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SOGOTRADE

Severe riskStockbroker
🇺🇸 United States · 5-10 years · since 2019-04-10 · SogoTrade, Inc
This is a stockbroker, not a leveraged forex/CFD broker — listed for reference. If you’re looking for a forex broker, see our forex broker directory.
Unregulated
Visit site ↗
—/5
★★★★★ ★★★★★
5 reviews ›
0
Licenses ›
5
Withdrawal issues ›
—
Min. deposit ›
—
Max leverage ›
0
Account types ›
75/100
Scam risk ›
0
Clone sites ›
▲ 20% positive▼ 60% negative
Independent ratingshow third parties score this broker
WikiFX1.7/10
Trustpilot—/5
Forex Peace Army—/5
🛡️ Been scammed or can’t withdraw from SOGOTRADE? Our free assistant writes up your case and shows exactly what to do next →
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SOGOTRADE operates in your country (United States) — but holds no local license. You’d likely be onboarded under an offshore entity, which means weaker fund protection. Confirm which entity before depositing.
75
Severe risk
Scam Risk Scoremonitored · 2026-07-28
Lower riskHigher risk
  • No verified regulatory license on file
  • 4 user exposure/complaint reports filed
  • Withdrawal complaints in ~100% of recent reviews
How this score is calculated — view the open algorithm

A transparent weighted score from objective public data — each factor scored 0–100 (higher = riskier), combined by the weights below.

FactorScoreWeight
Regulation & licensing8535%
Company age2215%
Clone / impersonation012%
Withdrawal & exposure complaints7812%
Offshore registration108%
Transparency (site/info/social)010%

Based on public regulatory records, industry databases and independent reviews (Trustpilot, Forex Peace Army). Exit Risk reflects recent negative momentum in real reviews. A risk estimate from public data, not a definitive legal judgment; brokers may request a correction.

Company
Legal nameSogoTrade, Inc
Headquarters🇺🇸 United States
Founded2019-04-10
Years operating5-10 years
Employees0
Official websitesogotrade.com
Trading conditions
Avg execution speed0 ms
Avg slippage0
Swap rating—
Trading cost rating—
Monitored traders0
Monitored orders0
Funding & instruments
Deposit methods—
Withdrawal methods—
Instruments—
Registered address
1 McBride and Son Center Dr. Suite 288 Chesterfield, MO 63005 SogoTrade Building

Regulation & licenses · 0

No valid regulatory license found — high caution advised.

Review analysis AI

SogoTrade is a US-regulated stockbroker offering commission-free trading in stocks, ETFs, options, and cryptocurrency. While our internal records flagged the firm as unregulated, official documents confirm SEC/FINRA/SIPC registration, suggesting an error in our data. The broker does not provide forex or CFD products, making it unsuitable for retail forex traders. Overall, SogoTrade appears a legitimate choice for US equities traders, but the discrepancy in regulatory data warrants caution for new clients.

Best for
  • US stock and ETF traders seeking commission-free limit orders
  • Active options traders looking for low contract fees
  • Investors interested in cryptocurrency within a traditional brokerage
  • High-volume traders who can benefit from rebate programs
Not for
  • Forex or CFD traders seeking leveraged currency pairs
  • Non-US residents or international clients (likely restricted)
  • Traders requiring demo accounts or Islamic accounts
  • Beginners who prefer extensive educational resources
Period:
What users complain about
What users praise
Where reviewers are from
Taiwan3
Cyprus1
Malaysia1

Real user reviews

Where SOGOTRADE operates

Active across 15 markets (by market presence). Licensing rarely covers all of them — where it isn’t locally licensed, you’re onboarded under an offshore entity with weaker protection.

🇺🇸 United States
🇳🇿 New Zealand
🇷🇴 Romania
🇦🇺 Australia
🇧🇪 Belgium
🇹🇼 Taiwan 4 complaints
🇲🇽 Mexico
🇨🇴 Colombia
🇧🇷 Brazil
🇸🇬 Singapore
🇵🇪 Peru
🇯🇵 Japan
🇵🇰 Pakistan
🇩🇲 Dominica
🇨🇦 Canada

Market presence: WikiFX SkyEye · complaints: our records · licensing: official registers. Where you’re accepted is set by the broker’s own terms — always confirm before depositing.

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What SOGOTRADE says about itself as stated by the broker · not independently verified by FXCanary

About SogoTrade

SogoTrade, Inc. states on its website that it has served investors since 1986. The broker claims to offer 'the fastest executions, the friendliest customer service, and the most advanced trading technology.' It provides a wide range of investment products, including stocks, ETFs, options, and cryptocurrency, as well as margin trading and PowerYield Portfolios. SogoTrade emphasizes value and personal service, and offers both online and mobile trading platforms.

Account Types

According to its website, SogoTrade offers several account types: Individual Account (cash or margin, with or without options), Joint Account, Retirement Account (Roth IRA, Traditional IRA, Rollover IRA), and Business and Trust Account. Each account can be configured with different security types, including cash stock, margin stock, cash options, and margin options. The broker also provides a cryptocurrency account option.

Pricing, Commissions & Fees

SogoTrade advertises $0 commissions on qualifying limit orders for stocks and ETFs, and even offers a credit of $1.00 per 1,000 shares traded on such orders (its 'Get Paid to Trade' program). Market orders are charged $2.88 per trade. Options trading carries $0 commission per contract, plus a $0.50 contract fee.

Broker-assisted trades cost $25. OTC and penny stock trades have specific commission structures detailed on the site. Margin rates are based on the broker’s schedule.

Trading Platforms & Tools

The broker promotes its 'NextGen' online trading platforms, including a mobile app (SogoTrade Pro) available on the App Store. Features include real-time streaming watch lists, Level I and II quotes, options chains, price alerts, and customizable layouts. The platform syncs across devices and includes mobile account opening, funding, and live charts. SogoTrade claims its proprietary trading center allows rapid order entry with one-click functionality.

Customer Support & Security

SogoTrade states it is a member of SIPC, providing insurance coverage for securities up to $500,000 (including $250,000 for cash). The broker also claims to be registered with the SEC and FINRA, and encourages clients to review its background on FINRA's BrokerCheck. Customer support is available via a nationwide call center (US: 1-888-709-7646, outside US: 1-646-885-6594) Monday to Friday, 8am to 6pm EST.

About SOGOTRADE

Company Profile

SogoTrade, Inc. is an online brokerage firm based in the United States, with its registered address at 1 McBride and Son Center Dr. Suite 288, Chesterfield, MO 63005. The company was originally founded in 1986, according to its official website, and has since focused on providing low-cost trading services to self-directed investors. SogoTrade operates primarily as a broker-dealer in equities, ETFs, options, and cryptocurrency, and is a member of FINRA and SIPC, with registration with the SEC.

Regulation and Safety

SogoTrade is regulated by the Securities and Exchange Commission (SEC) as a broker-dealer and is a member of the Financial Industry Regulatory Authority (FINRA). Additionally, it is a member of the Securities Investor Protection Corporation (SIPC), which offers protection for securities and cash in the event of broker insolvency. While our internal records previously indicated no regulators on file, official documents from the broker confirm the above registrations. Traders are advised to verify the broker’s status via FINRA’s BrokerCheck.

Account Types

SogoTrade offers a variety of brokerage accounts to suit different investor needs. Individual accounts can be opened as cash or margin accounts, with or without options trading capabilities. Joint accounts are available for multiple owners, and retirement accounts include Traditional, Roth, and Rollover IRAs. Business and trust accounts are also offered. There is no mention of demo or Islamic accounts on the website, which may be a limitation for some traders.

Products and Instruments

The broker provides access to a range of securities: stocks, ETFs, options, and cryptocurrency trading. Margin trading is available for approved accounts. SogoTrade also offers PowerYield Portfolios, which are likely managed or goal-based portfolios. The platform does not appear to offer forex trading, CFDs, futures, or bonds directly, though limited fixed income products may be available through broker-assisted orders.

Platforms and Trading Experience

SogoTrade’s trading platforms include a web trader and a mobile app (SogoTrade Pro) for iOS devices. The platforms feature real-time streaming quotes, Level I and II market data, customizable watchlists, options chains, and price alerts. The broker emphasizes fast execution and user-friendly design. The mobile app syncs with the web platform, allowing seamless tracking of positions and orders.

Deposits and Withdrawals

Specific funding methods are not detailed on the website, but typical US brokerages support bank wire, ACH, and check deposits. Withdrawals are likely processed via ACH or wire. SogoTrade’s customer service can provide further guidance on account funding. The minimum deposit is not explicitly stated, but individual accounts can be opened with no minimum listed.

Target Audience

SogoTrade is aimed at self-directed, active traders in the United States who seek low-cost trading and are comfortable with an online-only service model. The 'Get Paid to Trade' program rewards large-limit-order traders, making it appealing to high-volume traders. The absence of forex/CFD products means it is not suitable for retail FX traders. Non-US residents may face restrictions, as the broker primarily serves domestic clients.

Overview compiled by FXCanary from regulatory records and public data. full SOGOTRADE review