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TradeStation vs SoFi Invest® 2025

StockBrokers.com

Written by StockBrokers.com

October 30, 2024

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

TradeStation
4/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.60
SoFi Invest®
3.5/5 Stars Overall
  • Minimum Deposit: $5.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.00

Investment options

In the world of online brokerage, TradeStation and SoFi Invest® cater to different investor needs, making them appealing for distinct reasons. While TradeStation shines with a broad spectrum of investment options, securing a laudable 4.5-star rating for investment versatility and an impressive 5th place ranking out of 18 brokers by StockBrokers.com, SoFi Invest® provides unique features such as fractional shares, though it earns a lower 3-star rating and ranks 16th. Investors seeking extensive trading capabilities might gravitate towards TradeStation, whereas those interested in advisor services, which TradeStation lacks, might find SoFi Invest® more appealing.

TradeStation offers a robust array of investment products, including stock and margin trading, OTC stocks, mutual and futures trading, options, and IRA accounts. While it excels in these areas, it notably lacks in offering fractional shares and crypto trading. On the other hand, SoFi Invest® covers basic stock and margin trades, includes OTC stocks and mutual funds, but notably lacks futures and crypto trading; however, it scores a point against TradeStation with its fractional share offerings and more comprehensive advisor services.

Both platforms support traditional and Roth IRA accounts, with a shared limitation in crypto trading that offers zero coins. While TradeStation provides a more comprehensive set of tools for seasoned investors, SoFi Invest® appeals to those looking for straightforward investment solutions with added fractional share convenience and counsel through advisor services. This contrast highlights the importance of aligning your brokerage choice with your specific investment strategy and service expectations.

Feature TradeStation logoTradeStation
SoFi Invest® logoSoFi Invest®
Stock Trading info Yes Yes
Margin Trading Yes Yes
Fractional Shares info No Yes
OTC Stocks info Yes Yes
Mutual Funds info Yes Yes
Options Trading info Yes Yes
Futures Trading info Yes No
Crypto Trading info No No info
Crypto Trading - Total Coins info 0 0
Investment Options 4.5/5 Stars 3/5 Stars

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

Trading platforms and tools

When it comes to choosing an online broker, TradeStation and SoFi Invest® both provide unique offerings for trading platforms and tools. TradeStation significantly outshines SoFi Invest® with an impressive 4.5-star rating for its trading platforms, compared to SoFi Invest®'s 2.5-star rating. Additionally, TradeStation is placed in the top third, ranking 7th among 18 brokers on StockBrokers.com, while SoFi Invest® ranks 15th. For traders seeking a robust suite of tools and features, TradeStation stands out as the superior choice.

TradeStation offers a comprehensive trading experience with both Windows desktop and browser-based platforms. It provides an extensive list of 294 technical indicators and 23 drawing tools for charting, alongside the ability to adjust open orders directly on stock charts and add notes or index overlays. Features such as paper trading, custom studies, and multiple chart profile saving further enhance TradeStation's offerings. In contrast, SoFi Invest® provides only a browser-based trading platform, limited to three fields for watch lists, and lacks the advanced charting capabilities such as technical indicators or drawing tools, setting it apart from TradeStation's more robust features.

While both TradeStation and SoFi Invest® support browser-based platforms, the disparity in available tools and customization options is evident. TradeStation users can benefit from features such as showing historical trades, corporate events, automated technical analysis, and custom date ranges on charts, aspects that SoFi Invest® does not offer. Furthermore, the ability to create custom studies and extensive customization for SMA studies make TradeStation a preferred platform for traders who value technical analysis and flexibility in their trading experience.

Feature TradeStation logoTradeStation
SoFi Invest® logoSoFi Invest®
Web Trading Platform info Yes Yes
Desktop Trading Platform info Yes No
Desktop Platform (Mac) info No No
Paper Trading info Yes No
Watch Lists - Total Fields info 341 3
Charting - Indicators / Studies info 294 0
Charting - Drawing Tools info 23 0
Platforms & Tools 4.5/5 Stars 2.5/5 Stars

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

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Beginners and education

When it comes to investor education, SoFi Invest® and TradeStation cater to beginner investors with different strengths that could influence your choice. TradeStation offers stock and options education, providing a solid base for new investors eager to learn about these areas. It also supports learning with paper trading, educational videos, and webinars, allowing users to practice trades virtually and engage with various educational content. However, TradeStation lacks educational offerings for ETFs, mutual funds, and bonds, which might leave some investors looking for more comprehensive educational resources elsewhere.

On the other hand, SoFi Invest® shines with a broader educational offering, providing resources on stocks, ETFs, options, mutual funds, and bonds. While it doesn't offer paper trading or educational videos like TradeStation, it compensates with a robust webinar program. SoFi Invest® is recognized with a higher education rating of 4.5 stars and ranks #7 among 18 brokers in terms of education capabilities, as per StockBrokers.com. Meanwhile, TradeStation holds a 3.5-star rating and is positioned at #11. Therefore, for beginners and those seeking diverse educational coverage, SoFi Invest® might be the preferable choice.

Feature TradeStation logoTradeStation
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 Yes 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 capabilities of TradeStation and SoFi Invest®, TradeStation emerges as the superior choice for users seeking a robust and feature-rich experience. With a user rating of 4.5 stars compared to SoFi Invest®'s 3 stars, TradeStation ranks as the 8th best among 18 brokers, whereas SoFi Invest® sits at 16th. The advanced features offered by TradeStation, such as mobile after-hours trading, a range of technical studies, and customizable watch lists, cater to more experienced traders looking for a comprehensive trading tool.

TradeStation offers a versatile app available on both iPhone and Android, capable of handling complex activities like mobile options trading and after-hours stock trading, features that SoFi Invest® does not support. Additionally, TradeStation's mobile app includes extras such as streaming quotes and personalized stock alerts, enhancing the user experience and ensuring investors stay informed and connected to the market. In contrast, while SoFi Invest® also offers iPhone and Android apps, it lacks these advanced trading capabilities, positioning it as a more basic option for stock trading.

Both platforms offer basic charting capabilities, with TradeStation offering 45 technical studies to support in-depth analysis, whereas SoFi Invest® offers none. Neither platform provides streaming live TV or on-demand videos, but TradeStation supports the creation and customization of watch lists unlike SoFi Invest®. Regardless of specific needs, both apps provide access to viewing multiple time frames for charting, aiding investors in making informed decisions based on their market views. However, TradeStation's superior set of tools and customization options makes it ideal for users seeking more than just a straightforward trading application.

Feature TradeStation logoTradeStation
SoFi Invest® logoSoFi Invest®
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No No
Stock Alerts info Yes No
Charting - After-Hours info Yes No
Charting - Technical Studies info 45 0
Mobile Trading Apps 4.5/5 Stars 3/5 Stars

Dive deeper: Best Stock Trading Apps for 2025

Fees

Comparing TradeStation and SoFi Invest® reveals unique advantages and considerations for potential investors. While both platforms offer commission-free stock trades, other charges and fees vary significantly. TradeStation distinguishes itself with a zero-dollar minimum deposit requirement and competitive options trading fees per contract. However, SoFi Invest® impresses with lower margin rates, especially for balances under $50,000, and no IRA annual or closure fees, which may appeal to cost-conscious investors.

TradeStation offers a no-minimum deposit advantage, making it an attractive option for some traders. Furthermore, it provides commission-free stock trading and charges $0.60 per options contract. In contrast, SoFi Invest® also offers commission-free stock trading but shines with no options contract fees, making it particularly appealing for options traders who wish to minimize costs. For traders interested in using margin, SoFi Invest® offers more favorable rates, starting at 11.25% compared to TradeStation's 13.0% for balances below $25,000.

The platforms differ notably in account-related fees. TradeStation imposes a $35.00 IRA annual fee and a $50.00 IRA closure fee, while SoFi Invest® charges neither. Furthermore, SoFi Invest® provides more affordable Account Transfers (ACAT) fees, with both partial and full transfers priced at $100.00 compared to TradeStation's $125.00 fee. Additionally, for options exercises and assignments, SoFi Invest® maintains lower fees, which include a $5.00 charge per transaction against TradeStation’s higher fees. Such distinctions can weigh heavily on an investor's decision when evaluating the overall costs associated with each platform.

Feature TradeStation logoTradeStation
SoFi Invest® logoSoFi Invest®
Minimum Deposit $0.00 $5.00
Stock Trades $0.00 $0.00
Options (Per Contract) $0.60 $0.00
Options Exercise Fee $14.95 $5.00
Options Assignment Fee $5.95 $5.00
IRA Annual Fee $35.00 $0.00
IRA Closure Fee $50.00 $20.00
Commissions & Fees 4.5/5 Stars 4.5/5 Stars

Dive deeper: Best Free Trading Platforms for 2025

Day Trading

When comparing the day trading capabilities of online brokers, TradeStation clearly stands out over SoFi Invest®. TradeStation offers a suite of advanced trading features designed to enhance the experience and efficiency of active traders. Users can benefit from streaming time and sales for stocks, direct market routing, ladder trading, and the use of trading hotkeys for seamless keyboard trade entry. Additionally, TradeStation provides level 2 quotes and both basic and advanced strategy backtesting to refine and perfect trading strategies. The inclusion of a short locator tool enables traders to view real-time availability of shares for shorting, and order liquidity rebates further add to TradeStation's robust offering for active and professional traders.

On the other hand, SoFi Invest® lacks many of the advanced day trading features that TradeStation provides. While it may be suitable for investment beginners or those seeking a simpler platform, SoFi Invest® doesn't support streaming time and sales, direct market routing, ladder trading, or trading hotkeys. It also doesn't provide level 2 quotes or any form of strategy backtesting. Furthermore, SoFi Invest® does not offer a short locator tool or order liquidity rebates, making it less equipped for serious day traders who require these advanced functionalities to execute and manage trades effectively.

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

Dive deeper: Best Day Trading Platforms for 2025

Market Research

For investors primarily concerned with market research capabilities, TradeStation generally outshines SoFi Invest®. Rated three stars by StockBrokers.com and ranked 10th out of 18 brokers for market research, TradeStation provides a more robust platform compared to SoFi Invest®, which is rated two stars and ranked 18th. TradeStation offers stock, ETF, and Pink Sheets/OTCBB research along with a stock screener for trade ideas, making it a superior choice for those focused on in-depth analysis and investment strategy development.

TradeStation's research capabilities extend to various asset classes, offering insights through stock and ETF research unavailable on SoFi Invest®. While both platforms provide the ability to view portfolio allocation by asset class, the depth of research at TradeStation is markedly broader. One of TradeStation's distinguishing features is its stock screener, a valuable tool for investors seeking intricate trade ideas, further asserting its edge over SoFi Invest®, which does not offer this feature.

Neither TradeStation nor SoFi Invest® supports research on mutual funds or bonds, nor do they utilize social media sentiment data or ESG (Environmental, Social, and Governance) research. Similarly, both platforms lack downloadable PDF research reports for stocks, ETFs, and mutual funds, alongside limited capabilities for ETF and mutual fund screeners. Despite these gaps, TradeStation's overall research offerings make it a more comprehensive option for investors when compared to SoFi Invest®.

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

Banking

When comparing the banking capabilities of online brokers, TradeStation and SoFi Invest® present notable differences. TradeStation does not provide checking accounts, savings accounts, debit cards, or credit cards, limiting its offerings to investment and trading services. In contrast, SoFi Invest® caters to more comprehensive personal finance needs, offering checking and savings accounts with the added convenience of debit and credit cards. Additionally, SoFi Invest® extends its services to include mortgage loans, enhancing its appeal to users seeking a broader range of financial products. Neither platform currently offers certificates of deposit (CDs), but SoFi Invest® clearly distinguishes itself with superior banking services compared to TradeStation.

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

Dive deeper: Best Bank Accounts for Trading Stocks for 2025

Winner

After opening live accounts and testing 18 of the best online brokers, our research and live account testing finds that TradeStation is better than SoFi Invest®. TradeStation finished with an overall score of 81.7%, while SoFi Invest® finished with a score of 73.7%.

TradeStation supports casual traders through its web-based platform and active traders through its desktop platform. We like the web-based platform and mobile app, but the flagship desktop platform could use a refresh.

FAQs

Can you trade cryptocurrency with TradeStation or SoFi Invest®?

When comparing TradeStation to SoFi Invest® in terms of cryptocurrency trading, both platforms currently do not support crypto trading, offering zero coins for trading.

Dive deeper: Best Online Brokers for Crypto Trading in 2025

Does TradeStation or SoFi Invest® offer IRAs?

Both TradeStation and SoFi Invest® offer traditional and Roth IRA accounts, but while SoFi Invest® provides these without any annual fees, TradeStation charges a $35.00 annual fee. Additionally, the closure fee for IRA accounts is more affordable with SoFi Invest® at $20.00, compared to TradeStation's $50.00 fee.

Dive deeper: Best IRA Accounts for 2025

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Compare

0 of 5
Overall Rating TradeStation SoFi Invest®
Overall 4/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 3/5 Stars
Platforms & Tools 4.5/5 Stars 2.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 3/5 Stars
Research 3/5 Stars 2/5 Stars
Customer Service 3.5/5 Stars 4/5 Stars
Education 3.5/5 Stars 4.5/5 Stars
Ease Of Use 3.5/5 Stars 4.5/5 Stars
Winner check_circle
Review TradeStation Review SoFi Invest® Review
Broker Screenshots TradeStation 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 TradeStation SoFi Invest®
Minimum Deposit $0.00 $5.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) info $0.01 info N/A
Mutual Fund Trade Fee $14.95 $0
Options (Per Contract) $0.60 $0.00
Futures (Per Contract) $1.50 $0.00
Broker Assisted Trade Fee $25 N/A
Margin Rates TradeStation SoFi Invest®
Margin Rate Under $25,000 13.0% 11.25%
Margin Rate $25,000 to $49,999.99 13.0% 11.25%
Margin Rate $50,000 to $99,999.99 12.5% 11.25%
Margin Rate $100,000 to $249,999.99 12.0% 11.25%
Margin Rate $250,000 to $499,999.99 12.0% 11.25%
Margin Rate $500,000 to $999,999.99 7.5% info 11.25%
Margin Rate Above $1,000,000 7.5% info 11.25%
Account Fees TradeStation SoFi Invest®
IRA Annual Fee $35.00 $0.00
IRA Closure Fee $50.00 $20.00
Account Transfer Out (Partial) info $125.00 $100.00
Account Transfer Out (Full) info $125.00 $100.00
Options Exercise Fee $14.95 $5.00
Options Assignment Fee $5.95 $5.00
Investment Options TradeStation SoFi Invest®
Stock Trading info Yes Yes
Margin Trading Yes Yes
Fractional Shares info No Yes
OTC Stocks info Yes Yes
Options Trading info Yes Yes
Complex Options Max Legs info 4 0
Futures Trading info Yes No
Forex Trading info No No
Crypto Trading info No No info
Crypto Trading - Total Coins info 0 0
Mutual Funds (No Load) info 800 0
Mutual Funds (Total) info 4000 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 TradeStation 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 TradeStation 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 No Yes
Retirement Calculator info No No
Investor Dictionary info No Yes
Paper Trading info Yes 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 TradeStation 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 TradeStation 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 TradeStation SoFi Invest®
Charting - After-Hours info Yes No
Charting - Can Turn Horizontally info No No
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 45 0
Charting - Study Customizations info Yes No
Charting - Stock Comparisons info No No
Trading Platforms TradeStation SoFi Invest®
Active Trading Platform info TradeStation 10 N/A
Desktop Trading Platform info Yes No
Desktop Platform (Mac) info No No
Web Trading Platform info Yes Yes
Paper Trading info Yes No
Trade Journal info No No
Watch Lists - Total Fields info 341 3
Stock Chart Features TradeStation SoFi Invest®
Charting - Adjust Trades on Chart info Yes No
Charting - Indicators / Studies info 294 0
Charting - Drawing Tools info 23 0
Charting - Notes info Yes No
Charting - Index Overlays info Yes No
Charting - Historical Trades info Yes No
Charting - Corporate Events info Yes No
Charting - Custom Date Range info Yes No
Charting - Custom Time Bars info Yes No
Charting - Automated Analysis info Yes No
Charting - Save Profiles info Yes No
Trade Ideas - Technical Analysis info Yes No
Charting - Study Customizations info 12 0
Charting - Custom Studies info Yes No
Day Trading TradeStation SoFi Invest®
Streaming Time & Sales info Yes No
Streaming TV info No No
Direct Market Routing - Stocks info Yes No
Ladder Trading info Yes No
Trade Hotkeys info Yes No
Level 2 Quotes - Stocks info Yes No
Trade Ideas - Backtesting info Yes No
Trade Ideas - Backtesting Adv info Yes No
Short Locator info Yes No
Order Liquidity Rebates info Yes No
Research Overview TradeStation SoFi Invest®
Research - Stocks info Yes No
Research - ETFs info Yes No
Research - Mutual Funds info No No
Research - Pink Sheets / OTCBB info Yes No
Research - Bonds info No No
Screener - Stocks info Yes No
Screener - ETFs info No No
Screener - Mutual Funds info No No
Screener - Bonds info No No
Misc - Portfolio Allocation info Yes Yes
Stock Research TradeStation SoFi Invest®
Stock Research - PDF Reports info 0 0
Stock Research - Earnings info No No
Stock Research - Insiders info No No
Stock Research - Social info No No
Stock Research - News info Yes Yes
Stock Research - ESG info No No
Stock Research - SEC Filings info No No
ETF Research TradeStation SoFi Invest®
ETFs - Strategy Overview info No Yes
ETF Fund Facts - Inception Date info No No
ETF Fund Facts - Expense Ratio info No Yes
ETF Fund Facts - Net Assets info No No
ETF Fund Facts - Total Holdings info No No
ETFs - Top 10 Holdings info No Yes
ETFs - Sector Exposure info No No
ETFs - Risk Analysis info No No
ETFs - Ratings info No No
ETFs - Morningstar StyleMap info No No
ETFs - PDF Reports info No No
Mutual Fund Research TradeStation SoFi Invest®
Mutual Funds - Strategy Overview info No No
Mutual Funds - Performance Chart info No No
Mutual Funds - Performance Analysis info No No
Mutual Funds - Prospectus info No No
Mutual Funds - 3rd Party Ratings info Yes No
Mutual Funds - Fees Breakdown info No No
Mutual Funds - Top 10 Holdings info No No
Mutual Funds - Asset Allocation info No No
Mutual Funds - Sector Allocation info No No
Mutual Funds - Country Allocation info No No
Mutual Funds - StyleMap info No No
Options Trading TradeStation SoFi Invest®
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info Yes No
Option Chains - Streaming info Yes No
Option Chains - Total Columns info 29 0
Option Chains - Greeks info 5 0
Option Chains - Quick Analysis info Yes No
Option Analysis - P&L Charts info Yes No
Option Probability Analysis info Yes No
Option Probability Analysis Adv info Yes No
Option Positions - Greeks info Yes No
Option Positions - Greeks Streaming info Yes No
Option Positions - Adv Analysis info Yes No
Option Positions - Rolling info Yes No
Option Positions - Grouping info Yes No
Banking TradeStation SoFi Invest®
Bank (Member FDIC) info No Yes
Checking Accounts info No Yes
Savings Accounts info No Yes
Credit Cards info No Yes
Debit Cards info No Yes
Mortgage Loans info No Yes
Customer Service TradeStation 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 TradeStation SoFi Invest®
Overall 4/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 3/5 Stars
Platforms & Tools 4.5/5 Stars 2.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 3/5 Stars
Research 3/5 Stars 2/5 Stars
Education 3.5/5 Stars 4.5/5 Stars
Ease Of Use 3.5/5 Stars 4.5/5 Stars
Winner check_circle
Review TradeStation Review SoFi Invest® Review
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