Welcome to Apex Crypto!
- SogoTrade Inc. has collaborated with Apex Crypto to provide you convenient access to cryptocurrency trading.
- There is no charge to open and maintain an Apex Crypto account. The crypto account will be accessed via your existing SogoTrade account, so no new login information is required.
- Only individual non-retirement accounts (no joint, trust, corporate, custodian, IRA, ROTH, rollover IRA) are permitted to trade cryptocurrency at Apex Crypto. Your home address must exist with the approved U.S. states or foreign countries list.
Crypto allowed Countries:
United States United Arab Emirates American Samoa Brazil
China Hong Kong Hungary India Japan New Zealand Saudi Arabia
Senegal Singapore Taiwan South Africa
Crypto allowed States:
Colorado Massachusetts Maryland New Jersey Pennsylvania Texas Rhode Island California West Virginia Louisiana Alaska Arkansas
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District of Columbia Idaho Indiana Kansas Maine Missouri Minnesota Nebraska New Hampshire North Dakota
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Oregon South Carolina Tennessee Utah Wisconsin Arizona Delaware Georgia Illinois Iowa Kentucky Michigan
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Mississippi Montana Nevada Oklahoma South Dakota Virginia Wyoming Ohio Connecticut Washington Florida |
- All cryptocurrency data is real-time and provided to you free of charge.
- Apex Crypto supports Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC). Access to more cryptocurrencies is in the works.
- Crypto trading is available around the clock, 7 days a week. Crypto trading will be unavailable from 5:30pm – 6:10pm ET for routine maintenance and account reconciliation.
- Orders still Pending at 5:30pm ET will be CANCELLED.
- No minimum equity is required to trade crypto. Charge per trade: $1 or 1% of principal, whichever is greater.
- Total new cryptocurrency purchases are limited to $50,000 per day. If a purchase exceeds the $50,000 total, the Buy order will be rejected and a warning will be displayed to place more Buy orders after 9:25pm ET. There is no daily limit to how much total cryptocurrency can be sold.
- Both CASH and MARGIN accounts can trade cryptocurrency. Cryptocurrency is considered non-marginable (similar to penny stocks and options).
- The Pattern Day Trader (PDT) rule & Good Faith rule applicable to stock and options in margin and cash accounts respectively, DO NOT apply to cryptocurrency trades. Trade as often as you like!
- Crypto trades settle T+1. Trades done before 9:25pm ET (approximately) are considered trade date (T).
- Crypto trades are reported to the IRS by the clearing firm via a ‘1099-like’ form early in the year. Please consult your tax professional regarding cryptocurrency and your personal tax consequences.
- If this is your first visit, clicking Trade Now will direct you to a User Agreement. Acknowledge the agreement to submit your Apex Crypto application. You will then have immediate access to the trading platform.
FAQ
What are your service hours?
Where can I find more detail about Apex Crypto, including legal documentation?
Do I need to fund my Apex Crypto account separately from my brokerage account with you?
- No, when authorizing trades with Apex Crypto, you will also provide the necessary authorization to transfer the applicable funding to or from your brokerage account with us. Cash transfers are automatic. You can view the cash journals online in your brokerage account under “Funds/Account Transfer” via “Pending & Historical Transfers”.
Where can I find details about my Apex Crypto account?
- You can find details of your Apex Crypto cryptocurrency transactions and positions by accessing your account via our website and clicking on the “Trade Crypto” button in the action area or under the “Trade” menu pulldown.
Will my cryptocurrency positions be on the same statements as my securities positions?
- No, cryptocurrency positions will be detailed on a separate statement. The statements will be emailed quarterly at this time.
- Cryptocurrency account statements, confirms, and tax forms will be sent out by Apex Crypto separately.
Can I transfer any cryptocurrencies I currently own to my Apex Crypto Account? Can I transfer cryptocurrencies I have at Apex Crypto to another crypto trading platform?
- Apex Crypto does not currently support this functionality.
Can I move my wallet?
- We only offer the ability to buy and sell cryptocurrency at this time. We view cryptocurrency as an investable asset that SogoTrade offers via Apex Crypto to trade and invest in. We do not allow wallets to be moved. This is stance we take with Anti Money Laundering protection in mind.
Do you use a wallet?
- Yes, we do store cryptocurrency in a wallet. Apex Crypto manages the keys to the wallet.