It’s no secret that there’s a stock broker pricing war happening these days. When one discount broker lowers its cost per trade, all the others are bound to follow. And this is great news for customers!
SogoTrade is one broker that offers rock-bottom trading fees. It offers two prepaid packages. If you buy a 20-trade package, the cost will be $3.88 per trade. If you choose the 50-trade package, that cost will drop to $2.88 per trade. And if you open an account with $10,000 or more, all of your stock trades will be $2.88 for 12 months.
That’s about as cheap as costs per trade come these days. So what is SogoTrade? And what other kinds of promotions does this platform have going on?
SogoTrade is a no-frills, low-cost, bilingual (Chinese and English) discount brokerage platform. Its headquarters are in New York, and the company has been around for many years, executing orders quickly and cheaply for its customers. To see a more comprehensive review of the company, read Investor Junkie’s SogoTrade Review.
If you like what you see, you’ll be interested in SogoTrade’s many promotions:
100 FREE Trades for All New Transferred Accounts
Right out of the gate, no strings attached, SogoTrade is offering 100 trades for free if you transfer your account from another brokerage. That alone is a $288 value if we use the $2.88-per-trade price.
Transferring Funds From TD Ameritrade? Get $100 of Your Fees Paid!
Yep, it’s a great deal. If you transfer funds from TD Ameritrade to SogoTrade, the platform will pay up to $100 of your account transfer fees!
$2.88/Trade for 12 Months!
This is different than $2.88 per trade if you trade more than 150 times a quarter. In this promotion, if you deposit at least $10,000, then you are locked into $2.88 per trade, no matter how many trades you make! This is a great deal and basically unheard-of among the competition.