SogoTrade

[devilchills]

I am about to open a account with this broker. Any opinions? rumors? warnings? compliments?

ty all for your time.

[Doc]

hey...if u r looking for a good discount broker i would recommend optionshouse...i used to be with scottrade (no complaints) but their commissions were $7/trade, so i looked to switch...i opened an account with tradeking, but for some reason they would not approve me for margin?? which i had with scottrade (and now with optionshouse)...definitely apply for margin if this is your first time trading or else you will be stuck with a cast account meaning your trades won't "settle" for 3 days after you sell...this means you cant buy and then sell stock for 3 days!

anyway, optionshouse is awesome!...i still haven't had the chance to look around at all the features yet, but everything i have experienced so far is great AND $3 trades!!! Just be careful because i still have my scottrade account open as a resource because i am so familiar with it and the bid is usually lower on optionshouse meaning you can sell for a little more than what it says.

Hope this was helpful!

-Doc

[Canada]

hey...if u r looking for a good discount broker i would recommend optionshouse...i used to be with scottrade (no complaints) but their commissions were $7/trade, so i looked to switch...i opened an account with tradeking, but for some reason they would not approve me for margin?? which i had with scottrade (and now with optionshouse)...definitely apply for margin if this is your first time trading or else you will be stuck with a cast account meaning your trades won't "settle" for 3 days after you sell...this means you cant buy and then sell stock for 3 days!

anyway, optionshouse is awesome!...i still haven't had the chance to look around at all the features yet, but everything i have experienced so far is great AND $3 trades!!! Just be careful because i still have my scottrade account open as a resource because i am so familiar with it and the bid is usually lower on optionshouse meaning you can sell for a little more than what it says.

Hope this was helpful!

-Doc

$3 trades!!! That is awesome, is this a US broker house or for both US and Canadian?

[stock10]

I have a TDAmeritrade account and recently opened a Sogotrade account to try it out.

PROS - Sogo trades are $3 for stocks $1 or higher.. compared to TDAmeritrade fee of 9.99

That's it if you want to trade between 9:30am and 4PM at a low trade cost with basic stop loss orders etc.. Sogo works fine.

CONS - These are the ones I find as big issues.

No Pre or After market trading (This is a big issue)
No way to edit a submitted trade.. you have to cancel and reenter
No Trailing sell orders
No Alerts
No details in the emails they send after you sell, buy or cancel an order.. its just a standard email that says order processed.. cancelled .. etc...

And for me as an iphone user there is an app called iStockmanager which ties directly into my TDAmeritrade account. This allows me to enter trades, make changes, see real time stock ticker, see my positions etc... at any spot I have 3g or wifi access... with Sogo you need a web browser to access the site.

So basically it comes down to what kind of trading you will be doing and what kind of access do you want to your account...

Bottom line.. for a low cost Broker Sogotrade works fine... for Bells and Whistles you gotta pay more..

Good Luck ..

[durante1]

yOU CANT NOT THINK THAT THE TRADERS WILL PREVAIL!

[thegreatkhan]

Sogotrade is cheapest but not good. No pre/after market trade. Tradeking and scottrade are the best.

[equine]

I am using sogotrade,so far so good. $3 is great price. it has the basic functions. Now if you use a referral code(my referral code is 362981,thanks if you would like to use it), you can get the first 100 trades for free. It starts from your first trade, not the day you open the account. you can call them and set up the account in a few days. Margin account is available too.

[equine]

In addition, I think if you have over all balance more than 25000 with bank of America. you can have 30 free trades each month. that is really neat.

[aaaaaa]

I have a TDAmeritrade account and recently opened a Sogotrade account to try it out.

PROS - Sogo trades are $3 for stocks $1 or higher.. compared to TDAmeritrade fee of 9.99

That's it if you want to trade between 9:30am and 4PM at a low trade cost with basic stop loss orders etc.. Sogo works fine.

CONS - These are the ones I find as big issues.

No Pre or After market trading (This is a big issue)
No way to edit a submitted trade.. you have to cancel and reenter
No Trailing sell orders
No Alerts
No details in the emails they send after you sell, buy or cancel an order.. its just a standard email that says order processed.. cancelled .. etc...

And for me as an iphone user there is an app called iStockmanager which ties directly into my TDAmeritrade account. This allows me to enter trades, make changes, see real time stock ticker, see my positions etc... at any spot I have 3g or wifi access... with Sogo you need a web browser to access the site.

So basically it comes down to what kind of trading you will be doing and what kind of access do you want to your account...

Bottom line.. for a low cost Broker Sogotrade works fine... for Bells and Whistles you gotta pay more..

Good Luck ..

PROS = Options trading is now available
CONS = No OTC trading

[phdmsd]

I use etrade and the customer service is really professional but all their fees add up quite fast especially when you have over 2K shares.