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eToro vs SoFi Invest® 2025

StockBrokers.com

Written by StockBrokers.com

October 30, 2024

In this head to head comparison of eToro vs SoFi Invest®, we will compare the trading platforms, mobile apps, investment options, costs, market research, and more. Let's dive in.

eToro
4/5 Stars Overall
  • Minimum Deposit: $50.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.00
SoFi Invest®
3.5/5 Stars Overall
  • Minimum Deposit: $5.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.00

Investment options

When comparing eToro and SoFi Invest® regarding their investment offerings, SoFi Invest® generally provides a more comprehensive suite of options. With a slightly higher rating of 3 stars for investment options compared to eToro's 2.5 stars, SoFi Invest® caters to a broader range of investors, supporting stock and fractional shares trading, margin trading, and access to mutual funds and OTC stocks. Additionally, SoFi Invest® offers clients options trading and traditional or Roth IRA accounts. While eToro also supports stock, options, and fractional shares trading, it differentiates itself with a focus on cryptocurrency trading, featuring 26 available coins.

For those interested in cryptocurrency investments, eToro stands out as it offers a robust crypto trading platform with 26 coins. In contrast, SoFi Invest® lacks in this area, not providing any cryptocurrency options. However, SoFi Invest® offers margin trading, OTC stocks, and retirement accounts, including traditional and Roth IRAs, which are not available through eToro. This variety makes SoFi Invest® a strong contender for investors seeking a more diverse portfolio including traditional investment vehicles.

Both platforms have their distinct advantages, making them suitable for different types of investors. eToro excels with its focus on cryptocurrency but falls short in other areas like mutual funds and retirement accounts. Conversely, SoFi Invest® delivers a more balanced approach with options for margin trading, mutual funds, and advisor services, appealing to traditional investors. Ultimately, the choice between eToro and SoFi Invest® depends on individual investment goals and preferences, especially regarding cryptocurrency and retirement planning.

Feature eToro logoeToro
SoFi Invest® logoSoFi Invest®
Stock Trading info Yes Yes
Margin Trading No Yes
Fractional Shares info Yes Yes
OTC Stocks info No Yes
Mutual Funds info No Yes
Options Trading info Yes Yes
Futures Trading info No No
Crypto Trading info Yes No info
Crypto Trading - Total Coins info 26 0
Investment Options 2.5/5 Stars 3/5 Stars

Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025

Trading platforms and tools

When deciding between eToro and SoFi Invest® for online trading platforms, it's important to consider your specific needs and preferences. eToro tends to excel with its rating of 3.5 stars and a #12 ranking from StockBrokers.com, benefiting from comprehensive charting tools and customizable features. On the other hand, SoFi Invest® has received a 2.5-star rating and falls to #15 in ranking, suggesting that its platform might not be as robust or feature-rich for those seeking advanced trading tools. If you're looking for a platform with a broader range of technical indicators and charting capabilities, eToro is likely the better fit. However, for those who prioritize simplicity and are primarily interested in basic trading functionality, SoFi Invest® could suffice.

Both eToro and SoFi Invest® offer browser-based platforms but do not support desktop downloads for Windows or Mac. eToro stands out with features like paper trading and a more extensive watch list with seven fields compared to SoFi's three. It also provides significant charting capabilities with 46 technical indicators and 48 drawing tools, outmatching SoFi's lack of such features. eToro users can add notes to charts and save multiple chart profiles, which are beneficial for organized and analytical trading. In contrast, SoFi Invest® lacks these functionalities, making it less appealing for traders who rely heavily on technical analysis.

Overall, while both platforms offer basic trading functionalities, eToro provides a more advanced suite of tools and customization options catering to more sophisticated traders. SoFi Invest®, with its simpler setup, might be better suited for beginners or those who do not require extensive charting capabilities. Depending on your investment style and needs, either platform could serve as a practical choice, but eToro generally offers more in terms of trading tools and flexibility.

Feature eToro logoeToro
SoFi Invest® logoSoFi Invest®
Web Trading Platform info Yes Yes
Desktop Trading Platform info No No
Desktop Platform (Mac) info No No
Paper Trading info Yes No
Watch Lists - Total Fields info 7 3
Charting - Indicators / Studies info 46 0
Charting - Drawing Tools info 48 0
Platforms & Tools 3.5/5 Stars 2.5/5 Stars

Dive deeper: Best Stock Brokers & Trading Platforms for 2025, Best Paper Trading Platforms for 2025

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Beginners and education

When assessing eToro and SoFi Invest® for their educational resources geared towards beginners and investors, it is evident that each platform offers unique strengths. eToro provides stock education and engages users with interactive tools like paper trading and educational videos, which can be invaluable for hands-on learning. However, eToro lacks in-depth educational content on ETFs, options, mutual funds, and bonds, potentially limiting users seeking comprehensive knowledge across different investment vehicles. Additionally, the absence of webinars and educational quizzes might affect the learning experience for those who prefer a structured educational strategy. eToro's educational offerings are rated 2.5 out of 5 stars, and it ranks 16th among 18 brokers in education according to StockBrokers.com.

SoFi Invest®, on the other hand, stands out for its extensive educational resources covering stock, ETF, options, mutual fund, and bonds education. This widespread coverage makes it an excellent choice for beginners looking to deepen their understanding across a broad spectrum of investment types. While SoFi Invest® does not offer paper trading or educational videos, its strength lies in providing webinars, fostering a more interactive and engaging learning environment. Despite the absence of educational quizzes and learning progress tracking, SoFi Invest® achieves an impressive 4.5-star education rating and is ranked 7th among 18 brokers by StockBrokers.com, reflecting its robust educational support for investors at different experience levels.

Feature eToro logoeToro
SoFi Invest® logoSoFi Invest®
Education (Stocks) info Yes Yes
Education (ETFs) info No Yes
Education (Options) info No Yes
Education (Mutual Funds) info No Yes
Education (Bonds) info No Yes
Paper Trading info Yes No
Videos info Yes No
Webinars info No Yes
Education 2.5/5 Stars 4.5/5 Stars

Dive deeper: Best Stock Trading Platforms for Beginners of 2025

Stock trading apps

When comparing eToro and SoFi Invest® for their stock trading app capabilities, eToro stands out as the more versatile and comprehensive option. With a higher rating of 4.5 stars compared to SoFi Invest®'s 3-star rating, eToro offers a range of features that cater to more advanced traders. eToro’s overall rank of 11th among 18 brokers by StockBrokers.com positions it ahead of SoFi Invest®, which ranks 16th, indicating eToro’s superior performance and features.

Both eToro and SoFi Invest® are accessible via iPhone and Android apps, making mobile trading convenient for users. However, eToro does not support trading through an Apple Watch app, and neither does SoFi Invest®. Notably, while eToro does not allow mobile after-hours stock trading, SoFi Invest® shares this limitation. eToro provides mobile options trading, which is absent in SoFi Invest®, giving users more flexibility. Users of eToro can also benefit from streaming quotes and videos on demand as part of its app offerings, features that are missing from the SoFi Invest® app.

eToro surpasses SoFi Invest® in providing stock alerts, custom watch lists, and after-hours charting, which enrich the user’s trading experience. Though neither app supports viewing charts in landscape mode or customizing watch list columns, eToro permits viewing multiple time frames for charting and a substantial 103 technical studies are available in its mobile app, compared to SoFi Invest®'s absence of technical studies. Additionally, stock comparison on charts is an eToro exclusive feature, further enhancing its analytical capabilities over SoFi Invest®.

Feature eToro logoeToro
SoFi Invest® logoSoFi Invest®
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No No
Stock Alerts info Yes No
Charting - After-Hours info Yes No
Charting - Technical Studies info 103 0
Mobile Trading Apps 4.5/5 Stars 3/5 Stars

Dive deeper: Best Stock Trading Apps for 2025

Fees

When comparing eToro and SoFi Invest® for account fees and other charges, it's important to consider the specific needs and priorities of each investor. eToro and SoFi Invest® both offer commission-free regular stock trades, making them attractive for investors looking to minimize transaction costs. However, eToro requires a higher minimum deposit of $50 compared to SoFi Invest®'s $5, potentially making SoFi Invest® more accessible for those just starting with lower initial investments. Additionally, for those interested in options trading, both platforms offer commission-free per options contracts, but SoFi Invest® applies a $5 fee for options exercise and assignment, whereas eToro charges nothing.

Examining the platforms' handling of margin balances, eToro does not offer margin trading, while SoFi Invest® charges an 11.25% rate for balances under $100,000. This could be a decisive factor for investors interested in leveraging their investments. Regarding retirement accounts, SoFi Invest® takes the lead by imposing no annual fees for IRAs, although it does charge a $20 closure fee. Unfortunately, information on eToro's IRA fees is not specified, potentially leaving investors seeking transparency in this area with a choice to make.

For account transfers, eToro provides more competitive pricing for both partial and full account transfers, with a $75 charge compared to SoFi Invest®'s $100 fee. This difference may influence investors who anticipate moving assets frequently. Overall, while both platforms have their strengths, individuals must assess which aspects—such as required minimum deposits, margin trading capabilities, retirement account fees, and transfer costs—align best with their financial strategies and investment goals.

Feature eToro logoeToro
SoFi Invest® logoSoFi Invest®
Minimum Deposit $50.00 $5.00
Stock Trades $0.00 $0.00
Options (Per Contract) $0.00 $0.00
Options Exercise Fee $0.00 $5.00
Options Assignment Fee $0.00 $5.00
IRA Annual Fee $0.00
IRA Closure Fee $20.00
Commissions & Fees 4.5/5 Stars 4.5/5 Stars

Dive deeper: Best Free Trading Platforms for 2025

Day Trading

When it comes to the world of day trading, eToro and SoFi Invest® offer platforms that cater to different needs, albeit with certain limitations for active traders. eToro stands out by providing streaming time and sales for stocks, allowing traders to observe real-time transaction data, which is crucial for making informed trading decisions. However, both platforms lack several advanced features commonly sought by professional day traders, such as direct market routing, ladder trading, trading hotkeys for keyboard trade entry, level 2 quotes, and both basic and advanced strategy backtesting.

Neither eToro nor SoFi Invest® offers streaming live TV, which might be of interest to traders looking for live news updates. Additionally, they do not provide a short locator tool for real-time short selling options nor order liquidity rebates, which are beneficial for traders who engage frequently in trades or those who aim to maximize liquidity options. Ultimately, while eToro provides somewhat more robust features for active trading with its real-time stock data, both platforms might fall short for traders seeking a comprehensive set of day trading tools.

Feature eToro logoeToro
SoFi Invest® logoSoFi Invest®
Streaming Time & Sales info Yes No
Streaming TV info No No
Direct Market Routing - Stocks info No No
Level 2 Quotes - Stocks info No No
Trade Ideas - Backtesting info No No
Trade Ideas - Backtesting Adv info No No
Short Locator info No No

Dive deeper: Best Day Trading Platforms for 2025

Market Research

When evaluating the market research capabilities of eToro and SoFi Invest®, eToro stands out with more comprehensive research offerings compared to SoFi Invest®. eToro provides stock and ETFs research, utilizes social media sentiment data, and includes ESG (Environmental, Social, and Governance) research. Meanwhile, SoFi Invest® lacks these features, focusing more on offering insights into portfolio allocation by asset class. With eToro rated 3 out of 5 stars for market research and SoFi trailing with 2 stars, eToro ranks higher at 12th place while SoFi Invest® lands at the 18th position out of 18 brokers reviewed by StockBrokers.com.

eToro enhances its research capabilities by integrating social media sentiment data into stock analysis and offering ESG research — both areas where SoFi Invest® falls short. While neither platform provides mutual fund research, bond research, or downloadable PDF research reports for stocks and ETFs, eToro's inclusion of essential stock and ETF research gives it an upper hand. However, neither broker offers dedicated screeners for trade ideas across various asset classes, limiting the depth of their research tools.

While SoFi Invest® might appeal to those interested in understanding their portfolio allocation by asset class, it lacks the breadth of market research essential for informed trading decisions. On the other hand, eToro provides broader research options, especially for socially-conscious investors and those interested in real-time market sentiment, making it slightly more attractive for traders seeking diverse insights and rankings. Both platforms, however, share limitations in providing downloadable reports and screeners, potentially curbing their appeal to research-focused traders.

Feature eToro logoeToro
SoFi Invest® logoSoFi Invest®
Research - Stocks info Yes No
Screener - Stocks info No No
Research - ETFs info Yes No
Screener - ETFs info No No
Research - Mutual Funds info No No
Screener - Mutual Funds info No No
Research - Bonds info No No
Screener - Bonds info No No
Research 3/5 Stars 2/5 Stars

Banking

When evaluating the banking capabilities of online brokers eToro and SoFi Invest®, SoFi Invest® clearly stands out with a comprehensive range of services. Unlike eToro, SoFi Invest® offers checking and savings accounts, giving users the flexibility to manage their finances effectively. Additionally, SoFi Invest® provides debit and credit card options, enhancing transactional convenience for users. Moreover, SoFi Invest® also extends mortgage loan offerings, making it a robust choice for those seeking extensive financial services under one platform. In contrast, eToro does not offer any of these banking features, focusing primarily on trading and investment services. It's important to note that neither eToro nor SoFi Invest® offers Certificates of Deposit (CDs).

Feature eToro logoeToro
SoFi Invest® logoSoFi Invest®
Checking Accounts info No Yes
Savings Accounts info No Yes
Debit Cards info No Yes
Credit Cards info No Yes
Mortgage Loans info No Yes
CDs info No No

Dive deeper: Best Bank Accounts for Trading Stocks for 2025

Winner

After opening live accounts and testing 18 of the best online brokers, our research and live account testing finds that eToro is better than SoFi Invest®. eToro finished with an overall score of 76.7%, while SoFi Invest® finished with a score of 73.7%.

Though its offerings have some limitations, eToro's approach will appeal to those interested in learning how to trade crypto or joining a crypto-focused community. The scope currently is limited in the U.S., so those looking for more advanced trading or trading a variety of underlyings will want to look elsewhere.

FAQs

Can you trade cryptocurrency with eToro or SoFi Invest®?

eToro and SoFi Invest® both serve as prominent online brokers, yet they differ significantly in cryptocurrency offerings; eToro provides trading access to 26 cryptocurrencies, while SoFi Invest® currently does not support crypto trading.

Dive deeper: Best Online Brokers for Crypto Trading in 2025

Does eToro or SoFi Invest® offer IRAs?

eToro does not offer traditional or Roth IRA accounts, whereas SoFi Invest® provides both types of IRA accounts with no annual fees, though it charges a $20.00 closure fee for closing these accounts.

Dive deeper: Best IRA Accounts for 2025

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Compare

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Overall Rating eToro SoFi Invest®
Overall 4/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 2.5/5 Stars 3/5 Stars
Platforms & Tools 3.5/5 Stars 2.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 3/5 Stars
Research 3/5 Stars 2/5 Stars
Customer Service N/A 4/5 Stars
Education 2.5/5 Stars 4.5/5 Stars
Ease Of Use 4/5 Stars 4.5/5 Stars
Winner check_circle
Review eToro Review SoFi Invest® Review
Broker Screenshots eToro SoFi Invest®
Trading Platform & Tools Gallery (click to expand)
Research Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Trading Fees eToro SoFi Invest®
Minimum Deposit $50.00 $5.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) info N/A N/A
Mutual Fund Trade Fee N/A $0
Options (Per Contract) $0.00 $0.00
Futures (Per Contract) (Not offered) $0.00
Broker Assisted Trade Fee $0 N/A
Margin Rates eToro SoFi Invest®
Margin Rate Under $25,000 Not offered 11.25%
Margin Rate $25,000 to $49,999.99 Not offered 11.25%
Margin Rate $50,000 to $99,999.99 Not offered 11.25%
Margin Rate $100,000 to $249,999.99 Not offered 11.25%
Margin Rate $250,000 to $499,999.99 Not offered 11.25%
Margin Rate $500,000 to $999,999.99 Not offered 11.25%
Margin Rate Above $1,000,000 Not offered 11.25%
Account Fees eToro SoFi Invest®
IRA Annual Fee $0.00
IRA Closure Fee $20.00
Account Transfer Out (Partial) info $75.00 $100.00
Account Transfer Out (Full) info $75.00 $100.00
Options Exercise Fee $0.00 $5.00
Options Assignment Fee $0.00 $5.00
Investment Options eToro SoFi Invest®
Stock Trading info Yes Yes
Margin Trading No Yes
Fractional Shares info Yes Yes
OTC Stocks info No Yes
Options Trading info Yes Yes
Complex Options Max Legs info 0 0
Futures Trading info No No
Forex Trading info No No
Crypto Trading info Yes No info
Crypto Trading - Total Coins info 26 0
Mutual Funds (No Load) info 0 0
Mutual Funds (Total) info 0 6000
Bonds (US Treasury) info No No
Bonds (Corporate) info No No
Bonds (Municipal) info No No
Traditional IRAs info No Yes
Roth IRAs info No Yes
Advisor Services info No Yes
International Countries (Stocks) info 0 0
Order Types eToro SoFi Invest®
Order Type - Market info Yes Yes
Order Type - Limit info No Yes
Order Type - After Hours info No Yes
Order Type - Stop info Yes No
Order Type - Trailing Stop info Yes No
Order Type - OCO info No No
Order Type - OTO info No No
Order Type - Broker Assisted info No No
Beginners eToro SoFi Invest®
Education (Stocks) info Yes Yes
Education (ETFs) info No Yes
Education (Options) info No Yes
Education (Mutual Funds) info No Yes
Education (Bonds) info No Yes
Education (Retirement) info No Yes
Retirement Calculator info No No
Investor Dictionary info No Yes
Paper Trading info Yes No
Videos info Yes No
Webinars info No Yes
Webinars (Archived) info No Yes
Progress Tracking info No No
Interactive Learning - Quizzes info No No
Stock Trading Apps eToro SoFi Invest®
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No No
Trading - Stocks info Yes Yes
Trading - After-Hours info No Yes
Trading - Simple Options info Yes No
Trading - Complex Options info No No
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info Yes No
Stock App Features eToro SoFi Invest®
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info No No
Videos on Demand info Yes No
Stock Alerts info Yes No
Option Chains Viewable info Yes No
Watch List (Real-time) info Yes Yes
Watch List (Streaming) info Yes No
Watch Lists - Create & Manage info Yes No
Watch Lists - Column Customization info No No
Stock App Charting eToro SoFi Invest®
Charting - After-Hours info Yes No
Charting - Can Turn Horizontally info No No
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 103 0
Charting - Study Customizations info Yes No
Charting - Stock Comparisons info Yes No
Trading Platforms eToro SoFi Invest®
Active Trading Platform info N/A N/A
Desktop Trading Platform info No No
Desktop Platform (Mac) info No No
Web Trading Platform info Yes Yes
Paper Trading info Yes No
Trade Journal info No No
Watch Lists - Total Fields info 7 3
Stock Chart Features eToro SoFi Invest®
Charting - Adjust Trades on Chart info No No
Charting - Indicators / Studies info 46 0
Charting - Drawing Tools info 48 0
Charting - Notes info Yes No
Charting - Index Overlays info Yes No
Charting - Historical Trades info No No
Charting - Corporate Events info No No
Charting - Custom Date Range info No No
Charting - Custom Time Bars info No No
Charting - Automated Analysis info No No
Charting - Save Profiles info Yes No
Trade Ideas - Technical Analysis info Yes No
Charting - Study Customizations info 5 0
Charting - Custom Studies info No No
Day Trading eToro SoFi Invest®
Streaming Time & Sales info Yes No
Streaming TV info No No
Direct Market Routing - Stocks info No No
Ladder Trading info No No
Trade Hotkeys info No No
Level 2 Quotes - Stocks info No No
Trade Ideas - Backtesting info No No
Trade Ideas - Backtesting Adv info No No
Short Locator info No No
Order Liquidity Rebates info No No
Research Overview eToro SoFi Invest®
Research - Stocks info Yes No
Research - ETFs info Yes No
Research - Mutual Funds info No No
Research - Pink Sheets / OTCBB info No No
Research - Bonds info No No
Screener - Stocks info No No
Screener - ETFs info No No
Screener - Mutual Funds info No No
Screener - Bonds info No No
Misc - Portfolio Allocation info No Yes
Stock Research eToro SoFi Invest®
Stock Research - PDF Reports info 0 0
Stock Research - Earnings info Yes No
Stock Research - Insiders info Yes No
Stock Research - Social info Yes No
Stock Research - News info Yes Yes
Stock Research - ESG info Yes No
Stock Research - SEC Filings info Yes No
ETF Research eToro SoFi Invest®
ETFs - Strategy Overview info Yes Yes
ETF Fund Facts - Inception Date info No No
ETF Fund Facts - Expense Ratio info No Yes
ETF Fund Facts - Net Assets info No No
ETF Fund Facts - Total Holdings info No No
ETFs - Top 10 Holdings info No Yes
ETFs - Sector Exposure info No No
ETFs - Risk Analysis info No No
ETFs - Ratings info Yes No
ETFs - Morningstar StyleMap info No No
ETFs - PDF Reports info No No
Mutual Fund Research eToro SoFi Invest®
Mutual Funds - Strategy Overview info No No
Mutual Funds - Performance Chart info No No
Mutual Funds - Performance Analysis info No No
Mutual Funds - Prospectus info No No
Mutual Funds - 3rd Party Ratings info No No
Mutual Funds - Fees Breakdown info No No
Mutual Funds - Top 10 Holdings info No No
Mutual Funds - Asset Allocation info No No
Mutual Funds - Sector Allocation info No No
Mutual Funds - Country Allocation info No No
Mutual Funds - StyleMap info No No
Options Trading eToro SoFi Invest®
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info No No
Option Chains - Streaming info No No
Option Chains - Total Columns info 0 0
Option Chains - Greeks info 4 0
Option Chains - Quick Analysis info Yes No
Option Analysis - P&L Charts info No No
Option Probability Analysis info No No
Option Probability Analysis Adv info No No
Option Positions - Greeks info No No
Option Positions - Greeks Streaming info No No
Option Positions - Adv Analysis info No No
Option Positions - Rolling info No No
Option Positions - Grouping info No No
Banking eToro SoFi Invest®
Bank (Member FDIC) info No Yes
Checking Accounts info No Yes
Savings Accounts info No Yes
Credit Cards info No Yes
Debit Cards info No Yes
Mortgage Loans info No Yes
Customer Service eToro SoFi Invest®
Phone Support (Prospect Customers) info No Yes
Phone Support (Current Customers) info No Yes
Email Support info Yes No
Live Chat (Prospect Customers) info Yes Yes
Live Chat (Current Customers) info Yes Yes
24/7 Support info No No
Overall eToro SoFi Invest®
Overall 4/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 2.5/5 Stars 3/5 Stars
Platforms & Tools 3.5/5 Stars 2.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 3/5 Stars
Research 3/5 Stars 2/5 Stars
Education 2.5/5 Stars 4.5/5 Stars
Ease Of Use 4/5 Stars 4.5/5 Stars
Winner check_circle
Review eToro Review SoFi Invest® Review
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