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Our top alternative brokers to Passfolio
Robinhood
4.6
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Webull
4.4
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Our top alternative brokers to Passfolio
Robinhood
4.6
Open account
Webull
4.4
Open account
Passfolio Alternatives

The best alternatives to Passfolio are

  1. Robinhood - US zero-fee discount broker
  2. Webull - US discount broker
  3. SoFi Invest - US discount broker

Let's see in a bit more detail how the Passfolio alternatives compare to Passfolio and each other:

Passfolio alternatives comparison
Passfolio Robinhood Webull SoFi Invest
Overall score 4.1 4.6 4.4 4.4
Fees score 5.0 stars 4.8 stars 4.7 stars 5.0 stars
Account opening score 5.0 stars 5.0 stars 5.0 stars 4.4 stars
Deposit and withdrawal score 1.5 stars 2.3 stars 1.9 stars 2.2 stars
Web platform score - 4.5 stars 4.5 stars 3.2 stars
Markets and products score 2.0 stars 2.4 stars 1.7 stars 1.7 stars
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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
  • Robinhood is recommended for beginners and buy-and-hold investors focusing on the us stock market
  • Webull is recommended for investors and traders looking for zero-commission trading and focusing on us markets
  • SoFi Invest is recommended for beginners and investors looking for zero-commission trading, focusing on the us market

Important factors of finding Passfolio alternatives

So far BrokerChooser has reviewed 78 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 cannot make a deposit with your credit card at Passfolio, some alternatives might allow you to do that.

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
Passfolio

Passfolio, a global zero-commission stockbroker, is a young and ambitious brokerage founded in 2018. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). In addition to the top-tier regulation, clients also enjoy additional 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.

Although Passfolio is a global broker, there is a distinct focus on Brazilian customers, 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. 

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 web and desktop platforms

Fees
5.0

Passfolio's fees are highly attractive as trading in all assets except fro cryptos is free of charge, provided the value of the trade reaches $5. On the other hand, most withdrawal options are subject to a fee.
Pros Cons
Free stock and ETF trading for products priced above $5 None
No account opening and maintenance fees
Passfolio alternatives trading fees
Passfolio Robinhood Webull SoFi Invest
US stock $0.0 $0.0 $0.0 $0.0
UK stock - - - -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k

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Account opening
5.0

When made on a mobile device, the account opening at Passfolio is super fast and fully digital. The validation time is a mere 15 minutes. On the other hand, experience shows that validation can run into issues on the computer.
Pros Cons
Fully digital Verification can be buggy on desktop
No minimum deposit
Verification in 15 minutes
Passfolio alternatives minimum deposit and account open times
Passfolio Robinhood Webull SoFi Invest
Minimum deposit $0 $0 $0 $0
Time to open account 1 day 1 day 1 day 1-3 days

Learn more about Passfolio minimum deposit here.

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Deposit and withdrawal
1.5

Passfolio's deposit functions are numerous and they all 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 Credit/Debit card not available
Only one account base currency
Not user-friendly
Passfolio and alternatives withdrawal options and fees
Passfolio Robinhood Webull SoFi Invest
Bank transfer Yes Yes Yes Yes
Credit/debit card No No No No
Electronic wallets No No No No
Withdrawal fee $0.25 $0 $0 $0

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Web trading platform

Passfolio only has a mobile trading platform, clients do not have the option to trade on a Desktop or Web platform. At the same time, the live chat is only available on the Web.
Passfolio and alternatives trading platform scores
Passfolio Robinhood Webull SoFi Invest
Web platform score - 4.5 stars 4.5 stars 3.2 stars
Mobile platform score 4.2 stars 5.0 stars 5.0 stars 4.5 stars
Desktop platform score - - 4.5 stars -

Learn more about Passfolio's web trading platform in the detailed Passfolio review.

Markets and products
2.0

In addition to cryptos, Passfolio offers stocks, ETFs, REITs and ADRs traded on US stock exchanges. Popular assets such as mutual funds, bonds and options are missing from the product portfolio.
Passfolio and alternatives markets and products
Passfolio Robinhood Webull SoFi Invest
Stock Yes Yes Yes Yes
ETF Yes Yes Yes Yes
Forex No No No No
Fund No No No No
Bond No No No No
Options No Yes Yes No
Futures No No No No
CFD No No No No
Crypto Yes Yes No Yes

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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, the deposit 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 non-U.S. 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 5.0 stars
Recommended for Beginners and long-term investors focusing on the US stock market

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Passfolio alternatives
Robinhood

Robinhood is a US-based, zero-fee discount 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

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Fees
4.8

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
Passfolio vs. Robinhood: Trading fees
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

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Account opening
5.0

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
Passfolio vs. Robinhood: Minimum deposit, time to open an account
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.

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Deposit and withdrawal
2.3

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
Passfolio vs. Robinhood: Withdrawal options
Robinhood Passfolio
Bank transfer Yes Yes
Credit/debit card No No
Electronic wallets No No
Withdrawal fee $0 $0.25

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Web trading platform
4.5

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
Web trading platform of Robinhood, a Passfolio alternative
Passfolio vs. Robinhood: Trading platform scores
Robinhood Passfolio
Web platform score 4.5 stars -
Mobile platform score 5.0 stars 4.2 stars
Desktop platform score - -

Learn more about Robinhood's web trading platform in the detailed Robinhood review.

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Markets and products
2.4

Robinhood's product portfolio is limited, as it offers only stocks, ETFs, options and cryptos. Furthermore, assets are limited mainly to US markets.
Passfolio vs. Robinhood: Markets and products
Robinhood Passfolio
Stock Yes Yes
ETF Yes Yes
Forex No No
Fund No No
Bond No No
Options Yes No
Futures No No
CFD No No
Crypto Yes Yes

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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 4.8 stars
Recommended for Beginners and buy-and-hold investors focusing on the US stock market

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Passfolio alternatives
Webull

Webull is a US-based fintech startup offering zero-fee or discount brokerage services. The company was founded in 2017 and is regulated by the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Webull is considered safe because it is regulated by top-tier financial authorities and provides a maximum of $500,000 investor protection, including a $250,000 limit for cash under the Securities Investor Protection Corporation's (SIPC) protection scheme.

Recommended for investors and traders looking for zero-commission trading and focusing on us markets

Pros Cons
Free stocks, ETFs and options Limited product portfolio
Fast and easy account opening Only bank transfer for deposit/withdrawal
Great trading platforms No live chat and poor phone support

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Fees
4.7

Webull offers commission-free trading for US-listed stocks, ETFs and options. There is no withdrawal fee for ACH transfers and no inactivity fee. However, wire transfer fees are quite high.
Pros Cons
No commission (for stocks, ETFs, options) High wire transfer costs
ACH transfers are free for funding & payout
Passfolio vs. Webull: Trading fees
Webull 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

Open account More

Account opening
5.0

Webull's account opening process is seamless and fully digital, and verification takes less than a day. However, Webull is available only for clients from limited countries, such as the US.
Pros Cons
Fast Mostly for just US residents
Fully digital
No minimum deposit
Passfolio vs. Webull: Minimum deposit, time to open an account
Webull Passfolio
Minimum deposit $0 $0
Time to open account 1 day 1 day

If you are interested more in Webull minimum deposit, this overview will help you.

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Deposit and withdrawal
1.9

At Webull, you can use only bank transfer to add or withdraw funds, and wire transfer fees are high. As a plus, transferring money is easy and user-friendly and ACH transfers are free.
Pros Cons
No deposit fee Credit/Debit card not available
User-friendly Only one account base currency
Free ACH deposit and withdrawal High fees for wire transfer
Passfolio vs. Webull: Withdrawal options
Webull Passfolio
Bank transfer Yes Yes
Credit/debit card No No
Electronic wallets No No
Withdrawal fee $0 $0.25

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Web trading platform
4.5

Webull offers an easy-to-use web trading platform suitable for both beginners and experts, with many advanced features. On the negative side, there is no two-step, safer login.
Pros Cons
User-friendly No two-step (safer) login
Good customizability (for charts, workspace)
Good variety of order types
Web trading platform of Webull, a Passfolio alternative
Passfolio vs. Webull: Trading platform scores
Webull Passfolio
Web platform score 4.5 stars -
Mobile platform score 5.0 stars 4.2 stars
Desktop platform score 4.5 stars -

Learn more about Webull's web trading platform in the detailed Webull review.

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Markets and products
1.7

Webull has a limited product portfolio that includes only US-based stocks, ETFs and options. Popular asset types such as funds, bonds or forex are not available.
Passfolio vs. Webull: Markets and products
Webull Passfolio
Stock Yes Yes
ETF Yes Yes
Forex No No
Fund No No
Bond No No
Options Yes No
Futures No No
CFD No No
Crypto No Yes

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Verdict

Webull's fees are great. You can trade with commission-free US stocks, ETFs and options. The account opening is easy, fully digital and fast. The platforms are easy to use and well-structured.

Webull has some drawbacks though. The product portfolio is quite limited, covering only US stocks, ETFs and options. You can use only bank transfer for deposit or withdrawal, and wire transfers are charged for both directions. Phone and email customer support are hard to contact.

As the account opening is seamless, and Webull offers commission-free stock and ETF trades, feel free to try it.

Webull
Summary Webull is a discount US stockbroker regulated by the top-tier SEC and FINRA.
Fees score 4.7 stars
Recommended for Investors and traders looking for zero-commission trading and focusing on US markets

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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 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
5.0

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
Passfolio vs. SoFi Invest: Trading fees
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

More

Account opening
4.4

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
Passfolio vs. SoFi Invest: Minimum deposit, time to open an account
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.

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Deposit and withdrawal
2.2

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
Passfolio vs. SoFi Invest: Withdrawal options
SoFi Invest Passfolio
Bank transfer Yes Yes
Credit/debit card No No
Electronic wallets No No
Withdrawal fee $0 $0.25

More

Web trading platform
3.2

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
Web trading platform of SoFi Invest, a Passfolio alternative
Passfolio vs. SoFi Invest: Trading platform scores
SoFi Invest Passfolio
Web platform score 3.2 stars -
Mobile platform score 4.5 stars 4.2 stars
Desktop platform score - -

Learn more about SoFi Invest's web trading platform in the detailed SoFi Invest review.

Markets and products
1.7

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.
Passfolio vs. SoFi Invest: Markets and products
SoFi Invest Passfolio
Stock Yes Yes
ETF Yes Yes
Forex No No
Fund No No
Bond No No
Options No No
Futures No No
CFD No No
Crypto Yes Yes

More

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 5.0 stars
Recommended for Beginners and investors looking for zero-commission trading, focusing on the US market

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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.

Passfolio alternatives
Broker Info Recommended for
Passfolio Global zero-commission stockbroker Beginners and long-term investors focusing on the US stock market
Robinhood US zero-fee discount broker Beginners and buy-and-hold investors focusing on the US stock market
Webull US discount broker Investors and traders looking for zero-commission trading and focusing on US markets
SoFi Invest US discount broker Beginners and investors looking for zero-commission trading, focusing on the US market

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

Author of this article

Dan Sallai

Author of this article

My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.
My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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