Charles Schwab 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 Charles Schwab vs Sofi Invest.
Is Charles Schwab or Sofi Invest better for beginners?
Charles Schwab offers more comprehensive new investor education for beginner investors than Sofi Invest. Charles Schwab offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Bonds) and Education (Retirement), while Sofi Invest offers investors access to Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement). Neither have Paper Trading. See our guide to Best Paper Trading Platforms for more.
What about Charles Schwab vs Sofi Invest pricing?
Charles Schwab and Sofi Invest charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Charles Schwab, costing $0.65 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 Charles Schwab or Sofi Invest offer a wider range of investment options?
Charles Schwab offers investors access to Stock Trading, Fractional Shares, Options Trading, OTC Stocks, Mutual Funds, Futures Trading and Advisor Services, while Sofi Invest offers investors access to Stock Trading, Fractional Shares, Options Trading and OTC Stocks. Neither have Forex Trading. Looking at Mutual Funds, Sofi Invest trails Charles Schwab in its offering of no transaction fee (NTF) mutual funds, with Charles Schwab offering 7168 and Sofi Invest offering 0.
Which trading platform is better: Charles Schwab or Sofi Invest?
To compare the trading platforms of Charles Schwab and Sofi Invest, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Charles Schwab offers a better experience. With research, Charles Schwab offers superior market research. Finally, we found Charles Schwab 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, Credit Cards and Mortgage Loans are available to customers of Charles Schwab and Sofi Invest.
Is Charles Schwab good?
As the granddaddy of discount brokers, Charles Schwab understands how to deliver value to its customers, providing a comprehensive roster of tools, advice and actionable ideas at reasonable cost.
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.
Charles Schwab vs Sofi Invest Winner
Overall winner: Charles Schwab
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