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SoFi Invest Alternatives

May 2019
Our top picks for SoFi Invest alternatives
Robinhood
Fidelity

The best alternatives to SoFi Invest are

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

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 Fidelity Chase You Invest Firstrade
Overall score 4.2 4.1 4.7 4.5 4.5
Fees score 5 stars 4 stars 4 stars 5 stars 5 stars
Account opening score 5 stars 5 stars 3 stars 5 stars 4 stars
Deposit and withdrawal score 3 stars 3 stars 3 stars 2 stars 2 stars
Web platform score 3 stars 5 stars 5 stars 3 stars 4 stars
Markets and products score 1 stars 1 stars 3 stars 2 stars 2 stars
Visit broker Visit broker Visit broker Visit broker Visit broker

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 and focusing on us market
  • Robinhood is recommended for beginners and buy and hold investors focusing on the us stock market
  • Fidelity is recommended for beginners, investors, traders looking for solids research and great trading platforms
  • Chase You Invest is recommended for beginners and buy and hold investors focusing on the us stock market
  • Firstrade is recommended for beginners and investors looking for zero commission and focusing on us market

Important factors of finding SoFi Invest alternatives

So far Brokerchooser has reviewed 57 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.

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 SoFi Invest 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 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

4.2 4 stars

SoFi Invest logo

SoFi or Social Finance is a US-based fintech startup founded in 2009. SoFi is regulated by the Securities and Exchange Commission (SEC) and FINRA. SoFi Invest is the brand name of SoFi for zero-fee or discount brokerage services. 

SoFi Invest offers active and automated investing services. The prior means a self-directed account where you can trade with stocks and ETFs on your own. The SoFi Invest automated investing is a robo-advisory service where SoFi Invest handles your investments. In this review, we tested SoFi Invest active investing.

SoFi Invest is considered safe because it is regulated by the top-tier financial authorities and provides a maximum of $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 and focusing on us market

Pros
  • Free stocks and ETFs
  • Fast and fully digital account opening
  • Great customer support
Cons
  • Available only for US clients
  • Limited product portfolio
  • Basic research tools

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Fees 5 stars

SoFi Invest has low trading fees and low non-trading fees. It offers commission-free trades for US-based stocks and ETFs. There are no inactivity and withdrawal fees.
Pros
  • No withdrawal fee
  • No inactivity fee
  • Free stocks and ETFs
Cons
None
SoFi Invest alternatives trading fees
SoFi Invest Robinhood Fidelity Chase You Invest Firstrade
Apple benchmark fee $0.0 $0.0 $10.1 $6.1 $0.0
Vodafone benchmark fee - $100.0 $26.4 - -
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 Visit broker

Account opening 5 stars

Account opening at SoFi Invest is seamless and fully digital. Your account will be opened within a day. On the flip side, the account opening is available only for US clients.
Pros
  • Fast
  • Fully digital
  • No minimum deposit
Cons
  • Only US clients
SoFi Invest alternatives minimum deposit and account open times
SoFi Invest Robinhood Fidelity Chase You Invest Firstrade
Minimum deposit $0 $0 $0 $0 $0
Time to open account 1 day 1 day 1-3 days 1 day 1-3 days

Learn more about SoFi Invest minimum deposit here.

More Visit broker

Deposit and withdrawal 3 stars

SoFi Invest's deposit and withdrawal are free and user-friendly. On the negative side, credit/debit cards are not accepted and there is only USD as a base currency.
Pros
  • Free withdrawal
  • No deposit fee
  • User-friendly
Cons
  • Credit/Debit card not available
  • Only one account base currency
SoFi Invest and alternatives withdrawal options and fees
SoFi Invest Robinhood Fidelity Chase You Invest Firstrade
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No No No No No
Electronic wallets No No Yes No No
Withdrawal fee $0 $0 $0 $0 $0

More Visit broker

Web trading platform 3 stars

SoFi Invest has an OK web trading platform. It is user-friendly and has a clear design. However, it offers only market order, lacks customizability, and unique price alerts are missing.
Pros
  • User-friendly
  • Two-step (safer) login
  • Modern design
Cons
  • Limited customizability (for charts, workspace)
  • Only market order type
  • No unique price alerts
SoFi Invest - Web trading platform
SoFi Invest and alternatives trading platform scores
SoFi Invest Robinhood Fidelity Chase You Invest Firstrade
Web platform score 3 stars 5 stars 5 stars 3 stars 4 stars
Mobile platform score 4 stars 5 stars 5 stars 4 stars 3 stars
Desktop platform score - - 4 stars - -

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

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Markets and products 1 stars

SoFi Invest has a limited product portfolio. It offers only US-based stocks and ETFs. It lacks funds, bonds, forex, options, futures, or CFD.
SoFi Invest and alternatives markets and products
SoFi Invest Robinhood Fidelity Chase You Invest Firstrade
Stock Yes Yes Yes Yes Yes
ETF Yes Yes Yes Yes Yes
Forex No No No No No
Fund No No Yes Yes Yes
Bond No No Yes Yes Yes
Options No Yes Yes No Yes
Futures No No No No No
CFD No No No No No
Crypto No Yes No No No

More Visit broker

Verdict

SoFi Invest's fees are great. You can trade with US-based stocks and ETFs listed on major markets. The account opening is easy, fully digital, and fast. The customer service responses quickly and gives relevant answers.

SoFi Invest has some drawbacks though. It is available only for US clients. The product portfolio is really limited, covering only US stocks and ETFs. Lastly, research tools are very basic. 

As the account opening is seamless, and SoFi Invest offers commission-free stock and ETF trades, 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 stars
Recommended for Beginners and investors looking for zero commission and focusing on US market

More Visit broker

SoFi Invest alternatives
Robinhood

4.1 4 stars

Best for beginners

Robinhood logo

Robinhood is a US zero-fee or discount broker established in 2013. If you don't know what discount broker means, read this overview about the best discount brokers in 2018.

Robinhood is considered safe because it is supervised by FINRA, the US regulator and provides a maximum of $500,000 investor protection including a $250,000 limit for cash.

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

Pros
  • Commission-free US stock trading
  • Great mobile and web trading platforms
  • Fast and fully digital account opening
Cons
  • Available only for US and Australian clients
  • Weak customer support
  • Limited product portfolio

Visit broker

Fees 4 stars

US stock trading is free at Robinhood. There are no inactivity fee and withdrawal fees. On the flip side, Robinhood has really high commission for non-US stocks.
Pros
  • No withdrawal fee
  • No inactivity fee
  • Commission-free US stock trading
Cons
  • High financing rate
  • High trading fees of non-US stocks
SoFi Invest vs. Robinhood: Trading fees
Robinhood SoFi Invest
Apple benchmark fee $0.0 $0.0
Vodafone benchmark fee $100.0 -
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 Visit broker

Account opening 5 stars

Robinhood account opening is seamless and fully digital. Your account will be opened within a day. On the flip side, the account opening is only available for US and Australian clients.
Pros
  • Fast
  • Fully digital
  • No minimum deposit
  • User-friendly
Cons
  • It is only availalbe for the US and the Australian clients
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 day

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

More Visit broker

Deposit and withdrawal 3 stars

Robinhood deposit and withdrawal are very easy and user-friendly. On the flip side, you can only use bank transfer.
Pros
  • No deposit fee
  • User-friendly
  • Instant deposit up to $1,000 per week
Cons
  • Credit/Debit card not available
  • Lengthy deposit if you don't use the instant deposit
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

More Visit broker

Web trading platform 5 stars

Robinhood provides a well-designed and user-friendly web trading platform.
Pros
  • User-friendly
  • Clear fee report
  • Modern design
Cons
  • Customizability is missing
Web trading platform of Robinhood, a SoFi Invest alternative
SoFi Invest vs. Robinhood: Trading platform scores
Robinhood SoFi Invest
Web platform score 5 stars 3 stars
Mobile platform score 5 stars 4 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 stars

Robinhood's product portfolio is limited. It offers only stocks, ETFs, options, and cryptos. Furthermore, these assets are mainly limited to the US markets.
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 No

More Visit broker

Verdict

Robinhood fees are great. US stocks trading is commission-free, and there is no withdrawal or inactivity fee. Robinhood has awesome, user-friendly mobile and web trading platforms. The account opening is easy, fully digital, and fast.

Robinhood has some drawbacks though. It is available only for US and Australian clients. The customer support is poor, you can only reach them via e-mail and it takes time to get an answer. Most products you can trade with are just from the US market. 

If you want to trade with US stocks for free and prefer an easy-to-use platform, Robinhood is the best choice. 

Robinhood
Summary Robinhood is a US-based zero commission broker. It is regulated by FINRA, the top-tier US regulator.
Fees score 4 stars
Recommended for Beginners and buy and hold investors focusing on the US stock market

More Visit broker

SoFi Invest alternatives
Fidelity

4.7 5 stars

Fidelity logo

Fidelity was founded in 1946 and it is one of the biggest US stockbrokers. It is regulated by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA).

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

Recommended for beginners, investors, traders looking for solids research and great trading platforms

Pros
  • Solid research tools
  • Great web trading platform
  • US and international stocks offered
Cons
  • Lack of credit/debit cards for money transfer
  • Not fully digital account opening
  • High mutual fund fees

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Fees 4 stars

Fidelity has average trading fees and low non-trading fees. It even charges no commission for some ETFs, bonds, and mutual funds. On the negative side, the fees for mutual funds and the financing rates are high.
Pros
  • No inactivity fee
  • Transparent fee structure
  • Some ETFs, bonds, and mutual funds are free
Cons
  • High financing rate
  • High mutual fund fees
SoFi Invest vs. Fidelity: Trading fees
Fidelity SoFi Invest
Apple benchmark fee $10.1 $0.0
Vodafone benchmark fee $26.4 -
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 Visit broker

Account opening 3 stars

Opening an account at Fidelity is easy and fast, but not fully digital. The application had to be mailed with the relevant ID's photocopy.
Pros
  • Fast
  • No minimum deposit
Cons
  • Not fully digital
  • ID hardcopy was needed
SoFi Invest vs. Fidelity: Minimum deposit, time to open an account
Fidelity SoFi Invest
Minimum deposit $0 $0
Time to open account 1-3 days 1 day

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

More Visit broker

Deposit and withdrawal 3 stars

Fidelity offers bank transfer and electronic wallets as deposit and withdrawal options. Exceptionally wide range of base currencies is provided too. However, credit/debit cards are not accepted and the wire withdrawals are charged.
Pros
  • Several account base currencies
  • Electronic wallets
Cons
  • Credit/Debit card not available
  • $10 for outgoing wire transfers
SoFi Invest vs. Fidelity: Withdrawal options
Fidelity SoFi Invest
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets Yes No
Withdrawal fee $0 $0

More Visit broker

Web trading platform 5 stars

Fidelity's web platform is easy to use, has a lot of order types, and provides a two-step authentication. On the negative side, the web trading platform is not customizable.
Pros
  • User-friendly
  • Two-step (safer) login
  • Good variety of order types
Cons
  • Limited customizability (for charts, workspace)
Web trading platform of Fidelity, a SoFi Invest alternative
SoFi Invest vs. Fidelity: Trading platform scores
Fidelity SoFi Invest
Web platform score 5 stars 3 stars
Mobile platform score 5 stars 4 stars
Desktop platform score 4 stars -

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

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Markets and products 3 stars

Fidelity offers a lot of asset classes, from stocks to options. Within the stock offer, both the US and international markets covered. On the negative side, forex and futures are missing.
SoFi Invest vs. Fidelity: Markets and products
Fidelity 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 No

More Visit broker

Verdict

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

Fidelity's research is outstanding and covers many tools, including trading ideas and detailed fundamental data. The web trading platform is easy to use and offers advanced order types. The product offer covers international stock exchanges besides the US market, it's unique among the US brokers.

Fidelity has some drawbacks though. It doesn't provide credit/debit cards for money transfers. The account is not fully digital and the fees for mutual funds are quite high. 

As the research tools are great, the web trading platform is user-friendly, and no inactivity fee is charged, feel free to try Fidelity.

Fidelity
Summary Fidelity is a US stockbroker. It is regulated by top-tier regulators, the SEC and FINRA.
Fees score 4 stars
Recommended for Beginners, investors, traders looking for solids research and great trading platforms

More Visit broker

SoFi Invest alternatives
Chase You Invest

4.5 5 stars

Chase You Invest logo

Chase You Invest is a discount brokerage service released in 2018 by J.P. Morgan. The parent company, J.P. Morgan is a US investment bank and is also 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, J.P. Morgan has a long track record, is listed on stock exchange, has a banking background, and is regulated by top-tier regulators.

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

Pros
  • Low trading fees
  • Fast and fully digital account opening
  • Strong parent company
Cons
  • Available only for US clients
  • Limited product portfolio
  • Basic research tools

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Fees 5 stars

Chase You Invest has low trading fees and low non-trading fees. It offers 100 commission-free trades for US-based stock and ETF trades in the first year after the account opening. You can also trade with mutual funds for free.
Pros
  • Low trading fees
  • Low non-trading fees
  • No withdrawal fee
Cons
None
SoFi Invest vs. Chase You Invest: Trading fees
Chase You Invest SoFi Invest
Apple benchmark fee $6.1 $0.0
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 Visit broker

Account opening 5 stars

Account opening at Chase You Invest is seamless and fully digital. Your account will be opened within a day. On the flip side, the account opening is available only for US clients.
Pros
  • Fast
  • Fully digital
  • No minimum deposit
Cons
  • It is available only for US clients
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 day

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

More Visit broker

Deposit and withdrawal 2 stars

Chase You Invest deposit and withdrawal can be improved. You can use only bank transfer and there is a high fee for wire withdrawals if you are a non-Chase client. As a plus, there is no deposit fee and transferring money is easy and user-friendly.
Pros
  • No deposit fee
  • User-friendly
Cons
  • Credit/Debit card not available
  • Only one account base currency
  • High fee for wire withdrawal for non-Chase clients
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

More Visit broker

Web trading platform 3 stars

Chase You Invest has a mediocre web trading platform. It is very easy-to-use and has a great search function. However, it misses important features, like two-step authentication, clear fee report and price alerts.
Pros
  • User-friendly
  • Good search function
  • Modern design
Cons
  • No clear fee report available
  • No two-step (safer) login
  • No price alerts
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 3 stars 3 stars
Mobile platform score 4 stars 4 stars
Desktop platform score - -

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

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Markets and products 2 stars

Chase You Invest has limited product portfolio. It offers stock, ETF, fund, and bond. It lacks forex, options, futures, or CFD. Furthermore, the offered products cover only 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 No No
Futures No No
CFD No No
Crypto No No

More Visit broker

Verdict

Chase You Invest fees are great. You can trade with mutual funds for free and new clients have 100 commission-free trades for US-based stock and ETF in the first year. The account opening is easy, fully digital, and fast. J.P. Morgan is Chase You Invest's strong parent company. It has a banking background and listed on the New York Stock Exchange.

Chase You Invest has some drawbacks though. It is available only for US clients. The product portfolio is limited, covering only US markets and the stock, ETF, bond, and fund asset classes. Lastly, the research tools are basic. 

As the account opening is seamless, and Chase You Invest offers commission-free mutual funds and 100 commission-free stock and ETF trades, feel free to try it.

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 US top-tier regulators SEC and FINRA. J.P. Morgan is a NYSE listed company with banking background.
Fees score 5 stars
Recommended for Beginners and buy and hold investors focusing on the US stock market

More Visit broker

SoFi Invest alternatives
Firstrade

4.5 5 stars

Firstrade logo

Firstrade is a US discount stockbroker regulated by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA). The company was founded in 1985 under the name of First Flushing Securities.

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

Recommended for beginners and investors looking for zero commission and focusing on us market

Pros
  • Free stock, ETF, fund, and options trading
  • Solid research tools
  • Quality educational tools
Cons
  • No credit/debit cards and electronic wallets for money transfer
  • Only US market covered
  • Slow customer service and no 24/7

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Fees 5 stars

Firstrade offers free stock, ETF, fund, and options trading. The non-trading fees are low too. On the negative side, the fees for bonds are average and the financing rates are high.
Pros
  • Low non-trading fees
  • No withdrawal fee
  • Free stock, ETF, fund, and options
Cons
  • High financing rate
  • Average bond fees
SoFi Invest vs. Firstrade: Trading fees
Firstrade SoFi Invest
Apple benchmark fee $0.0 $0.0
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 Visit broker

Account opening 4 stars

The account opening is fully digital and user-friendly. Firstrade is available for non-US clients from selected countries. However, the account opening and verification takes a bit longer, 2-3 business days.
Pros
  • Fully digital
  • No minimum deposit
  • User-friendly
Cons
  • 1-3 business days account opening
SoFi Invest vs. Firstrade: Minimum deposit, time to open an account
Firstrade SoFi Invest
Minimum deposit $0 $0
Time to open account 1-3 days 1 day

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

More Visit broker

Deposit and withdrawal 2 stars

Firstrade deposit and withdrawal can be improved. You can use only bank transfer, there is only USD as a base currency, and a high fee is charged for wire transfer withdrawals. As a plus, there is no deposit fee and transferring money is easy and user-friendly.
Pros
  • No deposit fee
  • User-friendly
Cons
  • Credit/Debit card not available
  • Only one account base currency
  • High outgoing wire transfer fee
SoFi Invest vs. Firstrade: Withdrawal options
Firstrade SoFi Invest
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets No No
Withdrawal fee $0 $0

More Visit broker

Web trading platform 4 stars

Firstrade's web platform is simple and easy to use. Even beginners can easily navigate it. On the negative side, it lacks two-step login and the customizability is limited.
Pros
  • User-friendly
  • Clear fee report
  • Good search function
Cons
  • No two-step (safer) login
  • Limited customizability (for charts, workspace)
Web trading platform of Firstrade, a SoFi Invest alternative
SoFi Invest vs. Firstrade: Trading platform scores
Firstrade SoFi Invest
Web platform score 4 stars 3 stars
Mobile platform score 3 stars 4 stars
Desktop platform score - -

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

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Markets and products 2 stars

Firstrade offers different asset classes, from stocks to options. However, the offered products cover only the US market and you cannot trade with futures or forex.
SoFi Invest vs. Firstrade: Markets and products
Firstrade 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 No

More Visit broker

Verdict

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

Firstrade offers free stock, ETF, mutual fund, and options trading. It doesn't charge inactivity and account fees. There are a lot of quality research and educational tools.

It has some drawbacks though. Firstrade doesn't provide credit/debit cards and electronic wallets for transferring money. The product portfolio covers only the US market. The customer service could be faster and non-stop available. 

As there are low fees and no inactivity fee is charged, feel free to try Firstrade.

Firstrade
Summary Firstrade is a US discount broker regulated by the top-tier SEC and FINRA.
Fees score 5 stars
Recommended for Beginners and investors looking for zero commission and focusing on US market

More Visit broker

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 and focusing on US market
Robinhood US zero-fee discount broker Beginners and buy and hold investors focusing on the US stock market
Fidelity US stockbroker Beginners, investors, traders looking for solids research and great trading platforms
Chase You Invest US-based discount broker Beginners and buy and hold investors focusing on the US stock market
Firstrade US discount broker Beginners and investors looking for zero commission and focusing on US market

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

AUTHOR

Dan Sallai
Dan Sallai
CMO
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.
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