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SogoTrade -

Score

1.67 /10
Danger

SogoTrade

United States

5-10 years

Suspicious Regulatory License

Self-developed

High potential risk

https://sogotrade.com

Influence

B

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Comparison

Quantity 4

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index7.37

Risk Management Index0.00

Software Index4.74

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

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Company Name

SogoTrade, Inc

Company Abbreviation

SogoTrade

Platform registered country and region

United States

Company website

X

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Company summary

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 2
Previous Detection : 2025-07-27
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 4 for this broker in the past 3 months. Please be aware of the risk!

WikiFX Verification

Exposure

4 pieces of exposure in total
Pyramid scheme complaint
Expose
Unable to Withdraw

The money was transferred on the day as the re-deposit.

The fraud group is rampant and transfers investors’ money on the same day of deposit. It is basically a fake platform.

XI7752
2024-01-08 23:01
Unable to Withdraw

Participate in the event and cannot withdraw, the account is frozen and cannot withdraw money

Suspected fake customer service provided activities to induce participation in the activities, causing the account to be frozen and unable to withdraw funds.

yiting
2023-12-31 11:27
Others

Defraud by the name of teaching you how to trade.

At first, a stranger told me to help me trade virtual currencies. I could withdraw money at the beginning, but I didn’t play for a while because of my busy work. Later, it was shown that the bonus was 168888, and a 22% deposit was required. Since I didn’t have that much cash on hand, the man said he could help me pay part of it, and the money would be transferred to the address he provided, and then...I was scammed.

XI7752
2024-01-07 19:13
Unable to Withdraw

I'm just starting to learn how to trade virtual currencies and I'm a beginner. I used this platform, and at first it was normal with 2 transactions.

One day there was suddenly an extra amount of money in my account. I emailed to ask about it, I found out that I had won a prize! Then I asked what I needed to do to win the prize, and the other party replied that I needed to pay the 28% tax to the United Nations management unit. After weighing my ability to pay the 28% tax, I wrote back and told them that I wanted to give up my prize, but they told me that I could not cancel or give up my prize and that I could only pay the tax, and then I could use all of my money. During this period, all my own funds were frozen. I wrote to them again and again to tell them that this was unreasonable, but they always told me to pay the tax before I could use the money. Later a friend just happened to have usdt in hand, he helped me to pay 28,000 dollars or so in tax, but it is not enough, so now my funds are still frozen.

XIAOXIN5557
2023-09-27 10:20
Data Source WikiFX Data provide
Updated: 2025-07-27
SogoTrade · Company summary
SogoTrade Review Summary
Founded1986
Registered Country/RegionUnited States
RegulationNo regulation
Market InstrumentsStocks, ETFs, Options, Cryptocurrencies
Demo Account❌
Trading PlatformSogoTrade Pro App, SogoTrade Pro Web, SogoTrade Web Platform, SogoOnline
Minimum Deposit$0 (but $100 minimum required for stocks priced under $1)
Customer SupportLive chat
Phone: 1-888-709-7646
Email: services@sogotrade.com

SogoTrade 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.

SogoTrade's homepage

Pros and Cons

ProsCons
Very low fees on stocks, options, and margin interestNo regulation
Multiple account types including IRA and custodialNo demo accounts
Modern platforms for mobile and web tradingLimited information on fees

Is 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).

No license

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.

Domain information

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 InstrumentsSupported
Stocks✔
ETFs✔
Options✔
Cryptocurrencies✔
Forex❌
Commodities❌
Indices❌
Bonds❌
What Can I Trade on SogoTrade?

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 for
Individual AccountA personal investment account for one individualGeneral retail investors
Joint AccountShared account between two individualsSpouses, partners, or co-investors
Business AccountFor corporations or LLCsCompanies managing investment portfolios
IRA AccountRetirement accounts: Traditional, Roth, or SEP IRAU.S. residents planning for retirement
Coverdell Education Savings AccountTax-advantaged account for education expensesParents saving for a child's education
UTMA/UGMA AccountCustodial account for minorsAdults managing assets for children
Trust AccountAccount managed under a legal trust agreementEstate planning or fiduciary purposes

Account Type

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.

SogoTrade Fees

Trading Platform

Trading PlatformSupportedAvailable DevicesSuitable for
SogoTrade Pro App✔iOS, Android (Mobile App)Active traders seeking mobile trading with Level I/II data, alerts, and custom views
SogoTrade Pro Web✔Web Browser (Desktop/Web)Active/self-directed traders needing customizable dashboards and advanced tools
SogoTrade Web Platform✔Web Browser (Desktop/Web)General retail investors trading stocks, ETFs, and options
SogoOnline✔Web BrowserSimpler web interface for basic trading needs
Trading Platform

News

ExposureSomething You Need to Know About SogoTrade

Have you ever heard of a broker named SogoTrade? In this article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information.

WikiFX
2024-11-13 18:36
Something You Need to Know About SogoTrade
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User Reviews

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User comment

2

Comments

Write a review

Andyliew
more than one year
SogoTrade's swaps rates are better than most if not all. Ticks are richer than some brokers as well. I just wish I had found this broker earlier.
SogoTrade's swaps rates are better than most if not all. Ticks are richer than some brokers as well. I just wish I had found this broker earlier.
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2023-02-28 13:49
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风格86450
more than one year
Exceptional support team. I had a few questions, and all emails and chats were answered within minutes. In terms of customer service, SogoTrade deserves five stars.
Exceptional support team. I had a few questions, and all emails and chats were answered within minutes. In terms of customer service, SogoTrade deserves five stars.
Translate to English
2023-02-15 17:53
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