Firstrade vs SoFi Invest® 2025
In this head to head comparison of Firstrade vs SoFi Invest®, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
In this head to head comparison of Firstrade vs SoFi Invest®, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
When choosing between Firstrade and SoFi Invest® for your investment needs, it's important to consider their various offerings and how they align with your goals. Firstrade stands out with a higher rating for its range of investments, earning 4.5 stars compared to SoFi Invest®'s 3.5 stars, and is ranked sixth by StockBrokers.com, while SoFi Invest® is ranked thirteenth. Both platforms offer comprehensive stock trading, margin trading, and fractional share trading options, but Firstrade's broader range of investments gives it a slight edge for those seeking a diverse portfolio.
Both Firstrade and SoFi Invest® provide access to mutual funds, options trading, and traditional as well as Roth IRA accounts, supporting a wide variety of investment strategies. An important point of similarity is the absence of forex and futures trading on both platforms, as well as the non-availability of cryptocurrency trading, which means neither offers digital coins for trading. These features might make them less suitable for investors particularly interested in crypto or forex markets.
While Firstrade and SoFi Invest® share several similar capabilities, a noticeable difference is SoFi Invest®’s advisor services, which may appeal to those seeking professional guidance. In contrast, Firstrade does not offer such services, which can make it more suitable for DIY investors who prefer managing their investments independently. Overall, the choice between Firstrade and SoFi Invest® boils down to personal preferences in investment strategy and the importance of advisory support.
Feature |
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Stock Trading | Yes | Yes |
Margin Trading | Yes | Yes |
Fractional Shares | Yes | Yes |
OTC Stocks | Yes | Yes |
Mutual Funds | Yes | Yes |
Options Trading | Yes | Yes |
Futures Trading | No | No |
Crypto Trading | No | No |
Crypto Trading - Total Coins | 0 | 0 |
Range of Investments |
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Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025
When evaluating the trading platforms and tools offered by Firstrade and SoFi Invest®, Firstrade clearly edges out with a more capable setup. Firstrade is ranked #11 out of 15 brokers for trading platforms and tools by StockBrokers.com, while SoFi Invest® is positioned at #15. Firstrade garners a three-star rating from five stars available, a significant step up from SoFi Invest’s 1.5-star rating. This suggests Firstrade may better satisfy users seeking a more comprehensive suite of trading tools.
Both Firstrade and SoFi Invest® offer browser-based trading platforms, allowing traders to access their accounts from any location. However, neither firm provides downloadable platforms for Windows or Mac users. Firstrade offers an extensive range of 50 watch list fields, in stark contrast to SoFi Invest® which only includes three. Furthermore, Firstrade users have access to 102 technical indicators and eight drawing tools for charting, enhancing its appeal for technically focused traders. Conversely, users at SoFi Invest® don't have any technical indicators or drawing tools available, signifying limitations for those interested in detailed chart analyses.
Both platforms lack features like paper trading and trading journals, so users may need to look elsewhere to hone their skills or log trading activities. Additionally, neither Firstrade nor SoFi Invest® offers the ability to adjust open orders directly on a stock chart. While neither broker supports advanced charting features such as automated technical analysis or saving multiple chart profiles, Firstrade does offer some unique elements like adding index overlays to its charts, further differentiating it from SoFi Invest®. Overall, traders seeking a better array of tools may find Firstrade more accommodating.
Feature |
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Web Trading Platform | Yes | Yes |
Desktop Trading Platform | No | No |
Desktop Platform (Mac) | No | No |
Paper Trading | No | No |
Watch Lists - Total Fields | 50 | 3 |
Charting - Indicators / Studies | 102 | 0 |
Charting - Drawing Tools | 8 | 0 |
Platforms & Tools |
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Dive deeper: Best Online Brokerage Accounts for 2025, Best Paper Trading Platforms for 2025
When it comes to investor education for beginners, Firstrade and SoFi Invest® both offer valuable resources, yet differ in the depth and range of their offerings. Firstrade covers stock and options education effectively through a mix of educational videos and webinars, providing a solid foundation for newcomers. However, it lacks resources for ETFs, mutual funds, and bonds, which are essential elements for a well-rounded investor education. In contrast, SoFi Invest® excels with a wider educational toolkit that includes resources for stocks, ETFs, options, mutual funds, and bonds, though it does not offer educational videos. While both brokers provide webinars, neither offers paper trading or educational quizzes to test your knowledge.
In terms of user ratings and rankings, SoFi Invest® stands out with a rating of 4.5 stars for education, securing the 6th spot in a StockBrokers.com ranking of 15 brokers. Firstrade, on the other hand, has a 3.5-star rating and is ranked 13th. Despite both lacking a feature to track learning progress, SoFi Invest®'s comprehensive educational resources may be more appealing to those seeking a broader understanding of various investment products. Firstrade, while offering certain strengths, might be better suited for beginners primarily interested in stock and options trading.
Feature |
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Education (Stocks) | Yes | Yes |
Education (ETFs) | No | Yes |
Education (Options) | Yes | Yes |
Education (Mutual Funds) | No | Yes |
Education (Bonds) | No | Yes |
Paper Trading | No | No |
Videos | Yes | No |
Webinars | Yes | Yes |
Education |
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Dive deeper: Best Stock Trading Platforms for Beginners of 2025
When comparing the stock trading app capabilities of Firstrade and SoFi Invest®, Firstrade emerges as the superior choice due to its broader range of features and higher ratings. Firstrade scores 4.5 out of 5 stars and ranks 9th among 15 brokers, thanks to its comprehensive offerings such as mobile options trading, streaming quotes, and advanced charting capabilities with 81 technical studies. On the other hand, SoFi Invest® is rated 3.5 stars and ranks 15th, providing fewer features like the absence of options trading, streaming quotes, and technical studies for charting.
Both Firstrade and SoFi Invest® offer iPhone and Android apps, ensuring accessibility for users on these platforms. However, neither provides an Apple Watch app. While Firstrade and SoFi Invest® allow users to view charts in multiple time frames, only Firstrade enables users to view charts in landscape mode, thus offering a more versatile trading experience on their mobile app. In addition, Firstrade sets itself apart with features like stock alerts and customizable watch lists, whereas SoFi Invest® lacks these capabilities.
In terms of after-hours functionality, Firstrade offers mobile after-hours stock trading, which is a plus for traders looking to be active outside regular market times. SoFi Invest® does not list this feature, potentially limiting trading flexibility. Neither platform provides streaming live TV or videos on demand, but with Firstrade's stronger service offerings and customizable features, it is positioned as the preferred option for those seeking a comprehensive stock trading app.
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iPhone App | Yes | Yes |
Android App | Yes | Yes |
Apple Watch App | No | No |
Stock Alerts | Yes | No |
Charting - After-Hours | No | No |
Charting - Technical Studies | 81 | 0 |
Mobile Trading Apps |
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Dive deeper: Best Stock Trading Apps for 2025
When choosing between Firstrade and SoFi Invest® for online brokerage services, both platforms present enticing offers for cost-conscious investors. Both brokers boast a $0 minimum deposit, allowing you to start investing without upfront financial barriers. They also offer commission-free trading for regular stock trades and options contracts, making them equally appealing in these areas. However, the distinguishing factors arise when considering margin rates, IRA closure fees, and account transfer charges. Firstrade tends to offer lower costs for account transfers, while SoFi Invest® provides more competitive margin rates.
For investors who utilize margin accounts, SoFi Invest® provides a better deal with a margin rate of 11.25% across balances below $25,000 and up to $99,999. In contrast, Firstrade's rates for the same ranges are notably higher, beginning at 13.75% for balances under $25,000 and decreasing slightly as balances increase. When it comes to IRAs, both platforms charge no annual fees, but SoFi Invest® imposes a $20 IRA closure fee, whereas Firstrade offers a hassle-free exit with no closure costs.
Regarding account transfers, Firstrade charges $55 for partial transfers and $75 for full transfers, both cheaper compared to SoFi Invest®'s flat $100 fee for either type of transfer. When executing options, Firstrade once again comes out on top, offering free options exercises and assignments, while SoFi Invest® charges $5 per transaction. Ultimately, if margin rates and fewer transaction-related fees are your priorities, SoFi Invest® is a solid choice. However, if minimizing transfer costs and ensuring free options actions are more important, Firstrade offers a more economical approach.
Feature |
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Minimum Deposit | $0.00 | $0.00 |
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 | $0.00 |
IRA Closure Fee | $0.00 | $20.00 |
Dive deeper: Best Free Trading Platforms for 2025
When comparing Firstrade and SoFi Invest® for day trading, both platforms show similarities in their offerings, or rather, the lack thereof. Neither Firstrade nor SoFi Invest® provide streaming time and sales for stocks, or streaming live TV, these features which day traders often find helpful for making quick, informed trading decisions. Additionally, both platforms do not offer direct market routing, ladder trading, or trading hotkeys, which can be valuable tools for more active traders looking for speed and efficiency.
Further, day traders seeking advanced features typically consider Level 2 quotes and strategy backtesting to be essential; unfortunately, both Firstrade and SoFi Invest® fall short in these areas. Neither broker offers Level 2 quotes for detailed market insight, nor do they provide options for basic or advanced strategy backtesting. Additionally, both lack a short locator tool for assessing short-selling opportunities and do not provide order liquidity rebates. For traders prioritizing these tools, alternative platforms may be more suitable for an enhanced trading experience.
Feature |
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Streaming Time & Sales | No | No |
Streaming TV | No | No |
Direct Market Routing - Stocks | No | No |
Level 2 Quotes - Stocks | No | No |
Trade Ideas - Backtesting | No | No |
Trade Ideas - Backtesting Adv | No | No |
Short Locator | No | No |
Dive deeper: Best Day Trading Platforms for 2025
When it comes to market research capabilities, Firstrade significantly outperforms SoFi Invest®. Firstrade shines with solid market research offerings, earning it a commendable 4.5-star rating and a ranking of sixth out of 15 brokers on StockBrokers.com. In stark contrast, SoFi Invest® struggles with its limited research tools, managing only a meager 0.5-star rating and ranking last in the same assessment.
Firstrade provides an extensive range of research options, including reports and analysis on stocks, ETFs, mutual funds, pink sheets/OTCBB, and bonds. Besides offering downloadable PDF reports for stocks and ETFs, Firstrade also provides insights from social media sentiment data and ESG (Environmental, Social, and Governance) research. On the other hand, SoFi Invest® falls short in these areas, offering none of these research resources, limiting its value to investors seeking detailed market insights.
Both platforms allow investors to visualize portfolio allocation by asset class, but Firstrade stands out by offering a variety of screeners to generate trade ideas across stocks, ETFs, mutual funds, and bonds. In contrast, SoFi Invest® does not provide any screener tools. This makes Firstrade a more comprehensive choice for investors looking for detailed data and research tools to guide their investment decisions.
Feature |
|
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Research - Stocks | Yes | No |
Screener - Stocks | Yes | No |
Research - ETFs | Yes | No |
Screener - ETFs | Yes | No |
Research - Mutual Funds | Yes | No |
Screener - Mutual Funds | Yes | No |
Research - Bonds | Yes | No |
Screener - Bonds | Yes | No |
Research |
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When comparing the banking features of Firstrade and SoFi Invest®, both platforms offer checking accounts and debit cards, making them a convenient choice for everyday spending. However, SoFi Invest® goes a step further by offering additional financial products, including savings accounts, credit cards, and mortgage loans. This makes SoFi Invest® a more comprehensive option for those seeking various banking services in one place. On the other hand, Firstrade stands out by providing certificates of deposit (CDs), which are not available through SoFi Invest®. This could appeal to investors looking for fixed-term investment options. Ultimately, the choice depends on whether you prioritize having access to a wider range of banking services or specific investment products like CDs.
Feature |
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Checking Accounts | Yes | Yes |
Savings Accounts | No | Yes |
Debit Cards | Yes | Yes |
Credit Cards | No | Yes |
Mortgage Loans | No | Yes |
CDs | Yes | No |
Dive deeper: Best Bank Accounts for Trading Stocks for 2025
After opening live accounts and testing 15 of the best online brokers, our research and live account testing finds that Firstrade is better than SoFi Invest®. Firstrade finished with an overall score of 81.8%, while SoFi Invest® finished with a score of 64.6%.
Firstrade scored well for penny stock trading in our 2024 Annual Awards, and is a great choice for Chinese-speaking investors. However, it lags behind the competition in certain areas, especially platforms, tools and education.
Firstrade and SoFi Invest® both do not offer crypto trading, with neither platform providing access to any cryptocurrency coins.
Dive deeper: Best Online Brokers for Crypto Trading in 2025
Firstrade and SoFi Invest® both offer traditional and Roth IRA accounts with no annual fees, but Firstrade has an edge by not charging any closure fee, while SoFi Invest® imposes a $20 charge for closing IRA accounts.
Dive deeper: Best IRA Accounts for 2025
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0 of 5Overall Rating | Firstrade | SoFi Invest® | |
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Platforms & Tools |
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Mobile Trading Apps |
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Research |
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Customer Service |
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Education |
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Ease Of Use |
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Winner | check_circle | ||
Review | Firstrade Review | SoFi Invest® Review |
Broker Screenshots | Firstrade | SoFi Invest® | |
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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 | Firstrade | SoFi Invest® | |
---|---|---|---|
Minimum Deposit | $0.00 | $0.00 | |
Stock Trades | $0.00 | $0.00 | |
Penny Stock Fees (OTC) | $0.00 | N/A | |
Mutual Fund Trade Fee | $0 | $0 | |
Options (Per Contract) | $0.00 | $0.00 | |
Futures (Per Contract) | (Not offered) | $0.00 | |
Broker Assisted Trade Fee | $19.95 | N/A |
Margin Rates | Firstrade | SoFi Invest® | |
---|---|---|---|
Margin Rate Under $25,000 | 13.75% | 11.25% | |
Margin Rate $25,000 to $49,999.99 | 13.50% | 11.25% | |
Margin Rate $50,000 to $99,999.99 | 13.00% | 11.25% | |
Margin Rate $100,000 to $249,999.99 | 12.50% | 11.25% | |
Margin Rate $250,000 to $499,999.99 | 12.50% | 11.25% | |
Margin Rate $500,000 to $999,999.99 | 12.50% | 11.25% | |
Margin Rate Above $1,000,000 | 12.50% | 11.25% |
Account Fees | Firstrade | SoFi Invest® | |
---|---|---|---|
IRA Annual Fee | $0.00 | $0.00 | |
IRA Closure Fee | $0.00 | $20.00 | |
Account Transfer Out (Partial) | $55.00 | $100.00 | |
Account Transfer Out (Full) | $75.00 | $100.00 | |
Options Exercise Fee | $0.00 | $5.00 | |
Options Assignment Fee | $0.00 | $5.00 |
Investment Options | Firstrade | SoFi Invest® | |
---|---|---|---|
Stock Trading | Yes | Yes | |
Margin Trading | Yes | Yes | |
Fractional Shares | Yes | Yes | |
OTC Stocks | Yes | Yes | |
Options Trading | Yes | Yes | |
Complex Options Max Legs | 4 | 0 | |
Futures Trading | No | No | |
Forex Trading | No | No | |
Crypto Trading | No | No | |
Crypto Trading - Total Coins | 0 | 0 | |
Mutual Funds (No Load) | 15460 | 0 | |
Mutual Funds (Total) | 19666 | 6000 | |
Bonds (US Treasury) | Yes | No | |
Bonds (Corporate) | Yes | No | |
Bonds (Municipal) | Yes | No | |
Traditional IRAs | Yes | Yes | |
Roth IRAs | Yes | Yes | |
Advisor Services | No | Yes | |
International Countries (Stocks) | 0 | 0 |
Order Types | Firstrade | SoFi Invest® | |
---|---|---|---|
Order Type - Market | Yes | Yes | |
Order Type - Limit | Yes | Yes | |
Order Type - After Hours | Yes | Yes | |
Order Type - Stop | Yes | No | |
Order Type - Trailing Stop | Yes | No | |
Order Type - OCO | Yes | No | |
Order Type - OTO | Yes | No | |
Order Type - Broker Assisted | Yes | No |
Beginners | Firstrade | SoFi Invest® | |
---|---|---|---|
Education (Stocks) | Yes | Yes | |
Education (ETFs) | No | Yes | |
Education (Options) | Yes | Yes | |
Education (Mutual Funds) | No | Yes | |
Education (Bonds) | No | Yes | |
Education (Retirement) | Yes | Yes | |
Retirement Calculator | Yes | No | |
Investor Dictionary | Yes | Yes | |
Paper Trading | No | No | |
Videos | Yes | No | |
Webinars | Yes | Yes | |
Webinars (Archived) | Yes | Yes | |
Progress Tracking | No | No | |
Interactive Learning - Quizzes | No | No |
Stock Trading Apps | Firstrade | SoFi Invest® | |
---|---|---|---|
iPhone App | Yes | Yes | |
Android App | Yes | Yes | |
Apple Watch App | No | No | |
Trading - Stocks | Yes | Yes | |
Trading - After-Hours | Yes | Yes | |
Trading - Simple Options | Yes | No | |
Trading - Complex Options | Yes | No | |
Order Ticket RT Quotes | Yes | Yes | |
Order Ticket SRT Quotes | Yes | No |
Stock App Features | Firstrade | SoFi Invest® | |
---|---|---|---|
Market Movers (Top Gainers) | Yes | Yes | |
Stream Live TV | No | No | |
Videos on Demand | No | No | |
Stock Alerts | Yes | No | |
Option Chains Viewable | Yes | No | |
Watch List (Real-time) | Yes | Yes | |
Watch List (Streaming) | Yes | No | |
Watch Lists - Create & Manage | Yes | No | |
Watch Lists - Column Customization | Yes | No |
Stock App Charting | Firstrade | SoFi Invest® | |
---|---|---|---|
Charting - After-Hours | No | No | |
Charting - Can Turn Horizontally | Yes | No | |
Charting - Multiple Time Frames | Yes | Yes | |
Charting - Technical Studies | 81 | 0 | |
Charting - Study Customizations | Yes | No | |
Charting - Stock Comparisons | No | No |
Trading Platforms | Firstrade | SoFi Invest® | |
---|---|---|---|
Active Trading Platform | N/A | N/A | |
Desktop Trading Platform | No | No | |
Desktop Platform (Mac) | No | No | |
Web Trading Platform | Yes | Yes | |
Paper Trading | No | No | |
Trade Journal | No | No | |
Watch Lists - Total Fields | 50 | 3 |
Stock Chart Features | Firstrade | SoFi Invest® | |
---|---|---|---|
Charting - Adjust Trades on Chart | No | No | |
Charting - Indicators / Studies | 102 | 0 | |
Charting - Drawing Tools | 8 | 0 | |
Charting - Notes | No | No | |
Charting - Index Overlays | Yes | No | |
Charting - Historical Trades | No | No | |
Charting - Corporate Events | No | No | |
Charting - Custom Date Range | No | No | |
Charting - Custom Time Bars | No | No | |
Charting - Automated Analysis | No | No | |
Charting - Save Profiles | No | No | |
Trade Ideas - Technical Analysis | Yes | No | |
Charting - Study Customizations | 6 | 0 | |
Charting - Custom Studies | No | No |
Day Trading | Firstrade | SoFi Invest® | |
---|---|---|---|
Streaming Time & Sales | No | No | |
Streaming TV | No | No | |
Direct Market Routing - Stocks | No | No | |
Ladder Trading | No | No | |
Trade Hotkeys | No | No | |
Level 2 Quotes - Stocks | No | No | |
Trade Ideas - Backtesting | No | No | |
Trade Ideas - Backtesting Adv | No | No | |
Short Locator | No | No | |
Order Liquidity Rebates | No | No |
Research Overview | Firstrade | SoFi Invest® | |
---|---|---|---|
Research - Stocks | Yes | No | |
Research - ETFs | Yes | No | |
Research - Mutual Funds | Yes | No | |
Research - Pink Sheets / OTCBB | Yes | No | |
Research - Bonds | Yes | No | |
Screener - Stocks | Yes | No | |
Screener - ETFs | Yes | No | |
Screener - Mutual Funds | Yes | No | |
Screener - Bonds | Yes | No | |
Misc - Portfolio Allocation | Yes | Yes |
Stock Research | Firstrade | SoFi Invest® | |
---|---|---|---|
Stock Research - PDF Reports | 1 | 0 | |
Stock Research - Earnings | Yes | No | |
Stock Research - Insiders | Yes | No | |
Stock Research - Social | Yes | No | |
Stock Research - News | Yes | Yes | |
Stock Research - ESG | Yes | No | |
Stock Research - SEC Filings | Yes | No |
ETF Research | Firstrade | SoFi Invest® | |
---|---|---|---|
ETFs - Strategy Overview | Yes | Yes | |
ETF Fund Facts - Inception Date | Yes | No | |
ETF Fund Facts - Expense Ratio | Yes | Yes | |
ETF Fund Facts - Net Assets | Yes | No | |
ETF Fund Facts - Total Holdings | Yes | No | |
ETFs - Top 10 Holdings | Yes | Yes | |
ETFs - Sector Exposure | Yes | No | |
ETFs - Risk Analysis | Yes | No | |
ETFs - Ratings | Yes | No | |
ETFs - Morningstar StyleMap | Yes | No | |
ETFs - PDF Reports | Yes | No |
Mutual Fund Research | Firstrade | SoFi Invest® | |
---|---|---|---|
Mutual Funds - Strategy Overview | Yes | No | |
Mutual Funds - Performance Chart | Yes | No | |
Mutual Funds - Performance Analysis | Yes | No | |
Mutual Funds - Prospectus | Yes | No | |
Mutual Funds - 3rd Party Ratings | Yes | No | |
Mutual Funds - Fees Breakdown | Yes | No | |
Mutual Funds - Top 10 Holdings | Yes | No | |
Mutual Funds - Asset Allocation | Yes | No | |
Mutual Funds - Sector Allocation | Yes | No | |
Mutual Funds - Country Allocation | Yes | No | |
Mutual Funds - StyleMap | Yes | No |
Options Trading | Firstrade | SoFi Invest® | |
---|---|---|---|
Option Chains - Basic View | Yes | Yes | |
Option Chains - Strategy View | Yes | No | |
Option Chains - Streaming | No | No | |
Option Chains - Total Columns | 8 | 0 | |
Option Chains - Greeks | 5 | 0 | |
Option Chains - Quick Analysis | No | No | |
Option Analysis - P&L Charts | Yes | No | |
Option Probability Analysis | No | No | |
Option Probability Analysis Adv | Yes | No | |
Option Positions - Greeks | No | No | |
Option Positions - Greeks Streaming | No | No | |
Option Positions - Adv Analysis | No | No | |
Option Positions - Rolling | Yes | No | |
Option Positions - Grouping | No | No |
Banking | Firstrade | SoFi Invest® | |
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Bank (Member FDIC) | No | Yes | |
Checking Accounts | Yes | Yes | |
Savings Accounts | No | Yes | |
Credit Cards | No | Yes | |
Debit Cards | Yes | Yes | |
Mortgage Loans | No | Yes |
Customer Service | Firstrade | SoFi Invest® | |
---|---|---|---|
Phone Support (Prospect Customers) | Yes | Yes | |
Phone Support (Current Customers) | Yes | Yes | |
Email Support | Yes | No | |
Live Chat (Prospect Customers) | Yes | Yes | |
Live Chat (Current Customers) | Yes | Yes | |
24/7 Support | No | No |
Overall | Firstrade | SoFi Invest® | |
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Research |
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Education |
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Ease Of Use |
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Winner | check_circle | ||
Review | Firstrade Review | SoFi Invest® Review |