With 6 to 12 trades a day, you might want to look at Zecco instead. It gives 30 free trades a day, up to 40 free trades a month. After that, it costs $3.50.

By the way, I am transferring my holdings out from Sogoinvest. See THIS POST.

Would SogoInvest make for a good daytrading account? I typically make about 6 to 12 trades per day.

Thanks,

vanman

Thanks for all the info about Well Fargo. I like the fact that they are a known company, which brings a certain level of comfort, though I’m not so sure that being known equates to being a good company to do business with. (My wife absolutely hates doing business with B of A over the phone using their 800 number to the extent she’s cancelled our account with them. To be fair, she had no problems with the local branch, but her bad experiences with the 800 number customer service drove her off the edge, but I digress…)

Anyway, I’ll be speaking with my wife this evening about Wells Fargo vs Sogoinvest. If we’re in a position to meet the 25K Wells Fargo requirement, we may go that route. I’ll let you know. Thanks again.

I am going to Wells Fargo because their free trades are easy to qualify. No reason to pay $3 to Sogo when I can get it for free.

If you meet the $25k and trades less than 100 times a year, Wells Fargo could be ideal, at least in theory. I cannot comment on the trading executions yet since I haven’t done any, but so far, their customer service reps have been friendly and helpful the few times I call them.

Do you still have your account with SogoInvest ? If so, can you update your experience with them ? If not, can you let us know why you dropped them ? (Sorry if this info is somewhere on your site. I couldn’t find it).

I’m basically just looking for an inexpensive broker. I make approximately 2 to 4 trades a month. I don’t need research or have any special customer service needs. Zecco is too new for me and B of A’s deposit requirement is too steep.

Thanks very much for sharing your broker experiences !

- Barney