimum required for stocks priced under $1)Customer SupportLive chatPhone: 1-888-709-7646Email: services@sogotrade.comSogoTrade Information SogoTrade, an online brokerage company in the United States, was founded in 1986. It provides low-cost access to stocks, ETFs, options, cryptocurrencies, and margin trading. While its fees are appealing, particularly for busy traders, the company lacks regulatory control and does not provide demo or Islamic accounts, which may cause anxiety for certain investors.Pros and ConsProsConsVery low fees on stocks, options, and margin interestNo regulationMultiple account types including IRA and custodialNo demo accountsModern platforms for mobile and web tradingLimited information on feesIs SogoTrade Legit? SogoTrade is not now governed by any acknowledged financial authority, no. Though registered in the United States, it lacks a legitimate license from the U.S. Securities and Exchange Commission (SEC). WHOIS records show the name sogotrade.com was registered on September 7, 2005, last modified in 2015, and will expire on September 7, 2025. The domain is live with a “client transfer prohibited” status, meaning it is restricted from being transferred without the owner's consent.What Can I Trade on SogoTrade? SogoTrade provides a diverse range of trading and investment products, including stocks, ETFs, options, cryptocurrencies, margin trading, and automated portfolios for both active and long-term investors.Trading InstrumentsSupportedStocks✔ETFs✔Options✔Cryptocurrencies✔Forex❌Commodities❌Indices❌Bonds❌Account Type SogoTrade provides a broad spectrum of live account kinds including individual, joint, company, IRA, and custodial accounts. It does not, however, offer Islamic (swap-free) accounts or demo accounts.Account TypeFeatureSuitable forIndividual AccountA personal investment account for one individualGeneral retail investorsJoint AccountShared account between two individualsSpouses, partners, or co-investorsBusiness AccountFor corporations or LLCsCompanies managing investment portfoliosIRA AccountRetirement accounts: Traditional, Roth, or SEP IRAU.S. residents planning for retirementCoverdell Education Savings AccountTax-advantaged account for education expensesParents saving for a child's educationUTMA/UGMA AccountCustodial account for minorsAdults managing assets for childrenTrust AccountAccount managed under a legal trust agreementEstate planning or fiduciary purposes SogoTrade Fees SogoTrade's fees are typically lower than the industry average, particularly for stock and options trading and margin interest rates. It also has no minimum deposit requirement, making it suitable for new investors.Trading PlatformTrading PlatformSupportedAvailable DevicesSuitable forSogoTrade Pro App✔iOS, Android (Mobile App)Active traders seeking mobile trading with Level I/II data, alerts, and custom viewsSogoTrade Pro Web✔Web Browser (Desktop/Web)Active/self-directed traders needing customizable dashboards and advanced toolsSogoTrade Web Platform✔Web Browser (Desktop/Web)General retail investors trading stocks, ETFs, and optionsSogoOnline✔Web BrowserSimpler web interface for basic trading needs