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 deciding between Firstrade and SoFi Invest® for your investment needs, understanding their offerings is key. Both brokers provide a wide array of trading options like stocks, margin trading, fractional shares, OTC stocks, mutual funds, and options trading, catering to both novice and seasoned traders. However, neither offers forex or futures trading, nor do they provide access to cryptocurrencies. If advisor services are a priority, SoFi Invest® might be a better choice since they offer this service while Firstrade does not. In terms of their investment range, Firstrade scores a commendable 4.5 stars compared to SoFi Invest®'s 3.5 stars, and ranks sixth among 16 brokers according to StockBrokers.com, while SoFi comes in at fourteenth.
Firstrade stands out with its comprehensive investment offerings, providing a one-stop-shop for traditional IRAs, Roth IRAs, and a variety of trading opportunities. Their platform is particularly appealing to investors who want a wide range of investment types without needing individual advisor support. Though both platforms offer similar trading opportunities in stocks and options, Firstrade is a top-choice for investors who wish to delve into the realm of OTC stocks, offering more freedom and choice in portfolio diversification.
Conversely, SoFi Invest® impresses with its commitment to supportive investment services, offering access to advisor services that Firstrade does not. This feature could appeal to investors who prefer a guiding hand while building their portfolio. While SoFi Invest® does offer the basic types of accounts and trading services including traditional and Roth IRAs, and allows margin and fractional trading, it may not be the go-to for those seeking the broadest scope in investment options. With different strengths catering to distinct investor preferences, both Firstrade and SoFi Invest® provide valuable pathways to grow your wealth depending on your specific needs and financial goals.
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 comparing Firstrade and SoFi Invest® for trading platforms and tools, Firstrade clearly holds the edge. Firstrade earns a 3-star rating and ranks 11th out of 16 brokers evaluated by StockBrokers.com, while SoFi Invest® lags behind with a 1.5-star rating and the lowest rank at 16th. Firstrade provides a fuller range of features for traders, making it a more appealing choice for those who value extensive charting capabilities and customizable options.
Both platforms offer browser-based trading without a downloadable Windows or Mac application, but Firstrade raises the bar with a broader range of technical indicators and watch list fields. It provides 102 technical indicators compared to SoFi Invest®, which offers none. Additionally, Firstrade supports 50 watch list columns, giving traders far more scope for tracking market data compared to the mere 3 columns available at SoFi Invest®.
Though neither platform offers paper trading or trading journals, Firstrade provides more charting tools, including 8 drawing tools, and the ability to add index overlays. On the other hand, SoFi Invest® lacks these advanced features altogether. Firstrade also supports six customization fields in SMA studies for charts, whereas SoFi Invest® offers no customization fields. These distinctions could significantly impact a trader's experience and success, particularly for those who prioritize comprehensive chart analysis and configuration.
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: 7 Best Brokerage Accounts for 2025, Best Paper Trading Platforms for 2025
When it comes to educating beginner investors, Firstrade and SoFi Invest® both provide useful resources, but their offerings differ. Firstrade excels in delivering accessible stock and options education, enriched by educational videos and webinars. However, this platform lacks educational materials on ETFs, mutual funds, and bonds, leaving gaps for investors looking to broaden their portfolio knowledge. Firstrade's absence of paper trading and tools to track learning progress might be a limitation for those seeking interactive learning experiences. Overall, Firstrade earns a 3.5-star rating and ranks 13th for education among 16 brokers according to StockBrokers.com.
On the other hand, SoFi Invest® offers a more comprehensive educational experience, covering stocks, ETFs, bonds, mutual funds, and options. While it doesn't feature educational videos like Firstrade, SoFi Invest® compensates with in-depth webinar sessions. Both platforms miss out on paper trading options and tracking tools for learning progress, but SoFi Invest® shines with a 4.5-star rating, placing it 6th out of 16 brokers in education by StockBrokers.com. For beginner investors seeking a wider scope of educational content, SoFi Invest® appears to have the upper hand.
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 deciding between Firstrade and SoFi Invest® for mobile stock trading, Firstrade stands out as the more feature-rich option, earning a 4.5-star rating and ranking 9th out of 16 brokers according to StockBrokers.com. In comparison, SoFi Invest® holds a 3.5-star rating and is ranked 16th. Both brokers offer iPhone and Android apps, but when it comes to advanced capabilities, Firstrade clearly takes the lead, offering mobile after-hours trading, options trading, stock alerts, and the ability to create and customize watch lists, which SoFi Invest® lacks.
Firstrade users benefit from streaming quotes, which are absent in the SoFi Invest® app. While neither broker provides an Apple Watch app, streaming live TV, or video on demand, Firstrade's superior charting functions include viewing charts in landscape mode and multiple time frames, supported by 81 technical studies. SoFi Invest® also allows multiple time frames for charting but lacks technical studies entirely.
Both platforms fall short in offering features like after-hours charting or stock comparisons on charts. Despite this, Firstrade’s comprehensive offerings make it a favorable choice for those who prioritize advanced trading features and customization options in their stock trading app.
Feature |
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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 comparing Firstrade and SoFi Invest® for their fees and charges, you'll find some key differences that may influence your decision. Firstrade offers a true $0 minimum deposit, making it accessible for those just starting out. SoFi, while having a minimum deposit of $5, also offers competitive pricing. Both platforms charge nothing for regular stock trades and options contracts, providing cost-effective trading experiences. Interestingly, Firstrade has lower partial and full account transfer fees but SoFi charges no fees for options exercise and assignment.
In terms of margins, SoFi Invest® stands out with lower interest rates compared to Firstrade. For balances under $25,000 and up to $99,999, SoFi sets a consistent rate of 11.25%, which can make a significant difference for frequent margin users. IRA related fees are negligible on both Firstrade and SoFi, but should you decide to close your IRA with SoFi, a $20 fee applies. Meanwhile, Firstrade allows free closure, offering additional flexibility to account holders.
While both Firstrade and SoFi are attractive from a fee perspective, your choice might depend on specific aspects like margin rates or account transfer costs. Firstrade offers a more inviting structure for beginners with its $0 minimum deposit and lowest transfer charges. However, active traders using margin accounts might lean towards SoFi Invest® due to their lower interest rates, making it a profitable option if margin trading aligns with your strategy.
Feature |
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Minimum Deposit | $0.00 | $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 | $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 clearly outshines SoFi Invest®. Firstrade offers a comprehensive array of research tools, covering stocks, ETFs, mutual funds, bonds, and even Pink Sheets/OTCBB. In contrast, SoFi Invest provides minimal research support for its users. Firstrade also delivers valuable insights through social media sentiment data and ESG research, whereas SoFi Invest lacks these features. Both platforms allow users to view their portfolio allocation by asset class, but Firstrade's advanced tools and reports make it the superior choice for research-driven investors.
Firstrade scores exceptionally well with a 4.5-star rating for market research, ranking #6 out of 16 brokers by StockBrokers.com. The platform's downloadable PDF research reports for stocks and ETFs, alongside a variety of screeners for trade ideas, lend a comprehensive edge to investors. Although Firstrade doesn’t provide downloadable PDFs for mutual funds, its extensive research offerings across multiple asset classes make it a strong ally for anyone seeking detailed market insights.
On the other hand, SoFi Invest® falls short in every category, earning only a 0.5-star rating and ranking last in market research among the 16 brokers reviewed by StockBrokers.com. Without any form of research for stocks, ETFs, mutual funds, or bonds, SoFi Invest® leaves its users with limited resources to make informed investment decisions. This absence of fundamental research tools and data highlights SoFi Invest®’s role as a more basic platform, better suited for investors who may not require in-depth market analysis.
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 16 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® | |
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Minimum Deposit | $0.00 | $5.00 | |
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® | |
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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 | ||
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® | |
---|---|---|---|
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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Overall |
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Range of Investments |
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Platforms & Tools |
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Mobile Trading Apps |
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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 |