I dont have taxpayer identification number, as my country government doesnt issued this kind of number, Can I open margin account?
I have been at SogoInvest for about 6 weeks; I have another 6 weeks of $1 trades! I have learned a great deal. I have spent $49 in tades, or traded 49X.
What am I missing here?...this is no different than folio investing...You cannot go short. Ok...there are limit orders....no window trades...except for the automatic investing...otherwise, it is the same as foliofn.com or buy&hold.com Michael B.
email and phone support are here http://www.sogoinvest.com/sogo/help/CustomerService.aspx they will be able to answer your question
Everything on the website seems to imply that you can't go short - but I don't see a specific mention that you can't do this. Do they come out and say it explicitly somewhere on the Sogo website?
Folio INVESTORS do not go short and I looked at their trade ticket and looked for their short list...How would you go short with them?... I would be willing to bet lunch with you that you cannot go short...but you will need to visit Denver. Buyandhold.com has a better deal....you can trade UNLIMITED Fractional trades for $14.99 a month during one of their three trading windows...Heck! build your own weighting of the S&P 500 and adjust it daily.... you can trade in and out like a "fractional monkey" or dollar cost average automatically in these folio investing bucket shops... http://buyandhold.com/bh/en/about/fees.html Michael B. P.S. I will give Sogo this...they have limit orders and non window type of trading for a low commish, but I bet the fills are not as optimal as a real level 2 broker offers...Look I know nothing about Sogo and have never traded with them. This is my experience talking...The interesting thing is the name "Genisis" is connected with them!
The comission in website written is automated trade $1. What means automated trade ? http://www.sogoinvest.com/Sogo/Home/Default.aspx
Their "automated trade" is a fractional reinvestment set up on a schedule. You can dollar cost average and even "add to" your holdings fractionally based on a dollar amount. But unlike BuyandHold.com fractional is only the reinvestment entry not the original entry...I do not know how dividends are handled, I would have to go back to Sogo's site and check... This is a typical Folio investing type of company (someone said from China?) with the twist of low cost real time trades...(but you still gotta pay 15 or 10 bucks a month..if you do not want 3 buck trades...and watch your fills) Michael B.