Compare HYCM vs SoFi Invest


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

HYCM vs SoFi Invest
overall rating
4.2
4.4
overall pros
  • Low forex and CFD fees
  • Great educational content
  • User-friendly account opening
  • Free stocks and ETFs
  • Fast and fully digital account opening
  • Great customer support
overall cons
  • Only forex and CFD products
  • Trading platforms have outdated design
  • Inactivity fee
  • Available only for US clients
  • Limited product portfolio
  • Basic research tools
fees
4.1
  • Low forex fees
  • Low CFD fees
  • Inactivity fee
5.0
  • Free stocks and ETFs
  • No withdrawal fee
  • No inactivity fee
account opening
5.0
  • Fast
  • Fully digital
  • Low minimum deposit
4.4
  • Fast
  • Fully digital
  • No minimum deposit
  • Only US clients
deposit and withdrawal
4.5
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
  • Average account currency selection
2.2
  • Free withdrawal
  • No deposit fee
  • User-friendly
  • Credit/Debit card not available
  • High fee for wire withdrawals
web trading platform
2.8
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Order confirmation
  • No two-step (safer) login
  • No price alerts
  • Poor design
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
3.8
  • User-friendly
  • Good search function
  • Price alerts
  • No two-step (safer) login
  • No Touch/Face ID login
4.5
  • User-friendly
  • Two-step (safer) login
  • Modern design
  • Limited order types
  • No unique price alerts
desktop trading platform
3.3
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Available in several languages
  • No two-step (safer) login
  • Poor design
markets and products
2.0
  • Forex
  • CFD
  • Crypto
1.7
  • Stock
  • ETF
  • Crypto
research
3.5
  • Trading ideas
  • User-friendly
  • Economic calendar
  • Limited interactive charting
  • Very low quality newsfeed
2.0
  • User-friendly
  • Limited interactive charting
  • Limited fundamental data
customer service
3.4
  • Phone support
  • Live chat
  • Fast response time
  • No 24/7 support
  • Mediocre email support
4.3
  • Live chat
  • Fast response time
  • Relevant answers
  • No 24/7 support
education
4.5
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Videos miss tags or categorization
1.5
  • Articles on SoFi blog
  • No demo account
  • No trading platform tutorial videos
  • No webinars
  • Negative balance protection
  • Not listed on stock exchange
  • Financial information is not publicly available
  • No investor protection outside the EU&UK
  • 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 Forex and CFD traders who prefer the MetaTrader platform Beginners and investors looking for zero-commission trading, focusing on the US market
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