Compare Firstrade vs SoFi Invest


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

Firstrade vs SoFi Invest
overall rating
4.4
4.4
overall pros
  • Free stock, ETF, fund and options trading
  • Solid research tools
  • Quality educational tools
  • Free stocks and ETFs
  • Fast and fully digital account opening
  • Great customer support
overall cons
  • No credit/debit cards and electronic wallets for money transfer
  • You can trade only on US markets
  • No live chat or 24/7 availability
  • Available only for US clients
  • Limited product portfolio
  • Basic research tools
fees
4.7
  • Low trading fees
  • Low non-trading fees
  • Free stock, ETF, fund and options trading
  • High margin rates
5.0
  • Free stocks and ETFs
  • No withdrawal fee
  • No inactivity fee
account opening
4.4
  • Fully digital
  • No minimum deposit
  • Low minimum deposit
  • Slow account verification
4.4
  • Fast
  • Fully digital
  • No minimum deposit
  • Only US clients
deposit and withdrawal
2.0
  • No deposit fee
  • User-friendly
  • Credit/Debit card not available
  • Only one account base currency
  • 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
4.3
  • User-friendly
  • Clear fee report
  • Good search function
  • 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
2.8
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
1.7
  • Stock
  • ETF
  • Crypto
research
4.8
  • Good interactive chart
  • Trading ideas
  • Data on asset fundamentals
2.0
  • User-friendly
  • Limited interactive charting
  • Limited fundamental data
customer service
0.3
  • Email support
  • No live chat
  • No 24/7 support
  • Slow support
  • Irrelevant answers
  • Phone support didn't connect anyone
4.0
  • Live chat
  • Fast response time
  • Relevant answers
  • No 24/7 support
education
3.5
  • Trading platform tutorial
  • Educational videos
  • No demo account
1.5
  • Articles on SoFi blog
  • No demo account
  • No trading platform tutorial videos
  • No webinars
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • No negative balance protection
  • Does not hold a banking license
  • Not listed on stock exchange
  • 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 Beginners and investors looking for zero-commission trading, focusing on the US market Beginners and investors looking for zero-commission trading, focusing on the US market
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