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Sofi Invest vs eToro 2022

StockBrokers.com

Written by StockBrokers.com

November 02, 2022

Is Sofi Invest better than eToro? After testing 15 of the best online brokers over six months, E*TRADE (92.52%) is better than Sofi Invest (60.31%). Founded in 1982 as one of the first online brokerages in the United States, E*TRADE highlights include $0 trades, two excellent mobile apps and the Power E*TRADE platform, which is great for beginners, active trading and options trading.

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Overall RatingSofi InvesteToroE*TRADE
Overall3.5 Stars3 Stars5 Stars
Commissions & Fees4.5 Stars4 Stars4.5 Stars
Investment Options2 Stars2 Stars5 Stars
Platforms & Tools1.5 Stars2.5 Stars4.5 Stars
Mobile Trading Apps3.5 Stars2.5 Stars5 Stars
Research2 Stars2.5 Stars4.5 Stars
Customer Service4 StarsN/A4.5 Stars
Education3 Stars3.5 Stars4.5 Stars
Ease Of Use4 Stars4 Stars5 Stars
Winnercheck_circle
ReviewSofi Invest RevieweToro ReviewE*TRADE Review
Trading FeesSofi InvesteToroE*TRADE
Minimum Deposit$5.00$10.00$0.00
Stock Trades$0.00$0.00$0.00
Penny Stock Fees (OTCCB)N/AN/A$6.95
Mutual Fund Trade Fee$0N/A$19.99
Options (Base Fee)$0.00N/A$0.00
Options (Per Contract)$0.00N/A$0.65
Futures (Per Contract)$0.00N/A$1.50
Broker Assisted Trade Fee$0$0$25
Margin RatesSofi InvesteToroE*TRADE
Margin Rate Under $24,999.995.25%N/A11.95%
Margin Rate $25,000.00 to $49,999.995.25%N/A11.45%
Margin Rate $50,000.00 to $99,999.995.25%N/A10.95%
Margin Rate $100,000.00 to $249,999.995.25%N/A10.45%
Margin Rate $250,000.00 to $499,999.995.25%N/A9.95%
Margin Rate $500,000.00 to $999,999.995.25%N/A9.45%
Margin Rate Above $1,000,000.005.25%N/A8.45%
Account FeesSofi InvesteToroE*TRADE
IRA Annual Fee$0.00N/A$0.00
IRA Closure Fee$20.00N/A$0.00
Account Transfer Out (Partial)$75.00N/A$25.00
Account Transfer Out (Full)$75.00N/A$75.00
Options Exercise FeeN/AN/A$0.00
Options Assignment Fee$0.00N/A$0.00
Investment OptionsSofi InvesteToroE*TRADE
Stock TradingYesYesYes
Margin TradingYesNoYes
Fractional SharesYesYesNo
OTCBB / Pink SheetsYesNoYes
Options TradingNoNoYes
Complex Options Max Legs004
Futures TradingNoNoYes
Forex TradingNoNoNo
Crypto TradingYesYesNo
Crypto Trading - Total Coins30260
Mutual Funds (No Load)006486
Mutual Funds (Total)007242
Bonds (US Treasury)NoNoYes
Bonds (Corporate)NoNoYes
Bonds (Municipal)NoNoYes
Advisor ServicesNoNoYes
International Countries (Stocks)000
Order TypesSofi InvesteToroE*TRADE
Order Type - MarketYesYesYes
Order Type - LimitYesNoYes
Order Type - After HoursYesNoYes
Order Type - StopNoYesYes
Order Type - Trailing StopNoYesYes
Order Type - OCONoNoYes
Order Type - OTONoNoYes
Order Type - Broker AssistedNoNoYes
BeginnersSofi InvesteToroE*TRADE
Education (Stocks)YesYesYes
Education (ETFs)YesNoYes
Education (Options)YesNoYes
Education (Mutual Funds)YesNoYes
Education (Bonds)YesNoYes
Education (Retirement)YesNoYes
Retirement CalculatorNoNoYes
Investor DictionaryYesNoYes
Paper TradingNoYesYes
VideosNoYesYes
WebinarsYesNoYes
Webinars (Archived)YesNoYes
Progress TrackingNoNoNo
Interactive Learning - QuizzesNoNoYes
Stock Trading AppsSofi InvesteToroE*TRADE
iPhone AppYesYesYes
Android AppYesYesYes
Apple Watch AppNoNoYes
Trading - StocksYesYesYes
Trading - After-HoursYesNoYes
Trading - Simple OptionsNoNoYes
Trading - Complex OptionsNoNoYes
Order Ticket RT QuotesYesYesYes
Order Ticket SRT QuotesNoYesYes
Stock App FeaturesSofi InvesteToroE*TRADE
Market Movers (Top Gainers)YesYesYes
Stream Live TVNoNoYes
Videos on DemandNoNoNo
Stock AlertsNoYesYes
Option Chains ViewableNoNoYes
Watch List (Real-time)YesYesYes
Watch List (Streaming)NoYesYes
Watch Lists - Create & ManageNoYesYes
Watch Lists - Column CustomizationNoNoYes
Watch Lists - Total Fields3795
Stock App ChartingSofi InvesteToroE*TRADE
Charting - After-HoursNoNoYes
Charting - Can Turn HorizontallyNoNoYes
Charting - Multiple Time FramesYesYesYes
Charting - Technical Studies0510
Charting - Study CustomizationsNoYesYes
Charting - Stock ComparisonsNoNoYes
Trading PlatformsSofi InvesteToroE*TRADE
Active Trading PlatformN/AN/APower E*TRADE
Desktop Trading PlatformNoNoNo
Desktop Platform (Mac)NoNoNo
Web Trading PlatformYesYesYes
Paper TradingNoYesYes
Trade JournalNoNoNo
Watch Lists - Total Fields3795
Stock Chart FeaturesSofi InvesteToroE*TRADE
Charting - Adjust Trades on ChartNoNoYes
Charting - Indicators / Studies046119
Charting - Drawing Tools01331
Charting - NotesNoYesYes
Charting - Index OverlaysNoYesYes
Charting - Historical TradesNoNoYes
Charting - Corporate EventsNoNoYes
Charting - Custom Date RangeNoNoYes
Charting - Custom Time BarsNoNoNo
Charting - Automated AnalysisNoNoYes
Charting - Save ProfilesNoYesYes
Trade Ideas - Technical AnalysisNoYesYes
Charting - Study Customizations056
Charting - Custom StudiesNoNoNo
Day TradingSofi InvesteToroE*TRADE
Streaming Time & SalesNoYesYes
Streaming TVNoNoYes
Direct Market Routing - StocksNoNoYes
Ladder TradingNoNoNo
Trade Hot KeysNoNoYes
Level 2 Quotes - StocksNoNoYes
Trade Ideas - BacktestingNoNoNo
Trade Ideas - Backtesting AdvNoNoNo
Short LocatorNoNoNo
Order Liquidity RebatesNoNoNo
Research OverviewSofi InvesteToroE*TRADE
Research - StocksNoYesYes
Research - ETFsNoYesYes
Research - Mutual FundsNoNoYes
Research - Pink Sheets / OTCBBNoNoYes
Research - BondsNoNoYes
Screener - StocksNoNoYes
Screener - ETFsNoNoYes
Screener - Mutual FundsNoNoYes
Screener - BondsNoNoYes
Misc - Portfolio AllocationYesNoYes
Stock ResearchSofi InvesteToroE*TRADE
Stock Research - PDF Reports006
Stock Research - EarningsNoYesYes
Stock Research - InsidersNoYesYes
Stock Research - SocialNoYesYes
Stock Research - NewsYesYesYes
Stock Research - ESGNoYesNo
Stock Research - SEC FilingsNoYesYes
ETF ResearchSofi InvesteToroE*TRADE
ETFs - Strategy OverviewYesYesYes
ETF Fund Facts - Inception DateNoNoYes
ETF Fund Facts - Expense RatioYesNoYes
ETF Fund Facts - Net AssetsNoNoYes
ETF Fund Facts - Total HoldingsNoNoYes
ETFs - Top 10 HoldingsYesNoYes
ETFs - Sector ExposureNoNoYes
ETFs - Risk AnalysisNoNoYes
ETFs - RatingsNoYesYes
ETFs - Morningstar StyleMapNoNoYes
ETFs - PDF ReportsNoNoYes
Mutual Fund ResearchSofi InvesteToroE*TRADE
Mutual Funds - Strategy OverviewNoNoYes
Mutual Funds - Performance ChartNoNoNo
Mutual Funds - Performance AnalysisNoNoYes
Mutual Funds - ProspectusNoNoYes
Mutual Funds - 3rd Party RatingsNoNoYes
Mutual Funds - Fees BreakdownNoNoYes
Mutual Funds - Top 10 HoldingsNoNoYes
Mutual Funds - Asset AllocationNoNoYes
Mutual Funds - Sector AllocationNoNoYes
Mutual Funds - Country AllocationNoNoYes
Mutual Funds - StyleMapNoNoYes
Options TradingSofi InvesteToroE*TRADE
Option Chains - Basic ViewNoNoYes
Option Chains - Strategy ViewNoNoYes
Option Chains - StreamingNoNoYes
Option Chains - Total Columns0031
Option Chains - Greeks005
Option Chains - Quick AnalysisNoNoYes
Option Analysis - P&L ChartsNoNoYes
Option Probability AnalysisNoNoYes
Option Probability Analysis AdvNoNoYes
Option Positions - GreeksNoNoYes
Option Positions - Greeks StreamingNoNoYes
Option Positions - Adv AnalysisNoNoYes
Option Positions - RollingNoNoYes
Option Positions - GroupingNoNoYes
BankingSofi InvesteToroE*TRADE
Bank (Member FDIC)YesNoYes
Checking AccountsYesNoYes
Savings AccountsYesNoYes
Credit CardsYesNoYes
Debit CardsYesNoYes
Mortgage LoansYesNoYes
Customer ServiceSofi InvesteToroE*TRADE
Phone Support (Prospect Customers)YesNoYes
Phone Support (Current Customers)YesNoYes
Email SupportNoYesYes
Live Chat (Prospect Customers)YesYesNo
Live Chat (Current Customers)YesYesYes
24/7 SupportNoNoYes
OverallSofi InvesteToroE*TRADE
Overall3.5 Stars3 Stars5 Stars
Commissions & Fees4.5 Stars4 Stars4.5 Stars
Investment Options2 Stars2 Stars5 Stars
Platforms & Tools1.5 Stars2.5 Stars4.5 Stars
Mobile Trading Apps3.5 Stars2.5 Stars5 Stars
Research2 Stars2.5 Stars4.5 Stars
Education3 Stars3.5 Stars4.5 Stars
Ease Of Use4 Stars4 Stars5 Stars
Winnercheck_circle
ReviewSofi Invest RevieweToro ReviewE*TRADE Review
  • check_box_outline_blankcheck_boxAlly Invest
  • check_box_outline_blankcheck_boxCharles Schwab
  • check_box_outline_blankcheck_boxE*TRADE
  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxFidelity
  • check_box_outline_blankcheck_boxFirstrade
  • check_box_outline_blankcheck_boxInteractive Brokers
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  • check_box_outline_blankcheck_boxMerrill Edge
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  • check_box_outline_blankcheck_boxSofi Invest
  • check_box_outline_blankcheck_boxTD Ameritrade
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Sofi Invest vs eToro Comparison

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 Sofi Invest vs eToro.

Is Sofi Invest or eToro better for beginners?

E*TRADE offers more comprehensive new investor education for beginner investors than Sofi Invest. Sofi Invest offers investors access to Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while eToro offers investors access to Paper Trading, Videos and Education (Stocks).

What about Sofi Invest vs eToro pricing?

Sofi Invest and eToro charge the same amount for regular stock trades, $0.00. Sofi Invest and eToro both charge $0.00 per option contract. For a complete commissions summary, see our best brokers for free stock trading guide.

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

Sofi Invest offers investors access to Stock Trading, Fractional Shares and OTCBB / Pink Sheets, while eToro offers investors access to Stock Trading and Fractional Shares, neither have Options Trading, Mutual Funds, Futures Trading, Forex Trading and Advisor Services. Looking at Mutual Funds, Sofi Invest and eToro both provide customers access to 0 no transaction fee (NTF) mutual funds.

Which trading platform is better: Sofi Invest or eToro?

To compare the trading platforms of Sofi Invest and eToro, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, E*TRADE offers a better experience. With research, E*TRADE offers superior market research. Finally, we found E*TRADE 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 offered by Sofi Invest while eToro offers neither of these.

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.

Is eToro good?

eToro bills itself as a social trading platform, and that is exactly what you get. It’s a combination of Twitter and trading that will appeal to those who are most interested in learning how to trade cryptocurrencies or joining a community with crypto as the focus. The scope currently is limited in the U.S., so those looking for more advanced trading or trading a variety of underlyings will want to look elsewhere.

Sofi Invest vs eToro Winner

Overall winner: E*TRADE

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