Webull vs SoFi Invest Comparison
Comparing brokers side by side is no easy task. We spend hundreds of hours each year testing the platforms, mobile apps, trading tools and general ease of use among online brokerages, as well as comparing commissions and fees, to find the best online broker.
Though many U.S. brokers offer basic trading features, such as an app, charting tools, stock research and educational content, the depth of those features can vary widely. Let's compare Webull vs SoFi Invest.
Is Webull or SoFi Invest better for beginners?
In stock trading, the more you know, the better you’ll do. Taking advantage of resources like articles, webinars, videos and interactive elements is a great way to shorten the learning curve. In our analysis, we examine the availability of several different types of educational materials.
For 2023, our review finds that SoFi Invest offers more comprehensive new investor education for beginning investors than Webull. Webull offers investors access to Paper Trading, Education (Stocks), Education (ETFs) 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 Videos.
What about Webull vs SoFi Invest pricing?
Webull and SoFi Invest charge the same amount for regular stock trades, $0.00. Webull and SoFi Invest both charge $0.00 per option contract. Webull and SoFi Invest both charge (Not offered) per option contract. For a deeper dive, see our best brokers for free stock trading guide.
Does Webull or SoFi Invest offer a wider range of investment options?
Looking at a full range of investment options, including order types and international trading, our research has found that Webull offers a more comprehensive offering than SoFi Invest. Webull ranks #13 out of 18 brokers for our Investment Options category, while SoFi Invest ranks #15.
Both Webull and SoFi Invest offer Stock Trading, Fractional Shares, Options Trading and OTC Stocks. Neither have Mutual Funds, Futures Trading, Forex Trading and Advisor Services Looking at Mutual Funds, Webull and SoFi Invest both provide customers access to 0 no transaction fee (NTF) mutual funds.
Do Webull and SoFi Invest offer cryptocurrency?
In our analysis of top U.S. brokerages, we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum. Though crypto has risen steadily in popularity, availability still varies from broker to broker. Our review finds that both Webull and SoFi Invest offer crypto trading.
Which trading platform is better: Webull or SoFi Invest?
To compare the day trading platforms of Webull and SoFi Invest, we focused on trading tools and functionality across both web and desktop-based platforms. Popular day trading platform tools include streaming real-time quotes, stock alerts, trading hotkeys, direct market routing, streaming time and sales, customizable watch lists, backtesting, and fully functional charting packages, among many others. For day trading, Webull offers a better experience.
Does Webull or SoFi Invest offer a better stock trading app?
After testing 25 features across the stock trading apps of Webull and SoFi Invest, we found Webull to be better overall. The best stock market apps are easy to use, have excellent design, and deliver a fully featured online trading experience. Webull ranks #7 out of 18 brokers, while SoFi Invest ranks #16.
Webull Trading App Gallery
SoFi Invest Trading App Gallery
Which broker is better for researching stocks?
For research, Webull offers superior market research than SoFi Invest. Webull ranks #11 and SoFi Invest ranks #17.
Over the years, we've found that the best brokers provide rich market commentary, a variety of third-party research reports, and thorough quote screens that are not just easy to navigate, but that also include a comprehensive selection of fundamental data. Robust stock, ETFs, and mutual fund screeners are also must-haves for trade idea generation.
How do Webull and SoFi Invest compare in terms of minimum deposit required?
Webull requires a minimum deposit of $0.00, while SoFi Invest requires a minimum deposit of $5.00. From our testing, we found that SoFi is the only broker that requires a minimum deposit.
Which broker offers better margin rates for accounts under $25,000?
Webull charges 9.74% for accounts under $25,000 while SoFi Invest charges a margin rate of 9.5%. The industry average of the 18 brokers we track is 9%.
Does Webull offer fractional shares? Does SoFi Invest?
Webull and SoFi Invest allow traders to trade fractional shares. Our research has found that 41% of brokers offer fractional shares investing. Fractional shares allow traders to buy a part of a whole share of stock. For example, if Amazon is trading at $1,000, you could buy half a share for $500.
Can you trade penny stocks with Webull or SoFi Invest?
Both Webull and SoFi Invest allow you to trade penny stocks. Webull charges N/A per trade while SoFi Invest charges N/A. Penny stocks are companies whose shares trade for under $5 and are listed over the counter (OTC). For brokers that do offer penny stock trades, the average commission is $3.
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 Webull while SoFi Invest offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Which broker offers stronger customer service?
StockBrokers.com partners with customer experience research group Confero to conduct phone tests from locations across the United States to thoroughly evaluate the quality and speed of brokerage customer service. (Read more about How We Test.) Here are the results of our current testing.
Webull was rated 14th out of 14 brokers, with an overall score of 5.8 out of 10.
SoFi Invest was rated 6th out of 14 brokers, with an overall score of 8.2 out of 10.
Is Webull good?
Webull is an excellent choice for beginning and intermediate traders. The user experience is outstanding, and Webull has better charts than its natural competitor, Robinhood. Options contracts are commission-free, but crypto markups and markdowns are on the high side. Experienced investors may eventually miss the features, research, and investment choices available at leading brokers.
In the 2023 StockBrokers.com Annual Review, Webull ranked among Best in Class for Investor Community.
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.
In the 2023 StockBrokers.com Annual Review, SoFi Invest ranked among Best in Class for Banking Services and Investor Community.
Webull vs SoFi Invest Winner
Overall winner: Webull
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