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E*TRADE vs Sofi Invest 2023

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Written by StockBrokers.com

February 23, 2023

Is E*TRADE better than Sofi Invest? After testing 17 of the best online brokers over three months, E*TRADE (96.39%) is better than Sofi Invest (67.99%). E*TRADE is a top-performing broker whose highlights include $0 trades, two excellent mobile apps and the Power E*TRADE platform. Crypto, however, is not available.

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Overall RatingE*TRADESofi Invest
Overall 5/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 2.5/5 Stars
Platforms & Tools 4.5/5 Stars 2.5/5 Stars
Mobile Trading Apps 5/5 Stars 3/5 Stars
Research 5/5 Stars 2/5 Stars
Customer Service 4.0/5 Stars 4/5 Stars
Education 5/5 Stars 4.5/5 Stars
Ease Of Use 5/5 Stars 3.5/5 Stars
Winner check_circle
Review E*TRADE Review Sofi Invest Review
Trading FeesE*TRADESofi Invest
Minimum Deposit $0.00 $5.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) $6.95 info N/A
Mutual Fund Trade Fee $0.00 $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 $25,000 11.95% 7.75%
Margin Rate $25,000 to $49,999.99 11.45% 7.75%
Margin Rate $50,000 to $99,999.99 10.95% 7.75%
Margin Rate $100,000 to $249,999.99 10.45% 7.75%
Margin Rate $250,000 to $499,999.99 9.95% 7.75%
Margin Rate $500,000 to $999,999.99 9.45% 7.75%
Margin Rate Above $1,000,000 8.45% 7.75%
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 $0.00 $5.00
Options Assignment Fee $0.00 $5.00
Investment OptionsE*TRADESofi Invest
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares No Yes
OTC Stocks Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 4 0
Futures Trading Yes No
Forex Trading No No
Crypto Trading No Yes
Crypto Trading - Total Coins 0 30
Mutual Funds (No Load) 6486 0
Mutual Funds (Total) 7242 0
Bonds (US Treasury) Yes No
Bonds (Corporate) Yes No
Bonds (Municipal) Yes No
Advisor Services Yes No
International Countries (Stocks) 0 0
Order TypesE*TRADESofi Invest
Order Type - Market Yes Yes
Order Type - Limit Yes Yes
Order Type - After Hours Yes Yes
Order Type - Stop Yes No
Order Type - Trailing Stop Yes No
Order Type - OCO Yes No
Order Type - OTO Yes No
Order Type - Broker Assisted Yes No
BeginnersE*TRADESofi Invest
Education (Stocks) Yes Yes
Education (ETFs) Yes Yes
Education (Options) Yes Yes
Education (Mutual Funds) Yes Yes
Education (Bonds) Yes Yes
Education (Retirement) Yes Yes
Retirement Calculator Yes No
Investor Dictionary Yes Yes
Paper Trading Yes No
Videos Yes No
Webinars Yes Yes
Webinars (Archived) Yes Yes
Progress Tracking No No
Interactive Learning - Quizzes Yes No
Stock Trading AppsE*TRADESofi Invest
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes No
Trading - Stocks Yes Yes
Trading - After-Hours Yes Yes
Trading - Simple Options Yes No
Trading - Complex Options Yes No
Order Ticket RT Quotes Yes Yes
Order Ticket SRT Quotes Yes No
Stock App FeaturesE*TRADESofi Invest
Market Movers (Top Gainers) Yes Yes
Stream Live TV Yes 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 Yes No
Watch Lists - Total Fields 95 3
Stock App ChartingE*TRADESofi Invest
Charting - After-Hours Yes No
Charting - Can Turn Horizontally Yes No
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 10 0
Charting - Study Customizations Yes No
Charting - Stock Comparisons Yes No
Trading PlatformsE*TRADESofi Invest
Active Trading Platform Power E*TRADE 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 95 3
Stock Chart FeaturesE*TRADESofi Invest
Charting - Adjust Trades on Chart Yes No
Charting - Indicators / Studies 119 0
Charting - Drawing Tools 31 0
Charting - Notes Yes No
Charting - Index Overlays Yes No
Charting - Historical Trades Yes No
Charting - Corporate Events Yes No
Charting - Custom Date Range Yes No
Charting - Custom Time Bars No No
Charting - Automated Analysis Yes No
Charting - Save Profiles Yes No
Trade Ideas - Technical Analysis Yes No
Charting - Study Customizations 6 0
Charting - Custom Studies No No
Day TradingE*TRADESofi Invest
Streaming Time & Sales Yes No
Streaming TV Yes No
Direct Market Routing - Stocks Yes No
Ladder Trading No No
Trade Hot Keys Yes No
Level 2 Quotes - Stocks Yes info No
Trade Ideas - Backtesting No No
Trade Ideas - Backtesting Adv No No
Short Locator No No
Order Liquidity Rebates No No
Research OverviewE*TRADESofi Invest
Research - Stocks Yes No
Research - ETFs Yes No
Research - Mutual Funds Yes No
Research - Pink Sheets / OTCBB Yes No
Research - Bonds Yes No
Screener - Stocks Yes No
Screener - ETFs Yes No
Screener - Mutual Funds Yes No
Screener - Bonds Yes No
Misc - Portfolio Allocation Yes Yes
Stock ResearchE*TRADESofi Invest
Stock Research - PDF Reports 6 0
Stock Research - Earnings Yes No
Stock Research - Insiders Yes No
Stock Research - Social Yes No
Stock Research - News Yes Yes
Stock Research - ESG No No
Stock Research - SEC Filings Yes No
ETF ResearchE*TRADESofi Invest
ETFs - Strategy Overview Yes Yes
ETF Fund Facts - Inception Date Yes No
ETF Fund Facts - Expense Ratio Yes Yes
ETF Fund Facts - Net Assets Yes No
ETF Fund Facts - Total Holdings Yes No
ETFs - Top 10 Holdings Yes Yes
ETFs - Sector Exposure Yes No
ETFs - Risk Analysis Yes No
ETFs - Ratings Yes No
ETFs - Morningstar StyleMap Yes No
ETFs - PDF Reports Yes No
Mutual Fund ResearchE*TRADESofi Invest
Mutual Funds - Strategy Overview Yes No
Mutual Funds - Performance Chart No No
Mutual Funds - Performance Analysis Yes No
Mutual Funds - Prospectus Yes No
Mutual Funds - 3rd Party Ratings Yes No
Mutual Funds - Fees Breakdown Yes No
Mutual Funds - Top 10 Holdings Yes No
Mutual Funds - Asset Allocation Yes No
Mutual Funds - Sector Allocation Yes No
Mutual Funds - Country Allocation Yes No
Mutual Funds - StyleMap Yes No
Options TradingE*TRADESofi Invest
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes No
Option Chains - Streaming Yes No
Option Chains - Total Columns 31 0
Option Chains - Greeks 5 0
Option Chains - Quick Analysis Yes No
Option Analysis - P&L Charts Yes No
Option Probability Analysis Yes No
Option Probability Analysis Adv Yes No
Option Positions - Greeks Yes No
Option Positions - Greeks Streaming Yes No
Option Positions - Adv Analysis Yes No
Option Positions - Rolling Yes No
Option Positions - Grouping Yes No
BankingE*TRADESofi Invest
Bank (Member FDIC) Yes Yes
Checking Accounts Yes Yes
Savings Accounts Yes Yes
Credit Cards Yes Yes
Debit Cards Yes Yes
Mortgage Loans Yes Yes
Customer ServiceE*TRADESofi Invest
Phone Support (Prospect Customers) Yes Yes
Phone Support (Current Customers) Yes Yes
Email Support Yes No
Live Chat (Prospect Customers) No Yes
Live Chat (Current Customers) Yes Yes
24/7 Support Yes No
OverallE*TRADESofi Invest
Overall 5/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 2.5/5 Stars
Platforms & Tools 4.5/5 Stars 2.5/5 Stars
Mobile Trading Apps 5/5 Stars 3/5 Stars
Research 5/5 Stars 2/5 Stars
Education 5/5 Stars 4.5/5 Stars
Ease Of Use 5/5 Stars 3.5/5 Stars
Winner check_circle
Review E*TRADE Review Sofi Invest Review
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E*TRADE 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 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, 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 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?

E*TRADE is a top-performing broker whose highlights include $0 trades, two excellent mobile apps and the Power E*TRADE platform. Crypto, however, is not available.

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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