SogoTrade Review - A broker To Contend With

SogoTrade can be considered the new kid in the block of the investment community. You have probably heard of this online stock trading website from way back in 2006 and yet only started to notice its good presence. In this SogoTrade review, we shall discuss the reasons for its rising star as well as the areas that require improvement in its services.

First off, what is SogoTrade? It is an online discount brokerage firm with headquarters in New York City and with brokerage services spanning both stocks and exchange-traded funds. Clients have two trading platforms to choose from, namely, SogoTrade and SogoTrade Options with emphasis on trading being done entirely through its online site.

And speaking of SogoTrade's online site, we discovered that it was easy on the eyes and easy to navigate - the first positive observation in this SogoTrade review. The tabs on the landing page were easy to understand like "Funds", "Trade" and "Account" while the layout made life easier for busy investors. The only demerit we experienced was the double-clicking of the links and the pulldown menu before these can be loaded into the page.

You will also find the sign-up process to be fast, easy and convenient. Just input the required personal information, personalize your account by choosing its features and then you have a brokerage account with SogoTrade in just 10 minutes or less.

The abovementioned features includes viewing symbols, real-time orders and quotes. Your accounts can also be managed with little of the hassles experienced with other self-directed brokerage accounts.

Of course, this SogoTrade review must include a few words on the trading fees and other charges imposed by the firm on its clients. We can confidently say that the trading fee is one of the lowest in the industry at just $3 per trade while there are no other service fees and inactivity charges on your account. However, you must deposit at least $500 to open an account and maintain a minimum balance in the same amount. All accounts, by the way, are insured by the Securities Investor Protection Corporation (SIPC).

Other benefits to opening an account with SogoTrade include 25 free trades when you refer a friend to the site; real-time trades; and automatic investment options. Did you know, too, that you can actually purchase fractional shares that other brokerage firms do not allow? Yes, this is another positive point in this SogoTrade review.

The online customer support service is also very efficient, responsive and friendly toward the company's clients. You have the benefit of an FAQ database, an online glossary of terms, and feature tours to acquaint you with the site and its process. Your concerns, issues and questions can be coursed through a secure message center, toll-free phone number and e-mail, all in a polite manner by the customer service representatives.

In conclusion, we can say that this SogoTrade review is a favorable one. Your patronage of SogoTrade as your brokerage firm will lead to numerous benefits that, in turn, will be a big help in your wealth-building activities.