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TradeStation vs SoFi Invest 2022

Is SoFi Invest better than TradeStation? After testing 15 of the best online brokers over six months, TradeStation (73.22%) is better than SoFi Invest (60.31%). 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.


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Overall Rating

Feature TradeStation SoFi Invest
Overall 4 3.5
Commissions & Fees 4.5 4.5
Offering of Investments 4.5 2
Platforms & Tools 4.5 1.5
Mobile Trading Apps 4.5 3.5
Research 2 2
Education 3.5 3
Ease of Use 4.5 4
TradeStation Review SoFi Invest Review
Winner check_circle

Trading Fees

Feature TradeStation SoFi Invest
Minimum Deposit $0.00 $5.00
Stock Trades $0.00 $0.00
ETF Trade Fee $0.00 $0.00
Mutual Fund Trade Fee $14.95 $0.00
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.60 $0.00
Futures (Per Contract) $1.50 $0.00
Broker Assisted Trade Fee $0.00 $0.00

Margin Rates

Feature TradeStation SoFi Invest
Under $24,999.99 9.50% 0.00%
$25,000.00 to $49,999.99 9.50% 0.00%
$50,000.00 to $99,999.99 8.75% 0.00%
$100,000.00 to $249,999.99 8.75% 0.00%
$250,000.00 to $499,999.99 8.75% 0.00%
$500,000.00 to $999,999.99 5.50% 0.00%
Above $1,000,000.00 5.50% 0.00%

Account Fees

Feature TradeStation SoFi Invest
IRA Annual Fee $35.00 $0.00
IRA Closure Fee $50.00 $20.00
Account Transfer Out (Partial)
$125.00 $75.00
Account Transfer Out (Full)
$125.00 $75.00

Investment Options

Feature TradeStation SoFi Invest
Stock Trading
Yes Yes
Fractional Shares
No Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes No
Complex Options Max Legs
4
Futures Trading
Yes No
Forex Trading
No No
Crypto Trading
Yes Yes
Crypto Trading - Total Coins
4 30
Mutual Funds (No Load)
887
Mutual Funds (Total)
4357
Bonds (US Treasury)
Yes No
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Advisor Services
No No
International Trading
No No

Order Types

Feature TradeStation SoFi Invest
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - After-Hours
Yes No
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

Beginners

Feature TradeStation SoFi Invest
Education (Stocks)
Yes Yes
Education (ETFs)
No Yes
Education (Options)
Yes Yes
Education (Mutual Funds)
No Yes
Education (Bonds)
No Yes
Education (Retirement)
No Yes
Retirement Calculator
No No
Investor Dictionary
No Yes
Paper Trading
Yes No
Videos
Yes No
Webinars (Monthly Avg)
10 1
Webinars (Archived)
No Yes
Progress Tracking
No No
Interactive Learning - Quizzes
No No

Stock Trading Apps

Feature TradeStation SoFi Invest
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
No No
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes No
Trading - Simple Options
Yes No
Trading - Complex Options
Yes No
Order Ticket RT Quotes
Yes Yes
Order Ticket SRT Quotes
Yes No

Stock App Features

Feature TradeStation SoFi Invest
Market Movers (Top Gainers)
Yes Yes
Stream Live TV
No 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 List - Column Filtering
Yes Yes

Stock App Charting

Feature TradeStation SoFi Invest
Charting - After-Hours
Yes No
Charting - Can Turn Horizontally
Yes No
Charting - Multiple Time Frames
Yes Yes
Charting - Technical Studies
45
Charting - Study Customizations
Yes No
Charting - Stock Comparisons
No No

Trading Platforms

Feature TradeStation SoFi Invest
Desktop Trading Platform
Yes No
Web Trading Platform
Yes Yes
Paper Trading
Yes No
Trade Journal
No No
Watch Lists - Total Fields
335 3

Stock Chart Features

Feature TradeStation SoFi Invest
Charting - Adjust Trades on Chart
Yes No
Charting - Indicators / Studies
290
Charting - Drawing Tools
23
Charting - Notes
Yes No
Charting - Index Overlays
Yes No
Charting - Historical Trades
Yes No
Charting - Corporate Events
No No
Charting - Custom Date Range
Yes No
Charting - Custom Time Bars
Yes No
Charting - Automated Analysis
No No
Charting - Save Profiles
Yes No
Trade Ideas - Technical Analysis
Yes No
Charting - Study Customizations
12
Charting - Custom Studies
Yes No

Day Trading

Feature TradeStation SoFi Invest
Streaming Time & Sales
Yes No
Streaming TV
No No
Direct Market Routing - Stocks
Yes No
Ladder Trading
Yes No
Trade Hot Keys
Yes No
Level 2 Quotes - Stocks
Yes No
Trade Ideas - Backtesting
Yes No
Trade Ideas - Backtesting Adv
Yes No
Short Locator
Yes No
Order Liquidity Rebates
Yes No

Research Overview

Feature TradeStation SoFi Invest
Research - Stocks
Yes No
Research - ETFs
Yes No
Research - Mutual Funds
No No
Research - Pink Sheets / OTCBB
Yes No
Research - Bonds
No No
Screener - Stocks
Yes No
Screener - ETFs
No No
Screener - Mutual Funds
No No
Screener - Options
Yes No
Screener - Bonds
No No
Misc - Portfolio Allocation
No Yes

Stock Research

Feature TradeStation SoFi Invest
Stock Research - PDF Reports
0
Stock Research - Earnings
No No
Stock Research - Insiders
No No
Stock Research - SEC Filings
No No
Stock Research - Social
No No
Stock Research - Balance Sheet
No No
Stock Research - Cash Flows
No No
Stock Research - News
Yes Yes
Stock Research - ESG
No No

ETF Research

Feature TradeStation SoFi Invest
ETFs - Strategy Overview
No Yes
ETF Fund Facts - Inception Date
No No
ETF Fund Facts - Expense Ratio
No Yes
ETF Fund Facts - Net Assets
No No
ETF Fund Facts - Total Holdings
No No
ETFs - Top 10 Holdings
No Yes
ETFs - Performance Analysis
No No
ETFs - Sector Exposure
No No
ETFs - Risk Analysis
No No
ETFs - Ratings
No No
ETFs - Morningstar StyleMap
No No
ETFs - PDF Reports
No No

Mutual Fund Research

Feature TradeStation SoFi Invest
Mutual Funds - Strategy Overview
No No
Mutual Funds - Performance Chart
No No
Mutual Funds - Performance Analysis
No No
Mutual Funds - Prospectus
No No
Mutual Funds - PDF Reports
No No
Mutual Funds - Fees Breakdown
No No
Mutual Funds - Top 10 Holdings
No No
Mutual Funds - Asset Allocation
No No
Mutual Funds - Sector Allocation
No No
Mutual Funds - Country Allocation
No No
Mutual Funds - StyleMap
No No
Mutual Funds - 3rd Party Ratings
No No

Options Trading

Feature TradeStation SoFi Invest
Option Chains - Basic View
Yes No
Option Chains - Strategy View
Yes No
Option Chains - Streaming
Yes No
Option Chains - Total Columns
32
Option Chains - Greeks
5
Option Positions - Greeks Streaming
Yes No
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 - Adv Analysis
Yes No
Option Positions - Rolling
Yes No
Option Positions - Grouping
Yes No

Banking

Feature TradeStation SoFi Invest
Bank (Member FDIC)
No No
Checking Accounts
No No
Savings Accounts
No No
Credit Cards
No Yes
Debit Cards
No Yes
Mortgage Loans
No Yes

Customer Service

Feature TradeStation SoFi Invest
Phone Support (Prospect Customers)
No Yes
Phone Support (Current Customers)
No Yes
Email Support
Yes No
Live Chat (Prospect Customers)
No Yes
Live Chat (Current Customers)
Yes Yes
24/7 Support
No No

Overall

Feature TradeStation SoFi Invest
Overall 4 3.5
Commissions & Fees 4.5 4.5
Offering of Investments 4.5 2
Platforms & Tools 4.5 1.5
Mobile Trading Apps 4.5 3.5
Research 2 2
Education 3.5 3
Ease of Use 4.5 4
TradeStation Review SoFi Invest Review
Winner check_circle

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 SoFi Invest vs TradeStation.

Is SoFi Invest or TradeStation better for beginners?
TradeStation is better for beginner investors than SoFi Invest. TradeStation offers investors access to Paper Trading, Videos, Education (Stocks) and Education (Options).

What about SoFi Invest vs TradeStation pricing?
SoFi Invest and TradeStation have equal fees for trading stocks (equities), $0 per trade. Looking at options, the base fees charged are the same for both brokers, $0. Option contracts are pricier at TradeStation, costing $0.60 versus $0 at SoFi Invest. For a complete commissions summary, see our best discount brokers guide.

Does SoFi Invest or TradeStation offer a wider range of investment options?
TradeStation offers a more diverse selection of investment options than SoFi Invest. TradeStation offers investors access to Stock Trading, OTCBB / Pink Sheets, Options Trading, Mutual Funds and Futures Trading. Looking at Mutual Funds, TradeStation boasts an offering of 4357 mutual funds compared to SoFi Invest's available funds.

Which trading platform is better: SoFi Invest or TradeStation?
To compare the trading platforms of both SoFi Invest and TradeStation, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, TradeStation offers a better experience. With research, TradeStation offers superior market research. Finally, we found TradeStation 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, Credit Cards and Mortgage Loans are offered by SoFi Invest while TradeStation offers none of these.

Overall winner: TradeStation

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All pricing data was obtained from a published web site as of 01/10/2022 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

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