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Firstrade vs SoFi Invest® 2025

StockBrokers.com

Written by StockBrokers.com

March 11, 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.

Firstrade
4/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.00
SoFi Invest®
3/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.00

Range of investments

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 Firstrade logoFirstrade
SoFi Invest® logoSoFi Invest®
Stock Trading info Yes Yes
Margin Trading info Yes Yes
Fractional Shares info Yes Yes
OTC Stocks info Yes Yes
Mutual Funds info Yes Yes
Options Trading info Yes Yes
Futures Trading info No No
Crypto Trading info No No info
Crypto Trading - Total Coins info 0 0
Range of Investments 4.5/5 Stars 3.5/5 Stars

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

Trading platforms and tools

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 Firstrade logoFirstrade
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 No No
Watch Lists - Total Fields info 50 3
Charting - Indicators / Studies info 102 0
Charting - Drawing Tools info 8 0
Platforms & Tools 3/5 Stars 1.5/5 Stars

Dive deeper: Best Online Brokerage Accounts for 2025, Best Paper Trading Platforms for 2025

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Beginners and education

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 Firstrade logoFirstrade
SoFi Invest® logoSoFi Invest®
Education (Stocks) info Yes Yes
Education (ETFs) info No Yes
Education (Options) info Yes Yes
Education (Mutual Funds) info No Yes
Education (Bonds) info No Yes
Paper Trading info No No
Videos info Yes No
Webinars info Yes Yes
Education 3.5/5 Stars 4.5/5 Stars

Dive deeper: Best Stock Trading Platforms for Beginners of 2025

Stock trading apps

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.

Feature Firstrade logoFirstrade
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 No No
Charting - Technical Studies info 81 0
Mobile Trading Apps 4.5/5 Stars 3.5/5 Stars

Dive deeper: Best Stock Trading Apps for 2025

Fees

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 Firstrade logoFirstrade
SoFi Invest® logoSoFi Invest®
Minimum Deposit info $0.00 $0.00
Stock Trades info $0.00 $0.00
Options (Per Contract) info $0.00 $0.00
Options Exercise Fee info $0.00 $5.00
Options Assignment Fee info $0.00 $5.00
IRA Annual Fee info $0.00 $0.00
IRA Closure Fee info $0.00 $20.00

Dive deeper: Best Free Trading Platforms for 2025

Day Trading

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 Firstrade logoFirstrade
SoFi Invest® logoSoFi Invest®
Streaming Time & Sales info No 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 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 Firstrade logoFirstrade
SoFi Invest® logoSoFi Invest®
Research - Stocks info Yes No
Screener - Stocks info Yes No
Research - ETFs info Yes No
Screener - ETFs info Yes No
Research - Mutual Funds info Yes No
Screener - Mutual Funds info Yes No
Research - Bonds info Yes No
Screener - Bonds info Yes No
Research 4.5/5 Stars 0.5/5 Stars

Banking

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 Firstrade logoFirstrade
SoFi Invest® logoSoFi Invest®
Checking Accounts info Yes Yes
Savings Accounts info No Yes
Debit Cards info Yes Yes
Credit Cards info No Yes
Mortgage Loans info No Yes
CDs info Yes No

Dive deeper: Best Bank Accounts for Trading Stocks for 2025

Winner

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.

FAQs

Can you trade cryptocurrency with Firstrade or SoFi Invest®?

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

Does Firstrade or SoFi Invest® offer IRAs?

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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Compare

0 of 5
Overall Rating Firstrade SoFi Invest®
Overall 4/5 Stars 3/5 Stars
Range of Investments 4.5/5 Stars 3.5/5 Stars
Platforms & Tools 3/5 Stars 1.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 3.5/5 Stars
Research 4.5/5 Stars 0.5/5 Stars
Customer Service 3.5/5 Stars 4.5/5 Stars
Education 3.5/5 Stars 4.5/5 Stars
Ease Of Use 4/5 Stars 4.5/5 Stars
Winner check_circle
Review Firstrade Review SoFi Invest® Review
Broker Screenshots Firstrade 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 Firstrade SoFi Invest®
Minimum Deposit info $0.00 $0.00
Stock Trades info $0.00 $0.00
Penny Stock Fees (OTC) info $0.00 N/A
Mutual Fund Trade Fee info $0 $0
Options (Per Contract) info $0.00 $0.00
Futures (Per Contract) info (Not offered) $0.00
Broker Assisted Trade Fee info $19.95 N/A
Margin Rates Firstrade SoFi Invest®
Margin Rate Under $25,000 info 13.75% 11.25%
Margin Rate $25,000 to $49,999.99 info 13.50% 11.25%
Margin Rate $50,000 to $99,999.99 info 13.00% 11.25%
Margin Rate $100,000 to $249,999.99 info 12.50% 11.25%
Margin Rate $250,000 to $499,999.99 info 12.50% 11.25%
Margin Rate $500,000 to $999,999.99 info 12.50% 11.25%
Margin Rate Above $1,000,000 info 12.50% 11.25%
Account Fees Firstrade SoFi Invest®
IRA Annual Fee info $0.00 $0.00
IRA Closure Fee info $0.00 $20.00
Account Transfer Out (Partial) info $55.00 $100.00
Account Transfer Out (Full) info $75.00 $100.00
Options Exercise Fee info $0.00 $5.00
Options Assignment Fee info $0.00 $5.00
Investment Options Firstrade SoFi Invest®
Stock Trading info Yes Yes
Margin Trading info Yes Yes
Fractional Shares info Yes Yes
OTC Stocks info Yes Yes
Options Trading info Yes Yes
Complex Options Max Legs info 4 0
Futures Trading info No No
Forex Trading info No No
Crypto Trading info No No info
Crypto Trading - Total Coins info 0 0
Mutual Funds (No Load) info 15460 0
Mutual Funds (Total) info 19666 6000
Bonds (US Treasury) info Yes No
Bonds (Corporate) info Yes No
Bonds (Municipal) info Yes No
Traditional IRAs info Yes Yes
Roth IRAs info Yes Yes
Advisor Services info No Yes
International Countries (Stocks) info 0 0
Order Types Firstrade SoFi Invest®
Order Type - Market info Yes Yes
Order Type - Limit info Yes Yes
Order Type - After Hours info Yes Yes
Order Type - Stop info Yes No
Order Type - Trailing Stop info Yes No
Order Type - OCO info Yes No
Order Type - OTO info Yes No
Order Type - Broker Assisted info Yes No
Beginners Firstrade SoFi Invest®
Education (Stocks) info Yes Yes
Education (ETFs) info No Yes
Education (Options) info Yes Yes
Education (Mutual Funds) info No Yes
Education (Bonds) info No Yes
Education (Retirement) info Yes Yes
Retirement Calculator info Yes No
Investor Dictionary info Yes Yes
Paper Trading info No No
Videos info Yes No
Webinars info Yes Yes
Webinars (Archived) info Yes Yes
Progress Tracking info No No
Interactive Learning - Quizzes info No No
Stock Trading Apps Firstrade 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 Yes Yes
Trading - Simple Options info Yes No
Trading - Complex Options info Yes No
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info Yes No
Stock App Features Firstrade SoFi Invest®
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info No No
Videos on Demand info No 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 Yes No
Stock App Charting Firstrade SoFi Invest®
Charting - After-Hours info No No
Charting - Can Turn Horizontally info Yes No
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 81 0
Charting - Study Customizations info Yes No
Charting - Stock Comparisons info No No
Trading Platforms Firstrade 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 No No
Trade Journal info No No
Watch Lists - Total Fields info 50 3
Stock Chart Features Firstrade SoFi Invest®
Charting - Adjust Trades on Chart info No No
Charting - Indicators / Studies info 102 0
Charting - Drawing Tools info 8 0
Charting - Notes info No 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 No No
Trade Ideas - Technical Analysis info Yes No
Charting - Study Customizations info 6 0
Charting - Custom Studies info No No
Day Trading Firstrade SoFi Invest®
Streaming Time & Sales info No 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 Firstrade SoFi Invest®
Research - Stocks info Yes No
Research - ETFs info Yes No
Research - Mutual Funds info Yes No
Research - Pink Sheets / OTCBB info Yes No
Research - Bonds info Yes No
Screener - Stocks info Yes No
Screener - ETFs info Yes No
Screener - Mutual Funds info Yes No
Screener - Bonds info Yes No
Misc - Portfolio Allocation info Yes Yes
Stock Research Firstrade SoFi Invest®
Stock Research - PDF Reports info 1 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 Firstrade SoFi Invest®
ETFs - Strategy Overview info Yes Yes
ETF Fund Facts - Inception Date info Yes No
ETF Fund Facts - Expense Ratio info Yes Yes
ETF Fund Facts - Net Assets info Yes No
ETF Fund Facts - Total Holdings info Yes No
ETFs - Top 10 Holdings info Yes Yes
ETFs - Sector Exposure info Yes No
ETFs - Risk Analysis info Yes No
ETFs - Ratings info Yes No
ETFs - Morningstar StyleMap info Yes No
ETFs - PDF Reports info Yes No
Mutual Fund Research Firstrade SoFi Invest®
Mutual Funds - Strategy Overview info Yes No
Mutual Funds - Performance Chart info Yes No
Mutual Funds - Performance Analysis info Yes No
Mutual Funds - Prospectus info Yes No
Mutual Funds - 3rd Party Ratings info Yes No
Mutual Funds - Fees Breakdown info Yes No
Mutual Funds - Top 10 Holdings info Yes No
Mutual Funds - Asset Allocation info Yes No
Mutual Funds - Sector Allocation info Yes No
Mutual Funds - Country Allocation info Yes No
Mutual Funds - StyleMap info Yes No
Options Trading Firstrade SoFi Invest®
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info Yes No
Option Chains - Streaming info No No
Option Chains - Total Columns info 8 0
Option Chains - Greeks info 5 0
Option Chains - Quick Analysis info No No
Option Analysis - P&L Charts info Yes No
Option Probability Analysis info No No
Option Probability Analysis Adv info Yes 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 Yes No
Option Positions - Grouping info No No
Banking Firstrade SoFi Invest®
Bank (Member FDIC) info No Yes
Checking Accounts info Yes Yes
Savings Accounts info No Yes
Credit Cards info No Yes
Debit Cards info Yes Yes
Mortgage Loans info No Yes
Customer Service Firstrade SoFi Invest®
Phone Support (Prospect Customers) info Yes Yes
Phone Support (Current Customers) info Yes 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 Firstrade SoFi Invest®
Overall 4/5 Stars 3/5 Stars
Range of Investments 4.5/5 Stars 3.5/5 Stars
Platforms & Tools 3/5 Stars 1.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 3.5/5 Stars
Research 4.5/5 Stars 0.5/5 Stars
Education 3.5/5 Stars 4.5/5 Stars
Ease Of Use 4/5 Stars 4.5/5 Stars
Winner check_circle
Review Firstrade Review SoFi Invest® Review
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