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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