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  5. SogoTrade

SogoTrade is a US-based platform that has a long-standing history. It was established in 1986. The additional level of security of the company is provided by FINRA and SEC. It says a lot about broker when it is backed by such reputable financial regulators. The support center is relatively fast and helpful. However, the reviews note some cons, for example, hard to navigate website and not a wide choice of assets. A demo account is not provided

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  • Fouded

    1986

  • Min deposit

    500$

  • Min withdrawal

    100$

  • Withdrawal fee

    no

  • Inactivity fee

    no

  • Min bet

    0.01 lots

  • Max. leverage

    1:30

  • Withdrawal of funds

    1-7 working days

  • Asset type

    BO, CFDs, Crypto, Forex, Indices

  • Regulated

    FINRA, SIPC

  • Deposit with credit card

    Visa, Mastercard, Maestro, Bank transfer, Local Bank Transfers

  • Depositing with electronic wallet

    Skrill, Neteller

  • Withdrawal

    Visa, Mastercard, Maestro, Bank transfer, Local Bank Transfers, Skrill, Neteller

  • Avalaible plamform

    MT4, MT5, XM WebTrader, IOS, Android

  • Company registration

    11 BROADWAY SUITE 514 NEW YORK, NY 10004 UNITED STATES

  • Contacts

    1-646-885-6594

Pros

  • Customer service for those who call in is prompt

    The options platform, SogoOptions, is tightly integrated with the OptionsPlay tool set

    Chinese language support is available for customers who want it

    Fully paid stock lending program can help generate additional income

Cons

  • SogoTrade still charges commissions for equity trades

    You cannot choose a tax lot when closing a position

    Switching from one web-based platform to another requires several clumsy steps

    No interest is paid on idle cash

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