SogoTrade Review 2023 (Expert Review)

SogoTrade Review Summary

SogoTrade is an online brokerage company that allows customers to deposit funds from their bank accounts. To use the Bank transfer method, you will need to have a bank account in your name. Once you have deposited funds to your SogoTrade account, you can start trading in the stock market. It only takes a few minutes to set up your account, and you can do it from anywhere. SogoTrade is an excellent option for new traders who want to try trading without the hassle of visiting multiple sites. The company has several features, including a live chat feature that will help you reach a live broker. Its customer support representatives are available from Monday through Friday.

SogoTrade review
SogoTrade Platform Features

SogoTrade main features and highlights
๐Ÿ—บ๏ธ Country of regulation Financial Industry Regulatory Authority (FINRA)
๐Ÿ’ฐ Trading fees No
๐Ÿ’ฐ Inactivity fee Yes
๐Ÿ’ฐ Withdrawal fee No
๐Ÿ’ฐ Minimum deposit 0
๐Ÿ•– Time to open a SogoTrade account 1. *A SogoTrade demo account can be opened in a few minutes, but live SogoTrade trading account creation times will vary depending on how long it takes to process your SogoTrade KYC documents.
๐Ÿ’ณ Wire Transfer No
๐Ÿ‘› Depositing with electronic wallet No
๐Ÿ’ฑ Number of base currencies supported 1
๐ŸŽฎ Demo account provided Yes
๐Ÿ›๏ธ Financial Instruments offered Forex, Commodities, Indices, Stocks, Crypto, Futures

SogoTrade review
SogoTrade Financial Regulation

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

SogoTrade review
SogoTrade Pros And Cons

Regardless of how you trade, there is always a risk to online trading, as well as some key advantages to using such a method. Below are some key pros and cons. The pros of using SogoTrade include a large choice of assets that are available to be traded 24/7; and easy-to-use website and mobile app; video guides and chart reading tools to help you carry out fundamental and technical analysis; community features to help you learn from and integrate with other platform users. On the other hand, the cons of using SogoTrade can be that the spreads offered on trading cryptocurrencies (Availability subject to regulation) are relatively wide; no mutual funds available to invest in; high risk meaning it is not often a suitable platform for new traders.

SogoTrade review
SogoTrade Advantages

One of the main advantages of using SogoTrade is around the clock service and support as well as research offerings. Not only this, but SogoTrade has reduced transaction costs and fees that are often associated with traditional brokerage firms. This provides users of SogoTrade with greater flexibility and more control - time is of the essence when trading, and where traditional brokers require appointments just to initiate a trade, trading with SogoTrade makes the process a lot quicker. Finally, users have the ability to monitor their investments in real time. SogoTrade offers stock quotes and trade information, making it easy for users to view how their investments are doing.

  • SogoTrade has been in business over 10 years.
  • SogoTrade offers Neteller as a payment method
  • SogoTrade offers Skrill as a payment method
  • SogoTradeoffers Islamic Accounts
  • SogoTrade offers mobile trading applications

SogoTrade review
SogoTrade Disadvantages

Although SogoTrade has a lot of good points SogoTrade does not offer the below.

SogoTrade Review Risk Warning: Your capital is at risk.

SogoTrade Review

SogoTrade review
Things to understand when trading with SogoTrade

Online trading on trading platforms like SogoTrade have seen huge growth in the last 3 years. Trading with SogoTrade requires that you take the time to learn how financial markets work and are able to trade with SogoTrade using in depth technical analysis and SogoTrade risk management trading tools. Trading with SogoTrade involves risk. You should only risk capital with SogoTrade that you can afford to lose. Understand your risk tolerance with SogoTrade, and have a trading strategy that SogoTrade is able to help you execute. SogoTrade is a very accessible trading platform but you must take the time to be able to effective use the trading tools and financial instruments SogoTrade give you access too.

SogoTrade review
SogoTrade Trading Fees

Trading fees on SogoTrade are taken in the form of the spreads SogoTrade offers when buying and selling financial instruments like stocks, commodities, fiat currencies and indexes on SogoTrade. SogoTrade fees vary depending on the financial instruments traded and can include, SogoTrade overnight funding fees, spreads, margins and SogoTrade inactivity fees, currency conversion fees, and a spread for applying a guaranteed stop order. There may be some fees when transfering money to and from your SogoTrade account charged by your 3rd party payment provider if your SogoTrade base currency is different from your SogoTrade withdrawal method.

NameSogoTradeIC MarketsRoboforex
Account FeesNoNoNo
Withdrawal FeesNoNoYes
Deposit FeesNoNo
Inactivity FeeYesNoNo
riskwarningTry Now

Your capital is at risk
Try Now

Losses can exceed deposits
Try Now

Losses can exceed deposits

SogoTrade review
SogoTrade Financial Instrument Fees

SogoTrade fees for Forex, Commodities, Indices, Stocks, Crypto, Futures are listed below.

SogoTrade review
SogoTrade Stock Trading Fees

The majority of SogoTrade trading fees, commission is either a flat fee per trade or calculated based on the number of traded shares. Several brokers do also offer zero-commission trading for stocks, ETFs, and options. A SogoTrade stock trading fee is a brokerage fee that is charged when you buy or sell stocks. A trader may also pay commission or a fee for buying and selling other investments, like options or exchange-traded funds.

SogoTrade review
SogoTrade Forex Fees

Commission on SogoTrade Forex trading can either be a fixed fee (i.e., a fixed sum regardless of volume) or a relative fee: the higher the trading volume, the higher the commission. The amount of money that a trader is charged for SogoTrade Forex fees is based on their trade size. To calculate SogoTrade Forex fees, one would subtract the bid price from the ask price to find the spread. A Forex broker keeps this spread as their fee/commission.

SogoTrade review
SogoTrade Cryptocurrency Fees

Aside from the price of the cryptocurrency itself, each cryptocurrency exchange adds a fee for trading, when customers purchase and sell coins. SogoTrade cryptocurrency fees can vary, but most exchanges charge between 0.1% to 1% or more per trade. That means that if you've used $1,000 to invest in a certain crypto, the fee you will eventually pay for that transaction could be anywhere between $100 and $1,000. SogoTrade cryptocurrency fees include a fee for the Maker (which adds to the order book liquidity through limit orders) and Taker (which subtracts liquidity from an order book through market orders).

SogoTrade review
SogoTrade Non Trading Fees

SogoTrade non-trading fees include a variety of SogoTrade brokerage fees and charges that a trader will pay which are not related to buying and selling assets using the SogoTrade trading platform. The most common non-trading fees include SogoTrade withdrawal fees, SogoTrade deposit fees and SogoTrade inactivity fees.

SogoTrade review
SogoTrade Deposit Fees

SogoTrade does charge deposit fees in some cases. When funding your SogoTrade account there may be some SogoTrade deposit fees which will vary depending on the payment method you use to deposit to your live SogoTrade trading account.

SogoTrade review
SogoTrade Inactivity Fees

SogoTrade does charge clients an inactivity fees for dormant SogoTrade trading accounts. A SogoTrade inactivity fee is a sum charged on SogoTrade brokerage accounts who have not met the minimum buying or selling amount of activity over a specific period. Brokers typically attempt to compensate for lack of commissions by charging inactivity fees.

SogoTrade review
SogoTrade Withdrawal Fees

SogoTrade does not charge withdrawal fees. Withdrawals fees vary between SogoTrade and SogoTrade alternatives depending on where you are located and how much money you are withdrawing.

SogoTrade review
SogoTrade Account Fees

SogoTrade does not charge account fees. Account fees charged differ between SogoTrade and other brokers. An account is a fee that SogoTrade and other brokers assesses on all accounts for the ability to keep an account on their platform.

SogoTrade review
SogoTrade Account Opening

The SogoTrade account registration process is simple, user-friendly, and quick. Within 1 most SogoTrade trading accounts are ready for live trades. Our SogoTrade account was validated in 1 day, but live SogoTrade trading account verification times will vary depending on the time it takes to process your KYC documents and SogoTrade trading account application. A SogoTrade demo account can be opened in a few minutes.

SogoTrade trading accounts are available in over 194 countries. SogoTrade is restricted in the following countries.

Apart from the restricted countries a SogoTrade trading account can be opened globally.

The SogoTrade trading platform is available for residents in US. Some financial instruments SogoTrade offer may be restricted in your country.

  • Fast SogoTrade account opening.
  • SogoTrade accounts can be opened and KYC can be verified digitally.
  • SogoTrade minimum deposit is 0 USD / GBP / EURO.
  • SogoTrade trading account verification may be held up for longer than a day if there is an issue with verifying your account.

SogoTrade review
SogoTrade Deposit And Withdrawal

SogoTrade Account Base Currencies

A base currency is the currency in which your account is denominated. In other words, it is the currency you use to trade. Base currencies are used for accounting purposes to refer to the currency in which an investor maintains their book of accounts. For foreign exchange market purposes, a base currency refers to the first currency in a currency pair and the second, the quote currency.

GBP, USD, EURO are supported by SogoTrade as account base currencies. However, in each country, only two or three account base currencies are accessible, usually the local currency plus USD. In the United Kingdom, for example, only GBP, EUR, and USD are accessible for UK traders.

SogoTrade offers the following account GBP, USD, EURO.

When trading make sure your SogoTrade trading account currency is the same currency as your withdrawal and deposit bank account otherwise there may be some additional currency conversion fees levied by your bank. SogoTrade has no control over the fees your bank may charge for currency conversions or withdrawals and deposits to from and to your bank account.

NameSogoTradeIC MarketsRoboforex
Number Of CurrenciesYes104
riskwarningTry Now

Your capital is at risk
Try Now

Losses can exceed deposits
Try Now

Losses can exceed deposits

SogoTrade review
SogoTrade Deposit Fees and Deposit Methods

Investors can log in to their SogoTrade trading account, type in their credit card information and the funds required will be posted in a number of business days. Investors can also transfer funds into their SogoTrade trading accounts from an existing bank account or send the funds through a wire transfer or online check.

SogoTrade Deposit Fees

Making a deposit on your SogoTrade account is free.

SogoTrade Deposit Methods

There are several methods through which you can deposit money into your SogoTrade account. One can use a credit or debit card and SogoTrade accepts payments from credit and debit cards provided by MasterCard and Visa. You can use PayPal, funding your SogoTrade account using a personal PayPal account. One can also use bank wire or electronic bank transfer. If you have enough funds in your respective account, your bank account will be debited while the equal amount will be deposited into your SogoTrade account.

SogoTrade review
SogoTrade Withdrawal Fees and Withdrawal Methods

You can withdraw cash from your SogoTrade brokerage account if you have available funds. If you want to withdraw more than you have available as cash, you may need to close open SogoTrade positions before doing so. Remember that after you close your orders, you may have wait for the trade to settle before you can withdraw that money from your SogoTrade account.

SogoTrade Fees When Withdrawing Your Account Balance

SogoTrade do not charge withdrawal fees. Some withdrawal fees are out of the control of SogoTrade and may be due to 3rd party payment providers and your account base currency.

SogoTrade Withdrawal Methods

Log into your SogoTrade trading account, which is connected to your bank account. Go to the section that says โ€œfundsโ€ or โ€œaccountsโ€ and click on it. You will be given two choices: either to add funds or withdraw funds. Click 'withdraw funds' to start transferring money from your SogoTrade account to your bank account. To withdraw money from your SogoTrade account you can use credit or debit cards. SogoTrade processes withdrawals to credit and debit cards provided by MasterCard and Visa. One can also use PayPal, as SogoTrade processes withdrawals to PayPal accounts. Finally, you can also withdraw funds straight to your bank account via bank transfer.

SogoTrade review
SogoTrade Trading Platforms

As there are a number of tradable financial instruments available on the SogoTrade trading platform. Before investing in the SogoTrade platform, there are important factors to consider. Some platforms are designed for the more advanced trader, thus offering more research and analytical tools. The SogoTrade platform has a demo account and educational tool, but it may not be designed for new traders so focuses less on those educational features. SogoTrade offer phone, and email support.

If you struggle with technology, you need to consider the level of support on SogoTrade is available. Another thing to consider is your financial goals. Make sure that a SogoTrade account fulfils these goals. Several platforms offer commission-free trading, but some require a minimum fee for opening an account.

There can also be additional fees, such as inactivity charges, withdrawals and transfers. Make sure that you have enough funds to trade via a SogoTrade account. Ensure that SogoTrade allows you to focus on the type of trading that you want to focus on.

Make sure SogoTrade is correct for your investment purposes. Markets change quickly, and you need to be able to execute an order instantly. on your platform. Before using SogoTrade, think about how easy it is to use for your personal needs. Does the SogoTrade platform offer real-time updates or delayed updates that are more informed? Remember to check if SogoTrade is well regulated, and what tradeable financial instruments SogoTrade has. Security is very important when it comes to trading with SogoTrade.

SogoTrade Web Trading Platform

A SogoTrade web trading platform is a piece of software that is used for trading. This includes opening, closing, and managing market positions through SogoTrade which acts as a financial intermediary. SogoTrade is a web trading platform through which Forex traders can open and close positions online, without downloading any software. Via a web browser, traders can follow Bid-Ask spreads, place Stop Loss and Take Profit orders, as well as track all past and current positions executed.

Mobile Trading Platform

Both Android and iOS devices are supported by the SogoTrade mobile trading platform.

SogoTrade Apple IOS Trading Platform

A SogoTrade iOS trading platform is the application software that enables investors and traders to place trades and monitor accounts through iOS apps on Apple devices, such as an iPhone.

SogoTrade Google Play Android Trading Platform

A SogoTrade Google Play trading platform is the application software that enables investors and traders to place trades and monitor accounts through Google Play apps on Android devices, such as an Android mobile smartphone.

SogoTrade review
SogoTrade Mobile Trading User Experience

SogoTrade mobile trading gives its users a platform to trade from anywhere in the world, as long as they have an internet or WiFi connection. The mobile trading app provides an ease of transacting while using a mobile device. This is because orders can be placed quickly and effortlessly. SogoTrade mobile trading refers to trading using a mobile phone.

Leading brokerages like SogoTrade offer mobile trading apps to their clients who are able to use them to trade and even monitor their entire SogoTrade portfolio. All an investor needs is a Web-enabled smartphone and a trading account with SogoTrade. Once you have download the SogoTrade trading app, you are ready to begin.

SogoTrade review
SogoTrade Desktop Computer Trading Platform

A SogoTrade computer trading platform is a software which one can use to research, place, monitor and edit trades on your desktop computer. You can choose from many platforms, including desktop platforms, trading apps, web-based platforms and third-party programs. The SogoTrade desktop computer trading platform is the software that enables investors and traders to place trades and monitor accounts through financial intermediaries. The SogoTrade desktop trading platform offers other features to its users, such as real-time quotes, charting tools, news feeds.

SogoTrade MetaTrader 4

MetaTrader 4, known as MT4, is a trading platform used by online retail foreign exchange traders. MetaQuotes Software developed and released this programme in 2005. The software is licensed to foreign exchange brokers who provide the software to their clients. It is a free-of-charge Forex trading platform, offering wide technical analysis options, flexible trading system, and algorithmic and mobile trading. MT4 is a popular online trading platform that can be used to automate one's trading. Its simple user interface provides users with access to advanced technical analysis and flexible trading systems.

SogoTrade MetaTrader 5

MetaTrader 5 is a free application for traders allowing to perform technical analysis and trading operations in the Forex and exchange markets. MetaTrader 5 is a multi-asset platform suitable for trading in the Stocks and Futures markets too. It is a multi-asset platform that allows trading Forex, stocks and futures, and it also offers superior tools for comprehensive price analysis. There are many benefits at MT5, as the platform represents an all-in-one concept, offers impressive analytical tools and a modern look with the allowance to open hundreds of charts and perform analysis through truly advanced institutional grade features.

SogoTrade PC Trading Platform

One needs a computer with high performing hardware if their plan is to be a full time trader using SogoTrade. A trading computer with access to a SogoTrade PC trading platform is a superior, extremely fast computer which is designed and customized to maximize a traders ability to interface with markets and make decisions in real time. There are four key ingredients to a great Trading Computer: speed, reliability, multiple monitors, and post-sale service & support.

SogoTrade Apple Mac Trading Platform

Apple Macs and MacBooks can easily handle the most important requirements when using the SogoTrade trading platform. This includes the ability to have multiple browser tabs or trading apps open, a high quality display or monitor (high definition Retina displays with True Tone technology, adjusting and adapting to ambient lighting), an accurate trackpad or mouse, lightweight design, and long battery life. Macs are easy to set up, start up, use and even maintain. A Mac can go from cold boot to live trading using just a couple of mouse clicks and in well under a minute. Therefore, the SogoTrade trading platform is very user friendly and easy to use on a Mac device.

SogoTrade review
SogoTrade Trading Look And Feel

The SogoTrade user interface (UI) is what SogoTrade traders will see and interact with first when trading with the SogoTrade trading platform. The SogoTrade is well designed. The goal of the SogoTrade trading UI is to make the SogoTrade user's experience easy and intuitive. The SogoTrade application has good user experience and a good level of customer satisfaction.

SogoTrade Security

SogoTrade is a secure trading platform. SogoTrade offers traders security via 2 factor authentication, SSL encription when trading with SogoTrade. SogoTrade trading accounts are masked and encrypted using cutting-edge encryption and masking technology to secure your personal and financial information when trading with SogoTrade. Rate limitation on SogoTrade suspicious account activities is another layer of protection that is provided for SogoTrade trading accounts, for example multiple failed login attempts with SogoTrade. You have the option to further safeguard your account by using SogoTrade Two-Factor Authentication (2FA), which provides an extra layer of security.

The SogoTrade trading infrastructure is constantly watched and guarded by a trained team at SogoTrade In addition, SogoTrade never send sensitive information without first encrypting on the SogoTrade trading platform using transport layer security (TLS) and SSL.

SogoTrade review
Placing A Buy Or Sell Order On SogoTrade

Available SogoTrade order types. # market, limit, stop, stop limit, Good until end of day / canceled.

SogoTrade Market Order

A SogoTrade market order is an order to buy or sell a stock at the market's current best available price. A market order usually ensures an execution, but it does not guarantee a specified price. Market orders are optimal when the primary goal is to execute the trade immediately. SogoTrade market orders are executed by a broker or brokerage service on behalf of clients who wish to take advantage of the best price available on the current market. SogoTrade market orders are popular as they are a fast and reliable method of either entering or exiting a trade.

SogoTrade Limit Order

A SogoTrade limit order is an order to buy or sell a stock with a restriction on the maximum price to be paid or the minimum price to be received. If the order is subsequently filled, it will only be at the specified limit price or better. However, having said this, there is no assurance of execution.

SogoTrade Stop Order

A SogoTrade stop order, also referred to as a stop-loss order, is an order to buy or sell a stock once the price of the stock reaches a specified price, known as the stop price. When the stop price is reached, a stop order becomes a market order. A sell stop order is entered at a stop price below the current market price. If the stock reaches the stop price, the order becomes a market order and is filled at the next available market price.

SogoTrade Stop Limit Order

A SogoTrade stop-limit order is an order to buy or sell a stock that combines the features of a stop order and a limit order. Once the stop price is reached, a stop-limit order becomes a limit order that will be executed at a specified price (or better). The SogoTrade stop-limit order triggers a limit order when a stock price hits the stop level. A SogoTrade stop-limit order can be helpful when trading if you are unable to watch your trades all day.

SogoTrade review
SogoTrade Alerts And Notifications

Price alerts and notifications can be established for executed orders, important news, and margin calls, for example. On the online platform, these notifications appear as pop-up messages. It would be preferable if you could set up email or SMS notifications as well.

SogoTrade review
SogoTrade Trading Platform Features

Online trading platforms like SogoTrade are used by traders to help them with every aspect of trading. Market analysis, price projections, and purchase timing are all key when trading live financial markets with SogoTrade. The SogoTrade trading platform provides traders with up to the second charts in order to enable them to execute transactions at the click of a button using SogoTrade.

SogoTrade Margin Trading

SogoTrade margin trading means borrowing money from the brokerage firm in order to carry out trades. When trading on margin, investors first deposit cash that then serves as collateral for the loan, and then pay ongoing interest payments on the money they borrow. In essence, SogoTrade margin trading is a facility under which one buys and sells stocks that they cannot afford. You are allowed to buy and sell stocks by paying a marginal amount of the actual value. This margin is paid either in cash or in shares as security. Your broker funds your margin trading transactions.

SogoTrade review
SogoTrade Account Types

SogoTrade Demo Account

SogoTrade offers demo accounts that gives traders the ability to purchase and sell SogoTrade financial instruments in a practice environment, using fake SogoTrade digital money and live market conditions and data. When you practise on a SogoTrade demo account, one of the many advantages you'll enjoy is the opportunity to get acquainted with the more technical parts of the SogoTrade platform. SogoTrade demo accounts allow you to experience and practice a variety of market charts, SogoTrade trading indicators, and trading strategies using SogoTrade.

SogoTrade Standard Account

SogoTrade offers a standard trading account, allowing SogoTrade traders to trade a wide range of financial instruments, with competitive spreads, using the feature rich SogoTrade trading platform.

SogoTrade Islamic Accounts

SogoTrade islamic accounts respect Islamic finance law. SogoTrade swap free accounts do not accumilate interest and SogoTrade transactions are actioned immediately. A SogoTrade Islamic Forex account is a halal trading account that is offered to clients who respect the Quran and wish to invest in Islamic compliant financial instruments, using SogoTrade following the principles of Islamic finance. As Sharia law prohibits the accumulation of interest, traders with SogoTrade Islamic accounts do not pay or receive interest rates.

SogoTrade review
SogoTrade Tradable Financial Instruments

SogoTrade tradable financial instruments are the financial instruments that are specifically available to trade on the SogoTrade trading platform. This refers to the different types of financial markets you can trade with through SogoTrade. Sometimes called securities , they range from commodity futures to stocks and CFDs, to currencies and metals, and more on SogoTrade.

NameSogoTradeIC MarketsRoboforex
CFD TradingYesYesYes
Stock Markets100210053
Fractional SharesNoYes
riskwarningTry Now

Your capital is at risk
Try Now

Losses can exceed deposits
Try Now

Losses can exceed deposits

SogoTrade review
SogoTrade Trading Stocks

Stock trading with SogoTrade is the act of purchasing and selling shares in a corporation listed on a stock exchange available for trading with SogoTrade; if you possess the stock on SogoTrade, you own a piece of the corporation and may be entitled to voting rights where applicable.

Stock trading on SogoTrade involves purchasing and selling stocks and share using SogoTrade periodically in order to time trades against the stock markets, with the aim of using SogoTrade to profit from your stock trading. SogoTrade stock traders look to profit from the short-term market developments by selling stocks for a profit or buying stocks at a cheap price on SogoTrade. Stock traders on SogoTrade conduct significant study, frequently dedicating several hours every day to market monitoring using SogoTrade trading tools.

SogoTrade review
SogoTrade Trading ETFs

What Are ETFs

SogoTrade does not offer ETF trading. An ETF is a collection of assets whose shares are traded on a stock market. They blend the characteristics and potential benefits of stocks, mutual funds, and bonds. ETF shares, like individual stocks, are traded throughout the day at varying prices based on supply and demand.

What Are Fractional Shares

SogoTrade does not offer fractional share trading.

Investors can buy fractional shares of a stock, making it easier to diversify even with modest amounts of money. Investors can buy stock in fractional shares by specifying a dollar amount rather than the price of a whole share.

SogoTrade review
SogoTrade Trading Cryptocurrencies

SogoTrade does not offer cryptocurrency trading.

Cryptocurrency trading is not offered by SogoTrade, so you will need to find a SogoTrade alternative that allows you to buy and sell the underlying cryptocurrency assets. SogoTrade CFD trading on cryptocurrency assets is not allowed in the United Kingdom as set by the UKs financial regulator the FCA. Check to see if CFD cryptocurrency trading is allowed in your region with a SogoTrade alternative and make sure you undertand the risks fully before trading.

SogoTrade review
SogoTrade Forex Trading

Forex trading with SogoTrade is a method through which to invest money which involves trading one currency for another in a Forex currency pair with SogoTrade. The main aim of SogoTrade Forex trading is to successfully predict if the value of one currency will increase or decrease when compared to another. You can trade major, minor and exotic currency pairs with SogoTrade. As a SogoTrade Forex trader, one buys and sells currencies on a foreign exchange market. Their duties include performing research or analysis on a currency pair using a trading platform like SogoTrade. In general, Forex traders can either work for banks and hedge funds or trade independently using trading platforms like SogoTrade. Some traders use charts and indicators for Forex analysis, while others rely on news and economic data available on SogoTrade.

SogoTrade review
SogoTrade Commodities Trading

Commodity trading is a type of trading available on SogoTrade where individuals or businesses buy and sell financial instruments using SogoTrade related to commodities, such as metals or oil.

SogoTrade review
SogoTrade Options Trading

SogoTrade options trading is the trading of instruments that gives someone the right to buy or sell a specific security on a specific date at a specific price. If one decides to complete that purchase or sale, they are know to be exercising the option. SogoTrade option strategies are the simultaneous, often mixed, buying or selling of one or more options which differ in one or more of the options' variables.

SogoTrade review
SogoTrade Futures Trading

Futures trading with SogoTrade is where derivative financial contracts obligate a buyer to purchase an asset or a seller to sell an asset at a predetermined future date and set price using SogoTrade to facilitate the trade. A SogoTrade futures contract allows an investor to speculate on the direction of a security, commodity, or financial instrument available on SogoTrade. Typically, futures contracts are traded on an exchange such as SogoTrade; one trader agrees to buy a given quantity of securities or a commodity, and take delivery on a certain date. The selling SogoTrade trader to the contract agrees to provide it.

SogoTrade review
SogoTrade Bonds Trading

Bonds trading on SogoTrade is a way of making profit from fluctuations in the value of corporate or government bonds. The government will pay a defined interest rate on an investment for the duration of the issued bond, and then give the original sum back at the end of the loan's term to the SogoTrade trader. Bonds can be bought and sold on SogoTrade after they are issued. While some bonds are traded publicly through SogoTrade, most trade over-the-counter between large broker-dealers like SogoTrade acting on their clients' or their own behalf. Yield is therefore based on the SogoTrade purchase price of the bond as well as the coupon.

SogoTrade CFD Trading

A contract for difference (CFD) allows traders to speculate on the future market movements of an underlying item without owning it or taking physical delivery of it. CFDs can be used to trade a variety of underlying assets, including stocks, commodities, and foreign exchange.

NameSogoTradeIC MarketsRoboforex
Forex CFDYesYesYes
Index CFD2530
Stock CFD1108400
Commodity CFD2020
Crypto CFDNoYesYes
riskwarningTry Now

Your capital is at risk
Try Now

Losses can exceed deposits
Try Now

Losses can exceed deposits

SogoTrade review
SogoTrade Trading Research Tools

Taking advantage of SogoTrade trading research tools which are designed to help traders analyse potential investments using the SogoTrade trading platform. Some SogoTrade research tools include charts, technical analysis, and SogoTrade trading indicators.

SogoTrade Trading News

Traders can follow the markets and make wise investment decisions on SogoTrade by using the news to help form a strategy when it comes to choosing investments. A SogoTrade news trading strategy involves trading based on news and market expectations, both before and following news releases. Traders need to assess the news immediately after it is released and make a quick judgement on how to trade as a result.

SogoTrade Economic Calendar

An economic calendar is used by investors to monitor market-moving events, such as economic indicators and monetary policy decisions. Market-moving events, which are usually announced or released in a report, have a high probability of impacting the financial markets. A SogoTrade economic calendar is a resource that allows traders to learn about important economic information scheduled to be released throughout the major economies. Events may include indicators such as GDP, the consumer price index (CPI), and the Non-Farm Payroll (NFPs) report.

SogoTrade Fundamental Data On Financial Instruments & Companies

Fundamental research does not usually generate findings that have immediate applications in a practical level. Fundamental research aims to answer the questions of why, what or how and tend to contribute to the pool of fundamental knowledge in a research area. SogoTrade fundamental analysis research data looks at the price movement of a security and uses this data to attempt to predict future price movements. Fundamental analysis, on the other hand, looks at economic and financial factors that influence a business. Fundamental analysis therefore evaluates securities by attempting to measure their intrinsic value.

SogoTrade Charting

Technical analysis indicators such as MACD,RSI, Stochastics, OBV, and Fibonacci are vital for trading. The primary types of chart used by traders on SogoTrade are the Candlestick Chart, Line Chart, Point and Figure charts, and Renko Chart. Charts such as these are plotted either on an arithmetic or logarithmic scale and the analyst then goes with either one depending on the information acquired.

SogoTrade portfolios

Trading portfolios are useful when trading with SogoTrade.

A trading portfolio is made up of various investment vehicles. Distinct trading portfolios, each tailored toward a different investing strategy, might be owned by an investor.

A SogoTrade trading portfolio is a traders collection of investments, which may include a variety of SogoTrade financial instruments.

SogoTrade review
SogoTrade Payment Methods

A SogoTrade payment method is required to fund your SogoTrade trading account before placing a buy or sell order on a financial instrument.

When trading with SogoTrade, there are a variety of payment options accessible; different brokers support different deposit and withdrawal methods. Each trade payment option has its own set of benefits and cons in terms of costs, processing times, and limits. Some thing to be aware of is if your bank accounts base currency is different to the base currency of your trading account, your bank may add additional transfer fees that SogoTrade do not have any control over.

NameSogoTradeIC MarketsRoboforex
Payment MethodsBPAY, Credit Card, FasaPay, Giropay, Mastercard, Neteller, PayPal, POLi, QIWI, Rapid Transfer, Skrill, UnionPay, Visa, Wire Transfer, Yandex MoneyADVcash, Alipay, Bitcoin Payments, Cashu, FasaPay, Giropay, iDeal, MoneyGram, Neteller, Perfect Money, POLi, QIWI, Rapid Transfer, SafeCharge, Skrill, Sofort, Trustly, Vietcombank Transfer, Visa, Webmoney, WeChat Pay, Wire Transfer, Yandex Money
riskwarningTry Now

Your capital is at risk
Try Now

Losses can exceed deposits
Try Now

Losses can exceed deposits

SogoTrade review
SogoTrade Withdrawl Methods

When trading with SogoTrade at some point you will want to release your funds back to your bank account or other withdrawal method. Many modern trading platforms offer withdrawal of your trading account balance to digital wallets and direct bank transfers. Depending on your geo region certain withdrawal methods may be more convenient to you. Each withdrawal method has its own withdrawal time which you will have to check before withdrawing your SogoTrade account balance. SogoTrade may have minimum withdrawal limits that you will need to check before withdrawing.

You may be charged a currency conversion fee by your withdrawal method if you withdraw your SogoTrade account balance in a currency other than GBP, or whatever your withdrawal method account base currency is.

SogoTrade Withdrawals Times

The time it takes for your withdrawal to arrive is determined by the method you used to make it. It's important to remember that this is the payment method you used to fund your SogoTrade account.

Withdrawal requests can take up to three business days to be processed by SogoTrade.

You may anticipate to receive your money within three business days for bank transfers, credit/debit cards, and digital wallets.

If you're having a withdrawal transferred to your digital wallet account, your SogoTrade should arrive in less than 24 hours.

SogoTrade review
SogoTrade Customer Support

Customer support represents the resources within the SogoTrade company that provides technical assistance to its customers after they use the SogoTrade service. A customer may often need to seek out support when they are in need of help, so a customer support team must be easy to contact, available, and responsive.

SogoTrade offer email, phone, customer support.

SogoTrade Email Support

SogoTrade offers email support.

Email support is a a convenient method of SogoTrade customer service but responses to support queries are not quick. You may have to wait between 1 - 3 days for a response from SogoTrade regarding your support request.

SogoTrade Livechat Support

SogoTrade offers livechat support.

SogoTrade live chat support is a way for customers to obtain help from SogoTrade through an instant messaging platform. It happens at a one-to-one level, often via the company's website. It can be a proactive chat pop-up, with a chat box appearing on the screen and asking if you need help. Clicking on it would then connect you to a live agent. Livechat is great if you require a reponse to your support request withing 15 minutes.

SogoTrade Telephone Support

SogoTrade offers telephone support.

SogoTrade telephone Support is often used for pre-sale queries, order taking, or even upselling and cross-selling, and troubleshooting. Outbound calls are calls made to customers from the SogoTrade call centre to give or take information.

SogoTrade review
SogoTrade Educational Resources

SogoTrade educational resources are used throughout the SogoTrade learning environment to help and assist with customer's development and learning of trading on SogoTrade. They are designed to reinforce learning and in some cases allow people to put their knowledge to the test using SogoTrade trading tools. Educational resources are brilliant for educators to help deliver the best quality lessons.

SogoTrade Trading Platform Tutorials

SogoTrade offer a range of learning resources and tutorials and guides made available to registered SogoTrade users. The SogoTrade guides are usually broker down into indepth articles explaining varioius trading topics, quizes and video explainers which aim to educate SogoTrade users on basic trading principles.

SogoTrade Trading Videos

SogoTrade offer a selection of online trading videos.

Trading videos on SogoTrade help new and even more experienced investors gain insights into SogoTrade technical analysis tools and how the different financial markets work when trading on SogoTrade.

SogoTrade trading videos cover the basics of financial instruments like stocks, Forex, commodities, ETFs and cryptocurrencies. Some SogoTrade training videos help widen your trading knowledge. The more trading knowledge you have the better you will be able to mitigate and understand trading risks when using SogoTrade to trade live financial markets.

SogoTrade Webinars

SogoTrade offers access to online webinars. A webinar is an interactive online event in which a speaker (or a small group of speakers) delivers a presentation to a large audience of SogoTrade clients who participate by asking questions, replying to polls, and using other interactive technologies available on the SogoTrade trading platform.

SogoTrade review
SogoTrade Financial Regulation When Trading

Financial regulations on SogoTrade protect consumers' investments. Regulations prevent financial fraud and limit the risks that SogoTrade as a financial institution can take with their investors' money. Financial regulators oversee three main financial sectors: banking, financial markets, and consumers. A well-functioning financial system is vital for the economy, businesses and consumers. SogoTrade financial regulation is part of ensuring the safety and soundness of the financial system and protecting consumers.

Is SogoTrade Regulated?

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

SogoTrade is licensed by financial regulators in certain jurisdictions. You can find out if brokers like SogoTrade are licensed in your country, if they have had run-ins with regulators, or received serious complaints from SogoTrade investors, directly with financial regulators in your country.

SogoTrade Regulatory Protection Limits

When registering with SogoTrade you must check with regulatory body your SogoTrade trading account falls under. Even though you are a resident of the UK for example your account may fall under regulatory rules outside the jurisdiction of the FCA. Check which company entity and regulation your SogoTrade account is over seen by. SogoTrade client funds are stored in segregated 3rd party bank account in accordance with SogoTrade financial regulators.

Client country Investor protection amount Regulator
United Kingdom ยฃ85,000 Financial Conduct Authority (FCA)
EU Investor Compensation Scheme max โ‚ฌ50,000 Directive of The European Parliament and European Commission
Other countries 90% of your funds, max โ‚ฌ20,000 Bulgarian Financial Supervision Commission (FSC)

SogoTrade Trading Signals

SogoTrade does not offer trading signals in any form.

Make sure you understand the risks of trading signals.

How does SogoTrade make money?

Because SogoTrade acts as an intermediary, SogoTrade gets compensated on buy and sell transactions of financial instruments. As a result, SogoTrade profit is determined by the volume and number of transactions. SogoTrade earns revenue to fund their SogoTrade platforms and wide range of trading services through market spreads.

Can you buy shares on SogoTrade?

SogoTrade does not provide customers with real company shares trading. SogoTrade offers CFD stock trading. When trading CFD stocks you are not trading real stocks as you do not own any underlying stock assets. A CFD stock is a leveraged deal between the trader and SogoTrade on the speculative up or down price movement on an agreed stocks price movement.

Does SogoTrade offer Cryptocurrency?

SogoTrade does not offer cryptocurrency trading. The offering of crypto CFDs was stopped by most trading platforms on November 27, 2020, as a result of the Financial Conduct Authority of the UKs restrictions on cryptocurrency. While buying and selling Bitcoin and other cryptocurrencies is still lawful, the UK financial regulator, the Financial Conduct Authority (FCA), has made trading cryptocurrencies illegal for UK residents. This is because the FCA considers crypto CFD trading to be a high-risk activity. You'll need to see if trading crypto CFDs are allowed in your country.

SogoTrade Lower fees, lower costs?

SogoTrade have reasonable trading fees and costs. SogoTrade do not charge a deposit fee. SogoTrade may charge a withdrawal fee. Some withdrawal fees are out of the control of SogoTrade and may be due to 3rd party payment providers and your account base currency.

What about the minimum deposit?

SogoTrade minimum deposit is 0 USD / GBP / EUR.

How to start your SogoTrade account?

You can sign up for a live or demo SogoTrade trading account by visiting SogoTrade and signing up. Enter your details, upload proof of ID, fund your account and you should be up and trading within a few hours. Open an SogoTrade account here.

How's the SogoTrade trading app?

SogoTrade allow traders to trade financial markets on SogoTrade does not currently offer trading through any mobile applications on iOS or Android. supported mobile devices.

You can tryout the SogoTrade trading app here.

Is the quality of SogoTrade customer service satisfactory?

SogoTrade have average customer support offering support through email, phone, support options.

Is this broker good for new traders?

SogoTrade is a good trading platform for new traders as SogoTrade offer a good range of educational resources, good support options as well as a demo account.

How do you withdraw money from SogoTrade?

SogoTrade offer a good selection of withdrawal options. Once SogoTrade have confirmed and approved your withdrawal information, withdrawals are usually processed within 1 to 3 days.

Best SogoTrade Alternatives Reviews

If SogoTrade isnt quite what you are looking for you can check out some of the best SogoTrade alternatives below.

Best SogoTrade Alternatives In Detail

If you would like to see SogoTrade compared agains some of the best SogoTrade alternatives available right now you can do so by clicking on the links below.

Check out RoboForex โ€“ Professional services on Forex market

Ashly Chole - Senior Finance & Technology Editor

SogoTrade Review 2023 (Expert Review) guide updated 01/06/23