TD Ameritrade 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 TD Ameritrade vs Sofi Invest.
Is TD Ameritrade or Sofi Invest better for beginners?
TD Ameritrade offers more comprehensive new investor education for beginner investors than Sofi Invest. TD Ameritrade 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). See our guide to Best Paper Trading Platforms for more.
What about TD Ameritrade vs Sofi Invest pricing?
TD Ameritrade and Sofi Invest charge the same amount for regular stock trades, $0.00. Option contracts are pricier at TD Ameritrade, 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 TD Ameritrade or Sofi Invest offer a wider range of investment options?
TD Ameritrade offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds, Futures Trading, Forex Trading and Advisor Services, while Sofi Invest offers investors access to Stock Trading, Fractional Shares, Options Trading and OTC Stocks. Looking at Mutual Funds, Sofi Invest trails TD Ameritrade in its offering of no transaction fee (NTF) mutual funds, with TD Ameritrade offering 3610 and Sofi Invest offering 0.
Which trading platform is better: TD Ameritrade or Sofi Invest?
To compare the trading platforms of TD Ameritrade and Sofi Invest, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, TD Ameritrade offers a better experience. With research, TD Ameritrade offers superior market research. Finally, we found TD Ameritrade 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, Debit Cards and Credit Cards are offered by TD Ameritrade while Sofi Invest offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Is TD Ameritrade good?
TD Ameritrade delivers $0 trades, fantastic trading platforms, excellent market research, industry-leading education for beginners and reliable customer service. This outstanding all-around experience makes TD Ameritrade one of our top overall brokers in 2023, in which it placed among Best in Class in several categories including options trading and best for beginners.
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.
TD Ameritrade vs Sofi Invest Winner
Overall winner: TD Ameritrade
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