Compare Ally Invest vs SoFi Invest


Online brokers compared for fees, trading platforms, safety and more. See how Ally Invest stacks up against SoFi Invest!

Ally Invest vs SoFi Invest
overall rating
4.7
4.4
overall pros
  • Low trading and non-trading fees
  • Easy and fully digital account opening
  • Great education
  • Free stocks and ETFs
  • Fast and fully digital account opening
  • Great customer support
overall cons
  • You can trade only on US markets
  • Forex trading is available through a separate account
  • Lack of proper 2-step authentication
  • Available only for US clients
  • Limited product portfolio
  • Basic research tools
fees
4.5
  • Low trading fees
  • Low non-trading fees
  • Zero commission on most stocks and ETFs
  • Margin rates could be lower
5.0
  • Free stocks and ETFs
  • No withdrawal fee
  • No inactivity fee
account opening
4.4
  • Fully digital
  • Low minimum deposit
  • Slow account verification
4.4
  • Fast
  • Fully digital
  • No minimum deposit
  • Only US clients
deposit and withdrawal
2.6
  • No deposit fee
  • User-friendly
  • Free ACH withdrawal
  • Credit/Debit card not available
  • High outgoing wire transfer fee
2.2
  • Free withdrawal
  • No deposit fee
  • User-friendly
  • Credit/Debit card not available
  • High fee for wire withdrawals
web trading platform
3.5
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
  • No clear fee report available
  • No two-step (safer) login
3.2
  • User-friendly
  • Two-step (safer) login
  • Modern design
  • Limited customizability (for charts, workspace)
  • Limited order types
  • No unique price alerts
mobile trading platform
3.3
  • User-friendly
  • Good search function
  • Good variety of order types
  • No two-step (safer) login
  • No price alerts
  • Mutual funds and bonds are not covered
4.5
  • User-friendly
  • Two-step (safer) login
  • Modern design
  • Limited order types
  • No unique price alerts
desktop trading platform
markets and products
2.9
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
1.7
  • Stock
  • ETF
  • Crypto
research
3.8
  • Good interactive chart
  • Trading ideas
  • Good option strategy analyzer
  • Screener only for ETFs
2.0
  • User-friendly
  • Limited interactive charting
  • Limited fundamental data
customer service
3.5
  • Phone support
  • Live chat
  • 24/7 availability
  • Average speed of customer support
4.0
  • Live chat
  • Fast response time
  • Relevant answers
  • No 24/7 support
education
4.3
  • Trading platform tutorial
  • Educational videos
  • No demo account
1.5
  • Articles on SoFi blog
  • No demo account
  • No trading platform tutorial videos
  • No webinars
  • High level of investor protection
  • Banking background
  • Regulated by top-tier financial authorities in the US
  • No negative balance protection
  • No investor protection for forex
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Does not hold a banking license
  • Not listed on stock exchange
recommended for Investors and traders looking for low fees and focusing on the US market Beginners and investors looking for zero-commission trading, focusing on the US market
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