cheep. ZERO customer service.
Been with SOGO for a few years now. It was cheap to start. Their customer service has always been problematic, now it is gone. No one answers the phone- it just rings. It is not toll free any more.
if you use them, BE CARFULL.
my latest experience-
-my latest issue with them involes them selling over $11000 of stock to cover a 3k margin call they didnt notify me about/was do. When I did get a "live chat" person, this is what I got:
"[sogo2]: Being notified of margin calls, is not required. That is a service we provide to you. "
ok fine, lets go with that. The call was for ~$3k, they sold OVER $11,000 in stock. When I asked why, here is what they said-
"[Me]:so why did you sell over $11,000 of stock for a $3k margin call?
[sogo2]: I was informed by our margin department that we sold 3 to 4 times that amount because of the requirements of that stock.
[Me]:and as I asked- what REQUIRMENTS. there are none for ARCC
[sogo2]: The requirements for ARCC is 25 Which is why we sold 3 to 4 times that amount
[Me]:what does "25" mean? as in, they must be sold in blocks of 25? if so, no problem. why did you sell ALL 864 shows, or better yet, HOW since 864 is not devisable by 25.
[sogo2]: 25requirement means that when we sell the positions to cover the call it only covers 25of the margin call.
[sogo2]: So because of the 25requirements on that stock, it was $2924, which was used to cover the margin call. "
They signed off after that and would not explain what "25" was. I am looking into how I file a complaint with the FTC. Not sure what else to do.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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