Sogelex / sogelex.com has been flagged by Swiss Financial Market Supervisory Authority for "Other". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I experienced a security concern with my Sogelex / sogelex.com account and reported it immediately. Their response time was inexcusable for a financial platform. It took them four days to acknowledge my report and another week to actually address it.
Pros: Demo account available|Regular platform improvements|Automated trading options
Cons: None so far|Limited ETF selection
I opened an account with Sogelex / sogelex.com for close to eighteen months ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: Regular platform improvements|Risk management tools|Clean UI
Cons: Search feature is basic|Minimum deposit could be lower
If you are reading this considering Sogelex / sogelex.com - run. I wish I had read more negative reviews after seeing their ad online. I thought the positive ones were real. Maybe some are. My experience over for nearly two years has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Portfolio tracking tools|Economic calendar|API access
Cons: Account statements could be more detailed|Research section could be deeper
Sogelex / sogelex.com has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: API access|Customizable dashboard|Regular updates|Clean UI
Cons: Would like more payment methods|Limited demo account features
The hidden fees at Sogelex / sogelex.com are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Multi-device support|Intuitive for beginners
Cons: None so far|Desktop app not available on Linux
Sogelex / sogelex.com advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Stable platform|Copy trading available|Risk management tools
Cons: Some tools only available on higher tiers
After using Sogelex / sogelex.com since last summer, I decided to move my account elsewhere. The platform was unreliable, withdrawals took an unreasonable amount of time, and I could never get a straight answer from customer service. Frustrating experience overall.
Pros: Low minimum deposit|Responsive team
Cons: Slow to add new assets|Limited cryptocurrency options
I had high hopes for Sogelex / sogelex.com from a review site like this one, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Transparent fees|Risk management tools
Cons: Live chat only during business hours
KYC with Sogelex / sogelex.com is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Customizable dashboard|Segregated accounts
Cons: Wait times can be long during peak hours
Several red flags with Sogelex / sogelex.com: (1) They promise unrealistically high returns, (2) They're not registered with Swiss Financial Market Supervisory Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Flagged by Swiss Financial Market Supervisory Authority|Cannot verify credentials