SogoTrade Review 2019

SogoTrade Rated 3/5
SogoTrade have a low rating. We recommend you look at one of their alternative brokers.
Plus500 matches your criteria. Visit Plus500 now here.

SogoTrade Introduction

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of SogoTrade we break down the pros and cons. What SogoTrade are able to offer, what countries SogoTrade are available in. Who SogoTrade are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

Benefits of trading with SogoTrade

  • Regulated by: FINRA
  • Headquarters Country : United States
  • Foundation year 2008
  • Min Deposit : No minimum deposit.
  • Used by over 10,000 traders
  • SogoTrade is not available in the following countries :
Open SogoTrade's Website

Your capital is at risk

At the bottom of this review you can also learn about some pretty good alternatives to SogoTrade

With this review we hope to help you see if SogoTrade is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding SogoTrade that will help you get off to a good start in the world of online trading.

SogoTrade Review Table of Contents

SogoTrade what you should know

SogoTrade offer four ways to trade: Forex trading, CFD trading, Social trading, Share Dealing.

With SogoTrade you will need a minimum deposit of $0. You can sign up for a demo account to acquaint yourself with SogoTrade platform.

SogoTrade are able to accommodate various levels of traders whether you are experienced or a beginner.


Are SogoTrade safe?

When choosing a broker like SogoTrade the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2008, and in operation for 11 years SogoTrade have a head office in United States.

SogoTrade is regulated. This means SogoTrade are supervised by and is checked for conduct by the FINRA regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to SogoTrade, this will be honored. If SogoTrade violate any regulatory rules their regulated status could be stripped.

Any payments funded to SogoTrade accounts by traders are held in a segregated bank account.

For added security SogoTrade use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Try creating two accounts when you are working with SogoTrade. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit SogoTrade

Your capital is at risk

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

What we like about SogoTrade

  • Used by over 10,000 traders
  • Established in 2008
  • Regulated by FINRA
  • Min. deposit from $0

What we don't like about SogoTrade

SogoTrade General Fees

  • SogoTrade withdrawal fees varies on payment method
  • SogoTrade does charge inactivity fees
  • SogoTrade does charge deposit fees

SogoTrade Commissions

  • SogoTrade does charge commission on CFD shares.

What can you trade with SogoTrade?

You can trade a wide variety of instruments with SogoTrade over 205 instruments infact.

If you are looking at trading currency pairs SogoTrade offer over currency pairs.

Compare SogoTrade with XTB and Plus500 below.

Your capital is at risk

FX / Currencies sogotrade XTB Plus500
Forex pairs offered 50 100
Major forex pairs No Yes Yes
Minor forex pairs No Yes Yes
Exotic forex pairs No Yes Yes
Cryptocurrencies No Yes Yes
Commodity CFDs SogoTrade XTB Plus500
Commodities offered 0 21 17
Metals No Yes Yes
Energies NO Yes Yes
Agricultural No Yes Yes
Indiced & Stock CFDs SogoTrade XTB Plus500
Stocks offered 1696 1816
UK Shares No Yes Yes
US Shares No Yes Yes
German Shares No Yes Yes
Japanese Shares No Yes Yes
sogotrade
Instruments
XTB
Instruments
Plus500
Instruments

Trading on SogoTrade web platforms and other applications

SogoTrade is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here.

SogoTrade also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.

See sogotrade's platforms

SogoTrade Trading benefits :

  • Low min deposit

SogoTrade Trading Accounts Offered :

  • Demo account
  • Mini account
  • Standard account
  • Islamic account

Can I try SogoTrade before I buy?

SogoTrade offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

What funding and withdrawl methods do SogoTrade accept?

SogoTrade offer the below funding payment methods. learn more about SogoTrade

  • Credit cards
  • Skrill
  • Neteller

How can I start trading with SogoTrade?

When opening a trading account with SogoTrade, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on SogoTrade trading platforms here.

Performing trades with SogoTrade

SogoTrade allow you to execute a minimum of trade of $4.88. This may vary depending on the account you open. SogoTrade allow you to execute a maxium trade of varies.

As a market maker, SogoTrade may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments.

Education resources at SogoTrade

To trade effectively with SogoTrade, it's important to get a have a good understanding of the XTB trading tools and the markets.

SogoTrade offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with SogoTrade.

Take time to look around the SogoTrade platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Support at SogoTrade

SogoTrade support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian

What you will need to open an account with SogoTrade

As SogoTrade is regulated by FINRA , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore SogoTrade's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with SogoTrade you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.sogotrade.com/ on 12th August 2018.

SogoTrade not quite right?

Check out these SogoTrade Alternatives

We have spent years researching the best alternatives to SogoTrade. Click the links below to learn more.

If you feel some of the above SogoTrade are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of SogoTrade alternatives below.

Related SogoTrade Comparisons

If you would like to see how SogoTrade stands up against other brokers you can read some of our SogoTrade comparisons below. We compare side by side some of our top rated SogoTrade versus comparisons. Read some indepth SogoTrade VS pages below.

SOGOTRADE Frequently Asked Questions

Can I try SogoTrade before I buy?

SogoTrade offer a demo account so you can try before you put down and payment. Learn more here

What funding methods do SogoTrade accept?

SogoTrade offer the following funding payment methods accept Credit cards, Skrill, Neteller, among other payment methods.
Learn more here

Your capital is at risk

How can I start trading with SogoTrade?

When opening a trading account with SogoTrade, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on SogoTrade trading platforms here.

Is my money safe with SogoTrade?

SogoTrade is regulated by FINRA . One of the most important criteria for traders when choosing a broker like SogoTrade is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to SogoTrade, this will be honored. If they violate any regulatory rules their regulated status can be stripped.