Robinhood 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 Robinhood vs Sofi Invest.
Is Robinhood or Sofi Invest better for beginners?
E*TRADE offers more comprehensive new investor education for beginner investors than Sofi Invest. Robinhood offers investors access to Education (Stocks) and Education (Options), while Sofi Invest offers investors access to Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), neither have Paper Trading and Videos.
What about Robinhood vs Sofi Invest pricing?
Robinhood and Sofi Invest charge the same amount for regular stock trades, $0.00. Robinhood 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 Robinhood or Sofi Invest offer a wider range of investment options?
Robinhood offers investors access to Stock Trading, Fractional Shares and Options Trading, while Sofi Invest offers investors access to Stock Trading, Fractional Shares and OTCBB / Pink Sheets, neither have Mutual Funds, Futures Trading, Forex Trading and Advisor Services. Looking at Mutual Funds, Robinhood and Sofi Invest both provide customers access to 0 no transaction fee (NTF) mutual funds.
Which trading platform is better: Robinhood or Sofi Invest?
To compare the trading platforms of Robinhood 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. Debit Cards are offered by Robinhood while Sofi Invest offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Is Robinhood good?
Robinhood is very easy to use; however, now that all online brokers offer $0 stock and ETF trades, Robinhood's lack of trading tools and research leaves it a step behind the competition.
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.
Robinhood vs Sofi Invest Winner
Overall winner: E*TRADE
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