When choosing an online broker, low margin interest rates can be just as important
as low commission fees. At SogoTrade you will find low $1.50* and $3.00 online equity
trade commissions as well as some of the lowest margin interest rates in the industry.
SogoTrade’s lower margin interest rates can translate into thousands of dollars
in savings every year for customers that trade on margin. The combination of low
cost commissions with low margin interest rates makes SogoTrade unique and is just
another way SogoTrade provides value to its customers. For more details please view
Interest & Rates page.
SogoTrade Margin Interest Rate Schedule
|
LOAN BALANCE
|
INTEREST RATE
|
|
$0.01 - $9,999.99
|
base rate(4.25%) + 3.00% = 7.25%
|
|
$10,000.00 - $49,999.99
|
base rate(4.25%) + 2.75% = 7.00%
|
|
$50,000.00 - $99,999.99
|
base rate(4.25%) + 1.75% = 6.00%
|
|
$100,000.00 - $149,999.99
|
base rate(4.25%) + 1.50% = 5.75%
|
|
$150,000.00 - $249,999.99
|
base rate(4.25%) + 1.50% = 5.75%
|
|
$250,000.00 - $499,999.99
|
base rate(4.25%) + 1.25% = 5.50%
|
|
$500,000.00 - $999,999.99
|
base rate(4.25%) + 0.75% = 5.00%
|
|
$1,000,000.00 and above
|
base rate(4.25%) + 0.25% = 4.50%
|
All commissions, fees and rates are subject to change without notice.
The margin base rate corresponds to the Genesis Securities broker call rate as defined
by current industry standards and other commonly recognized interest rates as well
as the common charges related to extending margin credit. Base rate is current as
of October 30, 2008, is set at 4.25%. Securities priced at or below $5 are not marginable
with SogoTrade, and are subject to liquidation to cover margin debits.
Imagine the Savings
Paying a 2.00% lower margin interest rate can save you thousands in margin interest
fees every year.
|
On a Debit Balance of:
|
Amount Saved Annually with a 2.00% Lower Margin Interest Rate
|
|
$50,000.00
|
$1,000.00
|
|
$100,000.00
|
$2,000.00
|
|
$250,000.00
|
$5,000.00
|
|
$500,000.00
|
$10,000.00
|
|
$1,000,000.00
|
$20,000.00
|
Compare Our Numbers
SogoTrade not only features some of the lowest online equity trade commissions,
it has some of the lowest margin interest rates as well.
|
Debit Balance
|
SogoTrade
|
E*trade
|
TDAmeritrade
|
Scottrade
|
Charles Schwab
|
|
$10,000
|
6.50%
|
7.25%
|
9.25%
|
8.75%
|
8.75%
|
|
$50,000
|
5.50%
|
6.24%
|
8.00%
|
8.00%
|
7.25%
|
|
$100,000
|
5.25%
|
6.24%
|
7.75%
|
7.75%
|
7.125%
|
|
$250,000
|
5.00%
|
5.24%
|
7.50%
|
7.50%
|
7.00%
|
|
$500,000
|
4.50%
|
5.24%
|
7.50%
|
7.00%
|
7.00%
|
|
$1,000,000
|
4.00%
|
4.24%
|
6.75%
|
6.50%
|
6.50%
|
Margin interest rates for competitors were obtained on March 24th, 2008 and are
believed but are not guaranteed to be accurate. Some of the firms listed above may
reduce or waive fees depending on account activity or total account value
*$1.50 commission is for Premium Investment Plan subscribers. A $10.00 monthly subscription
fee is associated with Premium Investment Plan subscriptions.
*For Trades above 5000 shares, the commission cost is the regular commission plus
$0.004 per share. Commissions are charged on a per order basis. Limit orders executed
over multiple days and orders modified after a partial execution on the same day
will be treated as separate orders for commission calculation purposes. View Examples.
For SogoTrade trades of stocks priced less than $1.00, an additional fee of ½ of
1% of principal value applies.
View Examples.