Tradier vs SoFi Invest 2024
In this head to head comparison of Tradier vs SoFi Invest, 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 Tradier vs SoFi Invest, we will compare the trading platforms, mobile apps, investment options, costs, market research, and more. Let's dive in.
When evaluating the range of investment options, Tradier and SoFi Invest each present distinct advantages. Tradier, boasting a four-star rating and ranking thirteenth out of eighteen by StockBrokers.com, offers robust options for stock, margin, mutual funds, and options trading, alongside traditional and Roth IRA accounts. In contrast, SoFi Invest, while slightly lower rated with three stars and a sixteenth-place ranking, distinguishes itself by providing fractional shares trading and OTC stocks, in addition to the basic offerings of stocks, mutual funds, options, and IRA accounts.
Both Tradier and SoFi Invest facilitate stock, margin, mutual funds, and options trading, while neither brokerage currently offers forex or futures trading. Additionally, both platforms lack cryptocurrency trading capabilities, providing zero cryptocurrencies for investment. Where Tradier falls short in its offerings for fractional shares and OTC stocks, SoFi Invest steps in to provide these options, making it a favorable choice for investors looking to diversify their portfolios with these specific investment types.
A closer look reveals Tradier's focus on traditional investment opportunities without the added complexity of fractional shares or OTC investments, catering to more conventional traders. Conversely, SoFi Invest complements its general investment choices with the availability of advisor services, making it a potential pick for investors who seek guidance in addition to a broader investment variety. Ultimately, Tradier and SoFi Invest present unique strengths and limitations depending on the investor's specific needs and trading preferences.
Feature |
Tradier
|
SoFi Invest
|
---|---|---|
Stock Trading | Yes | Yes |
Margin Trading | Yes | Yes |
Fractional Shares | No | Yes |
OTC Stocks | No | Yes |
Mutual Funds | Yes | Yes |
Options Trading | Yes | Yes |
Futures Trading | No | No |
Crypto Trading | No | No |
Crypto Trading - Total Coins | 0 | 0 |
Investment Options |
Dive deeper: Best Options Trading Platforms & Brokers, 5 Best Futures Trading Platforms of 2024
In the realm of online trading platforms and tools, Tradier holds a distinct edge over SoFi Invest. Tradier is rated 3.5 stars compared to SoFi Invest's 2.5 stars and ranks tenth out of eighteen brokers according to StockBrokers.com, while SoFi Invest ranks fifteenth. Tradier's appealing features, such as browser-based trading, robust technical indicators for charting, and the ability to add notes and show historical trades on charts, make it a compelling choice for traders seeking comprehensive analytical tools. Moreover, Tradier also offers paper trading, a feature absent in SoFi Invest, allowing users to practice their trading strategies without real financial risk.
Both Tradier and SoFi Invest lack downloadable desktop trading platforms for Windows and Mac, offering browser-based options instead. This accessibility simplifies the process for users who prefer trading through web interfaces. Their watchlist capabilities are evenly matched, with both platforms providing three columns to help traders track their preferred stocks. However, neither platform allows direct adjustments to open orders on stock charts or includes a trading journal for reflecting on past trades.
When it comes to charting capabilities, Tradier surpasses SoFi Invest with 95 available technical indicators, while SoFi Invest offers none. Although neither platform provides drawing tools or certain customization features like automated technical analysis, Tradier includes seven customization fields for editing SMA studies in stock charts, unlike SoFi Invest. For traders prioritizing technical analysis and customization options, Tradier's tools position it as the superior choice in this head-to-head comparison.
Feature |
Tradier
|
SoFi Invest
|
---|---|---|
Web Trading Platform | Yes | Yes |
Desktop Trading Platform | No | No |
Desktop Platform (Mac) | No | No |
Paper Trading | Yes | No |
Watch Lists - Total Fields | 3 | 3 |
Charting - Indicators / Studies | 95 | 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 investor education for beginners, SoFi Invest significantly outperforms Tradier. SoFi Invest offers a comprehensive suite of educational resources that cover stocks, ETFs, options, mutual funds, and bonds, providing a solid foundation for novice investors. Additionally, SoFi Invest enhances learning through dynamic webinars, despite lacking educational videos and quizzes. In contrast, Tradier's educational offerings are sparse, with no resources available for stocks, ETFs, options, mutual funds, or bonds education; however, it does provide paper trading for practical, risk-free experience.
In terms of ratings and rankings, SoFi Invest receives an impressive 4.5 stars for its educational offerings and is ranked 7th out of 18 brokers by StockBrokers.com. This positions SoFi Invest as a leading choice for beginner and investor education. Meanwhile, Tradier earns a modest 2-star rating and is ranked 17th, indicating that it lags behind competitors in this crucial area. Consequently, for those seeking a rich educational experience to enhance their investing skills, SoFi Invest clearly stands out over Tradier.
Feature |
Tradier
|
SoFi Invest
|
---|---|---|
Education (Stocks) | No | Yes |
Education (ETFs) | No | Yes |
Education (Options) | No | Yes |
Education (Mutual Funds) | No | Yes |
Education (Bonds) | No | Yes |
Paper Trading | Yes | No |
Videos | No | No |
Webinars | No | Yes |
Education |
Dive deeper: Best Stock Trading Platforms for Beginners of 2024
When comparing Tradier and SoFi Invest for their stock trading app capabilities, Tradier tends to have a slight edge. Tradier offers mobile after-hours stock trading and mobile options trading, both absent from SoFi Invest. Additionally, Tradier includes streaming quotes and the ability to create custom watch lists, further distinguishing its services from those of SoFi Invest. Tradier's stock trading app holds a 4-star rating, making it a popular choice amongst users, while SoFi Invest comes in at 3 stars. Tradier ranks #15 among 18 brokers according to StockBrokers.com, whereas SoFi Invest follows just behind at #16.
Both Tradier and SoFi Invest provide apps for iPhone and Android platforms, catering to a wide spectrum of mobile users. However, neither broker has extended its app capabilities to Apple Watch nor incorporated features like streaming live TV or video-on-demand. Additionally, both apps lack functionalities such as after-hours charting and customizable watch list columns. Users seeking stock alerts will also find neither app currently offers this feature.
While both Tradier and SoFi Invest allow viewing multiple time frames for charting, they do not offer technical studies or the ability to display stock comparisons on charts. Neither supports viewing charts in landscape mode, which may be a consideration for those specifically seeking advanced charting features. Despite these limitations, Tradier's enhanced mobile trading capabilities and higher user ratings suggest it might be the more favorable option for users focused on these aspects.
Feature |
Tradier
|
SoFi Invest
|
---|---|---|
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 considering online brokers, it’s essential to weigh the costs and fees associated with trading to determine which platform best suits your financial needs. Tradier and SoFi Invest both attract investors with commission-free stock trades, yet they differ significantly in other charges. Tradier stands out with a zero minimum deposit requirement, appealing to beginners or those looking to try trading without a financial commitment. In contrast, SoFi Invest requires a modest minimum deposit of $5.00, which might be negligible for most investors but still a point of consideration. However, SoFi Invest has an advantage in options trading at no cost per contract, whereas Tradier charges $0.35, potentially accumulating costs for options-heavy traders.
Both platforms are on equal footing with a competitive 9.5% margin interest rate across various balance tiers, ensuring that margin users won't find a cost discrepancy there. In terms of account types, Tradier imposes fees for maintaining and closing IRA accounts, with a $30 annual fee and a steep $60 for closure. SoFi Invest users benefit from a fee waiver in these areas, along with a more reasonable $20 closure fee, making it a cost-effective choice for retirement savers. When transferring accounts, Tradier again holds an edge with lower partial and full ACAT fees of $75 compared to SoFi's $100, providing long-term savings for users contemplating account migration.
In the realm of options exercise and assignment, SoFi Invest presents more attractive rates of $5.00 compared to Tradier's higher $9.00 fee, a deciding factor for traders who frequently engage in these activities. Ultimately, while both Tradier and SoFi Invest offer valuable trading opportunities without regular stock trade commissions, SoFi's zero fees on options contracts and lack of IRA annual fees could sway investors looking to maximize efficiency in their trading expenses, particularly for those vigilant about additional charges or engaged in futures and options trading.
Feature |
Tradier
|
SoFi Invest
|
---|---|---|
Minimum Deposit | $0.00 | $5.00 |
Stock Trades | $0.00 | $0.00 |
Options (Per Contract) | $0.35 | $0.00 |
Options Exercise Fee | $9.00 | $5.00 |
Options Assignment Fee | $9.00 | $5.00 |
IRA Annual Fee | $30.00 | $0.00 |
IRA Closure Fee | $60.00 | $20.00 |
Commissions & Fees |
Dive deeper: Best Brokers for Free Stock Trading of 2024
When evaluating Tradier and SoFi Invest for their day trading capabilities, both platforms show limitations in key features essential for active traders. Neither Tradier nor SoFi Invest offer streaming time and sales for stocks, streaming live TV, direct market routing, or ladder trading, all of which are important for traders seeking rapid execution and data analysis. Moreover, neither platform provides trading hotkeys for keyboard trade entry, which can be crucial for traders who rely on speed and efficiency during active trading sessions.
Additionally, both Tradier and SoFi Invest lack advanced features commonly sought by day traders, such as level 2 quotes, basic and advanced strategy backtesting, and a short locator tool to view real-time availability of shares for short selling. Furthermore, traders looking to benefit from order liquidity maker/taker rebates will not find such incentives on either platform. In a comparison focused on day trading capabilities, Tradier and SoFi Invest offer similar limitations, providing a basic trading experience that may not fully meet the needs of more experienced day traders.
Feature |
Tradier
|
SoFi Invest
|
---|---|---|
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 it comes to market research capabilities, Tradier slightly outperforms SoFi Invest. Tradier provides stock and ETF research, which gives it an edge over SoFi Invest, offering no such research in either category. This marginal advantage is reflected in Tradier's 2.5-star rating, compared to SoFi Invest's 2 stars for market research, according to StockBrokers.com rankings, where Tradier ranks 16th out of 18 brokers while SoFi Invest is positioned at the bottom.
Despite Tradier’s advantage in providing some level of stock and ETF research, both platforms share several limitations in their market research offerings. Neither broker provides mutual fund, Pink Sheets/OTCBB, or bond research capabilities. Additionally, neither offers further insights such as social media sentiment data or ESG (Environmental, Social, and Governance) research. This lack of advanced market research tools limits their appeal for traders looking for comprehensive analytical capabilities.
No downloadable PDF research reports are available from either Tradier or SoFi Invest for stocks, ETFs, or mutual funds. Also absent from their offerings are screeners for trade ideas across stocks, ETFs, mutual funds, and bonds. However, SoFi Invest does offer users the ability to view portfolio allocation by asset class, a feature not provided by Tradier. While Tradier paves a path with its basic stock and ETF research, neither platform stands out substantially in terms of overall market research tools.
Feature |
Tradier
|
SoFi Invest
|
---|---|---|
Research - Stocks | Yes | No |
Screener - Stocks | No | No |
Research - ETFs | Yes | No |
Screener - ETFs | No | No |
Research - Mutual Funds | No | No |
Screener - Mutual Funds | No | No |
Research - Bonds | No | No |
Screener - Bonds | No | No |
Research |
When comparing the banking capabilities of online brokers Tradier and SoFi Invest, SoFi Invest emerges as the more comprehensive option. Unlike Tradier, which does not provide traditional banking services, SoFi Invest offers a variety of banking features including checking and savings accounts. Additionally, SoFi Invest provides users with debit and credit card options, enhancing flexibility for everyday transactions. For those interested in homeownership, SoFi Invest also extends mortgage loan services, again a feature not available with Tradier. Both platforms, however, do not offer Certificates of Deposit (CDs). Overall, SoFi Invest's extensive banking services make it a more rounded choice for users seeking integrated financial solutions.
Feature |
Tradier
|
SoFi Invest
|
---|---|---|
Checking Accounts | No | Yes |
Savings Accounts | No | Yes |
Debit Cards | No | Yes |
Credit Cards | No | Yes |
Mortgage Loans | No | Yes |
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 Tradier is better than SoFi Invest. Tradier finished with an overall score of 77.0%, while SoFi Invest finished with a score of 73.7%.
If you’re trying out advanced charting applications and want to trade from them, Tradier Brokerage is a very logical choice, though as a stand-alone broker it trails the offerings of industry leaders.
When comparing online brokers Tradier and SoFi Invest, both platforms currently do not offer cryptocurrency trading, with neither providing any coins for crypto transactions.
Dive deeper: Best Crypto Trading Platforms of 2024
Both Tradier and SoFi Invest offer traditional and Roth IRA accounts, but while SoFi Invest charges no annual fee for IRA accounts compared to Tradier's $30.00 annual fee, closing an IRA account with SoFi Invest incurs a fee of $20.00, which is significantly lower than Tradier's $60.00 closure fee.
Dive deeper: Best IRA Accounts of 2024
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0 of 5Overall Rating | Tradier | SoFi Invest | |
---|---|---|---|
Overall | |||
Commissions & Fees | |||
Investment Options | |||
Platforms & Tools | |||
Mobile Trading Apps | |||
Research | |||
Customer Service | |||
Education | |||
Ease Of Use | |||
Winner | check_circle | ||
Review | Tradier Review | SoFi Invest Review |
Broker Screenshots | Tradier | 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 | Tradier | SoFi Invest | |
---|---|---|---|
Minimum Deposit | $0.00 | $5.00 | |
Stock Trades | $0.00 | $0.00 | |
Penny Stock Fees (OTC) | N/A | N/A | |
Mutual Fund Trade Fee | $30 | $0 | |
Options (Per Contract) | $0.35 | $0.00 | |
Futures (Per Contract) | (Not offered) | $0.00 | |
Broker Assisted Trade Fee | $10 | N/A |
Margin Rates | Tradier | SoFi Invest | |
---|---|---|---|
Margin Rate Under $25,000 | 9.5% | 9.5% | |
Margin Rate $25,000 to $49,999.99 | 9.5% | 9.5% | |
Margin Rate $50,000 to $99,999.99 | 9.5% | 9.5% | |
Margin Rate $100,000 to $249,999.99 | 9.5% | 9.5% | |
Margin Rate $250,000 to $499,999.99 | 9.5% | 9.5% | |
Margin Rate $500,000 to $999,999.99 | 9.5% | 9.5% | |
Margin Rate Above $1,000,000 | 9.5% | 9.5% |
Account Fees | Tradier | SoFi Invest | |
---|---|---|---|
IRA Annual Fee | $30.00 | $0.00 | |
IRA Closure Fee | $60.00 | $20.00 | |
Account Transfer Out (Partial) | $75.00 | $100.00 | |
Account Transfer Out (Full) | $75.00 | $100.00 | |
Options Exercise Fee | $9.00 | $5.00 | |
Options Assignment Fee | $9.00 | $5.00 |
Investment Options | Tradier | SoFi Invest | |
---|---|---|---|
Stock Trading | Yes | Yes | |
Margin Trading | Yes | Yes | |
Fractional Shares | No | Yes | |
OTC Stocks | No | 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) | 0 | 0 | |
Mutual Funds (Total) | 0 | 6000 | |
Bonds (US Treasury) | No | No | |
Bonds (Corporate) | No | No | |
Bonds (Municipal) | No | No | |
Traditional IRAs | Yes | Yes | |
Roth IRAs | Yes | Yes | |
Advisor Services | No | Yes | |
International Countries (Stocks) | 0 | 0 |
Order Types | Tradier | 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 | No | No | |
Order Type - OCO | Yes | No | |
Order Type - OTO | Yes | No | |
Order Type - Broker Assisted | Yes | No |
Beginners | Tradier | SoFi Invest | |
---|---|---|---|
Education (Stocks) | No | Yes | |
Education (ETFs) | No | Yes | |
Education (Options) | No | Yes | |
Education (Mutual Funds) | No | Yes | |
Education (Bonds) | No | Yes | |
Education (Retirement) | No | Yes | |
Retirement Calculator | No | No | |
Investor Dictionary | No | Yes | |
Paper Trading | Yes | No | |
Videos | No | No | |
Webinars | No | Yes | |
Webinars (Archived) | No | Yes | |
Progress Tracking | No | No | |
Interactive Learning - Quizzes | No | No |
Stock Trading Apps | Tradier | 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 | No | No |
Stock App Features | Tradier | SoFi Invest | |
---|---|---|---|
Market Movers (Top Gainers) | Yes | Yes | |
Stream Live TV | No | No | |
Videos on Demand | No | No | |
Stock Alerts | No | No | |
Option Chains Viewable | Yes | No | |
Watch List (Real-time) | Yes | Yes | |
Watch List (Streaming) | No | No | |
Watch Lists - Create & Manage | Yes | No | |
Watch Lists - Column Customization | No | No |
Stock App Charting | Tradier | SoFi Invest | |
---|---|---|---|
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 | No |
Trading Platforms | Tradier | SoFi Invest | |
---|---|---|---|
Active Trading Platform | TradeHawk | N/A | |
Desktop Trading Platform | No | No | |
Desktop Platform (Mac) | No | No | |
Web Trading Platform | Yes | Yes | |
Paper Trading | Yes | No | |
Trade Journal | No | No | |
Watch Lists - Total Fields | 3 | 3 |
Stock Chart Features | Tradier | SoFi Invest | |
---|---|---|---|
Charting - Adjust Trades on Chart | No | No | |
Charting - Indicators / Studies | 95 | 0 | |
Charting - Drawing Tools | 0 | 0 | |
Charting - Notes | Yes | No | |
Charting - Index Overlays | No | No | |
Charting - Historical Trades | Yes | 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 | 7 | 0 | |
Charting - Custom Studies | No | No |
Day Trading | Tradier | 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 | Tradier | SoFi Invest | |
---|---|---|---|
Research - Stocks | Yes | No | |
Research - ETFs | Yes | No | |
Research - Mutual Funds | No | No | |
Research - Pink Sheets / OTCBB | No | No | |
Research - Bonds | No | No | |
Screener - Stocks | No | No | |
Screener - ETFs | No | No | |
Screener - Mutual Funds | No | No | |
Screener - Bonds | No | No | |
Misc - Portfolio Allocation | No | Yes |
Stock Research | Tradier | SoFi Invest | |
---|---|---|---|
Stock Research - PDF Reports | 0 | 0 | |
Stock Research - Earnings | No | No | |
Stock Research - Insiders | No | No | |
Stock Research - Social | No | No | |
Stock Research - News | No | Yes | |
Stock Research - ESG | No | No | |
Stock Research - SEC Filings | No | No |
ETF Research | Tradier | SoFi Invest | |
---|---|---|---|
ETFs - Strategy Overview | No | Yes | |
ETF Fund Facts - Inception Date | No | No | |
ETF Fund Facts - Expense Ratio | No | Yes | |
ETF Fund Facts - Net Assets | No | No | |
ETF Fund Facts - Total Holdings | No | No | |
ETFs - Top 10 Holdings | No | Yes | |
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 | Tradier | SoFi Invest | |
---|---|---|---|
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 | Tradier | SoFi Invest | |
---|---|---|---|
Option Chains - Basic View | Yes | Yes | |
Option Chains - Strategy View | No | No | |
Option Chains - Streaming | No | No | |
Option Chains - Total Columns | 8 | 0 | |
Option Chains - Greeks | 1 | 0 | |
Option Chains - Quick Analysis | Yes | No | |
Option Analysis - P&L Charts | No | No | |
Option Probability Analysis | No | No | |
Option Probability Analysis Adv | No | No | |
Option Positions - Greeks | No | No | |
Option Positions - Greeks Streaming | No | No | |
Option Positions - Adv Analysis | No | No | |
Option Positions - Rolling | No | No | |
Option Positions - Grouping | No | No |
Banking | Tradier | SoFi Invest | |
---|---|---|---|
Bank (Member FDIC) | No | Yes | |
Checking Accounts | No | Yes | |
Savings Accounts | No | Yes | |
Credit Cards | No | Yes | |
Debit Cards | No | Yes | |
Mortgage Loans | No | Yes |
Customer Service | Tradier | SoFi Invest | |
---|---|---|---|
Phone Support (Prospect Customers) | Yes | Yes | |
Phone Support (Current Customers) | Yes | Yes | |
Email Support | Yes | No | |
Live Chat (Prospect Customers) | No | Yes | |
Live Chat (Current Customers) | No | Yes | |
24/7 Support | No | No |
Overall | Tradier | SoFi Invest | |
---|---|---|---|
Overall | |||
Commissions & Fees | |||
Investment Options | |||
Platforms & Tools | |||
Mobile Trading Apps | |||
Research | |||
Education | |||
Ease Of Use | |||
Winner | check_circle | ||
Review | Tradier Review | SoFi Invest Review |