SogoInvest's Newest addition SogoElite

Nah, I am actively waiting to use it. LOL.

They are behind in the rollout. I have been in constant email contact with them however.
 
Oh thats bad! Then why are they telling me to send the account transfer form so that I can use elite platform in 2 days! Are they behind in the rollout of the entire platform or are they behind in account transfer?

I have been using sogoinvest since it was launced and I have mixed opinion about them.

I know a lot of people who have closed their sogoinvest accounts and transferred out because they were not satisifed with it. Do you think these guys can go out of business or have liquidity crunch? I'm getting concerned about it. You think we r protected properly?
 
Im really pissed with Sogoinvest because their year end tax form 1099 only has my sales proceeds, it does not have my cost basis for the transaction and neither do they have a profit/loss statement. When I asked them, they told me to go through every monthly statement and calculate my cost basis manuallyf to prepare the Schedule D-1. I have 100s of transactions and I will go crazy preparing my profit/loss statement this year. I have received supplemental cost basis statement from all my other brokers.

Giles, did you have the same experience?

This is really insane. They told me I would not have that problem in elite, don't know if thats true.
 
I keep a journal of all my trades. All I did was compare my trade records to their trade records.

I keep this in mind. They have 60 employees, and customer service is not #1 on their list.

William Yeh's philosophy is Low prices, not great service. However the service I have received has been what I call good. Clear communication settles me down. But to ignore me... That makes me hot....

All issues I have brought before them have been handles. Some more promptly than others. Otherwise my trading experience has been good. (Aside from the browser based trading) Hence the anxiousness to get over to Elite. Just wish they'd get it DONE.
 
I just applied for the new Sogoelite account. Lets see how quickly they can set it up.

Giles, are u waiting for your account to be setup? or waiting for your balance/securities to be transferred from Sogoinvest account?
 
Account Setup is what I am waiting on.

And it has been TOO long IMO.

I think they should have waited to announce this till they were ready to move.
 
Quote from giles117:

Sogo isnt going belly up, these guys just aren't the fastest at doing stuff. [/B]
More...

You can say that again! I applied for the Sogo Elite Account on March 21st, and I haven't heard a word from them. They must really be back logged at setting up new accounts.

I'm not giving up on them just yet. It may take another year or two before they really improve their services/customer support, but it will be worth the wait. There's just too much upside potential to write them off at this point.

Now, with all that being said, I'm certainly not going to dump 100k into a Sogo Elite account the minute I open it. They need to prove themselves through the test of time before I give them that much trust. I will likely just put in the minimum active Day Trader requirement of 25k (or slightly above that amount).

I really hope Sogo and Zecco and the other deep deep discount brokers create enough competition to drive down commissions at Scottrade and some of the other big names. But it may take years before that happens. But from what I've been reading, it sounds like zero commissions are on the horizon.

--Scalpo
 
Sogoinvest is up and running well. sogo elite is a new product Who has emaile info@sogoinvest and received answers, or has thi sbeen oyur only CS contact.

email them and let us know what they tell you.

My Money is safe....
 
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