SoFi Invest vs Public.com 2024
In this head to head comparison of SoFi Invest vs Public.com, we will compare the trading platforms, mobile apps, investment options, costs, market research, and more. Let's dive in.
In this head to head comparison of SoFi Invest vs Public.com, we will compare the trading platforms, mobile apps, investment options, costs, market research, and more. Let's dive in.
When choosing between SoFi Invest and Public.com for your investment needs, their offerings appear to be quite similar, each excelling in different areas. Both platforms provide essential services such as stock, margin, fractional shares, and options trading. However, SoFi Invest extends its services to mutual funds and IRA accounts, which Public.com does not offer. In contrast, Public.com caters to the cryptocurrency enthusiast with access to 22 coins, a feature absent from SoFi Invest's platform. Despite the similarities in services, both SoFi Invest and Public.com have been rated 3 stars for investment options and rank closely on StockBrokers.com, with Public.com in the 15th position and SoFi Invest in the 16th.
SoFi Invest and Public.com enable investors to engage in stock trading, margin trading, and options trading. Notably, both platforms recognize the emerging trend of fractional shares trading and offer this service to their users. Additionally, they provide access to OTC stocks, broadening the investment opportunities for users wanting exposure to this market sector. However, both platforms are clearly focused on traditional investment avenues as neither offers forex or futures trading options.
Delving deeper into the specifics, SoFi Invest distinguishes itself by supporting mutual fund purchases and offering traditional and Roth IRA accounts, catering to those interested in more robust retirement planning options. Furthermore, SoFi Invest provides advisor services, adding an extra layer of support for investors seeking professional guidance. On the other hand, Public.com positions itself as a cryptocurrency-friendly platform, offering trades in 22 different digital coins, making it a compelling choice for crypto investors who seek diversification within their portfolios. While both platforms share significant overlap in functions, these nuanced differences are key to choosing the right one for individual financial strategies.
Feature |
SoFi Invest
|
Public.com
|
---|---|---|
Stock Trading | Yes | Yes |
Margin Trading | Yes | Yes |
Fractional Shares | Yes | Yes |
OTC Stocks | Yes | Yes |
Mutual Funds | Yes | No |
Options Trading | Yes | Yes |
Futures Trading | No | No |
Crypto Trading | No | Yes |
Crypto Trading - Total Coins | 0 | 22 |
Investment Options |
Dive deeper: Best Options Trading Platforms & Brokers, 5 Best Futures Trading Platforms of 2024
When it comes to evaluating trading platforms and tools offered by online brokers, both SoFi Invest and Public.com provide similar experiences with a few nuanced differences. Both platforms lack downloadable trading applications for Windows and Mac, offering only browser-based trading. Additionally, neither SoFi Invest nor Public.com provides paper trading or a trading journal, and they both offer limited charting capabilities with no technical indicators or drawing tools. Notably, Public.com allows the addition of index overlays on charts, a feature absent in SoFi Invest. Despite these similarities, both platforms receive a rating of 2.5 stars for their trading tools, with SoFi Invest slightly outranking Public.com at #15, compared to Public.com's #17 ranking according to StockBrokers.com.
In terms of watch list functionalities, both SoFi Invest and Public.com provide the same number of fields, offering three columns for tracking your selected stocks. However, neither platform allows users to adjust open orders directly on a stock chart, and their charting services are quite basic. They do not support adding notes to charts, showing historical trades, or displaying corporate events such as earnings, splits, and dividends. A lack of ability to show automated technical analysis or save multiple chart profiles further limits the charting experience.
Those looking for advanced chart customization options might be disappointed, as both SoFi Invest and Public.com do not allow setting custom date ranges or creating custom studies. Editing an SMA study offers no customization fields in either platform. Both have been reviewed similarly in terms of their trading platforms and tools, given the limited functionalities compared to other brokers. Nevertheless, these platforms might appeal to more novice investors or those not needing extensive trading features.
Feature |
SoFi Invest
|
Public.com
|
---|---|---|
Web Trading Platform | Yes | Yes |
Desktop Trading Platform | No | No |
Desktop Platform (Mac) | No | No |
Paper Trading | No | No |
Watch Lists - Total Fields | 3 | 3 |
Charting - Indicators / Studies | 0 | 0 |
Charting - Drawing Tools | 0 | 0 |
Platforms & Tools |
Dive deeper: Best Stock Brokers for 2024, Best Paper Trading Platforms of 2024
When it comes to beginner and investor education, SoFi Invest and Public.com both provide a range of resources, yet there are distinct differences in their offerings. SoFi Invest delivers comprehensive education options with coverage in stocks, ETFs, options, mutual funds, and bonds. In contrast, Public.com also offers education in stocks, ETFs, and options but lacks in mutual funds and bonds. Both platforms offer webinars, but Public.com excels with the inclusion of educational videos, a feature that SoFi Invest does not provide. However, neither platform offers paper trading, educational quizzes, or the ability to track learning progress, which are valuable tools for beginners seeking to hone their investment skills through practice and self-assessment.
In terms of user-rated educational strength, SoFi Invest shines with a commendable rating of 4.5 stars, surpassing Public.com's 3-star rating. This recognition is further validated by their rankings on StockBrokers.com, where SoFi Invest holds a respectable 7th place out of 18 brokers, whereas Public.com is positioned at 15th. Clearly, SoFi Invest provides more robust educational support for new investors, making it a strong contender for those prioritizing educational resources when selecting an online brokerage platform.
Feature |
SoFi Invest
|
Public.com
|
---|---|---|
Education (Stocks) | Yes | Yes |
Education (ETFs) | Yes | Yes |
Education (Options) | Yes | Yes |
Education (Mutual Funds) | Yes | No |
Education (Bonds) | Yes | No |
Paper Trading | No | No |
Videos | No | Yes |
Webinars | Yes | Yes |
Education |
Dive deeper: Best Stock Trading Platforms for Beginners of 2024
When evaluating stock trading app capabilities, Public.com emerges slightly ahead of SoFi Invest. With ratings of four out of five stars versus SoFi's three stars, Public.com provides a more user-friendly experience. It also ranks higher on StockBrokers.com, coming in at #14 compared to SoFi Invest’s #16. Both platforms offer iPhone and Android apps but neither provides an Apple Watch app, Apple streaming quotes, or live streaming TV. Options trading on mobile is available only on Public.com, offering more diverse trading opportunities for its users, while SoFi Invest does not support this feature.
In terms of app features, Public.com allows the customization of watch list columns and the ability to display stock comparisons on charts, which SoFi Invest lacks. Both platforms allow users to view charts across multiple time frames but do not support viewing charts in landscape mode. Neither SoFi Invest nor Public.com offers after-hours charting or technical studies in their mobile charting packages. While neither platform provides stock alerts or videos on demand, Public.com edges ahead with a more comprehensive set of features for active traders.
Despite shared limitations like the lack of streaming quotes, after-hours charting, and adjustable watch lists, Public.com's additional capabilities and higher user ratings make it a more attractive option for stock trading enthusiasts. While SoFi Invest provides reliable basic functionalities, users seeking mobile options trading and more extensive app customization might find Public.com better suited to their trading needs.
Feature |
SoFi Invest
|
Public.com
|
---|---|---|
iPhone App | Yes | Yes |
Android App | Yes | Yes |
Apple Watch App | No | No |
Stock Alerts | No | No |
Charting - After-Hours | No | No |
Charting - Technical Studies | 0 | 0 |
Mobile Trading Apps |
Dive deeper: Best Stock Trading Apps of 2024
When comparing SoFi Invest and Public.com for online brokerage services, SoFi Invest proves to be the more accessible choice with lower minimum deposit requirements at just $5.00 compared to Public.com's $20.00. Both platforms offer commission-free regular stock trades and options contracts, giving investors cost-effective avenues to engage in the market. However, for those interested in margin trading, Public.com offers lower rates across various balances, particularly notable with the reduced rate of 6.75% for balances between $50,000 and $99,999, while SoFi Invest maintains a consistent rate of 9.5% across all tiers.
In terms of fees associated with account management and transactions, SoFi Invest and Public.com both boast zero fees for IRA annual maintenance, supporting retirement investment strategies without additional costs. Yet, SoFi Invest imposes a $20.00 IRA closure fee, whereas there's no such charge listed for Public.com. For account transfers, Public.com again proves to be more economical, charging only $75.00 for both partial and full ACAT transfers, compared to SoFi Invest's $100.00. Additionally, Public.com does not charge fees for options exercise or assignment, while SoFi Invest has a charge of $5.00 for each.
Overall, both SoFi Invest and Public.com offer competitive and investor-friendly trading platforms with zero-cost stock and options trading as standard. The choice between the two may ultimately come down to the specific financial features important to the investor, such as the minimum deposit, margin interest rates, or handling costs associated with account changes and options trading. Understanding these differences can guide potential investors in selecting the brokerage that best aligns with their financial strategies and operational preferences.
Feature |
SoFi Invest
|
Public.com
|
---|---|---|
Minimum Deposit | $5.00 | $20.00 |
Stock Trades | $0.00 | $0.00 |
Options (Per Contract) | $0.00 | $0.00 |
Options Exercise Fee | $5.00 | $0.00 |
Options Assignment Fee | $5.00 | $0.00 |
IRA Annual Fee | $0.00 | |
IRA Closure Fee | $20.00 | |
Commissions & Fees |
Dive deeper: Best Brokers for Free Stock Trading of 2024
When comparing SoFi Invest and Public.com specifically for day trading capabilities, both platforms have significant limitations that traders should consider. Neither SoFi Invest nor Public.com offer streaming time and sales data for stocks, streaming live TV, or direct market routing options, which can be crucial features for day traders who rely on real-time data and efficient order execution. Additionally, both lack support for ladder trading and trading hotkeys, features that can expedite the trading process and improve user efficiency.
Furthermore, neither SoFi Invest nor Public.com provide level 2 quotes, which offer deeper insight into the market. A shortcoming for strategy development exists as both platforms do not offer basic or advanced strategy backtesting. Additionally, neither offers a short locator tool for viewing the real-time availability of shares to short or order liquidity rebates, limiting their appeal to traders who use these strategies. For those focused on day trading, other platforms may better cater to these specific needs.
Feature |
SoFi Invest
|
Public.com
|
---|---|---|
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 of 2024
When comparing the market research capabilities of SoFi Invest and Public.com, it's clear that both platforms have room for improvement, as evident by their two-star ratings in market research. Public.com offers a slight edge by providing research on stocks, ETFs, and Pink Sheets/OTCBB, whereas SoFi Invest does not offer these research capabilities at all. However, SoFi Invest allows users to see their portfolio allocation by asset class, a feature that Public.com lacks. Nevertheless, both platforms do not provide extensive downloadable research reports, screeners for trade ideas, social media sentiment analysis, or ESG research.
SoFi Invest lacks research tools across the board, with no dedicated stock, ETF, or mutual fund research, and no resources like a stock screener or downloadable reports to aid in market analysis. Despite this, it does offer portfolio allocation insights, but its overall research capabilities are still limited, earning it an 18th place ranking out of 18 brokers in market research according to StockBrokers.com.
Public.com slightly outperforms SoFi Invest in research offerings by presenting users with information on stocks, ETFs, and Pink Sheets/OTCBB. However, it mirrors SoFi Invest in not providing downloadable research reports and lacks features like a stock screener and ESG research. It ranks marginally better at 17th place among 18 brokers as per StockBrokers.com, indicating that while it holds some advantages, comprehensive research options are still lacking.
Feature |
SoFi Invest
|
Public.com
|
---|---|---|
Research - Stocks | No | Yes |
Screener - Stocks | No | No |
Research - ETFs | No | Yes |
Screener - ETFs | No | No |
Research - Mutual Funds | No | No |
Screener - Mutual Funds | No | No |
Research - Bonds | No | No |
Screener - Bonds | No | No |
Research |
When evaluating the banking capabilities of online brokers SoFi Invest and Public.com, SoFi Invest stands out with its comprehensive suite of financial offerings. SoFi Invest provides users with checking accounts, savings accounts, debit cards, and credit cards, along with mortgage loans, making it a versatile choice for those seeking diverse financial services. In contrast, Public.com does not offer any of these services, focusing solely on its brokerage functionalities. Neither platform currently offers Certificates of Deposit (CDs). This comparison highlights SoFi Invest as the more robust platform for banking needs, whereas Public.com specializes in investment aspects alone.
Feature |
SoFi Invest
|
Public.com
|
---|---|---|
Checking Accounts | Yes | No |
Savings Accounts | Yes | No |
Debit Cards | Yes | No |
Credit Cards | Yes | No |
Mortgage Loans | Yes | No |
CDs | No | No |
Dive deeper: Best Bank Brokerages of 2024
After opening live accounts and testing 18 of the best online brokers, our research and live account testing finds that SoFi Invest is better than Public.com. SoFi Invest finished with an overall score of 73.7%, while Public.com finished with a score of 72.9%.
SoFi Invest offers a wide range of services, including access to cryptocurrencies, IPOs and automated investing. It is relatively easy to use, and gets high marks for its mobile app. However, its lack of research, as well as its lagging education and trading tools, leave it a step behind industry leaders.
While SoFi Invest does not support cryptocurrency trading, Public.com allows users to trade digital assets, offering a selection of 22 different coins.
Dive deeper: Best Crypto Trading Platforms of 2024
SoFi Invest offers traditional and Roth IRA accounts with no annual fees, but requires a $20.00 closure fee, whereas Public.com does not provide IRA accounts, making SoFi Invest more suitable for individuals seeking retirement account options.
Dive deeper: Best IRA Accounts of 2024
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0 of 5Overall Rating | SoFi Invest | Public.com | |
---|---|---|---|
Overall | |||
Commissions & Fees | |||
Investment Options | |||
Platforms & Tools | |||
Mobile Trading Apps | |||
Research | |||
Customer Service | N/A | ||
Education | |||
Ease Of Use | |||
Winner | check_circle | ||
Review | SoFi Invest Review | Public.com Review |
Broker Screenshots | SoFi Invest | Public.com | |
---|---|---|---|
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 | SoFi Invest | Public.com | |
---|---|---|---|
Minimum Deposit | $5.00 | $20.00 | |
Stock Trades | $0.00 | $0.00 | |
Penny Stock Fees (OTC) | N/A | $2.99 | |
Mutual Fund Trade Fee | $0 | n/a | |
Options (Per Contract) | $0.00 | $0.00 | |
Futures (Per Contract) | $0.00 | (Not offered) | |
Broker Assisted Trade Fee | N/A | n/a |
Margin Rates | SoFi Invest | Public.com | |
---|---|---|---|
Margin Rate Under $25,000 | 9.5% | 8.75% | |
Margin Rate $25,000 to $49,999.99 | 9.5% | 8.75% | |
Margin Rate $50,000 to $99,999.99 | 9.5% | 6.75% | |
Margin Rate $100,000 to $249,999.99 | 9.5% | 6.75% | |
Margin Rate $250,000 to $499,999.99 | 9.5% | 5.75% | |
Margin Rate $500,000 to $999,999.99 | 9.5% | 5.75% | |
Margin Rate Above $1,000,000 | 9.5% | 5.75% |
Account Fees | SoFi Invest | Public.com | |
---|---|---|---|
IRA Annual Fee | $0.00 | ||
IRA Closure Fee | $20.00 | ||
Account Transfer Out (Partial) | $100.00 | $75.00 | |
Account Transfer Out (Full) | $100.00 | $75.00 | |
Options Exercise Fee | $5.00 | $0.00 | |
Options Assignment Fee | $5.00 | $0.00 |
Investment Options | SoFi Invest | Public.com | |
---|---|---|---|
Stock Trading | Yes | Yes | |
Margin Trading | Yes | Yes | |
Fractional Shares | Yes | Yes | |
OTC Stocks | Yes | Yes | |
Options Trading | Yes | Yes | |
Complex Options Max Legs | 0 | 0 | |
Futures Trading | No | No | |
Forex Trading | No | No | |
Crypto Trading | No | Yes | |
Crypto Trading - Total Coins | 0 | 22 | |
Mutual Funds (No Load) | 0 | 0 | |
Mutual Funds (Total) | 6000 | 0 | |
Bonds (US Treasury) | No | Yes | |
Bonds (Corporate) | No | Yes | |
Bonds (Municipal) | No | No | |
Traditional IRAs | Yes | No | |
Roth IRAs | Yes | No | |
Advisor Services | Yes | No | |
International Countries (Stocks) | 0 | 0 |
Order Types | SoFi Invest | Public.com | |
---|---|---|---|
Order Type - Market | Yes | Yes | |
Order Type - Limit | Yes | Yes | |
Order Type - After Hours | Yes | Yes | |
Order Type - Stop | No | Yes | |
Order Type - Trailing Stop | No | No | |
Order Type - OCO | No | No | |
Order Type - OTO | No | No | |
Order Type - Broker Assisted | No | No |
Beginners | SoFi Invest | Public.com | |
---|---|---|---|
Education (Stocks) | Yes | Yes | |
Education (ETFs) | Yes | Yes | |
Education (Options) | Yes | Yes | |
Education (Mutual Funds) | Yes | No | |
Education (Bonds) | Yes | No | |
Education (Retirement) | Yes | Yes | |
Retirement Calculator | No | No | |
Investor Dictionary | Yes | Yes | |
Paper Trading | No | No | |
Videos | No | Yes | |
Webinars | Yes | Yes | |
Webinars (Archived) | Yes | Yes | |
Progress Tracking | No | No | |
Interactive Learning - Quizzes | No | No |
Stock Trading Apps | SoFi Invest | Public.com | |
---|---|---|---|
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 | No | Yes | |
Trading - Complex Options | No | No | |
Order Ticket RT Quotes | Yes | Yes | |
Order Ticket SRT Quotes | No | No |
Stock App Features | SoFi Invest | Public.com | |
---|---|---|---|
Market Movers (Top Gainers) | Yes | Yes | |
Stream Live TV | No | No | |
Videos on Demand | No | No | |
Stock Alerts | No | No | |
Option Chains Viewable | No | Yes | |
Watch List (Real-time) | Yes | Yes | |
Watch List (Streaming) | No | No | |
Watch Lists - Create & Manage | No | No | |
Watch Lists - Column Customization | No | Yes |
Stock App Charting | SoFi Invest | Public.com | |
---|---|---|---|
Charting - After-Hours | No | No | |
Charting - Can Turn Horizontally | No | No | |
Charting - Multiple Time Frames | Yes | Yes | |
Charting - Technical Studies | 0 | 0 | |
Charting - Study Customizations | No | No | |
Charting - Stock Comparisons | No | Yes |
Trading Platforms | SoFi Invest | Public.com | |
---|---|---|---|
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 | 3 | 3 |
Stock Chart Features | SoFi Invest | Public.com | |
---|---|---|---|
Charting - Adjust Trades on Chart | No | No | |
Charting - Indicators / Studies | 0 | 0 | |
Charting - Drawing Tools | 0 | 0 | |
Charting - Notes | No | No | |
Charting - Index Overlays | No | Yes | |
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 | No | No | |
Charting - Study Customizations | 0 | 0 | |
Charting - Custom Studies | No | No |
Day Trading | SoFi Invest | Public.com | |
---|---|---|---|
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 | SoFi Invest | Public.com | |
---|---|---|---|
Research - Stocks | No | Yes | |
Research - ETFs | No | Yes | |
Research - Mutual Funds | No | No | |
Research - Pink Sheets / OTCBB | No | Yes | |
Research - Bonds | No | No | |
Screener - Stocks | No | No | |
Screener - ETFs | No | No | |
Screener - Mutual Funds | No | No | |
Screener - Bonds | No | No | |
Misc - Portfolio Allocation | Yes | No |
Stock Research | SoFi Invest | Public.com | |
---|---|---|---|
Stock Research - PDF Reports | 0 | 0 | |
Stock Research - Earnings | No | Yes | |
Stock Research - Insiders | No | No | |
Stock Research - Social | No | No | |
Stock Research - News | Yes | Yes | |
Stock Research - ESG | No | No | |
Stock Research - SEC Filings | No | No |
ETF Research | SoFi Invest | Public.com | |
---|---|---|---|
ETFs - Strategy Overview | Yes | Yes | |
ETF Fund Facts - Inception Date | No | Yes | |
ETF Fund Facts - Expense Ratio | Yes | Yes | |
ETF Fund Facts - Net Assets | No | Yes | |
ETF Fund Facts - Total Holdings | No | No | |
ETFs - Top 10 Holdings | Yes | No | |
ETFs - Sector Exposure | No | No | |
ETFs - Risk Analysis | No | No | |
ETFs - Ratings | No | No | |
ETFs - Morningstar StyleMap | No | No | |
ETFs - PDF Reports | No | No |
Mutual Fund Research | SoFi Invest | Public.com | |
---|---|---|---|
Mutual Funds - Strategy Overview | No | No | |
Mutual Funds - Performance Chart | No | No | |
Mutual Funds - Performance Analysis | No | No | |
Mutual Funds - Prospectus | No | No | |
Mutual Funds - 3rd Party Ratings | No | No | |
Mutual Funds - Fees Breakdown | No | No | |
Mutual Funds - Top 10 Holdings | No | No | |
Mutual Funds - Asset Allocation | No | No | |
Mutual Funds - Sector Allocation | No | No | |
Mutual Funds - Country Allocation | No | No | |
Mutual Funds - StyleMap | No | No |
Options Trading | SoFi Invest | Public.com | |
---|---|---|---|
Option Chains - Basic View | Yes | No | |
Option Chains - Strategy View | No | No | |
Option Chains - Streaming | No | No | |
Option Chains - Total Columns | 0 | 4 | |
Option Chains - Greeks | 0 | 5 | |
Option Chains - Quick Analysis | No | Yes | |
Option Analysis - P&L Charts | No | Yes | |
Option Probability Analysis | No | No | |
Option Probability Analysis Adv | No | No | |
Option Positions - Greeks | No | Yes | |
Option Positions - Greeks Streaming | No | No | |
Option Positions - Adv Analysis | No | No | |
Option Positions - Rolling | No | No | |
Option Positions - Grouping | No | No |
Banking | SoFi Invest | Public.com | |
---|---|---|---|
Bank (Member FDIC) | Yes | No | |
Checking Accounts | Yes | No | |
Savings Accounts | Yes | No | |
Credit Cards | Yes | No | |
Debit Cards | Yes | No | |
Mortgage Loans | Yes | No |
Customer Service | SoFi Invest | Public.com | |
---|---|---|---|
Phone Support (Prospect Customers) | Yes | No | |
Phone Support (Current Customers) | Yes | No | |
Email Support | No | Yes | |
Live Chat (Prospect Customers) | Yes | Yes | |
Live Chat (Current Customers) | Yes | Yes | |
24/7 Support | No | No |
Overall | SoFi Invest | Public.com | |
---|---|---|---|
Overall | |||
Commissions & Fees | |||
Investment Options | |||
Platforms & Tools | |||
Mobile Trading Apps | |||
Research | |||
Education | |||
Ease Of Use | |||
Winner | check_circle | ||
Review | SoFi Invest Review | Public.com Review |