Are you confused about whether to choose SoFi vs E*TRADE as a broker for your investing needs?
In this side-by-side comparison, we analyse SoFi vs E*TRADE to help you understand how these apps compare on some of the most common features and make a better-informed decision about the best broker for you.
Below, you’ll find the pros and cons of each broker, as well as a comparison table that features the different fees charged, the financial instruments supported, the regulation, and more. Keep reading!
SoFi vs E*TRADE: In a Nutshell
Wide range of financial services (US investors only)
Sofi is a leading financial technology company that aims to revolutionize the way people manage their money and achieve their financial goals.
Whether it’s saving for a home, paying off student loans, or investing for the future, Sofi offers personalized solutions designed to empower its customers.
Furthermore, Sofi’s automated investing tools provide users with personalized portfolios and automated rebalancing, making investing accessible and convenient for everyone.
US beginner and intermediate investors
E*TRADE is an online brokerage platform that provides a user-friendly and accessible way for beginners to start investing in the stock market.
The platform offers real-time streaming quotes, customizable charts, and research tools to help you analyze stocks and make informed decisions.
E*TRADE provides a wealth of educational materials, including articles, videos, webinars, and interactive courses, to help beginners learn about investing and develop their knowledge and skills.
Pros and Cons
SoFi
Pros
- Commission-free stocks and ETF trading
- Broad range of low-cost investments
- Good customer support
- Access to financial advisors
- Student Loans Refinancing
Cons
- Membership requirements for additional benefits
- No tax-loss harvesting
E*TRADE
Pros
- 0% commission on US-listed stocks, ETFs, mutual funds, and options
- Wide range of investment products
- Automated investment portfolios
- Retirement accounts
- Good educational content
- Excellent customer support
Cons
- No international exchange trading (no European stocks, for example)
- Website can be dificult to navigate
- Fractional shares are not fully available
SoFi vs E*TRADE: Side-by-side Comparison
- General Information
- Founded in
- Demo Account
- Account Minimum
- Interest on unninvested cash (annually)
- Products
- Stocks
- ETFs
- Bonds
- Funds
- Options
- Futures
- CFDs
- Leverage Products
- Forex
- Cryptocurrencies
- Commodities
- Fees
- US stocks
- EU stocks
- ETFs
- Cryptocurrencies
- Custody Fee
- Inactivity Fee
- Withdrawal Fee
- Connectivity Fee
- Currency Conversion Fee
- Security
- Regulators
- Investor Compensation Scheme(per person, per institution)
Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.
