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E*TRADE vs Sofi Invest 2022

StockBrokers.com

Written by StockBrokers.com

November 02, 2022

Is E*TRADE better than Sofi Invest? 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 RatingE*TRADESofi Invest
Overall5 Stars3.5 Stars
Commissions & Fees4.5 Stars4.5 Stars
Investment Options5 Stars2 Stars
Platforms & Tools4.5 Stars1.5 Stars
Mobile Trading Apps5 Stars3.5 Stars
Research4.5 Stars2 Stars
Customer Service4.5 Stars4 Stars
Education4.5 Stars3 Stars
Ease Of Use5 Stars4 Stars
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ReviewE*TRADE ReviewSofi Invest Review
Trading FeesE*TRADESofi Invest
Minimum Deposit$0.00$5.00
Stock Trades$0.00$0.00
Penny Stock Fees (OTCCB)$6.95N/A
Mutual Fund Trade Fee$19.99$0
Options (Base Fee)$0.00$0.00
Options (Per Contract)$0.65$0.00
Futures (Per Contract)$1.50$0.00
Broker Assisted Trade Fee$25$0
Margin RatesE*TRADESofi Invest
Margin Rate Under $24,999.9911.95%5.25%
Margin Rate $25,000.00 to $49,999.9911.45%5.25%
Margin Rate $50,000.00 to $99,999.9910.95%5.25%
Margin Rate $100,000.00 to $249,999.9910.45%5.25%
Margin Rate $250,000.00 to $499,999.999.95%5.25%
Margin Rate $500,000.00 to $999,999.999.45%5.25%
Margin Rate Above $1,000,000.008.45%5.25%
Account FeesE*TRADESofi Invest
IRA Annual Fee$0.00$0.00
IRA Closure Fee$0.00$20.00
Account Transfer Out (Partial)$25.00$75.00
Account Transfer Out (Full)$75.00$75.00
Options Exercise Fee$0.00N/A
Options Assignment Fee$0.00$0.00
Investment OptionsE*TRADESofi Invest
Stock TradingYesYes
Margin TradingYesYes
Fractional SharesNoYes
OTCBB / Pink SheetsYesYes
Options TradingYesNo
Complex Options Max Legs40
Futures TradingYesNo
Forex TradingNoNo
Crypto TradingNoYes
Crypto Trading - Total Coins030
Mutual Funds (No Load)64860
Mutual Funds (Total)72420
Bonds (US Treasury)YesNo
Bonds (Corporate)YesNo
Bonds (Municipal)YesNo
Advisor ServicesYesNo
International Countries (Stocks)00
Order TypesE*TRADESofi Invest
Order Type - MarketYesYes
Order Type - LimitYesYes
Order Type - After HoursYesYes
Order Type - StopYesNo
Order Type - Trailing StopYesNo
Order Type - OCOYesNo
Order Type - OTOYesNo
Order Type - Broker AssistedYesNo
BeginnersE*TRADESofi Invest
Education (Stocks)YesYes
Education (ETFs)YesYes
Education (Options)YesYes
Education (Mutual Funds)YesYes
Education (Bonds)YesYes
Education (Retirement)YesYes
Retirement CalculatorYesNo
Investor DictionaryYesYes
Paper TradingYesNo
VideosYesNo
WebinarsYesYes
Webinars (Archived)YesYes
Progress TrackingNoNo
Interactive Learning - QuizzesYesNo
Stock Trading AppsE*TRADESofi Invest
iPhone AppYesYes
Android AppYesYes
Apple Watch AppYesNo
Trading - StocksYesYes
Trading - After-HoursYesYes
Trading - Simple OptionsYesNo
Trading - Complex OptionsYesNo
Order Ticket RT QuotesYesYes
Order Ticket SRT QuotesYesNo
Stock App FeaturesE*TRADESofi Invest
Market Movers (Top Gainers)YesYes
Stream Live TVYesNo
Videos on DemandNoNo
Stock AlertsYesNo
Option Chains ViewableYesNo
Watch List (Real-time)YesYes
Watch List (Streaming)YesNo
Watch Lists - Create & ManageYesNo
Watch Lists - Column CustomizationYesNo
Watch Lists - Total Fields953
Stock App ChartingE*TRADESofi Invest
Charting - After-HoursYesNo
Charting - Can Turn HorizontallyYesNo
Charting - Multiple Time FramesYesYes
Charting - Technical Studies100
Charting - Study CustomizationsYesNo
Charting - Stock ComparisonsYesNo
Trading PlatformsE*TRADESofi Invest
Active Trading PlatformPower E*TRADEN/A
Desktop Trading PlatformNoNo
Desktop Platform (Mac)NoNo
Web Trading PlatformYesYes
Paper TradingYesNo
Trade JournalNoNo
Watch Lists - Total Fields953
Stock Chart FeaturesE*TRADESofi Invest
Charting - Adjust Trades on ChartYesNo
Charting - Indicators / Studies1190
Charting - Drawing Tools310
Charting - NotesYesNo
Charting - Index OverlaysYesNo
Charting - Historical TradesYesNo
Charting - Corporate EventsYesNo
Charting - Custom Date RangeYesNo
Charting - Custom Time BarsNoNo
Charting - Automated AnalysisYesNo
Charting - Save ProfilesYesNo
Trade Ideas - Technical AnalysisYesNo
Charting - Study Customizations60
Charting - Custom StudiesNoNo
Day TradingE*TRADESofi Invest
Streaming Time & SalesYesNo
Streaming TVYesNo
Direct Market Routing - StocksYesNo
Ladder TradingNoNo
Trade Hot KeysYesNo
Level 2 Quotes - StocksYesNo
Trade Ideas - BacktestingNoNo
Trade Ideas - Backtesting AdvNoNo
Short LocatorNoNo
Order Liquidity RebatesNoNo
Research OverviewE*TRADESofi Invest
Research - StocksYesNo
Research - ETFsYesNo
Research - Mutual FundsYesNo
Research - Pink Sheets / OTCBBYesNo
Research - BondsYesNo
Screener - StocksYesNo
Screener - ETFsYesNo
Screener - Mutual FundsYesNo
Screener - BondsYesNo
Misc - Portfolio AllocationYesYes
Stock ResearchE*TRADESofi Invest
Stock Research - PDF Reports60
Stock Research - EarningsYesNo
Stock Research - InsidersYesNo
Stock Research - SocialYesNo
Stock Research - NewsYesYes
Stock Research - ESGNoNo
Stock Research - SEC FilingsYesNo
ETF ResearchE*TRADESofi Invest
ETFs - Strategy OverviewYesYes
ETF Fund Facts - Inception DateYesNo
ETF Fund Facts - Expense RatioYesYes
ETF Fund Facts - Net AssetsYesNo
ETF Fund Facts - Total HoldingsYesNo
ETFs - Top 10 HoldingsYesYes
ETFs - Sector ExposureYesNo
ETFs - Risk AnalysisYesNo
ETFs - RatingsYesNo
ETFs - Morningstar StyleMapYesNo
ETFs - PDF ReportsYesNo
Mutual Fund ResearchE*TRADESofi Invest
Mutual Funds - Strategy OverviewYesNo
Mutual Funds - Performance ChartNoNo
Mutual Funds - Performance AnalysisYesNo
Mutual Funds - ProspectusYesNo
Mutual Funds - 3rd Party RatingsYesNo
Mutual Funds - Fees BreakdownYesNo
Mutual Funds - Top 10 HoldingsYesNo
Mutual Funds - Asset AllocationYesNo
Mutual Funds - Sector AllocationYesNo
Mutual Funds - Country AllocationYesNo
Mutual Funds - StyleMapYesNo
Options TradingE*TRADESofi Invest
Option Chains - Basic ViewYesNo
Option Chains - Strategy ViewYesNo
Option Chains - StreamingYesNo
Option Chains - Total Columns310
Option Chains - Greeks50
Option Chains - Quick AnalysisYesNo
Option Analysis - P&L ChartsYesNo
Option Probability AnalysisYesNo
Option Probability Analysis AdvYesNo
Option Positions - GreeksYesNo
Option Positions - Greeks StreamingYesNo
Option Positions - Adv AnalysisYesNo
Option Positions - RollingYesNo
Option Positions - GroupingYesNo
BankingE*TRADESofi Invest
Bank (Member FDIC)YesYes
Checking AccountsYesYes
Savings AccountsYesYes
Credit CardsYesYes
Debit CardsYesYes
Mortgage LoansYesYes
Customer ServiceE*TRADESofi Invest
Phone Support (Prospect Customers)YesYes
Phone Support (Current Customers)YesYes
Email SupportYesNo
Live Chat (Prospect Customers)NoYes
Live Chat (Current Customers)YesYes
24/7 SupportYesNo
OverallE*TRADESofi Invest
Overall5 Stars3.5 Stars
Commissions & Fees4.5 Stars4.5 Stars
Investment Options5 Stars2 Stars
Platforms & Tools4.5 Stars1.5 Stars
Mobile Trading Apps5 Stars3.5 Stars
Research4.5 Stars2 Stars
Education4.5 Stars3 Stars
Ease Of Use5 Stars4 Stars
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E*TRADE vs Sofi Invest 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 E*TRADE vs Sofi Invest.

Is E*TRADE or Sofi Invest better for beginners?

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

What about E*TRADE vs Sofi Invest pricing?

E*TRADE and Sofi Invest charge the same amount for regular stock trades, $0.00. Option contracts are pricier at E*TRADE, 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 E*TRADE or Sofi Invest offer a wider range of investment options?

E*TRADE offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds, Futures Trading and Advisor Services, while Sofi Invest offers investors access to Stock Trading, Fractional Shares and OTCBB / Pink Sheets, neither have Forex Trading. Looking at Mutual Funds, Sofi Invest trails E*TRADE in its offering of no transaction fee (NTF) mutual funds, with E*TRADE offering 4377 and Sofi Invest offering 0.

Which trading platform is better: E*TRADE or Sofi Invest?

To compare the trading platforms of E*TRADE and Sofi Invest, 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 available to customers of E*TRADE and Sofi Invest.

Is E*TRADE good?

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.

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.

E*TRADE vs Sofi Invest Winner

Overall winner: E*TRADE

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