SogoTrade Adds ETF to Its Get Paid to Trade Program

Rhea-AI Summary

SogoTrade has expanded its "Get Paid to Trade" program, now offering customers $3 rebates for every 1,000 shares of the ETFMG Treatments, Testing and Advancements ETF (ticker GERM) purchased on qualifying limit orders. The initiative, which first launched in June 2020, allows both new and existing customers to benefit from this new tier of rebates. The ETF GERM focuses on biotech companies engaged in treating infectious diseases, emphasizing advancements in research and development.

Positive

• Introduction of $3 rebate for every 1,000 shares of ETF GERM purchased enhances customer value.
• The expanded program targets both new and existing customers, potentially increasing customer base.

Negative

• None.

-  The first ETF to be added to the program is the ETFMG Treatments, Testing and Advancements ETF (ticker GERM)

-  Customers can receive a $3 rebate for every 1000 shares of ETFMG's GERM that they buy on a qualifying open order (non-marketable limit order)

ST. LOUIS, Feb. 1, 2021 /PRNewswire/ -- SogoTrade, a digital brokerage subsidiary of Sogo Financial Group, Inc. ("Sogo"), announced today that it has expanded its innovative "Get Paid to Trade" program, bringing additional benefits to its customers.

In June of 2020, SogoTrade first announced its pilot "Get Paid to Trade" program, where customers not only enjoy $0 commissions, but get paid up to $1 for every 1,000 shares traded on qualifying limit orders.*  Today, SogoTrade announced that investors are now eligible to receive up to 3X that amount—or, $3 for every 1,000 shares traded—on qualifying limit orders for certain exchange-traded funds (ETFs).  The first ETF to be added to the program is the ETFMG Treatments, Testing and Advancements ETF (ticker GERM).  The program is open to existing customers as well as new customers of SogoTrade.  Investors can learn more about the program at SogoTrade.com/GERM.

"Exchange rebates in the past have been largely reserved for high frequency trading firms and institutions," said Jonathan Yao, CEO of SogoTrade. "SogoTrade is leveling the playing field by bringing this revenue sharing opportunity to everyday investors."

Kris Wallace, Executive Vice-President and head of trading at SogoTrade, explained how the program works: "When a customer places a limit order for the GERM ETF, this order type will now generate revenue for SogoTrade customers who participate in the program. Typically, brokerage firms pocket this extra revenue but with 'Get Paid to Trade,' SogoTrade will credit investors for qualified limit orders—up to $3 for every 1,000 shares traded in the GERM ETF."

Since 1986, SogoTrade has offered an array of products, maintained a high level of quick response to customers, and has a renewed commitment to both foreign and domestic customers with revenue sharing opportunities.

For more information, please visit SogoTrade online at www.SogoTrade.com.

[1] "Get Paid to Trade" is a promotion offered exclusively by SogoTrade, Inc.

ABOUT GERM

GERM is an Exchange-Traded Fund (ETF) designed to give exposure to the biotech companies directly engaged in the testing and treatments of infectious diseases. This ETF is focused on advancements with targeted exposure to the forefront of R&D, vaccines, therapies, and testing technologies.

Carefully consider the Fund's investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in the Fund's prospectus, which may be obtained by calling 1-844-ETF-MGRS (1-844-383-6477), or by visiting www.etfmg.com/GERM. Read the prospectus carefully before investing.

Investing involves risk, including loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Narrowly focused investments typically exhibit higher volatility. Treatment Companies and Testing Companies are involved in discovering, developing, and commercializing novel drugs or tests with significant market potential. These companies face challenges including pre-clinical testing and clinical trial stages of development. Clinical trials may be delayed, and certain programs may never advance in the clinic or may be more costly to conduct than anticipated. Such companies may be dependent on their ability to secure significant funding for research, development, and commercialization of therapeutics, vaccines, tests, and other healthcare products or services. If there are delays in obtaining required regulatory and marketing approvals for products, the ability of such companies to generate revenue may be materially impaired. If regulatory approval is obtained, products will still remain subject to regulatory scrutiny with regulatory authorities having the ability to impose significant restrictions on the indicated uses or marketing. Lastly, even if a licensed product is achieved, such companies may encounter difficulties in manufacturing, product release, shelf life, testing, storage, supply chain management, or shipping.

The Fund is a recently organized, non-diversified management investment company with limited operating history.

ETF Managers Group LLC is the investment adviser to the Fund.

The Fund is distributed by ETFMG Financial LLC. ETF Managers Group LLC and ETFMG Financial LLC are wholly owned subsidiaries of Exchange Traded Managers Group LLC (collectively, "ETFMG"). ETFMG is not affiliated with Prime Indexes or SogoTrade, Inc.

ABOUT SOGOTRADE

Financial Group, Inc. is the Delaware holding company of the following subsidiaries: (1) SogoTrade, Inc. – a FINRA licensed, SIPC insured online brokerage firm; (2) SogoTrade Asset Management (MarketRiders, Inc.) – a robo-advisor and SEC registered investment advisor; and (3) Sogo Crypto, LLC – a cryptocurrency trading technology company.

 

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SOURCE SogoTrade

FAQ

What is the ETFMG Treatments, Testing and Advancements ETF (GERM)?

GERM is an Exchange-Traded Fund that gives exposure to biotech companies working on treatments and testing for infectious diseases.

How much rebate can customers get from trading ETF GERM?

Customers can receive a $3 rebate for every 1,000 shares purchased on qualifying limit orders.

When was the expanded rebate program for ETF GERM announced?

The expanded rebate program was announced on February 1, 2021.

Who is eligible for the 'Get Paid to Trade' program for ETF GERM?

Both existing and new customers of SogoTrade are eligible for the program.

Where can I learn more about ETF GERM and the rebate program?

More information can be found at SogoTrade.com/GERM.