MultiBank
SoFi Invest
Basic data of broker
Recommended for Forex and CFD traders familiar with the MetaTrader trading platform
Recommended for Beginners and investors looking for zero-commission trading, focusing on the US market
USA
USA
Fees
Low trading and non-trading fees, no withdrawal fee
Low trading and non-trading fees, free stock and ETF trading
Stock and ETF fees
Forex fees
Fund fees
Bond fees
Options fees
Futures fees
Crypto fees
CFD fees
Non-trading fees
Deposit and withdrawal
7
1
Deposit type
Withdrawal type
Account opening
$50
$0
1 day
1-3 days
Proof of identity: passport / driver's license Proof of residency: bank statement / utility bill
Proof of identity: SSN / passport / national ID card / driver's license / Proof of address
Trading platform
Markets and products
Disclaimer: 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Research, education
Mid-range
Poor
Customer service
Security
USD 1 million
$500,000 (securities up to $500,000, cash up to $250,000)
2005
2011
Australia, UAE, British Virgin Islands
USA
For detailed information and hands-on experience, read our review of this broker.
For detailed information and hands-on experience, read our review of this broker.
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.
MultiBank's service is slightly weaker than SoFi Invest's and a comparison of their fees shows that MultiBank's fees are higher than SoFi Invest's.
Account opening takes somewhat less effort at MultiBank compared to SoFi Invest, deposit and withdrawal processes are more seamless at MultiBank, while customer service quality is better than SoFi Invest's.
Our experts rated the trading platform of MultiBank as being of the same quality as the platform of SoFi Invest, found that clients have access to about the same number of markets and products with MultiBank, while SoFi Invest provides less useful research and education.