The U.S. stock markets represent the biggest single concentration of wealth in history.
While SogoTrade does not offer a foreign exchange account and does not trade on a foreign exchange market, we do facilitate foreign investment in the US Equity and Option Markets.
How to Open an International Account at SogoTrade :
1. Am I qualified to open an international brokerage account?
If you are a citizen of and also ａ resident of a foreign country, you are eligible to open an international brokerage account with SogoTrade. You can apply for an account online or at our office while visiting or traveling in the U.S.
However, if you are physically present in the U.S. for 183 days or more, you are not eligible, unless you are a temporary resident of the U.S. holding visa type "F", "J", "M", or "Q".
2. I am a resident of the U.S., Can I open a joint account with my relatives in a foreign country?
No, all parties on the account must be citizens and residents of the same foreign country.
3. Is there a time restriction to opening an account?
No, all customers can open an online account with SogoTrade at anytime.
4. Is there an age restriction to open an account?
In order to open your own brokerage account, you'll need to be a legal adult (usually 18 years old).
5. How much time does it take to open an account?
After you finish the online application, we recommend that you send the application documents via DHL, UPS or FedEx to us and fund your account at least $500 U.S. to begin trading at SogoTrade. After we receive your documents, we will start reviewing your application and all other forms. We will email, call or fax you the account approval notice after we finish reviewing your documents. The turnaround time for international account reviewing is typically about 2 days.
6. How many accounts can one person open at SogoTrade?
According to FINRA and SEC regulation, one person can only open one individual margin account.
7. Can I have my friend, my representative or my lawyer sign for me?
No. According to U.S. law, if you are applying for a new application, you have to provide your own
8. What is the procedure to open an options account and trade options?
If you didn’t apply for options trading when you first opened your account, you can do so at any time. Complete the online options upgrade application or complete and mail the options application form. Please complete all fields. If the application is for a joint account, both account holders must complete all fields of the application and both persons must sign.
9. Should I use English on the application and signature card?
All of the application must be completed in English. The signature is not limited to English.
10. If I want to withdraw funds, can the check be made payable to a third party or can SogoTrade wire my funds to a third party's bank account?
No. The check can only be made payable to the account holder(s) and must be mailed to your address. Also, SogoTrade can only wire funds to the account holder(s)' bank account on file only.
11. Does SogoTrade charge different fees for an international brokerage account?
No. Our commissions are the same for international accounts. Please go to our Commission Rates page for more information.
12. Can I authorize my friend or relative to trade for me?
Yes, but you have to fill out a Trading Authorization Form. Please go to the Forms Center to download Trading Authorization with Rights of Distribution Form, complete the form, and then mail it to SogoTrade. If the authorized agent is a U.S. citizen or permanent resident, the agent needs to provide a Social Security number. If the authorized agent is living in the U.S. but is not a U.S. citizen, the agent needs to provide a copy of a valid passport or resident card. If the authorized agent is living outside of the U.S., the agent needs to provide a copy of a valid passport or resident card, proof of residency and a notarized Trading Authorization Form.