SogoTrade
 | |
| Private | |
| Industry | Financial services |
| Founded | South Carolina in 1986 |
| Headquarters | New York, New York |
Key people | Jonathan Yao (CEO), Dennis Maloney (President) |
| Products | Online investing, Stock broker |
| Website |
www |
SogoTrade is a U.S. online discount stock brokerage firm offering financial products including stocks, options, ETFs and Education Savings Accounts. The firm offers five online trading platforms and provides market research tools to its customers. SogoTrade has offices in New York, St. Louis and Los Angeles with bilingual customer services. They maintain a mail center in Shanghai, China to accommodate their international customers and provide 24-hour customer service, Monday through Friday.
SogoTrade is regulated and licensed in the US by the Financial Industry Regulatory Authority (FINRA)[1] and insured by Securities Investor Protection Corporation (SIPC).
History
1986-1992
The firm was founded in March 1986 as Coastal Investments Associates, LTD [2] in the State of South Carolina. The name was changed to Wang Investment Associates, Inc. in 1992. The firm for many years operated as a traditional brokerage firm providing investment recommendations to its clients.
2006
In June 2006, SogoTrade, then a division of Genesis Securities, was launched as a discount online stock brokerage firm with commissions of only $1.50 per trade. By November 2006, SogoTrade was listed by Forbes as “The Deepest Discount Broker." In 2008, SogoTrade increased its trade commissions to $3, which was still among the lowest in the industry. The Chinese version of the SogoTrade website was also launched in 2008.
2010
In 2010, Wang Investment Associates, Inc. became incorporated in the State of Delaware and purchased the SogoTrade name and retail accounts from Genesis Securities.[3]
2013-2014
In 2013, Jonathan Yao, former President of Scottrade Hong Kong LTD, led a group that acquired Wang Investment Associates, Inc. and purchased the SogoTrade online trading platforms.[4] In January, 2014, Mr. Yao was named the CEO of the company and changed the name of the corporation to SogoTrade, Inc.[5]
Trading tools and software
SogoTrade maintains a range of trading platforms (both web-based and mobile) including:
- SogoOnline – Simple All-In-One trading platform for stocks, ETFs and options.
- SogoTrader – Customizable platform providing the tools and controls most traders need.
- SogoOptions – Customizable Option Trading Platform with streaming quotes, analysis and risk management.
- SogoMobile – Simple and intuitive browser based mobile stock and ETF trading platform allows traders to stay in touch with the markets when they are on the go.
- SogoElite – Trading application platform designed for highly capitalized and active traders. It supports experienced traders with time and sales, advanced dynamic charting, and backtesting.