New Online Broker 'SogoInvest' Sets Lowest $3 Per Trade Fee
Announcing the launch of SogoInvest, a new and unique online brokerage, setting the lowest $3 per trade commission fees on the Internet, with no hidden fees or account minimums.
New York (PRWEB) July 11, 2006 -- Genesis Securities LLC, the only NASDAQ Certified Platinum Partner for professional order entry, today announced the launch of SogoInvest, a new and unique online brokerage, setting the lowest $3 per trade commission fees on the Internet, with no hidden fees or account minimums.
With the advent of SogoInvest, an online brokerage will for the first time offer automatic daily investments and real-time trading for $3 or less—for Platinum Subscribers, real time trades will be as low as $1.50, and for scheduled automatic investments, it will be $1.00 per trade. SogoInvest customers can take advantage of Dollar Cost Averaging and compound interest returns, in addition to buying and selling fractional shares, which can be purchased at any dollar amount.
“Through economies of scale and its ability to be self clearing, large share volume is facilitated by Genesis Securities, thus resulting in much lower commissions for SogoInvest customers. This powerful combination of transaction speed and low stock trading costs, once offered strictly to professionals, is what makes SogoInvest unique,” says William Yeh, Founder and Chairman of SogoInvest.
Yeh founded Genesis Securities, the parent company of SogoInvest in 1999. Through its Laser technology, Genesis has pioneered one of the fastest direct market access systems in the world. Genesis executes about 2-4% of NASDAQ daily volume and 1-1.5% of the NYSE/AMEX daily trading volume. In January 2006, Genesis traded over 1.6 billion shares, and over 4.4 million trades.
“This is what allowed us to launch SogoInvest. The idea behind Sogo is to give the average investor the pricing that only the professional traders get. Our philosophy is to pass the savings on to our customers and to build a relationship with them over the long term,” adds Yeh.
Fractional Shares and Dollar Cost Averaging
Through Dollar Cost Averaging, an investor can buy smaller amounts of shares over a longer period without worrying about timing the market. While other brokers insist on a minimum of 100 shares per transaction, SogoInvest will allow the investor to acquire the dollar amount they set, purchasing whatever amount of shares that sum can buy at the very moment of acquisition on the market.
Using either a joint or individual account, the investor can set a dollar investment schedule for any day of the week, or a daily or monthly investment in any stock, group of stocks or ETF’s offered in the U.S. markets.
This combined with the Automatic Funding and Automatic Investment Plans will offer the new and seasoned investor the streamlined trading functionality and fee base once only allowed for larger firms and institutions.
Genesis is a nationally licensed self clearing broker-dealer. SogoInvest.com offers powerful online trading tools including real-time portfolio information, stock quotes and charts, free research and news, stocks & ETF screeners and investor education.
The four senior managing directors of SogoInvest are Tom Dittmer, Founder and Chairman of Refco, the storied commodities brokerage firm, until he retired in 1998. Dittmer is recognized in the Futures Industry Association “Hall of Fame” as “one of the legends of the futures industry.” The other three managing directors are Brad Reifler, Chief Executive Officer of Pali Capital; Paul Chu, financier and one of the original investors in SINA, the biggest Internet portal in China, and Bert Cohen, founder of Telerate Systems, which sold to Dow Jones Corp. in 1990 for $1.2 billion.
“The service and cost savings that SogoInvest provides for the average investor is really a historical inevitability. Stock market brokerage was deregulated in 1975 which brought about the first major reduction in trading costs. Then, two decades later, costs dropped dramatically when trading and research went online in 1996. Costs have drifted lower since then, but now, this low cost per trade site has finally lowered costs to their ultimate bottom -- an idea whose time has come
About SogoInvest
SogoInvest was founded to pioneer the online stock trading industry by offering low cost commission fees of $3 -$1 per trade and bridging the gap between the Wall Street trader and the Main Street consumer. Its powerful technology offers the average investor both the speed, ease of use, and economies of scale that were once only offered to the professional and institutional investor. SogoInvest offers automatic daily investments, dollar cost averaging and real-time trading at the same low price. SogoInvest is an online discount brokerage firm, and a wholly owned subsidiary of Genesis Securities, LLC, a nationally licensed broker dealer, and the only NASDAQ Certified Platinum Partner for professional order entry. In January 2006, Genesis traded over 1.6 billion shares and 4.4 million in trades.
# # #
Post Comment:
Trackback URL: http://www.prweb.com/pingpr.php/U3F1YS1aZXRhLUVtcHQtU3F1YS1JbnNlLVplcm8=
Trackbacks/Comments Received
Post Comment:
Trackback URL: http://www.prweb.com/pingpr.php/U3F1YS1aZXRhLUVtcHQtU3F1YS1JbnNlLVplcm8=
Bookmark -
Del.icio.us |
Digg |
Furl It |
Spurl |
RawSugar |
Simpy |
Shadows |
Blink It |
My Web
|
Share The News
Submit this press release easily to any of these major bookmarking and social media sites.