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Ally Invest vs Sofi Invest 2023

StockBrokers.com

Written by StockBrokers.com

January 23, 2023

Is Ally Invest better than Sofi Invest? After testing 17 of the best online brokers over three months, Ally Invest (84.59%) is better than Sofi Invest (67.99%). For current Ally customers looking to invest in stocks, Ally's universal-accounts experience and easy-to-use website offer a convenient solution. Its website is far stronger than the mobile app.

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Overall RatingAlly InvestSofi Invest
Overall 4/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 2.5/5 Stars
Platforms & Tools 3.5/5 Stars 2.5/5 Stars
Mobile Trading Apps 4/5 Stars 3/5 Stars
Research 4/5 Stars 2/5 Stars
Customer Service 4/5 Stars 4/5 Stars
Education 4/5 Stars 4.5/5 Stars
Ease Of Use 4.5/5 Stars 3.5/5 Stars
Winner check_circle
Review Ally Invest Review Sofi Invest Review
Trading FeesAlly InvestSofi Invest
Minimum Deposit $0.00 $5.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTCCB) $4.95 N/A
Mutual Fund Trade Fee $9.95 $0
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.50 $0.00
Futures (Per Contract) N/A $0.00
Broker Assisted Trade Fee $20 $0
Margin RatesAlly InvestSofi Invest
Margin Rate Under $25,000 10.75% 7.00%
Margin Rate $25,000 to $49,999.99 10.50% 7.00%
Margin Rate $50,000 to $99,999.99 9.75% 7.00%
Margin Rate $100,000 to $249,999.99 8.50% 7.00%
Margin Rate $250,000 to $499,999.99 7.50% 7.00%
Margin Rate $500,000 to $999,999.99 7.00% 7.00%
Margin Rate Above $1,000,000 6.25% 7.00%
Account FeesAlly InvestSofi Invest
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $25.00 $20.00
Account Transfer Out (Partial) $50.00 $75.00
Account Transfer Out (Full) $50.00 $75.00
Options Exercise Fee $0.00 $5.00
Options Assignment Fee $0.00 $5.00
Investment OptionsAlly InvestSofi Invest
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares No Yes
OTCBB / Pink Sheets Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 4 0
Futures Trading No No
Forex Trading Yes No
Crypto Trading No Yes
Crypto Trading - Total Coins 0 30
Mutual Funds (No Load) 13500 0
Mutual Funds (Total) 15000 0
Bonds (US Treasury) Yes No
Bonds (Corporate) Yes No
Bonds (Municipal) Yes No
Advisor Services Yes No
International Countries (Stocks) 0 0
Order TypesAlly InvestSofi Invest
Order Type - Market Yes Yes
Order Type - Limit Yes Yes
Order Type - After Hours Yes Yes
Order Type - Stop Yes No
Order Type - Trailing Stop No No
Order Type - OCO No No
Order Type - OTO No No
Order Type - Broker Assisted Yes No
BeginnersAlly InvestSofi Invest
Education (Stocks) Yes Yes
Education (ETFs) Yes Yes
Education (Options) Yes Yes
Education (Mutual Funds) Yes Yes
Education (Bonds) Yes Yes
Education (Retirement) Yes Yes
Retirement Calculator No No
Investor Dictionary Yes Yes
Paper Trading No No
Videos No No
Webinars No Yes
Webinars (Archived) Yes Yes
Progress Tracking No No
Interactive Learning - Quizzes No No
Stock Trading AppsAlly InvestSofi Invest
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App No No
Trading - Stocks Yes Yes
Trading - After-Hours Yes Yes
Trading - Simple Options Yes No
Trading - Complex Options Yes No
Order Ticket RT Quotes Yes Yes
Order Ticket SRT Quotes No No
Stock App FeaturesAlly InvestSofi Invest
Market Movers (Top Gainers) Yes Yes
Stream Live TV No No
Videos on Demand No No
Stock Alerts No No
Option Chains Viewable Yes No
Watch List (Real-time) Yes Yes
Watch List (Streaming) No No
Watch Lists - Create & Manage Yes No
Watch Lists - Column Customization No No
Watch Lists - Total Fields 21 3
Stock App ChartingAlly InvestSofi Invest
Charting - After-Hours No No
Charting - Can Turn Horizontally Yes No
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 17 0
Charting - Study Customizations No No
Charting - Stock Comparisons Yes No
Trading PlatformsAlly InvestSofi Invest
Active Trading Platform N/A N/A
Desktop Trading Platform No No
Desktop Platform (Mac) No No
Web Trading Platform Yes Yes
Paper Trading No No
Trade Journal No No
Watch Lists - Total Fields 21 3
Stock Chart FeaturesAlly InvestSofi Invest
Charting - Adjust Trades on Chart No No
Charting - Indicators / Studies 117 0
Charting - Drawing Tools 36 0
Charting - Notes Yes No
Charting - Index Overlays Yes No
Charting - Historical Trades No No
Charting - Corporate Events No No
Charting - Custom Date Range No No
Charting - Custom Time Bars No No
Charting - Automated Analysis Yes No
Charting - Save Profiles Yes No
Trade Ideas - Technical Analysis Yes No
Charting - Study Customizations 5 0
Charting - Custom Studies No No
Day TradingAlly InvestSofi Invest
Streaming Time & Sales No No
Streaming TV No No
Direct Market Routing - Stocks No No
Ladder Trading No No
Trade Hot Keys No No
Level 2 Quotes - Stocks No No
Trade Ideas - Backtesting No No
Trade Ideas - Backtesting Adv No No
Short Locator No No
Order Liquidity Rebates No No
Research OverviewAlly InvestSofi Invest
Research - Stocks Yes No
Research - ETFs Yes No
Research - Mutual Funds Yes No
Research - Pink Sheets / OTCBB Yes No
Research - Bonds No No
Screener - Stocks No No
Screener - ETFs Yes No
Screener - Mutual Funds No No
Screener - Bonds Yes No
Misc - Portfolio Allocation No Yes
Stock ResearchAlly InvestSofi Invest
Stock Research - PDF Reports 2 0
Stock Research - Earnings Yes No
Stock Research - Insiders Yes No
Stock Research - Social Yes No
Stock Research - News Yes Yes
Stock Research - ESG No No
Stock Research - SEC Filings Yes No
ETF ResearchAlly InvestSofi Invest
ETFs - Strategy Overview Yes Yes
ETF Fund Facts - Inception Date Yes No
ETF Fund Facts - Expense Ratio Yes Yes
ETF Fund Facts - Net Assets Yes No
ETF Fund Facts - Total Holdings Yes No
ETFs - Top 10 Holdings Yes Yes
ETFs - Sector Exposure No No
ETFs - Risk Analysis Yes No
ETFs - Ratings Yes No
ETFs - Morningstar StyleMap No No
ETFs - PDF Reports Yes No
Mutual Fund ResearchAlly InvestSofi Invest
Mutual Funds - Strategy Overview Yes No
Mutual Funds - Performance Chart Yes No
Mutual Funds - Performance Analysis Yes No
Mutual Funds - Prospectus No No
Mutual Funds - 3rd Party Ratings Yes No
Mutual Funds - Fees Breakdown Yes No
Mutual Funds - Top 10 Holdings Yes No
Mutual Funds - Asset Allocation No No
Mutual Funds - Sector Allocation Yes No
Mutual Funds - Country Allocation No No
Mutual Funds - StyleMap No No
Options TradingAlly InvestSofi Invest
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes No
Option Chains - Streaming Yes No
Option Chains - Total Columns 8 0
Option Chains - Greeks 1 0
Option Chains - Quick Analysis Yes No
Option Analysis - P&L Charts Yes No
Option Probability Analysis Yes No
Option Probability Analysis Adv No No
Option Positions - Greeks Yes No
Option Positions - Greeks Streaming No No
Option Positions - Adv Analysis Yes No
Option Positions - Rolling Yes No
Option Positions - Grouping Yes No
BankingAlly InvestSofi Invest
Bank (Member FDIC) Yes Yes
Checking Accounts Yes Yes
Savings Accounts Yes Yes
Credit Cards No Yes
Debit Cards Yes Yes
Mortgage Loans Yes Yes
Customer ServiceAlly InvestSofi Invest
Phone Support (Prospect Customers) Yes Yes
Phone Support (Current Customers) Yes Yes
Email Support Yes No
Live Chat (Prospect Customers) Yes Yes
Live Chat (Current Customers) Yes Yes
24/7 Support Yes No
OverallAlly InvestSofi Invest
Overall 4/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 2.5/5 Stars
Platforms & Tools 3.5/5 Stars 2.5/5 Stars
Mobile Trading Apps 4/5 Stars 3/5 Stars
Research 4/5 Stars 2/5 Stars
Education 4/5 Stars 4.5/5 Stars
Ease Of Use 4.5/5 Stars 3.5/5 Stars
Winner check_circle
Review Ally Invest Review Sofi Invest Review
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Ally Invest vs Sofi Invest Comparison

Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare Ally Invest vs Sofi Invest.

Is Ally Invest or Sofi Invest better for beginners?

Ally Invest offers more comprehensive new investor education for beginner investors than Sofi Invest. Both Ally Invest and Sofi Invest offer Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), neither have Paper Trading and Videos.

What about Ally Invest vs Sofi Invest pricing?

Ally Invest and Sofi Invest charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Ally Invest, costing $0.50 per contract versus $0.00 per contract at Sofi Invest. For a complete commissions summary, see our best brokers for free stock trading guide.

Does Ally Invest or Sofi Invest offer a wider range of investment options?

Ally Invest offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds, Forex Trading and Advisor Services, while Sofi Invest offers investors access to Stock Trading, Fractional Shares, Options Trading and OTCBB / Pink Sheets, neither have Futures Trading. Looking at Mutual Funds, Sofi Invest trails Ally Invest in its offering of no transaction fee (NTF) mutual funds, with Ally Invest offering 4000 and Sofi Invest offering 0.

Which trading platform is better: Ally Invest or Sofi Invest?

To compare the trading platforms of Ally Invest and Sofi Invest, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Ally Invest offers a better experience. With research, Ally Invest offers superior market research. Finally, we found Ally Invest to provide better mobile trading apps.

Does either broker offer banking?

Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Checking Accounts, Savings Accounts, Debit Cards and Mortgage Loans are offered by Ally Invest while Sofi Invest offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.

Is Ally Invest good?

For current Ally customers looking to invest in stocks, Ally's universal-accounts experience and easy-to-use website offer a convenient solution. Its website is far stronger than the mobile app.

Is Sofi Invest good?

SoFi Invest offers a wide range of services, including access to cryptocurrencies, IPOs and automated investing. It is relatively easy to use, and gets high marks for its mobile app. However, its lack of research, as well as its lagging education and trading tools, leave it a step behind industry leaders.

Ally Invest vs Sofi Invest Winner

Overall winner: Ally Invest

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