SogoTrade Rated 3/5

SogoTrade Guide - Read our In Depth 2024 SogoTrade Review

This detailed SogoTrade review has been researched and fact checked by industry experts with over 30 years of financial experience in Forex trading, CFD trading, Social trading, Share Dealing.

Learn more about SogoTrade.

Benefits of Trading with SogoTrade

SogoTrade Review 2024 Quick Summary
💰 Min Deposit 100
👱‍♂️ Used By 17,000 SogoTrade users and traders
📆 Founded 2008
🌍 HQ United States
👮‍♂️ Regulation Financial Industry Regulatory Authority (FINRA)
🚫 Excluded Countries SogoTrade is not available in the following countries :

Open SogoTrade's Website

Your capital is at risk

Learn more about IC Markets.
learn more Learn more about IC Markets.
Losses can exceed deposits

What is SogoTrade?

SogoTrade are a worldwide financial trading platform and broker. founded in 2008

Over 16 years later SogoTrade now serves over 17,000 retail investors Forex trading, CFD trading, Social trading, and Share Dealing trading.

SogoTrade are a global broker. SogoTrade have a head office in United States.

When trading in the financial markets, finding a broker that meets your needs can be very time-consuming.

We will dive deep in this SogoTrade review and assess how well the SogoTrade platform functions in its role as an international multi asset trading platform for traders in 2024.

Visiting many broker websites, all of which have different language uses. Technical language and terminology can be confusing with brokers like SogoTrade. Choosing or shortlisting a trading platform like SogoTrade can be time consuming. Choosing a trading platform requires a significant amount of research and analysis. It can be challenging to understand each platform's various features and benefits, especially with a complex trading platform like SogoTrade.

As a result, selecting the right trading platform like SogoTrade requires a deep understanding of the market, trading strategies, and platform functionality. The task becomes even more daunting when considering the vast number of online brokers like SogoTrade available, each with unique features, fees, and regulations.

In such a complex landscape, finding a reliable and trustworthy broker like SogoTrade requires thorough due diligence and careful consideration. Some SogoTrade trading features can be complex when trading on mobile or using the SogoTrade online trading platform. Beginners and inexperienced traders must take the time to learn how to use the SogoTrade trading tools properly. In our review of SogoTrade we explain the pros and cons. What SogoTrade offer, countries SogoTrade are available in. Who SogoTrade are regulated by and more.

SogoTrade Review Screenshot

When it comes to online trading with brokers like SogoTrade, carefully review SogoTrade as your broker can make or break your success. Choosing the right broker is essential to ensure your SogoTrade investments grow and flourish. However, beware of fake and unreliable brokers lurking in the shadows, waiting to take advantage of unsuspecting traders.

You must be diligent and thorough in your SogoTrade review selection process to safeguard your hard-earned money. It's crucial to do your due diligence and research the reputation, track record and trust worthyness of SogoTrade. You must also ensure the SogoTrade broker's profile, trading tools, fees and regulation aligns with your needs and goals.

Remember, SogoTrade needs to be your partner in your trading journey.

Our team has endeavored to break down the complex world of trading with SogoTrade into easily digestible information in this SogoTrade review. We want to ensure you have all the knowledge necessary to use the SogoTrade trading tools confidently, from depositing and withdrawing funds to executing trades.

We understand that informed decisions with SogoTrade are the key to successful trading, so we've provided this detailed SogoTrade review. So, take a seat, grab a cup of coffee, and dive in to learn about SogoTrade and how it can benefit you or if SogoTrade is not for you.

Online investing with SogoTrade can be just as risky as traditional offline investments. Therefore, conducting thorough research on the company you plan to invest with is crucial. If considering trading financial assets with SogoTrade, evaluating the SogoTrade platform is important. Evaluation includes researching the SogoTrade management team, track record, and services.

As a trader, you should feel confident that your financial investments are in good hands with SogoTrade. That's why it's essential to understand the SogoTrade company policies and practices before making any investment decisions. By doing your due diligence and understanding SogoTrade platform, you can make informed investment choices that align with your financial goals. So take the time to research SogoTrade thoroughly and make the most of your online investing experience.

We aim to provide you with all the information in this SogoTrade review you need to determine if SogoTrade is the right fit for you. But we don't stop there - we also offer valuable insights into other great alternatives to SogoTrade, so you can make a more informed decision and compare other brokers against SogoTrade.

If you want to look at some SogoTrade alternatives that might better fit your needs, we list and compare some of the best SogoTrade alternatives further down this SogoTrade review.

Trading online with SogoTrade requires an understanding of what you are doing. It can be challenging and requires significant research and understanding of the SogoTrade trading tools and features. You must know what you are doing when trading with SogoTrade. That's why we've compiled this detailed SogoTrade review with some important information that will hopefully make you more informed when online trading with SogoTrade.

SogoTrade Review Table of Contents

SogoTrade review
SogoTrade is a Multi-Assets Trading Platform with over 619500+ Assets

Learn more about SogoTrade. SogoTrade is a multi asset platform with 619500+ tradable Assets. Assets available on SogoTrade include Forex trading, CFD trading, Social trading, Share Dealing.

SogoTrade trades in multiple financial asset types. A financial asset is any security or asset that has financial value attached, tangible or intangible. This means that Forex trading, CFD trading, Social trading, Share Dealing are considered financial assets.

Features of SogoTrade

SogoTrade review
What you should know

SogoTrade offer four ways to trade: Forex trading, CFD trading, Social trading, Share Dealing. The assets and products available to you on the SogoTrade trading platform depends on the region of the world, you are in and the SogoTrade entity you have an account.

With SogoTrade you will need a minimum deposit of $100. 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 considering SogoTrade for your trading activities, its financial regulatory status in your region is crucial. One of the primary considerations when evaluating a broker, such as SogoTrade, is to assess the broker's regulatory status and administrative body. Brokers operating without supervision from a regulatory authority are free to make their own rules, which may pose a risk to investors. Any capital you invest is at risk.

Established in 2008, and in operation for 16 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 Financial Industry Regulatory Authority (FINRA) regulatory bodies.

SogoTrade withdrawal requests will be honoured. Brokers that operate under the supervision of regulatory authorities like SogoTrade are subject to strict guidelines that prohibit them from manipulating market prices to their advantage. Regulatory oversight ensures brokers operate with integrity, fairness, and transparency, safeguarding investors' deposits. SogoTrade are held accountable for their actions and may face severe consequences if they violate any financial regulations. If you are a client of SogoTrade and wish to withdraw funds from your account, you can rest assured that your request will be processed promptly. SogoTrade has a reputation for efficient and reliable fund transfers, and adhere to the rules of the financial regulators they are regulated with. When you submit a withdrawal request, SogoTrade will verify your account details and process the payment within the stipulated timeframe, usually within a few business days. By partnering with a trustworthy broker like SogoTrade, you can enjoy peace of mind and focus on your trading activities. If SogoTrade violate any regulatory rules their regulated status could be stripped.

Your capital is at risk

Is my money safe with SogoTrade?

All payments made to SogoTrade by traders are securely held in a segregated bank account.

SogoTrade uses Tier 1 banks for increased security. These banks are deemed the most reliable for client capital due to their strong core capital reserves and ability to withstand losses.

What are Tier 1 banks and why should SogoTrade use them?

SogoTrade partnering with Tier 1 banks offers reliability, efficient payment processing, reduced counterparty risks, and better protection for client funds. These banks are the most financially stable and secure institutions globally, with robust financial strength and high-quality risk management practices. They hold substantial core capital reserves, making them capable of handling unexpected losses and market volatility without endangering their SogoTrade clients' funds.

SogoTrade clients can have greater confidence in their financial security when working with a Tier 1 bank because SogoTrade are subject to strict regulatory oversight and must adhere to stringent guidelines to maintain its Tier 1 status.

What does it mean to have your funds in SogoTrade deposited in a Tier 1 bank?

Depositing funds with SogoTrade ensures that your money is held in a secure bank account with sufficient capital to meet your withdrawal requirements, even if SogoTrade were to go out of business unexpectedly.

Based on the information presented, it is safe to conclude that SogoTrade is a secure and safe platform.

Please be aware that trading in financial assets with SogoTrade carries a risk of loss. SogoTrade trading risk can occur due to inadequate market research, lack of experience, or failure to use the platform tools. It is common to experience rapid losses when trading financial investments like Forex trading, CFD trading, Social trading, Share Dealing due to market volatility. Therefore, you should only risk trading when you understand that your capital is at risk at any time.

SogoTrade emphasizes this risk on its platform and provides clear risk warnings - Your capital is at risk. After answering some important questions about SogoTrade, let's closely examine its features.

To better understand the SogoTrade trading platform, you can create two separate accounts - one with real money and the other a SogoTrade demo account. A SogoTrade demo account provides a risk-free environment for experimenting with the SogoTrade platform's features and trading strategies before risking your actual funds. This approach can help you gain experience and confidence in SogoTrade trading decisions.

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.

How SogoTrade as a Company Compare Against Other Brokers

Broker sogotrade IC Markets Roboforex eToro
Year Established 2008 2007 2009 2007
Head Office United States Australia Belize Cyprus, UK
Regulation Financial Industry Regulatory Authority (FINRA) Seychelles Financial Services Authority (FSA) (SD018) RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076
Used By 17,000+ SogoTrade users 200,000+ IC Markets users 730,000+ Roboforex users 35,000,000+ eToro users
Negative balance protection No Yes Yes Yes
Guaranteed Stop Loss No No No No
Learn More Visit SogoTrade Visit IC Markets Visit Roboforex Visit eToro
Risk Warning Your capital is at risk Losses can exceed deposits Losses can exceed deposits 51% of retail investor accounts lose money when trading CFDs with this provider.

SogoTrade review
SogoTrade Pros and Cons

What we like about SogoTrade

  • Used by over 17,000 SogoTrade users and traders
  • Established in 2008
  • Regulated by Financial Industry Regulatory Authority (FINRA)
  • Min. deposit from $100

What we don't like about SogoTrade

SogoTrade review
SogoTrade Regulation and Licensing in more detail

SogoTrade is regulated by trusted organizations, providing recourse for any issues. Regulatory bodies protect traders through reimbursement schemes in case of SogoTrade going into insolvency. SogoTrade compliance with rules and criteria set by regulatory authorities is mandatory for brokerage firms like SogoTrade to maintain licenses and operate in certain jurisdictions. Financial regulation and licensing are crucial for creating a secure trading environment for SogoTrade traders.

SogoTrade is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the brokers' behaviour, and they will take necessary action if things go wrong. Before trading online with a broker like SogoTrade you should be sure they're legitimate online agent.

Is SogoTrade Global?

Yes, SogoTrade is global as SogoTrade is available in over 194 countries.

SogoTrade is a global trading platform in the sense that it operates in 194 countries including nations in Africa, Asia, Oceania, and Europe. Major countries SogoTrade covers include the UK, Germany, South Africa, Thailand, the United States China and Australia. SogoTrade has a total of more than 17,000 users.

SogoTrade review
SogoTrade Awards

SogoTrade have won numerious industry awards over the 16 years they have been operating as a financial broker. We have listed the most notable awards and mentions for SogoTrade below.

  • Best Online Brokerages 2021 GoBankingRates

SogoTrade review
SogoTrade Fees Explained

  • SogoTrade doesn't charge withdrawal fees.
  • SogoTrade does charge a fee for inactive accounts.
  • SogoTrade doesn't charge deposit fees. A currency conversion fee may be applied as withdrawals and deposits from SogoTrade are conducted in USD. Any other currency will have to be converted to your local currency by your 3rd party payment provider.

SogoTrade Costs To Check

Modern brokers like SogoTrade provide advanced online trading platforms, mobile apps, financial analysis tools and educational resources. These services require significant investment, and in turn, SogoTrade may charge clients various fees for trading activities. Be mindful of these charges, impacting your overall SogoTrade trading profitability.

How SogoTrade Fees Compare Against Other Brokers

Broker sogotrade IC Markets Roboforex eToro
Min Deposit 100 200 10 50
Withdrawal Fees No No No Yes
Inactivity Fees Yes No No Yes
Deposit Fees No No No No
CFD Commission Fees Yes No Yes

SogoTrade Minimum Deposit

SogoTrade requires a minimum deposit of 100 GBP/USD/EUR when opening an SogoTrade trading account.

A minimum deposit is the minimum amount of money required by SogoTrade to open a new online brokerage account with them.

Don't be scared off by brokers like SogoTrade charging a minimum deposit to open a trading account. Brokers charging higher minimum deposits may offer additional premium services on their platforms that are not free on other platforms.

In the trading world, brokers like SogoTrade, have different minimum deposit requirements based on the target audience they are trying to attract. Brokers with lower minimum deposit requirements typically cater to a more mainstream audience who don't require advanced research tools or features. On the other hand, brokers that require a larger minimum deposit often provide a greater range of trading features, more in-depth technical analysis, research tools, and better risk management features.

Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients.

However, it's important to note that depending on your trading account type, some brokers may require a higher minimum deposit of up to 10,000 GBP/USD. Therefore, it's essential to research and compares different brokers to determine which best suits your trading needs and budget.

SogoTrade Withdrawal Fees

SogoTrade doesn't charge withdrawal fees.

SogoTrade Withdrawal rules may vary across different brokers when it comes to transferring funds from your SogoTrade or other broker trading account. Each brokerage firm has its specific withdrawal methods. The payment provider associated with SogoTrade may have different transfer processing fees and processing times, affecting how long it takes to receive your funds.

In addition, currency conversion fees may apply if the SogoTrade withdrawal and receiving currencies differ, adding to the overall transaction costs. The currency conversion fee depends on your base currency, receiving currency, and the 3rd party payment provider that is separate from SogoTrade. Researching and comparing SogoTrade withdrawal policies and fees across different brokers is essential before choosing one, especially if you are withdrawing SogoTrade funds frequently or dealing with large sums of money. Awareness of these SogoTrade fees and policies can help you plan and budget accordingly and avoid any unpleasant surprises when transferring your SogoTrade funds.

For example, SogoTrade allows you to withdraw your funds to Debit Cards, Bank Transfer, Wire Transfer, Electronic Transfer (ACH), Check Deposit.

SogoTrade Inactivity Fees

SogoTrade does charge a fee for inactive accounts.

When a trading account goes unused for a certain period, brokerage clients may be charged an account inactivity fee. To avoid such fees, clients may need to fulfill specific trading activity requirements outlined by SogoTrade terms and conditions. It's important to note that inactivity fees are not unique to online trading accounts, as many financial service companies may also charge them.

Make sure you're fully aware of all SogoTrade fees and services. It's recommended that you check the SogoTrade website before signing up. If you decide to close your SogoTrade account, it's important to do so with the SogoTrade broker customer support and obtain confirmation that no remaining SogoTrade fees are due.

Brokers like SogoTrade must disclose any inactivity fees as part of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances.

Certain brokers may levy inactivity fees to recoup the expenses associated with sustaining your account on their trading platforms when there is a shortage of commission fees earned from your trading activities.

SogoTrade Deposit Fees

SogoTrade does not charge deposit fees. Although bank / 3rd party merchant fees may apply.

Reviewing deposit fees before initiating a transaction is imperative, as certain brokers might impose a charge for depositing funds from your payment method to your trading account. The payment method employed for funding your account might also incur a fee.

Depositing funds into your trading account may incur a fee, which could vary depending on the fiat currency used. For instance, depositing funds from a credit card can attract high fees. Additionally, not all brokers accept credit card payments for account funding. It's crucial to review the funding options and associated fees the broker provides before depositing any funds.

SogoTrade Commission Fees

SogoTrade does charge commission on CFD instruments.

Brokerage firms like SogoTrade may charge commission fees as compensation for executing trades on behalf of traders on their trading platforms. Commission fees can vary depending on the type of financial asset being traded and the SogoTrade trading account level held by the trader.

SogoTrade may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged. Reviewing SogoTrade terms and conditions to understand the commission fees and any other charges that may apply is essential.

SogoTrade review
What can you trade with SogoTrade?

It's essential to note that the trading instruments offered under the SogoTrade brand may vary depending on the customer account holder and country of residence due to regulatory restrictions. Besides, the trading platform the customer selects may also impact the available trading instruments. Therefore, before trading, verify the SogoTrade trading instruments available and the regulations governing them based on your account holder, location, and chosen platform.

You can trade a wide variety of instruments with SogoTrade over 619500 instruments in fact.

If you want to trade currency pairs on global Forex markets, SogoTrade offer over currency pairs.

SogoTrade Compared To Other Brokers

Compare SogoTrade with IC Markets and Roboforex below.

Your capital is at risk

How SogoTrade Trading Options Compare Against Other Brokers

Broker sogotrade IC Markets Roboforex eToro
Instruments Available 619500 2250 12000 6000
Platforms SOGO ONLINE, SOGO Trader, Sogo Mobile, Sogo APP, Mobile Apps, Android (Google Play), iOS (App Store) MT5, MT4, MetaTrader WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), MetaTrader iPhone/iPad, MetaTrader Android Google Play, MetaTrader Mac, cTrader, cTrader Web, cTrader iPhone/iPad, cTrader iMac, cTrader Android Google Play, cTrader Automate, cTrader Copy Trading, TradingView, Virtual Private Server, Trading Servers, MT4 Advanced Trading Tools, IC Insights, Trading Central MT4, MT5, R Mobile Trader, R StocksTrader, WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), Windows eToro Trading App, Mobile Apps, iOS (App Store), Android (Google Play), CopyTrading, Web
FX / Currencies        
Forex pairs offered 61 35 50
Major Forex pairs No Yes Yes Yes
Minor Forex pairs No Yes Yes Yes
Exotic Forex pairs No Yes Yes Yes
Cryptocurrencies (availability subject to regulation) No Yes No Yes
Commodity CFDs        
Commodities Offered 0 20 21 31
Metals No Yes Yes Yes
Energies NO Yes No Yes
Agricultural No Yes No Yes
Indiced & Stock CFDs        
Stocks Offered 2100 0 2042
UK Shares No Yes Yes Yes
US Shares No Yes Yes Yes
German Shares No Yes Yes Yes
Japanese Shares No Yes Yes Yes
Risk Warning Visit SogoTrade
Your capital is at risk
Visit IC Markets
Losses can exceed deposits
Visit Roboforex
Losses can exceed deposits
Visit eToro
51% of retail investor accounts lose money when trading CFDs with this provider.

SogoTrade review
Trading on SogoTrade web platforms and other applications

SogoTrade provides traders with a modern custom platform that can be accessed through a browser-based web application. If you would rather see a MT4 brokers, or MT5 brokers you can do so here.

SogoTrade also offer mobile apps for Android and iOS trading apps help you stay on top of your trades and execute them on the go.

See SogoTrade's platforms

Is the SogoTrade Trading Platform Secure?

You should take the security of your personal information seriously and check SSL encryption is enabled on the SogoTrade trading platform to protect you on PC and mobile SogoTrade platforms. To further enhance security, we encourage traders to always look for the lock sign on their browser when using SogoTrade web trading platforms.

SogoTrade Trading Platform Options

SogoTrade does not offer the MetaTrader 4 (MT4), MetaTrader 5 (MT5) or cTrader trading platforms.

SogoTrade offers its custom trading platform developed and tested in-house. The SogoTrade trading platform allows traders to track their portfolios and the current markets, locate trade ideas and place trades.

The SogoTrade platform allows traders to filter the financial marketplace for trade opportunities that match criteria.

With SogoTrade, you can examine opportunities with actionable research and stock evaluations. Get streaming real-time information on the SogoTrade platform, including news and quotes. Discover possible trades with the strong charting tools found with SogoTrade. SogoTrade is available as downloadable applications or online through the cloud. Monitor your orders with SogoTrade and receive breaking news in your positions.

SogoTrade Trading benefits

  • SogoTrade Low min deposit

SogoTrade Trading Accounts Offered

Below we give an overview of the account types that SogoTrade offer. Whatever you are looking to trade, the varying SogoTrade account types will be able to provide you with what you need.

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

Can I try SogoTrade?

SogoTrade provides a demo account that enables individuals to explore trading before investing their funds. By creating a SogoTrade practice account, users can gain experience and knowledge of how to trade effectively. Demo trading accounts like the SogoTrade demo account can help individuals to make informed decisions before investing their money.

Open a demo SogoTrade account to practice and trade.

Your capital is at risk

SogoTrade withdrawal and funding methods

It's essential to remember that the payment methods provided by SogoTrade vary based on the SogoTrade entity and the SogoTrade client's country of residence. To view the SogoTrade payment options available, you can log into your SogoTrade member's area.

SogoTrade offers various funding payment methods listed in your SogoTrade dashboard if available in your region. To learn more about the SogoTrade funding and withdrawal options available in your area, you can explore the SogoTrade website.

SogoTrade provides several payment methods for funding your SogoTrade account. You may utilize any of these deposit options if they are available in your region. SogoTrade ensures that users have multiple payment methods to choose from, making it more convenient for verified SogoTrade account holders to add funds to their accounts. However, it's important to note that the availability of payment methods may vary depending on the SogoTrade user's location. learn more about SogoTrade funding and withdrawal methods.

SogoTrade Payment Methods

Some SogoTrade payment methods are local and are available only to specific regions. SogoTrade account holders should check which payment methods are provided in your region.
  • SogoTrade accepts Debit Cards
  • SogoTrade accepts Bank Transfer
  • SogoTrade accepts Wire Transfer
  • SogoTrade accepts Electronic Transfer (ACH)
  • SogoTrade accepts Check Deposit
Broker sogotrade IC Markets Roboforex eToro
Bank transfer Yes Yes Yes Yes
Credit Cards No Yes No Yes
Paypal No Yes No Yes
Skrill No Yes Yes Yes
Payoneer No No No No
Neteller No Yes Yes Yes

*please note available SogoTrade and other broker payment methods depend on the clients country of residence.

How can I start trading with SogoTrade?

To open a trading account with SogoTrade, individuals can sign up on the SogoTrade website. Upon completing the signup process, users will receive login details via email, which they can use to access their accounts.

The next step involves submitting identification documents for SogoTrade account validation and making a deposit. Once completed, SogoTrade users can download the trading platform of their choice.

It's important to note that SogoTrade requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks. These checks are a standard practice that helps SogoTrade maintain a trustworthy financial environment for its 17,000 users. Detailed information on the SogoTrade trading platforms is available on their website.

Your capital is at risk

Performing trades with SogoTrade

When using SogoTrade, the minimum trade size is typically $4.88 units of the base currency of the instrument being traded. However, this amount may vary based on the specific account a user has opened. SogoTrade have a max trade of varies.

SogoTrade, as a market maker, may have more lenient entry requirements than ECN brokers, who typically benefit from higher trading volumes and may have larger capital and minimum trade requirements. Market makers usually offer a lower minimum deposit and smaller minimum trade requirements and do not charge commissions on trades. Market makers like SogoTrade can be useful for traders starting or with limited capital.

Like other brokers, SogoTrade margin requirements can differ depending on the traded instrument.

CFD Trading on SogoTrade

We will show you an example of the basics of using SogoTrade leverage.

CFD trading on SogoTrade allows traders to speculate on the price movements of various financial instruments against the broker SogoTrade, without actually owning real assets. With CFDs, SogoTrade traders can profit from upward and downward price movements by going long (buying) or short (selling) on an asset.

SogoTrade provides CFDs which are leveraged products. For this example, let's assume a ten times leverage. So, if you have a $10,000 position, you only need to tie up $1,000 or a tenth of the value in your account. With high-risk leverage, a small sum controls a much bigger financial position.

The effect of leverage on profits and losses magnifies them in both directions. In other words, SogoTrade leverage profits and losses are magnified when trading. For instance, using CFDs, you use the SogoTrade trading platform to buy/sell $10,000 worth of Apple Computer Inc. If the stock rises by 10% due to positive results, your position is now worth $11,000, representing a $1,000 or 10% increase in value. This CFD trade has a 100% increase in the funds initially committed.

On the other hand, if Apple Computer Inc falls by 10%, your position worth $10,000 is now worth only $9,000, representing a $1,000 decrease. Therefore, SogoTrade leverage magnifies both profits and losses in trading.

Trading CFD trades on the SogoTrade platform can provide more flexibility than traditional market trades, allowing access to CFD fractional shares, international markets, and short selling. They are commonly used for short to medium-term trades, such as intraday CFD trading, but are high-risk due to their separation from the financial markets.

Experienced SogoTrade traders can trade high risk CFD trades to hedge items in their portfolio.

Always be aware that CFDs are complex instruments with a high risk of losing money rapidly due to leverage. Your capital is at risk

Education Resources at SogoTrade

SogoTrade offer educational resources which include Video Tutorials. Please bear in mind that these resources provided by SogoTrade do not guarantee any results when trading. When we checked on the SogoTrade website, these educational resources were not available in every language. Also some financial instruments mentioned in any SogoTrade educational resources may not be available in your region.

To trade effectively with SogoTrade, it's important to have a good understanding of the SogoTrade trading tools and the markets. Make sure you make full use of all education tools. Including educational tools with SogoTrade and externally.

SogoTrade . It's essential to take the time to learn about the financial markets and understand how they move before diving into trading with SogoTrade. Familiarizing yourself with the SogoTrade trading platform is crucial to use it effectively.

While learning, you can also use global trading times to practice making live buy or sell trades using SogoTrade. This hands-on experience can help you gain confidence and become more comfortable with trading.

Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with SogoTrade involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing. By effectively managing risk, you can increase your chances of success in the markets.

Learning about the financial markets, trading platforms like SogoTrade, and risk management techniques can help you become a more confident and successful trader.

Take an analytical approach to trading with SogoTrade. Explore the SogoTrade platform and train yourself to think systematically and logically about the markets.

While it may be a new skill set for some, it is what the market requires for success. Developing your trading skills with SogoTrade, before live trading.

Customer Support at SogoTrade

As part of our SogoTrade review, we review customer service options, response times and problem resolution effectiveness on the SogoTrade trading platform. The SogoTrade trading platform supports multiple languages, which includes English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian.

SogoTrade Available Support Types

Based on our experience, we have given SogoTrade a D grade for customer support. We encountered some slow response times or SogoTrade queries that were left unanswered.

Compared to other brokers, SogoTrade offers fewer customer support features. They do not provide live chat support, and their phone and email support can also be slow.

email support and supports a limited amount of Languages. Phone support supports a limited amount of Languages.

Livechat Support at SogoTrade

SogoTrade does not offer LiveChat Support.

Email Support at SogoTrade

We tested the email support of SogoTrade by sending 25 emails simultaneously, and our experience was mixed. While the answer times were generally excellent, with the fastest response being 3 hours, the slowest response was 6 days. We also encountered some instances where we did not receive any SogoTrade response.

The SogoTrade team did resolve and answer our queries, but the email support from SogoTrade was overall average compared to other brokers we have tested.

Phone Support at SogoTrade

We contacted SogoTrade via phone and received quick assistance within 10 minutes of our call.

The SogoTrade phone support team proved to be helpful and able to resolve our queries and issues over the phone. We also tested the multilingual support provided by SogoTrade and found that they could assist us in various languages.

While we found the SogoTrade phone support satisfactory, there is room for improvement in response time.

See how SogoTrade Support Compares Against Other Brokers

Broker sogotrade IC Markets Roboforex eToro
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
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Risk Warning Your capital is at risk Losses can exceed deposits Losses can exceed deposits 51% of retail investor accounts lose money when trading CFDs with this provider.

What you will need to open an account with SogoTrade

As SogoTrade is regulated by Financial Industry Regulatory Authority (FINRA).

As a new client of SogoTrade, you will be required to pass a few basic compliance checks to ensure that you fully understand the risks involved in trading and are permitted to trade with SogoTrade in your region. During the SogoTrade account opening process, you will be asked to provide SogoTrade with certain documents, including a scanned copy of your passport, driving license or national ID, as well as a utility bill or bank statement from the past three months to verify your address.

When registering with SogoTrade have the following documents available.

  • SogoTrade require a scanned colour copy of your passport, driver's license or national ID card.
  • A recent utility bill or bank statement that confirms your residential address for SogoTrade compliance. This must be dated within the last six months.
  • If you plan to fund your SogoTrade account using a credit or debit card, you will need to provide a scanned copy of the front and back of your card. You can mask any sensitive information like the CVV code on the SogoTrade platform.

It's worth noting that the expiration date of the proof of address document may differ for different entities under SogoTrade Brand. Additionally, you will need to answer some basic compliance questions to confirm your level of trading experience. This process usually takes around 5 minutes, and once you've passed compliance, you can start exploring SogoTrade's platform.

However, remember that you won't be able to make trades on SogoTrade until you have passed compliance, which may take several days, depending on your circumstances. It's essential to complete the SogoTrade KYC compliance process as soon as possible to avoid any delays in accessing the SogoTrade platform's features.

It is important to note that SogoTrade may request additional documents or information to verify your identity or comply with regulations. The account opening process usually takes a few minutes to complete, and you can start exploring the SogoTrade platform and features immediately. However, you must pass the verification process to start live trading with SogoTrade, which can take up to a few business days.

To start the process of opening an account with SogoTrade you can visit the SogoTrade trading platform here.
Your capital is at risk
You should consider whether you can afford to take the high risk of losing your money.

CFDs are leveraged products and can result in significant losses, excess of your invested 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 investment advice. All information collected from https://www.sogotrade.com/ on November 11, 2024.

Watch this SogoTrade Explainer Video

Is SogoTrade A Good Broker?

We have spent over 5 years examining SogoTrade in depth. Although we found some very useful aspects of the SogoTrade platform that would be useful to some traders. We feel that a alternative to SogoTrade may better suit you.

  • SogoTrade have a good track record of offering Forex trading, CFD trading, Social trading, Share Dealing.
  • SogoTrade has a history of over 16 years.
  • SogoTrade has a reasonable sized customer support of at least 10.
  • SogoTrade are regulated by the Financial Industry Regulatory Authority (FINRA). SogoTrade is subject to strict regulatory oversight from its respective jurisdiction, which holds SogoTrade (the broker) accountable for misconduct. This regulatory framework helps ensure that SogoTrade operates fairly and transparently and provides SogoTrade customers with a safe and secure trading environment. In any disputes, the regulatory body may also act as an arbitrator to help resolve issue between you and SogoTrade.
  • SogoTrade have regulation from reputable regulators.
  • One of the advantages of using SogoTrade is the quick processing time for deposits and withdrawals, which typically takes only 2 to 3 days. Fast withdrawals from SogoTrade are particularly important as SogoTrade traders want to receive their money quickly. With the efficient SogoTrade payment processing system, traders can enjoy faster access to their SogoTrade funds.
  • SogoTrade have an international presence in multiple countries. Including local SogoTrade seminars and training.
  • SogoTrade can hire people from various locations in the world who can better communicate in your local language.

SogoTrade Risk Disclosure

Your capital is at risk

Trading Risk Disclaimer

Trading financial instruments such as cryptocurrency and foreign currency markets involves high risk and is unsuitable for everyone. When trading on leverage, the potential for loss is significantly higher than when dealing with just your funds. Risky trading leverage allows you to control larger positions with less capital, increasing both the potential for profit and loss.

You will be exposed to a high risk of loss regarding leverage and margin-based trading.

Furthermore, some off-exchange financial instruments and derivatives may offer varying leverage levels and may not be subject to the same regulatory protections as exchange-traded instruments. As a result, they may be subject to higher levels of market volatility and carry a higher degree of risk.

It is important to note that no investment product, technique, or strategy can guarantee profits, and past performance does not necessarily indicate future results. Any investment involves the possibility of financial loss, and it is important to carefully consider your investment objectives, risk tolerance, and financial situation before making any investment decisions.

Trading financial instruments is a high-risk activity that requires careful consideration and risk management. It is important to be aware of the potential for loss and to only invest what you can afford to lose.

SogoTrade not quite right?

If after reading this SogoTrade review, SogoTrade does not fulfill your needs check out these SogoTrade Alternatives.

Click here to view the best SogoTrade Alternatives

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

After extensive research over several years, we have compiled a list of the most effective SogoTrade alternatives available today. If you are unsatisfied with SogoTrade or want to explore other options, we recommend checking out our carefully curated list of highly-rated SogoTrade alternatives. Follow the links below to learn more about these SogoTrade broker alternatives and choose the one that best suits your trading needs.

Related SogoTrade Vs Comparisons

Throughout our comprehensive SogoTrade review, we have covered a lot of ground and provided an in-depth analysis of the platform's features and functionality.

If you're interested in comparing SogoTrade against other popular brokers in the industry, check out our SogoTrade Vs pages. Our team has compiled a series of detailed SogoTrade comparison articles, pitting the SogoTrade platform against some of the best-rated SogoTrade competitors in the market. Dive into our informative SogoTrade Vs pages below to find out how SogoTrade stacks up against other leading brokers.

SogoTrade review
SOGOTRADE Frequently Asked Questions

Read our detailed SogoTrade FAQ Section updated for 2024.

Can I try SogoTrade?

SogoTrade offer a demo account so you can try the SogoTrade platform with virtual trading before you put down a payment. Virtual trading with SogoTrade is zero risk. Learn more here

What funding methods do SogoTrade accept?

Please note that the list of payment methods below depends on the SogoTrade Entity and the client's Country of Residence.

SogoTrade offer the following funding payment methods Debit Cards, Bank Transfer, Wire Transfer, Electronic Transfer (ACH), Check Deposit, among other payment methods.
Learn more here

Your capital is at risk

Is SogoTrade safe?

SogoTrade have over 17,000 users. SogoTrade are considered reliable as they are regulated by and checked for conduct by the Financial Industry Regulatory Authority (FINRA). 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 bank's financial health and strength.Trading with SogoTrade is risky, and because the market is so volatile, losses could happen at any time. Do not invest with SogoTrade unless you are prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Your capital is at risk

Is SogoTrade trading good?

SogoTrade is considered good and reputable to trade with SogoTrade. SogoTrade is used by over 17,000 traders and SogoTrade users. SogoTrade offers Forex trading, CFD trading, Social trading, and Share Dealing trading. Minimum deposit with SogoTrade is 100.

Is SogoTrade trading Legit?

SogoTrade was founded in United States in 2008. SogoTrade has been facilitating trade on the financial markets for over 16 years. SogoTrade offers clients Forex trading, CFD trading, Social trading, and Share Dealing trading. All funds deposited to SogoTrade are held in segregated bank accounts for security. SogoTrade is regulated by Financial Industry Regulatory Authority (FINRA) so can be considered legit.

Is SogoTrade a good broker?

SogoTrade allows Forex trading, CFD trading, Social trading, and Share Dealing trading. SogoTrade is overseen by the top tier financial regulators Financial Industry Regulatory Authority (FINRA) so can be considered a good broker.

Is SogoTrade trustworthy broker?

SogoTrade is a reliable platform that can be considered trustworthy due to its strict regulatory practices. When you fund money to SogoTrade, money is in a segregated bank account that is separate from SogoTrade company's funds. As a regulated broker, SogoTrade cannot directly access your funds, which minimizes the risk of misappropriation or fraudulent activity by SogoTrade. Instead, your SogoTrade funds are held securely in a separate account designated for your investments, providing protection and peace of mind when trading with SogoTrade. Also SogoTrade is regulated in its local jurisdictions including major financial regulators like Financial Industry Regulatory Authority (FINRA).

What is the minimum deposit for SogoTrade?

The minimum deposit to trade with SogoTrade is 100.

How long do SogoTrade withdrawals take?

Withdrawing money from SogoTrade processing time varies depending on the method but averages 1-5 days.

Is SogoTrade regulated?

SogoTrade is regulated by the Financial Industry Regulatory Authority (FINRA). Regulatory bodies conduct regular reviews and audits as part of SogoTrade maintaining their regulatory status. You can learn more about these reviews on the regulator websites.

Is SogoTrade a market maker?

SogoTrade is not a market maker. A market maker speeds up trading as a market maker will purchase or sell your stocks and commodities even if a buyer or seller is not lined up.

How can I start trading with SogoTrade?

When opening a trading account with SogoTrade, you will need to sign up here. After completing the necessary steps of receiving login details via email, submitting identification documents for account validation, and making a deposit, the next step is downloading the preferred trading platform. For detailed guidance on SogoTrade trading platforms, you can follow the link provided below: Learn more about signing up with the SogoTrade trading platform here. This will provide useful information and insights into the various trading platforms offered by SogoTrade, enabling you to make an informed decision about which platform to choose for your trading needs.

Is my money safe with SogoTrade?

Yes your money is safe with SogoTrade.

Overall, strict financial regulation is essential for ensuring that trading platforms like SogoTrade operate fairly, transparently, and responsibly, which ultimately benefits all SogoTrade stakeholders involved.

Trading platforms like SogoTrade must have strict financial regulation for several reasons:

  • Protecting SogoTrade Investors: Strict financial regulation ensures that investors who use the SogoTrade trading platform are protected against fraudulent or unethical behavior by the SogoTrade platform or its employees. Financial regulation can help to prevent investors from losing their money due to dishonest practices by the SogoTrade platform.
  • Maintaining SogoTrade Financial Stability: Strict regulation helps maintain the financial system's stability by preventing excessive risk-taking when using the SogoTrade trading platform. Regulatory procedures reduce the likelihood of the SogoTrade platform experiencing financial difficulties or failing, which could have ripple effects throughout the financial system.
  • Enhancing SogoTrade Transparency: Regulations require trading platforms like SogoTrade to maintain detailed records and disclose SogoTrade client information. Financial regulatory requirements enhances transparency and helps to build trust between the SogoTrade platform and its investors.

SogoTrade is regulated by the Financial Industry Regulatory Authority (FINRA). When selecting a broker such as SogoTrade, one of the most critical factors to consider is the broker's regulatory body and regulatory status. Unregulated brokers pose a direct risk to the security of their client's funds, as they operate without any oversight or regulation. In contrast, regulated brokers are subject to strict rules and regulations that prevent them from manipulating market prices or engaging in fraudulent activities. As a reputable broker, SogoTrade ensures that withdrawal requests are processed promptly, demonstrating its commitment to transparency and accountability. However, brokers that violate regulatory rules can face the consequences such as losing their regulatory status in specific regions, highlighting the importance of working with a trusted, regulated broker for your trading needs like SogoTrade.

Is SogoTrade a con?

SogoTrade is regulated and well established, having been in business for over 16 years. SogoTrade is not a con.

Can you make money with SogoTrade?

Although traders have had great success with SogoTrade, trading on the financial markets with SogoTrade is not a get-rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading, your chance of success will greatly increase. Never trade with money you cannot afford to lose. Your capital is at risk.

Does SogoTrade have fees?

SogoTrade doesn't charge withdrawal fees. SogoTrade does charge a fee for inactive accounts. SogoTrade doesn't charge deposit fees.

When was SogoTrade founded?

SogoTrade was founded in 2008.

How many people use SogoTrade?

SogoTrade is used by over 17,000 registered SogoTrade users.

What is SogoTrade Headquarters country?

SogoTrade has its head quarters office in United States .

Does SogoTrade offer negative balance protection?

SogoTrade does not offer negative balance protection. With Negative balance protection, traders cannot lose more money than they have deposited.

Does SogoTrade offer guaranteed stop loss?

SogoTrade does not offer guaranteed stop loss. With guaranteed stop loss protection, risk is managed. Traders are guaranteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does SogoTrade allow scalping?

SogoTrade does not offer scalping.

Does SogoTrade allow hedging?

SogoTrade does not offer hedging.

Does SogoTrade offer CFD trading?

SogoTrade offers CFD trading.

Does SogoTrade offer STP?

SogoTrade does not offer STP trading.

How many people use SogoTrade?

SogoTrade is used by over 17000 SogoTrade users and traders.

Is SogoTrade an ECN broker?

SogoTrade does not offer ECN trading.

Does SogoTrade offer a demo account?

SogoTrade offers a demo account.

Does SogoTrade offer an Islamic account?

SogoTrade offers an Islamic account.

What are the funding methods for SogoTrade?

Please note that funding methods and options available with SogoTrade can be found in the SogoTrade Members area and depend on the SogoTrade client’s country of residence. Please check your specific available payment methods on the SogoTrade website. SogoTrade accept the following funding methods : Debit Cards, Bank Transfer, Wire Transfer, Electronic Transfer (ACH), Check Deposit.

SogoTrade review written by Andrew Blumer and Mark Hansen

We hope you found our review of the SogoTrade brokerage firm useful.

This article was written by our financial editors, Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years of experience in financial analysis, forecasting, and financial modelling, identifying new market opportunities in Stocks, CFDs, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

SogoTrade review written by Mark Hansen of Comparebrokers.co