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eToro vs Sofi Invest 2023

StockBrokers.com

Written by StockBrokers.com

April 11, 2023

Is eToro better than Sofi Invest? After testing 17 of the best online brokers over three months, eToro (72.74%) is better than Sofi Invest (67.99%). Though its offerings have some limitations, eToro's approach will appeal to those interested in learning how to trade crypto or joining a crypto-focused community. 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.

Select Brokers

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  • 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
  • check_box_outline_blankcheck_boxJ.P. Morgan Self-Directed Investing
  • check_box_outline_blankcheck_boxMerrill Edge
  • check_box_outline_blankcheck_boxRobinhood
  • check_box_outline_blankcheck_boxSofi Invest
  • check_box_outline_blankcheck_boxtastytrade
  • check_box_outline_blankcheck_boxTD Ameritrade
  • check_box_outline_blankcheck_boxTradeStation
  • check_box_outline_blankcheck_boxTradier
  • check_box_outline_blankcheck_boxVanguard
  • check_box_outline_blankcheck_boxWebull

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× eToro

Deposit $100 and get a $10 bonus!

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× Sofi Invest

$0 stocks, 1.25% for cryptocurrencies

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Overall RatingeToroSofi Invest
Overall 3.5/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 2.5/5 Stars 2.5/5 Stars
Platforms & Tools 3.5/5 Stars 2.5/5 Stars
Mobile Trading Apps 3.5/5 Stars 3/5 Stars
Research 3/5 Stars 2/5 Stars
Customer Service N/A 4/5 Stars
Education 2.5/5 Stars 4.5/5 Stars
Ease Of Use 4/5 Stars 3.5/5 Stars
Winner check_circle
Review eToro Review Sofi Invest Review
Trading FeeseToroSofi Invest
Minimum Deposit $10.00 $5.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) N/A N/A
Mutual Fund Trade Fee N/A $0
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.00 $0.00
Futures (Per Contract) N/A $0.00
Broker Assisted Trade Fee $0 $0
Margin RateseToroSofi Invest
Margin Rate Under $25,000 Varies 8.50%
Margin Rate $25,000 to $49,999.99 Varies 8.50%
Margin Rate $50,000 to $99,999.99 Varies 8.50%
Margin Rate $100,000 to $249,999.99 Varies 8.50%
Margin Rate $250,000 to $499,999.99 Varies 8.50%
Margin Rate $500,000 to $999,999.99 Varies 8.50%
Margin Rate Above $1,000,000 Varies 8.50%
Account FeeseToroSofi Invest
IRA Annual Fee $0.00
IRA Closure Fee $20.00
Account Transfer Out (Partial) $75.00
Account Transfer Out (Full) $75.00
Options Exercise Fee $0.00 $5.00
Options Assignment Fee $0.00 $5.00
Investment OptionseToroSofi Invest
Stock Trading Yes Yes
Margin Trading No Yes
Fractional Shares Yes Yes
OTC Stocks No Yes
Options Trading Yes Yes
Complex Options Max Legs 0 0
Futures Trading No No
Forex Trading No No
Crypto Trading Yes Yes
Crypto Trading - Total Coins 26 30
Mutual Funds (No Load) 0 0
Mutual Funds (Total) 0 0
Bonds (US Treasury) No No
Bonds (Corporate) No No
Bonds (Municipal) No No
Advisor Services No No
International Countries (Stocks) 0 0
Order TypeseToroSofi Invest
Order Type - Market Yes Yes
Order Type - Limit No Yes
Order Type - After Hours No Yes
Order Type - Stop Yes No
Order Type - Trailing Stop Yes No
Order Type - OCO No No
Order Type - OTO No No
Order Type - Broker Assisted No No
BeginnerseToroSofi Invest
Education (Stocks) Yes Yes
Education (ETFs) No Yes
Education (Options) No Yes
Education (Mutual Funds) No Yes
Education (Bonds) No Yes
Education (Retirement) No Yes
Retirement Calculator No No
Investor Dictionary No Yes
Paper Trading Yes No
Videos Yes No
Webinars No Yes
Webinars (Archived) No Yes
Progress Tracking No No
Interactive Learning - Quizzes No No
Stock Trading AppseToroSofi Invest
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App No No
Trading - Stocks Yes Yes
Trading - After-Hours No Yes
Trading - Simple Options Yes No
Trading - Complex Options No No
Order Ticket RT Quotes Yes Yes
Order Ticket SRT Quotes Yes No
SB Gallery - Mobile Apps
Stock App FeatureseToroSofi Invest
Market Movers (Top Gainers) Yes Yes
Stream Live TV No No
Videos on Demand No No
Stock Alerts Yes No
Option Chains Viewable Yes No
Watch List (Real-time) Yes Yes
Watch List (Streaming) Yes No
Watch Lists - Create & Manage Yes No
Watch Lists - Column Customization No No
Watch Lists - Total Fields 7 3
Stock App ChartingeToroSofi Invest
Charting - After-Hours No No
Charting - Can Turn Horizontally No No
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 5 0
Charting - Study Customizations Yes No
Charting - Stock Comparisons No No
Trading PlatformseToroSofi 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 Yes No
Trade Journal No No
Watch Lists - Total Fields 7 3
Stock Chart FeatureseToroSofi Invest
Charting - Adjust Trades on Chart No No
Charting - Indicators / Studies 46 0
Charting - Drawing Tools 13 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 No No
Charting - Save Profiles Yes No
Trade Ideas - Technical Analysis Yes No
Charting - Study Customizations 5 0
Charting - Custom Studies No No
Day TradingeToroSofi Invest
Streaming Time & Sales Yes 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 OvervieweToroSofi Invest
Research - Stocks Yes No
Research - ETFs Yes No
Research - Mutual Funds No No
Research - Pink Sheets / OTCBB No No
Research - Bonds No No
Screener - Stocks No No
Screener - ETFs No No
Screener - Mutual Funds No No
Screener - Bonds No No
Misc - Portfolio Allocation No Yes
Stock ResearcheToroSofi Invest
Stock Research - PDF Reports 0 0
Stock Research - Earnings Yes No
Stock Research - Insiders Yes No
Stock Research - Social Yes No
Stock Research - News Yes Yes
Stock Research - ESG Yes No
Stock Research - SEC Filings Yes No
ETF ResearcheToroSofi Invest
ETFs - Strategy Overview Yes Yes
ETF Fund Facts - Inception Date No No
ETF Fund Facts - Expense Ratio No Yes
ETF Fund Facts - Net Assets No No
ETF Fund Facts - Total Holdings No No
ETFs - Top 10 Holdings No Yes
ETFs - Sector Exposure No No
ETFs - Risk Analysis No No
ETFs - Ratings Yes No
ETFs - Morningstar StyleMap No No
ETFs - PDF Reports No No
Mutual Fund ResearcheToroSofi Invest
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 - 3rd Party Ratings 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
Options TradingeToroSofi Invest
Option Chains - Basic View Yes Yes
Option Chains - Strategy View No No
Option Chains - Streaming No No
Option Chains - Total Columns 0 0
Option Chains - Greeks 4 0
Option Chains - Quick Analysis Yes 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 - Greeks Streaming No No
Option Positions - Adv Analysis No No
Option Positions - Rolling No No
Option Positions - Grouping No No
BankingeToroSofi Invest
Bank (Member FDIC) No Yes
Checking Accounts No Yes
Savings Accounts No Yes
Credit Cards No Yes
Debit Cards No Yes
Mortgage Loans No Yes
Customer ServiceeToroSofi Invest
Phone Support (Prospect Customers) No Yes
Phone Support (Current Customers) No Yes
Email Support Yes No
Live Chat (Prospect Customers) Yes Yes
Live Chat (Current Customers) Yes Yes
24/7 Support No No
OveralleToroSofi Invest
Overall 3.5/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 2.5/5 Stars 2.5/5 Stars
Platforms & Tools 3.5/5 Stars 2.5/5 Stars
Mobile Trading Apps 3.5/5 Stars 3/5 Stars
Research 3/5 Stars 2/5 Stars
Education 2.5/5 Stars 4.5/5 Stars
Ease Of Use 4/5 Stars 3.5/5 Stars
Winner check_circle
Review eToro Review Sofi Invest Review
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eToro 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 eToro vs Sofi Invest.

Is eToro or Sofi Invest better for beginners?

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

What about eToro vs Sofi Invest pricing?

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

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

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

Which trading platform is better: eToro or Sofi Invest?

To compare the trading platforms of eToro and Sofi Invest, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, eToro offers a better experience. With research, eToro offers superior market research. Finally, we found eToro 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. neither of these are offered by eToro while Sofi Invest offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.

Is eToro good?

Though its offerings have some limitations, eToro's approach will appeal to those interested in learning how to trade crypto or joining a crypto-focused community. 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.

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.

eToro vs Sofi Invest Winner

Overall winner: eToro

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Reink Media Group is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.

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