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TradeStation vs Sofi Invest 2022

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November 02, 2022

Is TradeStation better than Sofi Invest? After testing 15 of the best online brokers over six months, E*TRADE (92.52%) is better than TradeStation (73.22%). 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 RatingTradeStationSofi InvestE*TRADE
Overall4 Stars3.5 Stars5 Stars
Commissions & Fees4.5 Stars4.5 Stars4.5 Stars
Investment Options4.5 Stars2 Stars5 Stars
Platforms & Tools4.5 Stars1.5 Stars4.5 Stars
Mobile Trading Apps4.5 Stars3.5 Stars5 Stars
Research2 Stars2 Stars4.5 Stars
Customer Service2 Stars4 Stars4.5 Stars
Education3.5 Stars3 Stars4.5 Stars
Ease Of Use4.5 Stars4 Stars5 Stars
ReviewTradeStation ReviewSofi Invest ReviewE*TRADE Review
Trading FeesTradeStationSofi InvestE*TRADE
Minimum Deposit$0.00$5.00$0.00
Stock Trades$0.00$0.00$0.00
Penny Stock Fees (OTCCB)$0.00N/A$6.95
Mutual Fund Trade Fee$14.95$0$19.99
Options (Base Fee)$0.00$0.00$0.00
Options (Per Contract)$0.60$0.00$0.65
Futures (Per Contract)$1.50$0.00$1.50
Broker Assisted Trade Fee$0$0$25
Margin RatesTradeStationSofi InvestE*TRADE
Margin Rate Under $24,999.9911.00%5.25%11.95%
Margin Rate $25,000.00 to $49,999.9911.00%5.25%11.45%
Margin Rate $50,000.00 to $99,999.9910.00%5.25%10.95%
Margin Rate $100,000.00 to $249,999.9910.00%5.25%10.45%
Margin Rate $250,000.00 to $499,999.9910.00%5.25%9.95%
Margin Rate $500,000.00 to $999,999.995.50%5.25%9.45%
Margin Rate Above $1,000,000.005.50%5.25%8.45%
Account FeesTradeStationSofi InvestE*TRADE
IRA Annual Fee$35.00$0.00$0.00
IRA Closure Fee$50.00$20.00$0.00
Account Transfer Out (Partial)$125.00$75.00$25.00
Account Transfer Out (Full)$125.00$75.00$75.00
Options Exercise Fee$14.95N/A$0.00
Options Assignment Fee$5.95$0.00$0.00
Investment OptionsTradeStationSofi InvestE*TRADE
Stock TradingYesYesYes
Margin TradingYesYesYes
Fractional SharesNoYesNo
OTCBB / Pink SheetsYesYesYes
Options TradingYesNoYes
Complex Options Max Legs404
Futures TradingYesNoYes
Forex TradingNoNoNo
Crypto TradingYesYesNo
Crypto Trading - Total Coins11300
Mutual Funds (No Load)80006486
Mutual Funds (Total)400007242
Bonds (US Treasury)YesNoYes
Bonds (Corporate)YesNoYes
Bonds (Municipal)YesNoYes
Advisor ServicesNoNoYes
International Countries (Stocks)000
Order TypesTradeStationSofi InvestE*TRADE
Order Type - MarketYesYesYes
Order Type - LimitYesYesYes
Order Type - After HoursYesYesYes
Order Type - StopYesNoYes
Order Type - Trailing StopYesNoYes
Order Type - OCOYesNoYes
Order Type - OTOYesNoYes
Order Type - Broker AssistedYesNoYes
BeginnersTradeStationSofi InvestE*TRADE
Education (Stocks)YesYesYes
Education (ETFs)NoYesYes
Education (Options)YesYesYes
Education (Mutual Funds)NoYesYes
Education (Bonds)NoYesYes
Education (Retirement)NoYesYes
Retirement CalculatorNoNoYes
Investor DictionaryNoYesYes
Paper TradingYesNoYes
Webinars (Archived)NoYesYes
Progress TrackingNoNoNo
Interactive Learning - QuizzesNoNoYes
Stock Trading AppsTradeStationSofi InvestE*TRADE
iPhone AppYesYesYes
Android AppYesYesYes
Apple Watch AppYesNoYes
Trading - StocksYesYesYes
Trading - After-HoursYesYesYes
Trading - Simple OptionsYesNoYes
Trading - Complex OptionsYesNoYes
Order Ticket RT QuotesYesYesYes
Order Ticket SRT QuotesYesNoYes
Stock App FeaturesTradeStationSofi InvestE*TRADE
Market Movers (Top Gainers)YesYesYes
Stream Live TVNoNoYes
Videos on DemandNoNoNo
Stock AlertsYesNoYes
Option Chains ViewableYesNoYes
Watch List (Real-time)YesYesYes
Watch List (Streaming)YesNoYes
Watch Lists - Create & ManageYesNoYes
Watch Lists - Column CustomizationYesNoYes
Watch Lists - Total Fields335395
Stock App ChartingTradeStationSofi InvestE*TRADE
Charting - After-HoursYesNoYes
Charting - Can Turn HorizontallyYesNoYes
Charting - Multiple Time FramesYesYesYes
Charting - Technical Studies45010
Charting - Study CustomizationsYesNoYes
Charting - Stock ComparisonsNoNoYes
Trading PlatformsTradeStationSofi InvestE*TRADE
Active Trading PlatformTradeStation 10N/APower E*TRADE
Desktop Trading PlatformYesNoNo
Desktop Platform (Mac)NoNoNo
Web Trading PlatformYesYesYes
Paper TradingYesNoYes
Trade JournalNoNoNo
Watch Lists - Total Fields335395
Stock Chart FeaturesTradeStationSofi InvestE*TRADE
Charting - Adjust Trades on ChartYesNoYes
Charting - Indicators / Studies2900119
Charting - Drawing Tools23031
Charting - NotesYesNoYes
Charting - Index OverlaysYesNoYes
Charting - Historical TradesYesNoYes
Charting - Corporate EventsYesNoYes
Charting - Custom Date RangeYesNoYes
Charting - Custom Time BarsYesNoNo
Charting - Automated AnalysisYesNoYes
Charting - Save ProfilesYesNoYes
Trade Ideas - Technical AnalysisYesNoYes
Charting - Study Customizations1206
Charting - Custom StudiesYesNoNo
Day TradingTradeStationSofi InvestE*TRADE
Streaming Time & SalesYesNoYes
Streaming TVNoNoYes
Direct Market Routing - StocksYesNoYes
Ladder TradingYesNoNo
Trade Hot KeysYesNoYes
Level 2 Quotes - StocksYesNoYes
Trade Ideas - BacktestingYesNoNo
Trade Ideas - Backtesting AdvYesNoNo
Short LocatorYesNoNo
Order Liquidity RebatesYesNoNo
Research OverviewTradeStationSofi InvestE*TRADE
Research - StocksYesNoYes
Research - ETFsYesNoYes
Research - Mutual FundsNoNoYes
Research - Pink Sheets / OTCBBYesNoYes
Research - BondsNoNoYes
Screener - StocksYesNoYes
Screener - ETFsNoNoYes
Screener - Mutual FundsNoNoYes
Screener - BondsNoNoYes
Misc - Portfolio AllocationYesYesYes
Stock ResearchTradeStationSofi InvestE*TRADE
Stock Research - PDF Reports006
Stock Research - EarningsNoNoYes
Stock Research - InsidersNoNoYes
Stock Research - SocialNoNoYes
Stock Research - NewsYesYesYes
Stock Research - ESGNoNoNo
Stock Research - SEC FilingsNoNoYes
ETF ResearchTradeStationSofi InvestE*TRADE
ETFs - Strategy OverviewNoYesYes
ETF Fund Facts - Inception DateNoNoYes
ETF Fund Facts - Expense RatioNoYesYes
ETF Fund Facts - Net AssetsNoNoYes
ETF Fund Facts - Total HoldingsNoNoYes
ETFs - Top 10 HoldingsNoYesYes
ETFs - Sector ExposureNoNoYes
ETFs - Risk AnalysisNoNoYes
ETFs - RatingsNoNoYes
ETFs - Morningstar StyleMapNoNoYes
ETFs - PDF ReportsNoNoYes
Mutual Fund ResearchTradeStationSofi InvestE*TRADE
Mutual Funds - Strategy OverviewNoNoYes
Mutual Funds - Performance ChartNoNoNo
Mutual Funds - Performance AnalysisNoNoYes
Mutual Funds - ProspectusNoNoYes
Mutual Funds - 3rd Party RatingsNoNoYes
Mutual Funds - Fees BreakdownNoNoYes
Mutual Funds - Top 10 HoldingsNoNoYes
Mutual Funds - Asset AllocationNoNoYes
Mutual Funds - Sector AllocationNoNoYes
Mutual Funds - Country AllocationNoNoYes
Mutual Funds - StyleMapNoNoYes
Options TradingTradeStationSofi InvestE*TRADE
Option Chains - Basic ViewYesNoYes
Option Chains - Strategy ViewYesNoYes
Option Chains - StreamingYesNoYes
Option Chains - Total Columns32031
Option Chains - Greeks505
Option Chains - Quick AnalysisYesNoYes
Option Analysis - P&L ChartsYesNoYes
Option Probability AnalysisYesNoYes
Option Probability Analysis AdvYesNoYes
Option Positions - GreeksYesNoYes
Option Positions - Greeks StreamingYesNoYes
Option Positions - Adv AnalysisYesNoYes
Option Positions - RollingYesNoYes
Option Positions - GroupingYesNoYes
BankingTradeStationSofi InvestE*TRADE
Bank (Member FDIC)NoYesYes
Checking AccountsNoYesYes
Savings AccountsNoYesYes
Credit CardsNoYesYes
Debit CardsNoYesYes
Mortgage LoansNoYesYes
Customer ServiceTradeStationSofi InvestE*TRADE
Phone Support (Prospect Customers)YesYesYes
Phone Support (Current Customers)NoYesYes
Email SupportYesNoYes
Live Chat (Prospect Customers)YesYesNo
Live Chat (Current Customers)YesYesYes
24/7 SupportNoNoYes
OverallTradeStationSofi InvestE*TRADE
Overall4 Stars3.5 Stars5 Stars
Commissions & Fees4.5 Stars4.5 Stars4.5 Stars
Investment Options4.5 Stars2 Stars5 Stars
Platforms & Tools4.5 Stars1.5 Stars4.5 Stars
Mobile Trading Apps4.5 Stars3.5 Stars5 Stars
Research2 Stars2 Stars4.5 Stars
Education3.5 Stars3 Stars4.5 Stars
Ease Of Use4.5 Stars4 Stars5 Stars
ReviewTradeStation ReviewSofi Invest ReviewE*TRADE Review
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  • check_box_outline_blankcheck_boxE*TRADE
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  • check_box_outline_blankcheck_boxMerrill Edge
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TradeStation 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 TradeStation vs Sofi Invest.

Is TradeStation or Sofi Invest better for beginners?

E*TRADE offers more comprehensive new investor education for beginner investors than TradeStation. TradeStation offers investors access to Paper Trading, Videos, 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).

What about TradeStation vs Sofi Invest pricing?

TradeStation and Sofi Invest charge the same amount for regular stock trades, $0.00. Option contracts are pricier at TradeStation, costing $0.60 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 TradeStation or Sofi Invest offer a wider range of investment options?

TradeStation offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds and Futures Trading, while Sofi Invest offers investors access to Stock Trading, Fractional Shares and OTCBB / Pink Sheets, neither have Forex Trading and Advisor Services. Looking at Mutual Funds, TradeStation and Sofi Invest both provide customers access to 0 no transaction fee (NTF) mutual funds.

Which trading platform is better: TradeStation or Sofi Invest?

To compare the trading platforms of TradeStation and Sofi Invest, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, TradeStation 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. neither of these are offered by TradeStation while Sofi Invest offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.

Is TradeStation good?

As a trading technology leader, TradeStation supports casual traders through its web-based platform and active traders through its award-winning desktop platform, all with $0 stock and ETF trades.

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.

TradeStation vs Sofi Invest Winner

Overall winner: E*TRADE

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