The best alternatives to Passfolio are
- Revolut - UK discount broker
- SoFi Invest - US discount broker
- Robinhood - US zero-fee discount broker
- Freetrade - UK discount broker
Let's see in a bit more detail how the Passfolio alternatives compare to Passfolio and each other:
| Passfolio | Revolut | SoFi Invest | Robinhood | Freetrade | |
|---|---|---|---|---|---|
| Overall score | 4.7 stars | 4.4 stars | 4.7 stars | 4.5 stars | 4.7 stars |
| Fees score | 4.6 stars | 3.7 stars | 4.9 stars | 4.7 stars | 4.4 stars |
| Account opening score | 5.0 stars | 5.0 stars | 4.2 stars | 5.0 stars | 5.0 stars |
| Deposit and withdrawal score | 2.8 stars | 3.5 stars | 2.2 stars | 1.8 stars | 4.0 stars |
| Web platform score | 3.8 stars | - | 3.2 stars | 4.5 stars | - |
| Markets and products score | 2.2 stars | 2.2 stars | 2.2 stars | 2.9 stars | 3.0 stars |
| Visit broker | Visit broker | Visit broker | Visit broker |
Why are these brokers considered good alternatives to Passfolio? There are many areas based on which Passfolio can be compared with others. When we say a given online broker is a good alternative to Passfolio we mean these brokers are comparable in the following areas:
- The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
- The type of clients they target, i.e. beginners, experienced investors, or day traders.
Passfolio alternatives recommendations
Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:
- Passfolio is recommended for beginners and long-term investors focusing on the us stock market
- Revolut is recommended for beginners looking for low stock trading and a great mobile-only trading platform
- SoFi Invest is recommended for beginners and investors looking for zero-commission trading, focusing on the us market
- Robinhood is recommended for beginners and buy-and-hold investors focusing on the us stock market
- Freetrade is recommended for long-term investors on the hunt for low fees and focusing on the uk and us markets
Important factors of finding Passfolio alternatives
So far BrokerChooser has reviewed 102 online brokers in detail, which gives this comparison a solid starting point.
Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we
- open a live account
- check over 100 criteria, with weighting based on readers' preferences
- refresh data regularly
Whether Passfolio or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:
Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. Passfolio is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost Passfolio alternative.
Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At Passfolio this is not a problem as you can have it ready on the same day you registered.
Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at Passfolio, this might not be the case at its alternatives.
Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.
Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Passfolio alternative is a must.
Now let's dive into the details of how Passfolio and its alternatives perform in the most important areas!
Passfolio alternatives
Revolut
Revolut is a fast-growing fintech startup founded in 2015 and mainly known for its banking and payment services. In 2019, the company launched its commission-free stock trading service, which is provided by Revolut Trading Ltd.
Revolut is regulated by multiple top-tier regulators, including the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Clients' assets are protected up to $500,000 ($100,000 cash) under the Securities Investment Protection Corporation's (SIPC) insurance. The protected amount can vary based on your country of residence. Revolut is also regulated by the UK Financial Conduct Authority (FCA).
Recommended for beginners looking for low stock trading and a great mobile-only trading platform
| Pros | Cons |
|---|---|
|
• Low stock fees
|
• Limited product portfolio
|
|
• Fast and easy account opening
|
• Basic research and missing educational tools
|
|
• Great mobile trading platform
|
• Poor customer service
|
Fees
Revolut provides low fees for stock trading. On the other hand, it charges a custody fee and outside the monthly allowance the trading fees are quite high.
| Pros | Cons |
|---|---|
|
• Low non-trading fees
|
• High crypto fees
|
|
• Low stock fees
|
|
| Revolut | Passfolio | |
|---|---|---|
| Apple benchmark fee | $11.0 | $0.3 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Revolut has an easy, fast, and fully digital account opening, requiring no minimum account balance.
| Pros | Cons |
|---|---|
|
• Fast
|
None |
|
• Fully digital
|
|
|
• No minimum deposit
|
|
| Revolut | Passfolio | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1 day | 1 day |
If you are interested more in Revolut minimum deposit, this overview will help you.
Deposit and withdrawal
Revolut offers several deposit options, and both deposits and withdrawals are free even when using wire transfers. On the negative side, you can only use a USD-based account for trading and we experienced issues with canceled orders.
| Pros | Cons |
|---|---|
|
• Credit/Debit card available
|
• Only one account base currency
|
|
• Free withdrawal
|
• Funds can be blocked after cancel order
|
|
• No deposit fee
|
|
| Revolut | Passfolio | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
Revolut does not offer a web trading platform, it's available only on mobile. This is a drawback, as web-based applications are convenient and accessible from all devices.
| Revolut | Passfolio | |
|---|---|---|
| Web platform score | - | 3.8 stars |
| Mobile platform score | 4.4 stars | 4.8 stars |
| Desktop platform score | - | - |
Learn more about Revolut's web trading platform in the detailed Revolut review.
Markets and products
Revolut has a limited product portfolio, as you can only trade certain US stocks, cryptos, gold and silver. It doesn't offer popular asset classes like mutual funds, bonds or options.
| Revolut | Passfolio | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | No | Yes |
| Forex | No | No |
| Funds | No | No |
| Bonds | No | No |
| Options | No | No |
| Futures | No | No |
| CFDs | No | No |
| Crypto | Yes | Yes |
Verdict
Revolut's fees truly steal the show. If you open any of the three types of accounts, you can trade US stocks for low fees. Account opening is easy, fully digital, and fast. You will also have an excellent and user-friendly mobile trading platform.
Revolut has some drawbacks though. The product portfolio covers only US stocks and some cryptocurrencies. Their research tool selection is limited, and the broker offers no educational material at all. Customer service could also be improved.
If you want to trade US stocks on an easy-to-use mobile platform, Revolut is a great choice.
| Revolut | |
|---|---|
| Summary | Revolut is a UK-based fintech startup that offers low-cost stock trading. Revolut Trading Ltd is regulated by the FCA. |
| Fees score | 3.7 stars |
| Recommended for | Beginners looking for low stock trading and a great mobile-only trading platform |
Passfolio alternatives
SoFi Invest
SoFi, short for "Social Finance", is a US-based fintech startup founded in 2011. It first specialized in student loan refinancing, but has expanded into the broker space since 2018. SoFi is regulated by the US Securities and Exchange Commission (SEC) and FINRA. SoFi Invest is SoFi's brand for zero-fee or discount brokerage services.
SoFi Invest offers active and automated investing services. The former means a self-directed account where you can trade stocks, ETFs, and cryptocurrencies on your own. By contrast, SoFi Invest automated investing is a robo-advisory service where SoFi Invest handles your investments. In this review, we tested SoFi Invest active investing. Click here for the SoFi robo-advisory review. Sofi Invest also offers active or automated Traditional, Roth, and SEP IRAs, individual retirement accounts.
SoFi Invest is considered safe because it is regulated by top-tier financial authorities and provides up to $500,000 investor protection (including a $250,000 limit for cash) as part of the SIPC protection scheme.
Recommended for beginners and investors looking for zero-commission trading, focusing on the us market
| Pros | Cons |
|---|---|
|
• Free stocks and ETFs
|
• Available only for US clients
|
|
• Fast and fully digital account opening
|
• Limited product portfolio
|
|
• Great customer support
|
• Basic research tools
|
Fees
SoFi Invest has low trading and non-trading fees. It offers commission-free trades for US stocks and ETFs, and no fee is charged for inactivity or withdrawals.
| Pros | Cons |
|---|---|
|
• Free stocks and ETFs
|
None |
|
• No withdrawal fee
|
|
|
• No inactivity fee
|
|
| SoFi Invest | Passfolio | |
|---|---|---|
| Apple benchmark fee | $0.3 | $0.3 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Account opening at SoFi Invest is seamless and fully digital; our account was opened within a day. On the flip side, only US clients can open an account.
| Pros | Cons |
|---|---|
|
• Fast
|
• Only US clients
|
|
• Fully digital
|
|
|
• No minimum deposit
|
|
| SoFi Invest | Passfolio | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 days | 1 day |
If you are interested more in SoFi Invest minimum deposit, this overview will help you.
Deposit and withdrawal
SoFi Invest offers user-friendly and mostly free deposit and withdrawal options. However, you can use only bank transfers, while wire transfer withdrawals incur a high fee.
| Pros | Cons |
|---|---|
|
• Free withdrawal
|
• Credit/Debit card not available
|
|
• No deposit fee
|
• High fee for wire withdrawals
|
|
• User-friendly
|
|
| SoFi Invest | Passfolio | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
SoFi Invest offers a user-friendly web trading platform with a neat design. However, it lacks customizability, unique price alerts, and many common order types.
| Pros | Cons |
|---|---|
|
• User-friendly
|
• Limited customizability (for charts, workspace)
|
|
• Two-step (safer) login
|
• Limited order types
|
|
• Modern design
|
• No unique price alerts
|
| SoFi Invest | Passfolio | |
|---|---|---|
| Web platform score | 3.2 stars | 3.8 stars |
| Mobile platform score | 4.5 stars | 4.8 stars |
| Desktop platform score | - | - |
Learn more about SoFi Invest's web trading platform in the detailed SoFi Invest review.
Markets and products
SoFi Invest has a limited product portfolio comprising US stocks and ETFs as well as a few cryptocurrencies. You can't trade funds, bonds, forex, options or futures.
| SoFi Invest | Passfolio | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | No |
| Funds | No | No |
| Bonds | No | No |
| Options | No | No |
| Futures | No | No |
| CFDs | No | No |
| Crypto | Yes | Yes |
Verdict
SoFi Invest's fees are great. You can trade stocks and ETFs listed on major US markets for free. Account opening is easy, fully digital and fast. Customer service responds quickly and gives relevant answers.
SoFi Invest has some drawbacks though. It is available only for US clients. Its product portfolio is fairly limited, covering only US stocks, ETFs, and a few cryptocurrencies. Lastly, research tools are very basic.
As the account opening process is seamless and SoFi Invest offers commission-free stock and ETF trades, you should feel free to try it.
| SoFi Invest | |
|---|---|
| Summary | SoFi Invest is a discount US stockbroker regulated by the top-tier SEC and FINRA. |
| Fees score | 4.9 stars |
| Recommended for | Beginners and investors looking for zero-commission trading, focusing on the US market |
Passfolio alternatives
Robinhood
Robinhood is a US-based, zero-fee broker established in 2013. The company is regulated by top-tier financial authorities, such as the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Besides the brokerage service, Robinhood also introduced Cash Management to help clients earn interest on uninvested funds. Click here for more details on this great and unique service.
BrokerChooser is committed to bringing high transparency and clarity to its customers, including brokers and partners. BrokerChooser's Advertiser Disclosure.
Recommended for beginners and buy-and-hold investors focusing on the us stock market
| Pros | Cons |
|---|---|
|
• Free US stock and ETF trading
|
• Limited product range
|
|
• Great mobile and web trading platforms
|
• Weak customer support
|
|
• Fast and fully digital account opening
|
• Few educational materials
|
Fees
Trading US stocks and ETFs is free at Robinhood. The broker doesn't charge an inactivity or withdrawal fee.
| Pros | Cons |
|---|---|
|
• Commission-free US stock and ETF trading
|
None |
|
• No fee for deposit or withdrawal
|
|
|
• Transparent fee structure
|
|
| Robinhood | Passfolio | |
|---|---|---|
| Apple benchmark fee | $0.3 | $0.3 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
The account opening at Robinhood is seamless, fully digital and can be completed within a day. On the negative side, the broker only accepts US clients and IRA accounts are not available.
| Pros | Cons |
|---|---|
|
• Fast
|
• Available only for US clients
|
|
• Fully digital
|
• No IRA accounts offered
|
|
• No minimum deposit
|
|
| Robinhood | Passfolio | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1 day | 1 day |
If you are interested more in Robinhood minimum deposit, this overview will help you.
Deposit and withdrawal
Deposit and withdrawal at Robinhood are free and easy and a great cash management service is available. On the other hand, you can use only bank transfer and deposits above your 'instant' limit may take several business days.
| Pros | Cons |
|---|---|
|
• Free withdrawal
|
• Credit/Debit card not available
|
|
• No deposit fee
|
• Depositing larger amounts on Robinhood Gold takes longer
|
|
• Cash management service
|
• Wire withdrawal is pricey
|
| Robinhood | Passfolio | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
Robinhood provides a safe, user-friendly and well-designed web trading platform. On the downside, customizability is limited.
| Pros | Cons |
|---|---|
|
• User-friendly
|
• Limited customizability (for charts, workspace)
|
|
• Clear fee report
|
|
|
• Two-step (safer) login
|
|
| Robinhood | Passfolio | |
|---|---|---|
| Web platform score | 4.5 stars | 3.8 stars |
| Mobile platform score | 5.0 stars | 4.8 stars |
| Desktop platform score | - | - |
Learn more about Robinhood's web trading platform in the detailed Robinhood review.
Markets and products
Robinhood's product portfolio is limited, as it offers only stocks, ETFs, options and cryptos. Furthermore, assets are limited mainly to US markets. During January 2021, Robinhood restricted trading in as many as 50 individual stocks.
| Robinhood | Passfolio | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | No |
| Funds | No | No |
| Bonds | No | No |
| Options | Yes | No |
| Futures | No | No |
| CFDs | No | No |
| Crypto | Yes | Yes |
Verdict
The biggest argument in favor of Robinhood is its appealing fee structure. US stock trading is commission-free and there is no withdrawal or inactivity fee. Robinhood clients can trade on awesome and user-friendly mobile and web trading platforms. The account opening is easy, fast and fully digital.
Robinhood has some drawbacks though. Most of the products you can trade are limited to the US market. Customer support is weak; you can only reach them via e-mail and it can take some time to get an answer. The broker provides educational articles but little else to guide you in the world of trading.
If you want to trade US stocks for free and are looking for an easy-to-use platform, Robinhood is your best choice.
| Robinhood | |
|---|---|
| Summary | Robinhood is a US-based zero-commission broker. It is overseen by FINRA, a top-tier regulator. |
| Fees score | 4.7 stars |
| Recommended for | Beginners and buy-and-hold investors focusing on the US stock market |
Passfolio alternatives
Freetrade
Freetrade is a UK-based fintech startup providing commission-free stock trading, regulated by the UK's Financial Conduct Authority (FCA). The company was founded in 2016.
Freetrade is considered safe because it is regulated by a top-tier regulator, the FCA.
Recommended for long-term investors on the hunt for low fees and focusing on the uk and us markets
| Pros | Cons |
|---|---|
|
• Free stock and ETF trading
|
• Basic product portfolio
|
|
• Easy and fast account opening
|
• Limited research tools
|
|
• Great mobile trading platform
|
• Debit card only for deposits
|
Fees
At Freetrade, you can trade stocks and ETFs free of charge. Also, there are no account, inactivity or withdrawal fees. However, there is a high, 0.45% fee for converting your funds to USD.
| Pros | Cons |
|---|---|
|
• Free stock and ETF trading
|
• High currency conversion fee
|
|
• No inactivity fee
|
|
|
• No withdrawal fee
|
|
| Freetrade | Passfolio | |
|---|---|---|
| Apple benchmark fee | $0.3 | $0.3 |
| Vodafone benchmark fee | $0.8 | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Account opening at Freetrade is fast, fully digital and user-friendly, and there is no minimum deposit. You can choose from 3 different account types.
| Pros | Cons |
|---|---|
|
• Fast
|
None |
|
• Fully digital
|
|
|
• No minimum deposit
|
|
| Freetrade | Passfolio | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1 day | 1 day |
If you are interested more in Freetrade minimum deposit, this overview will help you.
Deposit and withdrawal
Deposits and withdrawals are user-friendly and free. On the negative side, no credit cards are accepted and the only available base currency is GBP.
| Pros | Cons |
|---|---|
|
• Free withdrawal
|
• Only one account base currency
|
|
• No deposit fee
|
• Debit card available only for deposits
|
|
• User-friendly
|
|
| Freetrade | Passfolio | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | No |
| Electronic wallets | Yes | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
At Freetrade, you can only trade through a mobile platform, while desktop platform is not available, and web platform is available in beta version only for Freetrade Plus subscribers.
| Freetrade | Passfolio | |
|---|---|---|
| Web platform score | - | 3.8 stars |
| Mobile platform score | 4.7 stars | 4.8 stars |
| Desktop platform score | - | - |
Learn more about Freetrade's web trading platform in the detailed Freetrade review.
Markets and products
Freetrade has a limited product portfolio that covers only stocks and ETFs. There are no other asset classes available, like mutual funds, bonds or options.
| Freetrade | Passfolio | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | No |
| Funds | No | No |
| Bonds | No | No |
| Options | No | No |
| Futures | No | No |
| CFDs | No | No |
| Crypto | No | Yes |
Verdict
Freetrade's fees are great. Stock and ETF trades are free and there is no inactivity fee. Account opening is easy, fully digital and fast. You can use an awesome and user-friendly mobile trading platform.
Freetrade has some drawbacks, though: there are stocks and ETFs available for trading. There aren't many research tools and you can't use credit/debit cards for transfers.
If you are looking for stock and ETF trading for free and you prefer an easy-to-use mobile trading platform, Freetrade is a good choice.
| Freetrade | |
|---|---|
| Summary | Freetrade is a UK fintech startup offering a wide selection of commission-free stocks. Freetrade is regulated by the FCA. |
| Fees score | 4.4 stars |
| Recommended for | Long-term investors on the hunt for low fees and focusing on the UK and US markets |
Passfolio alternatives
Passfolio
Passfolio, a global zero-commission stockbroker, is a young and ambitious brokerage founded in 2018. It is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). In addition to the top-tier regulation, clients also enjoy investor protection under the SIPC policy of Passfolio's clearing firm for up to an additional $30 million (with a cash sub-limit of $900,000 per account), subject to an aggregate limit of $150 million.
There is a distinct focus on Brazilian customers at Passfolio, as evidenced by the fact that a good portion of the content it offers is available in Portuguese.
Passfolio is considered safe because it is regulated by top-tier authorities and offers extra protection to investors.
HEADS UP: As of July 2022, Passfolio changed its clearing broker and stopped accepting customers from most countries. This is a major development as previously the broker accepted clients from more than 170 countries worldwide. Supported countries at the broker are: Brazil, Colombia, Mexico, Nigeria, and the US. Residents of unsupported countries cannot open an account at Passfolio and those with an account need to sell all their assets by the end of July 2022. Starting from August 1, 2022 the broker charges a $100 monthly fee for users located in unsupported countries.
Recommended for beginners and long-term investors focusing on the us stock market
| Pros | Cons |
|---|---|
|
• Free US stock and ETF trading
|
• Limited product portfolio focusing on US markets
|
|
• Great mobile platform
|
• Deposit is not user-friendly
|
|
• Fast and fully digital account opening
|
• Missing desktop platform
|
Fees
Passfolio has attractive fees, as trading in all assets except for cryptos is free of charge above a trade value of $5. On the other hand, most withdrawal options carry a fee.
| Pros | Cons |
|---|---|
|
• Free stock and ETF trading above $5
|
• Withdrawal fee
|
|
• No account opening and maintenance fees
|
• High margin rates for stock trading
|
| Passfolio | Revolut | SoFi Invest | Robinhood | Freetrade | |
|---|---|---|---|---|---|
| US stock | $0.0 | $5.4 | $0.0 | $0.0 | $0.0 |
| UK stock | - | - | - | - | $0.0 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k
Account opening
On mobile, the account opening at Passfolio is super fast and fully digital, with validation in just 15 minutes. On the other hand, there may be some issues when validating via desktop.
| Pros | Cons |
|---|---|
|
• Fully digital
|
• Verification can be buggy on desktop
|
|
• No minimum deposit
|
|
|
• Verification in 15 minutes
|
|
| Passfolio | Revolut | SoFi Invest | Robinhood | Freetrade | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $0 | $0 | $0 |
| Time to open account | 1 day | 1 day | 1-3 days | 1 day | 1 day |
Learn more about Passfolio minimum deposit here.
Deposit and withdrawal
Passfolio's deposit functions are numerous and most of them come free of charge. On the other hand, withdrawal is not free and the process of depositing funds is complicated.
| Pros | Cons |
|---|---|
|
• No deposit fee
|
• Only one account base currency
|
|
|
• Not user-friendly
|
|
|
• Withdrawal fee
|
| Passfolio | Revolut | SoFi Invest | Robinhood | Freetrade | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
Web trading platform
Passfolio's new web trading platform is still in Beta. It is user-friendly and has two-factor SMS verification. However, it is not customizable, has only a few order types and no price alerts.
| Pros | Cons |
|---|---|
|
• User-friendly
|
• Limited customizability (for charts, workspace)
|
|
• Clear fee report
|
• Limited order types
|
|
• Two-step (safer) login
|
• No price alerts
|
| Passfolio | Revolut | SoFi Invest | Robinhood | Freetrade | |
|---|---|---|---|---|---|
| Web platform score | 3.8 stars | - | 3.2 stars | 4.5 stars | - |
| Mobile platform score | 4.8 stars | 4.4 stars | 4.5 stars | 5.0 stars | 4.7 stars |
| Desktop platform score | - | - | - | - | - |
Learn more about Passfolio's web trading platform in the detailed Passfolio review.
Markets and products
Passfolio offers stocks, ETFs, REITs and ADRs traded on US stock exchanges, as well as cryptos. Popular assets such as mutual funds, bonds and options are not available.
| Passfolio | Revolut | SoFi Invest | Robinhood | Freetrade | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | Yes |
| ETFs | Yes | No | Yes | Yes | Yes |
| Forex | No | No | No | No | No |
| Funds | No | No | No | No | No |
| Bonds | No | No | No | No | No |
| Options | No | No | No | Yes | No |
| Futures | No | No | No | No | No |
| CFDs | No | No | No | No | No |
| Crypto | Yes | Yes | Yes | Yes | No |
Verdict
As an up-and-coming brokerage, the main attractive feature of Passfolio is its highly competitive fee structure. You can essentially trade free of charge with an amount exceeding $5, depositing funds is free and the broker doesn't charge any account fees either. The mobile app is exceptionally user-friendly and the account opening and validation was extremely fast.
On the negative side, the range of products is rather limited and customers have access solely to US markets (NYSE/NASDAQ). Depositing funds in your Passfolio account can prove to be a cumbersome process and all withdrawals carry a price tag. Educational materials are pretty scarce, albeit some of high quality, and videos are only available in Portuguese.
Passfolio is ideal for investors looking for an easy-to-use platform to trade in US securities.
| Passfolio | |
|---|---|
| Summary | Passfolio is a US-based commission-free stockbroker focusing on Brazil. It is regulated by both FINRA and SEC, and is available globally for clients. |
| Fees score | 4.6 stars |
| Recommended for | Beginners and long-term investors focusing on the US stock market |
Passfolio alternatives
Bottom line
Based on our analysis, there are several good alternatives to Passfolio. They all offer similar products and target similar customers. Here's a recap of the results in a table.
| Broker | Info | Recommended for |
|---|---|---|
| Passfolio | Global zero-commission stockbroker | Beginners and long-term investors focusing on the US stock market |
| Revolut | UK discount broker | Beginners looking for low stock trading and a great mobile-only trading platform |
| SoFi Invest | US discount broker | Beginners and investors looking for zero-commission trading, focusing on the US market |
| Robinhood | US zero-fee discount broker | Beginners and buy-and-hold investors focusing on the US stock market |
| Freetrade | UK discount broker | Long-term investors on the hunt for low fees and focusing on the UK and US markets |
Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.
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