Vanguard 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 Vanguard vs Sofi Invest.
Is Vanguard or Sofi Invest better for beginners?
Sofi Invest offers more comprehensive new investor education for beginner investors than Vanguard. Vanguard offers investors access to Videos, Education (Stocks) and Education (Retirement), 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. See our guide to Best Paper Trading Platforms for more.
What about Vanguard vs Sofi Invest pricing?
Vanguard and Sofi Invest charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Vanguard, costing $1.00 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 Vanguard or Sofi Invest offer a wider range of investment options?
Vanguard offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds and Advisor Services, while Sofi Invest offers investors access to Stock Trading, Fractional Shares, Options Trading and OTC Stocks. Neither have Futures Trading and Forex Trading. Looking at Mutual Funds, Vanguard and Sofi Invest both provide customers access to no transaction fee (NTF) mutual funds.
Which trading platform is better: Vanguard or Sofi Invest?
To compare the trading platforms of Vanguard and Sofi Invest, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Sofi Invest offers a better experience. With research, Vanguard offers superior market research. Finally, we found Sofi Invest 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 Vanguard while Sofi Invest offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Is Vanguard good?
Vanguard is aimed squarely at buy-and-hold investors, and its platform reflects that focus. Vanguard is known for its low-cost funds, and the investment platform is really built for those looking to invest solely in mutual funds and ETFs.
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.
Vanguard vs Sofi Invest Winner
Overall winner: Vanguard
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