New Features and Benefits Offerings for SogoTrade Accounts

Increased Account Protection

As a member of the Securities Investor Protection Corporation (SIPC), funds are available to meet customer claims up to a ceiling of $500,000, including a maximum of $250,000 for cash claims. For additional information regarding SIPC coverage, including a brochure, please contact SIPC at (202) 371-8300 or visit www.sipc.org.

Our clearing firm has purchased an additional insurance policy through a group of London Underwriters (with Lloyd's of London Syndicates as the Lead Underwriter) to supplement SIPC protection. This additional insurance policy becomes available to customers in the event that SIPC limits are exhausted and provides protection for securities and cash up to an aggregate of $600 million. This is provided to pay amounts in addition to those returned in a SIPC liquidation. This additional insurance policy is limited to a combined return to any customer from a Trustee, SIPC and London Underwriters of $150 million, including cash of up to $2.15 million. Similar to SIPC protection, this additional insurance does not protect against a loss in the market value of securities.

Check Writing and Debit Cards

The PenFlex checking account provided by Penson Financial Services is a special cash management service that links to your account's money market fund and allows access to check writing and a debit card.
Please contact us for more information.
Download Penson Flex Application

Money Market Funds and Mutual Fund Investing

Sogotrade will make available multiple mutual fund families offering access to hundreds money market funds and load and no-load mutual funds. Although SogoTrade continues to support the concept of individual stock selection for portfolio development, we recognize the benefits of mutual funds for clients who prefer managed portfolios to support their investment plans. More information will be forthcoming.
Please contact us for more information.

IRA’s

Traditional IRA. You can establish and make contributions to an IRA if you received taxable compensation during the year and have not yet reached the age of 70 1/2 by the end of the year. Contributions may be made up to the lesser of 100% of compensation or $5,000 ($6,000 for individuals over the age of 50) as of 2010. If you maintain multiple IRA accounts, the maximum contribution to all of the accounts cannot exceed these totals. An IRA for any year may be opened and funded at anytime before the due date for filing your tax return, not including any extensions.

Rollover IRA. If you received an eligible rollover distribution from your IRA, employer's qualified pension, profit sharing or stock bonus plan, annuity plan, or tax sheltered annuity plan (403(b) plan), you can roll over all or part of it into an IRA. Rollover contributions must be made by the 60th day after the day you receive a distribution from your IRA or employer's plan in order to continue their tax-deferred status.
Please contact us for more information.
Open An IRA´s Account

Educational Savings Accounts

Eligibility - Any individuals who fall within certain income limits may make contributions up to $2,000 per year on behalf of a child under the age of 18. Single tax filers with annual adjusted gross income (AGI) up to $95,000 or married joint tax filers with AGI up to $190,000 are eligible to make the maximum annual contribution to a Coverdell ESA. The amount that may be contributed is gradually reduced to zero at AGI levels between $95,000 and $110,000 for single filers and between $190,000 and $220,000 for joint filers.

Tax Deferred Earnings / Tax Free Withdrawals - While contributions are not tax deductible, the earnings in the account grow on a tax deferred basis and distributions are tax free if used to pay qualified education expenses.
Please contact us for more information.
Open An Education Saving Account

Portfolio Margining

SogoTrade will be offering in the near future the feature of Portfolio Margining. In 2007, as the industry expanded leveraging capabilities with the introduction of portfolio margining services, Penson, SogoTrade’s clearing firm) was at the forefront. They were one of the first firms approved by US regulators to offer these services. The Penson Portfolio Margin Model employs, among other techniques, a Theoretical Inter-Market Margining system (TIMs) methodology that supplies the base margin computation for each eligible security. Equities and indices, with related options, are evaluated as a portfolio. In theory, a hedged portfolio with offsetting risks has the opportunity to qualify for lower overall margin requirements under this model.
Please contact us for more information.

Fixed Income and Certificates of Deposit

SogoTrade will be offering a fixed income solution allows users to conduct self-directed searches and price discovery from a universe of competitively priced primary and secondary offerings, providing access to one of the largest pools of centralized fixed income liquidity. Access to relevant retail products consisting of primary and secondary Municipals, Corporates, Agencies, CMOs, Treasuries, Strip/Zero Coupons, Certificates of Deposit, Structured Products and Auction Rate Securities
Please contact us for more information.
Download Penson Flex Application

Cost Base Accounting

SogoTrade will be providing a number of methods to make you tax filing much easier. When the regulation dust settles on this matter we will give you specific alternatives. We are aware of this support and we are committed you empowering you with effective tools.
Please contact us for more information.