If my history with them is any indication, it means they will be solving the problem. Though you may never know if they solved it or not. (Except that you never have the situation occur again.) And I doubt it was an accident. when I call with a complaint they have been forthright with the issue (if it was common.) Like my issue back in january. I was receiving Margin Calls daily except that I was all cash.
giles117, Thanks. Can you do the same to open a short position using stop-sell (or stop-sell_short). i.e, not closing a long position using stop-sell? (IB apparently does this using "stop-sell" even fulfilling short uptick rules if needed automatically. For some stocks, there is no uptick rules necessary to short.)
Correct you can stop sell to open a short postion or stop buy to open a long position..... I like the way IB allows this via the book trader. Especially wih the new advanced mode.
giles117, I have contacted Sogo today. They have said that though SogoElite has been launched earlier this year, the advertised features including stop orders or shorting capabilities are not available yet and planned to be available some time next week.
They stated all these features will be in full force by Thursday. Which is why I am waiting for my account transfer before I can go live and prove all the things they claim Interestingly enough, I found out about this in Barrons Magazine, in an article rating TOS as the #1 Software Based Broker and IB #2 I scremed at them today asking why wasnt a current customer informed of this and they said it was because it hadnt gone "live" yet. I posed your question to me to the person I speak with most over at Sogo. Dustin. He has been EXTREMELY helpfull whenever I have an issue. Hopefully they live up to my expectations (which arent very high. LOL. Just work and work and work and stay the heck out my way. LOL) Forgive me for cheerleading, they have been very "out of my way" since I switched from Etrade to them. Now that I am with IB. I really like IB, but I am keeping SOGO as my alternate. with the new priceing of elite it allows me to pick and choose which broker for which order..... I also have a TOS account as well. Not full featured as IB, but the program is pretty darn quick (faster than IB) And the charting is worlds better. I can actually trade signals with them. But IB is my choice hands down. No need to switch to a sep Trade page to place an order, can add any type of order I desire in one place, etc.... IMO except for the speed of the app, IB has em all beat still. Good news is TOS will be expanding their futures offerings in April, and adding FOREX. If they add a booktrader/matrix trader window, that will make them very useful. Who knows which broker I'll use most......
*For stocks priced less than $1, an additional fee of 1/2 of 1% of principal value applies" so if i buy 5000 shares of 0.9, it is bad deal for me. also, if i buy 10000 shares, i have to half c for the extra 5k shares. no ach for elite either. still the top choice for high priced stock is ib and for pennies, tdameritrade.
giles117, It does not seem like Sogo's features actually got implemented by Thursday (today). I came across a few comments about Sogo posted below. Did you experience anything like that? "Sogoinvest has a lot of bugs. Imagine waking up and seeing a negative balance and unauthorized transfers! Where's my money 'we don't know but it's just a giltch'." "Stay away from SOGO INVEST. Non-existent customer service and they have sneaky ways of making money of the accounts. I mean be honest, we are all in this to make money. Tell us that the trade is $4 or $5. Dont cheat and say its $3 and then slap costs left and write. As indexfundfan said, they do have unfair practices. They are not SOGO INVEST, they are NO GO Invest!" "Well Iâm really not kidding. It took a week and a half for them to complete the transaction(ACH). Iâm not going to put down the company just because of what happend to me but my experience with them was not really that great." "I too am not happy with SogoInvest, they took a week to fund the account and for 2 days after the money was withdrawn from my Checking account, it sat in Limbo apparently, coz it was not in my Checking account and not in my SogoInvest account, finally it is there and now these are the problems I see: 1) From the Account page I type in a Symbol and click on âGoâ .. it says âCreateXMLRequest() not able to get Request Objectâ ?? 2) So I go to the Trade -> Real Time Trade page and type a symbol and click on Quote and it does NOTHING!!!!" "I requested an ACH withdrawal on 10/30/06 and am still waiting today, 11/17/06. Iâve made numerous phone calls and left messages for numerous individuals, each time I call they ask if I can call back the next morning. Today when I called they say they processed the ACH to my checking account on 11/7/06, however upon logging in to my sogoinvest account I see my balance is still in the account and Iâve seen no deposit in my checking account. Iâd say get your money out while you can. Also file complaints with the better business bureau, federal trade comission and new york state attorney generalâs office."
I have had an account with SogoInvest for about 5 months. I transfered funds from an account with another broker and that took about 3 weeks for them to process (very slow). So far I have made about 60 trades with one glitch so far (the one I mentioned in an earlier post). I have not had any problems with errors in the balance of my account. I have not yet tried to transfer funds out of my account, but I do know that SogoInvest requires you to mail them signed forms to transfer funds out of your account. I know they do not like faxed copies; they want you to mail all forms with original signatures.