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Our top alternative brokers to SoFi Invest
Robinhood
4.0
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Webull
4.4
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Our top alternative brokers to SoFi Invest
Robinhood
4.0
Visit broker
Webull
4.4
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SoFi Invest Alternatives

The best alternatives to SoFi Invest are

  1. Robinhood - US zero-fee discount broker
  2. Webull - US discount broker
  3. Chase You Invest - US-based discount broker
  4. Vanguard - US stockbroker

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

SoFi Invest alternatives comparison
SoFi Invest Robinhood Webull Chase You Invest Vanguard
Overall score 4.4 4.0 4.4 4.6 4.3
Fees score 5.0 stars 4.9 stars 4.7 stars 4.9 stars 3.7 stars
Account opening score 4.4 stars 5.0 stars 5.0 stars 5.0 stars 4.4 stars
Deposit and withdrawal score 2.2 stars 2.3 stars 1.9 stars 2.2 stars 2.4 stars
Web platform score 3.2 stars 4.5 stars 4.5 stars 2.9 stars 3.4 stars
Markets and products score 1.9 stars 1.1 stars 1.7 stars 2.2 stars 2.8 stars
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Why are these brokers considered good alternatives to SoFi Invest? There are many areas based on which SoFi Invest can be compared with others. When we say a given online broker is a good alternative to SoFi Invest 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.

SoFi Invest 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:

  • 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
  • Webull is recommended for investors and traders looking for zero-commission trading and focusing on us markets
  • Chase You Invest is recommended for beginners and buy-and-hold investors focusing on the us stock market
  • Vanguard is recommended for long-term investors who are looking for great etf and mutual fund offers

Important factors of finding SoFi Invest alternatives

So far BrokerChooser has reviewed 81 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 SoFi Invest 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. SoFi Invest is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost SoFi Invest alternative.

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 SoFi Invest, 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 SoFi Invest alternative is a must.


Now let's dive into the details of how SoFi Invest and its alternatives perform in the most important areas!

SoFi Invest 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
SoFi Invest alternatives trading fees
SoFi Invest Robinhood Webull Chase You Invest Vanguard
US stock $0.0 $0.0 $0.0 $0.0 $7.0
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
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
SoFi Invest alternatives minimum deposit and account open times
SoFi Invest Robinhood Webull Chase You Invest Vanguard
Minimum deposit $0 $0 $0 $0 $0
Time to open account 1-3 days 1 day 1 day 1 day 1-3 days

Learn more about SoFi Invest minimum deposit here.

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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
SoFi Invest and alternatives withdrawal options and fees
SoFi Invest Robinhood Webull Chase You Invest Vanguard
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No No No No
Electronic wallets No No No No No
Withdrawal fee $0 $0 $0 $0 $0

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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
SoFi Invest - Web trading platform
SoFi Invest and alternatives trading platform scores
SoFi Invest Robinhood Webull Chase You Invest Vanguard
Web platform score 3.2 stars 4.5 stars 4.5 stars 2.9 stars 3.4 stars
Mobile platform score 4.5 stars 5.0 stars 5.0 stars 3.9 stars 4.4 stars
Desktop platform score - - 4.5 stars - -

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

Markets and products
1.9

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 and alternatives markets and products
SoFi Invest Robinhood Webull Chase You Invest Vanguard
Stock Yes Yes Yes Yes Yes
ETF Yes Yes Yes Yes Yes
Forex No No No No No
Fund No No No Yes Yes
Bond No No No Yes Yes
Options No Yes Yes Yes Yes
Futures No No No No No
CFD No No No No No
Crypto Yes Yes No No No

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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SoFi Invest 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
4.9

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
SoFi Invest vs. Robinhood: Trading fees
Robinhood SoFi Invest
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
SoFi Invest vs. Robinhood: Minimum deposit, time to open an account
Robinhood SoFi Invest
Minimum deposit $0 $0
Time to open account 1 day 1-3 days

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

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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 SoFi Invest alternative
SoFi Invest vs. Robinhood: Trading platform scores
Robinhood SoFi Invest
Web platform score 4.5 stars 3.2 stars
Mobile platform score 5.0 stars 4.5 stars
Desktop platform score - -

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

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Markets and products
1.1

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.
SoFi Invest vs. Robinhood: Markets and products
Robinhood SoFi Invest
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 4.9 stars
Recommended for Beginners and buy-and-hold investors focusing on the US stock market

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SoFi Invest 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, overall one of the lowest fees among brokerages. 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
SoFi Invest vs. Webull: Trading fees
Webull SoFi Invest
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

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
SoFi Invest vs. Webull: Minimum deposit, time to open an account
Webull SoFi Invest
Minimum deposit $0 $0
Time to open account 1 day 1-3 days

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

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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 SoFi Invest alternative
SoFi Invest vs. Webull: Trading platform scores
Webull SoFi Invest
Web platform score 4.5 stars 3.2 stars
Mobile platform score 5.0 stars 4.5 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.
SoFi Invest vs. Webull: Markets and products
Webull SoFi Invest
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 get free stocks, 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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SoFi Invest alternatives
Chase You Invest

Chase You Invest is a US-based discount broker established by J.P. Morgan in 2018. The parent company, J.P. Morgan, is one the biggest global Tier 1 investment banks listed on the New York Stock Exchange. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Chase You Invest is considered safe because the parent company has a long track record, is listed on the stock exchange, has a banking background, discloses its financials regularly and is regulated by top-tier regulators.

Recommended for beginners and buy-and-hold investors focusing on the us stock market

Pros Cons
Commission-free US stocks, ETFs, funds and bonds Available only to US clients
Fast and fully digital account opening Limited product portfolio
Well-established parent company Basic research tools

Fees
4.9

Chase You Invest offers commission-free trading, but transaction and other smaller fees may apply.
Pros Cons
Low non-trading fees Low fees like transaction costs may be applied
Low stock and ETF fees
Commission-free stock, ETF, fund, and bond trades
SoFi Invest vs. Chase You Invest: Trading fees
Chase You Invest SoFi Invest
Apple benchmark fee $0.4 $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
5.0

Account opening at Chase You Invest is seamless and fully digital. It took us one day to open an account, however only US clients are accepted.
Pros Cons
Fast Only for US clients
Fully digital
No minimum deposit
SoFi Invest vs. Chase You Invest: Minimum deposit, time to open an account
Chase You Invest SoFi Invest
Minimum deposit $0 $0
Time to open account 1 day 1-3 days

If you are interested more in Chase You Invest minimum deposit, this overview will help you.

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Deposit and withdrawal
2.2

At Chase You Invest there is no deposit fee and transferring money is simple and easy, although withdrawal options could be more numerous.
Pros Cons
No deposit fee Credit/Debit card not available
Quick deposit and withdrawal - within 3 days Only one account base currency
High wire withdrawal fee for non-Chase accounts
SoFi Invest vs. Chase You Invest: Withdrawal options
Chase You Invest SoFi Invest
Bank transfer Yes Yes
Credit/debit card No No
Electronic wallets No No
Withdrawal fee $0 $0

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Web trading platform
2.9

Chase You Invest's web trading platform is exceptionally easy to use and it boasts a great search function. On the flip side, two-step authentication is missing, there are no clear fee reports and users can't set price alerts.
Pros Cons
User-friendly No clear fee report available
Good search function No two-step (safer) login
Order confirmation Limited customizability (for charts, workspace)
Web trading platform of Chase You Invest, a SoFi Invest alternative
SoFi Invest vs. Chase You Invest: Trading platform scores
Chase You Invest SoFi Invest
Web platform score 2.9 stars 3.2 stars
Mobile platform score 3.9 stars 4.5 stars
Desktop platform score - -

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

Markets and products
2.2

Chase You Invest has a limited product portfolio including stocks, ETFs, funds, bonds and options. Unfortunately, the product portfolio only includes assets traded on the US market.
SoFi Invest vs. Chase You Invest: Markets and products
Chase You Invest SoFi Invest
Stock Yes Yes
ETF Yes Yes
Forex No No
Fund Yes No
Bond Yes No
Options Yes No
Futures No No
CFD No No
Crypto No Yes

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Verdict

Chase You Invest offers awesome fees: the broker does not charge additional fees for trading US stocks, ETFs, mutual funds and US bonds. Some very low charges may apply to cover costs imposed by regulatory or stock exchange authorities (e.g. $0.01 - $0.03 per $1,000 principal for US stocks and ETFs). 

The fully digital account opening is easy and fast, on-boarding is seamless. Chase You Invest's parent company, J.P. Morgan, has a banking background, is listed on the New York Stock Exchange and is regulated by the SEC. 

Chase You Invest has some drawbacks, though. It is only available to US residents, the product portfolio is limited, with a heavy focus on US markets and the research tools are basic. 

In a nutshell, Chase You invest offers low-cost trading and has one of the most solid parent companies. Feel free to give it a try. 

Chase You Invest
Summary Chase You Invest is a brokerage solution offered by J.P. Morgan Securities LLC (a J.P. Morgan affiliate), regulated by top-tier US authorities the SEC and FINRA. J.P. Morgan is a NYSE-listed company with a banking background.
Fees score 4.9 stars
Recommended for Beginners and buy-and-hold investors focusing on the US stock market

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SoFi Invest alternatives
Vanguard

Note (February 08 2021): Due to an unexpected interest in the markets, some brokers experienced outages or temporary suspensions of confirming orders. We experienced that Vanguard had major platform outages in the recent time. Please be aware when trading, as you can get stuck in your positions. We'll keep monitoring the issue, and will update our scores if this issue still persists. If you're looking for similar brokers, feel free to check this article about alternatives brokers.

Vanguard is a US stockbroker founded in 1975. The company is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Vanguard is considered safe because it has a long track record and it is overseen by top-tier regulators.

Recommended for long-term investors who are looking for great etf and mutual fund offers

Pros Cons
Some ETFs and mutual funds are free to trade Only the US market covered
Easy account opening Basic research tools
Great mobile trading platform High financing rates (margin rates)

Fees
3.7

Vanguard offers free ETF trading and some mutual funds and bonds are free, too. The non-trading fees are low, no inactivity fee is charged and withdrawal is also free, if you use ACH transfer. On the negative side, the fees for non-free mutual funds are high. Financing rates are also high, especially in the lower volume tiers.
Pros Cons
No inactivity fee High margin rates
Free ETF trading High fees for non-free mutual funds
Some mutual funds and bonds are free to trade
SoFi Invest vs. Vanguard: Trading fees
Vanguard SoFi Invest
Apple benchmark fee $14.3 $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 is fully digital and user-friendly. There is no minimum account balance. However, the account opening and verification process is slow, around 2-3 business days.
Pros Cons
Fully digital Slow account opening time
No minimum deposit
Low minimum deposit
SoFi Invest vs. Vanguard: Minimum deposit, time to open an account
Vanguard SoFi Invest
Minimum deposit $0 $0
Time to open account 1-3 days 1-3 days

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

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Deposit and withdrawal
2.4

It's great that Vanguard charges no deposit fee and transferring money is easy and user-friendly. The deposit and withdrawal could be improved, though. You can use only bank transfer, and a fee is charged for wire transfer withdrawals.
Pros Cons
No deposit fee Credit/Debit card not available
User-friendly $10 for wire transfer withdrawals
Free withdrawal (via ACH)
SoFi Invest vs. Vanguard: Withdrawal options
Vanguard SoFi Invest
Bank transfer Yes Yes
Credit/debit card No No
Electronic wallets No No
Withdrawal fee $0 $0

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Web trading platform
3.4

Vanguard has an average web trading platform. It offers a two-step login and there is a clear fee report. The trading platform's structure is a bit confusing and some features are hard to find. Search functions could be better, too, and we missed customizability.
Pros Cons
Clear fee report Limited customizability (for charts, workspace)
Two-step (safer) login Some features are hard to find
Price alerts
Web trading platform of Vanguard, a SoFi Invest alternative
SoFi Invest vs. Vanguard: Trading platform scores
Vanguard SoFi Invest
Web platform score 3.4 stars 3.2 stars
Mobile platform score 4.4 stars 4.5 stars
Desktop platform score - -

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

Markets and products
2.8

Vanguard gives access to different asset classes, from stocks to options. However, the offered products cover only the US market and you can't trade with forex and futures.
SoFi Invest vs. Vanguard: Markets and products
Vanguard SoFi Invest
Stock Yes Yes
ETF Yes Yes
Forex No No
Fund Yes No
Bond Yes No
Options Yes No
Futures No No
CFD No No
Crypto No Yes

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Verdict

Vanguard is one of the biggest US stockbrokers regulated by top-tier regulators.

Vanguard offers free ETF and mutual fund trading for some products, such as its own ETFs. It doesn't charge inactivity and account fees and the account opening is easy and fully digital. The mobile trading platform is user-friendly and has a great design.

It has some drawbacks, though. The product portfolio covers only the US market and the research tools are basic. Financing rates are also high when you trade on margin.

As there are low non-trading fees and no inactivity fee is charged, feel free to try Vanguard.

Vanguard
Summary Vanguard is a US stockbroker regulated by the top-tier SEC and FINRA.
Fees score 3.7 stars
Recommended for Long-term investors who are looking for great ETF and mutual fund offers

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SoFi Invest alternatives
Bottom line

Based on our analysis, there are several good alternatives to SoFi Invest. They all offer similar products and target similar customers. Here's a recap of the results in a table.

SoFi Invest alternatives
Broker Info Recommended for
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
Webull US discount broker Investors and traders looking for zero-commission trading and focusing on US markets
Chase You Invest US-based discount broker Beginners and buy-and-hold investors focusing on the US stock market
Vanguard US stockbroker Long-term investors who are looking for great ETF and mutual fund offers

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

Author of this article

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-founder, CPO

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

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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