SogoTrade Review 2025: Discover its Red Flags Now!

WikiFX | 2025-09-12 19:03

Abstract：Forex trading is a risky space where scams happen every day. The best way to stay protected is by staying informed. This is another important article you shouldn't skip; it reveals the key warning signs of SogoTrade.

Forex trading is a risky space where scams happen every day. The best way to stay protected is by staying informed. This is another important article you shouldn't skip; it reveals the key warning signs of SogoTrade.

Red Flags & Issues

1. Absence of MT4 & MT5 Trading Platform

One of the major drawbacks of SogoTrade is the lack of support for MetaTrader 4 (MT4) and MetaTrader 5 (MT5) , the most widely used trading platforms in the forex industry. These platforms are popular for their user-friendly interfaces, advanced charting tools, and support for automated trading through Expert Advisors (EAs). Without MT4 or MT5, traders miss out on robust tools and functionalities that are considered industry standards. Instead, SogoTrade relies on its own trading platforms, which are available on web, desktop, and mobile devices.

2. Limited Investment Options

SogoTrade offers a narrow range of tradable instruments, which can significantly restrict a traders ability to diversify. The platform does not provide access to bonds, fixed-income products, futures, commodities, or even major currency pairs. This limited selection means that clients are confined to a small set of assets, reducing flexibility and potentially increasing risk due to lack of diversification.

3. SogoTrade is being called a SCAM

SogoTrade is being called a scam by an increasing number of users, raising serious concerns about its credibility and trustworthiness. Online forums and review platforms have highlighted various complaints, including delayed withdrawals, poor customer service, lack of transparency in trading conditions, and questionable account practices. It's important for traders to conduct thorough research and be cautious before investing.

4. Withdrawal Issue

Many users have raised concerns over SogoTrade slow withdrawal process. In some cases, withdrawal requests take several days or even weeks to be processed, far beyond the standard industry timeframe of 24–72 hours. This delay raises transparency concerns and can disrupt trading plan. The lack of prompt fund withdrawals can be a major red flag for any financial service provider.

5. Weak Research & Education Offering

SogoTrade provides limited resources when it comes to market research and trader education. Unlike reputable brokers that offer daily analysis, webinars, economic calendars, and educational content tailored for beginners and advanced users, Sho Trade offers very little in this area. This lack of educational material and market insight makes it harder for traders specially for newcomers—to make informed decisions and improve their skills over time.

WikiFX Findings on SogoTrade

According to WikiFX, SogoTrade has received a very low credibility score of just 1.89 out of 10, raising serious concerns about its reliability as a broker. WikiFX has also issued a public warning about Soho Trade to alert traders to the potential risks involved in using the platform. It states:

Warning: Low score, please stay away!

It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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Related broker

No Regulation

SOGOTRADE

Company name：SogoTrade, Inc

Score

1.68

Website：https://sogotrade.com/

5-10 years | Suspicious Regulatory License | Self-developed | High potential risk

Score

1.68

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