Is eToro better than SoFi Invest? After testing 15 of the best online brokers over six months, SoFi Invest (60.31%) is better than eToro (57.7%). 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.
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SoFi Invest vs eToro 2022
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Overall Rating
| Feature | SoFi Invest | eToro |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading Apps | ||
| Research | ||
| Education | ||
| Ease of Use | ||
| SoFi Invest Review | eToro Review | |
| Winner | check_circle |
Trading Fees
| Feature | SoFi Invest | eToro |
| Minimum Deposit | $5.00 | $10.00 |
| Stock Trades | $0.00 | $0.00 |
| ETF Trade Fee | $0.00 | $0.00 |
| Mutual Fund Trade Fee | $0.00 | $0.00 |
| Options (Base Fee) | $0.00 | $0.00 |
| Options (Per Contract) | $0.00 | $0.00 |
| Futures (Per Contract) | $0.00 | $0.00 |
| Broker Assisted Trade Fee | $0.00 | $0.00 |
Margin Rates
| Feature | SoFi Invest | eToro |
| Under $24,999.99 | 0.00% | 0.00% |
| $25,000.00 to $49,999.99 | 0.00% | 0.00% |
| $50,000.00 to $99,999.99 | 0.00% | 0.00% |
| $100,000.00 to $249,999.99 | 0.00% | 0.00% |
| $250,000.00 to $499,999.99 | 0.00% | 0.00% |
| $500,000.00 to $999,999.99 | 0.00% | 0.00% |
| Above $1,000,000.00 | 0.00% | 0.00% |
Account Fees
| Feature | SoFi Invest | eToro |
| IRA Annual Fee | $0.00 | $0.00 |
| IRA Closure Fee | $20.00 | $0.00 |
|
Account Transfer Out (Partial) |
$75.00 | $0.00 |
|
Account Transfer Out (Full) |
$75.00 | $0.00 |
Investment Options
| Feature | SoFi Invest | eToro |
|
Stock Trading |
Yes | No |
|
Fractional Shares |
Yes | Yes |
|
OTCBB / Pink Sheets |
Yes | No |
|
Options Trading |
No | No |
|
Complex Options Max Legs |
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Futures Trading |
No | No |
|
Forex Trading |
No | No |
|
Crypto Trading |
Yes | Yes |
|
Crypto Trading - Total Coins |
30 | 24 |
|
Mutual Funds (No Load) |
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Mutual Funds (Total) |
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Bonds (US Treasury) |
No | No |
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Bonds (Corporate) |
No | No |
|
Bonds (Municipal) |
No | No |
|
Advisor Services |
No | No |
|
International Trading |
No | No |
Order Types
| Feature | SoFi Invest | eToro |
|
Order Type - Market |
Yes | Yes |
|
Order Type - Limit |
Yes | No |
|
Order Type - After-Hours |
No | No |
|
Order Type - Stop |
No | Yes |
|
Order Type - Trailing Stop |
No | Yes |
|
Order Type - OCO |
No | No |
|
Order Type - OTO |
No | No |
|
Order Type - Broker Assisted |
No | No |
Beginners
| Feature | SoFi Invest | eToro |
|
Education (Stocks) |
Yes | No |
|
Education (ETFs) |
Yes | No |
|
Education (Options) |
Yes | No |
|
Education (Mutual Funds) |
Yes | No |
|
Education (Bonds) |
Yes | No |
|
Education (Retirement) |
Yes | No |
|
Retirement Calculator |
No | No |
|
Investor Dictionary |
Yes | No |
|
Paper Trading |
No | Yes |
|
Videos |
No | No |
|
Webinars (Monthly Avg) |
1 | |
|
Webinars (Archived) |
Yes | No |
|
Progress Tracking |
No | No |
|
Interactive Learning - Quizzes |
No | No |
Stock Trading Apps
| Feature | SoFi Invest | eToro |
|
iPhone App |
Yes | Yes |
|
Android App |
Yes | No |
|
Apple Watch App |
No | No |
|
Trading - Stocks |
Yes | Yes |
|
Trading - After-Hours |
No | No |
|
Trading - Simple Options |
No | No |
|
Trading - Complex Options |
No | No |
|
Order Ticket RT Quotes |
Yes | Yes |
|
Order Ticket SRT Quotes |
No | Yes |
Stock App Features
| Feature | SoFi Invest | eToro |
|
Market Movers (Top Gainers) |
Yes | Yes |
|
Stream Live TV |
No | No |
|
Videos on Demand |
No | No |
|
Stock Alerts |
No | Yes |
|
Option Chains Viewable |
No | No |
|
Watch List (Real-time) |
Yes | Yes |
|
Watch List (Streaming) |
No | Yes |
|
Watch Lists - Create & Manage |
No | Yes |
|
Watch Lists - Column Customization |
No | No |
|
Watch List - Column Filtering |
Yes | No |
Stock App Charting
| Feature | SoFi Invest | eToro |
|
Charting - After-Hours |
No | No |
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Charting - Can Turn Horizontally |
No | No |
|
Charting - Multiple Time Frames |
Yes | Yes |
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Charting - Technical Studies |
5 | |
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Charting - Study Customizations |
No | Yes |
|
Charting - Stock Comparisons |
No | No |
Trading Platforms
| Feature | SoFi Invest | eToro |
|
Desktop Trading Platform |
No | No |
|
Web Trading Platform |
Yes | Yes |
|
Paper Trading |
No | Yes |
|
Trade Journal |
No | No |
|
Watch Lists - Total Fields |
3 | 7 |
Stock Chart Features
| Feature | SoFi Invest | eToro |
|
Charting - Adjust Trades on Chart |
No | No |
|
Charting - Indicators / Studies |
46 | |
|
Charting - Drawing Tools |
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Charting - Notes |
No | No |
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Charting - Index Overlays |
No | Yes |
|
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 |
No | No |
|
Charting - Save Profiles |
No | Yes |
|
Trade Ideas - Technical Analysis |
No | No |
|
Charting - Study Customizations |
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Charting - Custom Studies |
No | No |
Day Trading
| Feature | SoFi Invest | eToro |
|
Streaming Time & Sales |
No | Yes |
|
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 |
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Trade Ideas - Backtesting Adv |
No | No |
|
Short Locator |
No | No |
|
Order Liquidity Rebates |
No | No |
Research Overview
| Feature | SoFi Invest | eToro |
|
Research - Stocks |
No | Yes |
|
Research - ETFs |
No | Yes |
|
Research - Mutual Funds |
No | No |
|
Research - Pink Sheets / OTCBB |
No | No |
|
Research - Bonds |
No | No |
|
Screener - Stocks |
No | No |
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Screener - ETFs |
No | No |
|
Screener - Mutual Funds |
No | No |
|
Screener - Options |
No | No |
|
Screener - Bonds |
No | No |
|
Misc - Portfolio Allocation |
Yes | No |
Stock Research
| Feature | SoFi Invest | eToro |
|
Stock Research - PDF Reports |
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Stock Research - Earnings |
No | Yes |
|
Stock Research - Insiders |
No | Yes |
|
Stock Research - SEC Filings |
No | Yes |
|
Stock Research - Social |
No | Yes |
|
Stock Research - Balance Sheet |
No | No |
|
Stock Research - Cash Flows |
No | No |
|
Stock Research - News |
Yes | Yes |
|
Stock Research - ESG |
No | No |
ETF Research
| Feature | SoFi Invest | eToro |
|
ETFs - Strategy Overview |
Yes | Yes |
|
ETF Fund Facts - Inception Date |
No | No |
|
ETF Fund Facts - Expense Ratio |
Yes | No |
|
ETF Fund Facts - Net Assets |
No | No |
|
ETF Fund Facts - Total Holdings |
No | No |
|
ETFs - Top 10 Holdings |
Yes | No |
|
ETFs - Performance Analysis |
No | No |
|
ETFs - Sector Exposure |
No | No |
|
ETFs - Risk Analysis |
No | No |
|
ETFs - Ratings |
No | Yes |
|
ETFs - Morningstar StyleMap |
No | No |
|
ETFs - PDF Reports |
No | No |
Mutual Fund Research
| Feature | SoFi Invest | eToro |
|
Mutual Funds - Strategy Overview |
No | No |
|
Mutual Funds - Performance Chart |
No | No |
|
Mutual Funds - Performance Analysis |
No | No |
|
Mutual Funds - Prospectus |
No | No |
|
Mutual Funds - PDF Reports |
No | No |
|
Mutual Funds - Fees Breakdown |
No | No |
|
Mutual Funds - Top 10 Holdings |
No | No |
|
Mutual Funds - Asset Allocation |
No | No |
|
Mutual Funds - Sector Allocation |
No | No |
|
Mutual Funds - Country Allocation |
No | No |
|
Mutual Funds - StyleMap |
No | No |
|
Mutual Funds - 3rd Party Ratings |
No | No |
Options Trading
| Feature | SoFi Invest | eToro |
|
Option Chains - Basic View |
No | No |
|
Option Chains - Strategy View |
No | No |
|
Option Chains - Streaming |
No | No |
|
Option Chains - Total Columns |
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Option Chains - Greeks |
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Option Positions - Greeks Streaming |
No | No |
|
Option Chains - Quick Analysis |
No | No |
|
Option Analysis - P&L Charts |
No | No |
|
Option Probability Analysis |
No | No |
|
Option Probability Analysis Adv |
No | No |
|
Option Positions - Greeks |
No | No |
|
Option Positions - Adv Analysis |
No | No |
|
Option Positions - Rolling |
No | No |
|
Option Positions - Grouping |
No | No |
Banking
| Feature | SoFi Invest | eToro |
|
Bank (Member FDIC) |
No | No |
|
Checking Accounts |
No | No |
|
Savings Accounts |
No | No |
|
Credit Cards |
Yes | No |
|
Debit Cards |
Yes | No |
|
Mortgage Loans |
Yes | No |
Customer Service
| Feature | SoFi Invest | eToro |
|
Phone Support (Prospect Customers) |
Yes | No |
|
Phone Support (Current Customers) |
Yes | No |
|
Email Support |
No | No |
|
Live Chat (Prospect Customers) |
Yes | No |
|
Live Chat (Current Customers) |
Yes | No |
|
24/7 Support |
No | No |
Overall
| Feature | SoFi Invest | eToro |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading Apps | ||
| Research | ||
| Education | ||
| Ease of Use | ||
| SoFi Invest Review | eToro Review | |
| Winner | check_circle |
Comparing brokers side by side is no easy task. For our 2022 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare eToro vs SoFi Invest.
Is eToro or SoFi Invest better for beginners?
SoFi Invest is better for beginner investors than eToro. SoFi Invest offers investors access to Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement).
What about eToro vs SoFi Invest pricing?
eToro and SoFi Invest charge the same amount for regular stock trades, $0. With options, the base fee is $0 for both eToro and SoFi Invest. Option contracts run $0 a piece at both brokerages. For a complete commissions summary, see our best discount brokers guide.
Does eToro or SoFi Invest offer a wider range of investment options?
SoFi Invest offers a more diverse selection of investment options than eToro. SoFi Invest offers investors access to Stock Trading, Fractional Shares and OTCBB / Pink Sheets. Looking at Mutual Funds, both brokers offer the same number of mutual funds, .
Which trading platform is better: eToro or SoFi Invest?
To compare the trading platforms of both eToro and SoFi Invest, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, SoFi Invest offers a better experience. With research, SoFi Invest offers superior market research. Finally, we found SoFi 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. Debit Cards, Credit Cards and Mortgage Loans are available to clients of SoFi Invest while eToro offers customers none of these.
Overall winner: SoFi Invest
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All pricing data was obtained from a published web site as of 01/10/2022 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.
