SoFi Invest
4.6 / 5 ★★★★★
SoFi Invest lets you trade commission-free stocks and ETFs while also giving you access to crypto and a robo-advisor.
Like Robinhood, SoFi Invest allows you to open a brokerage account with just $1. But SoFi offers two types of accounts. An active investing account provides access to stocks, ETFs and cryptocurrencies like Bitcoin. But SoFi also gives you access to an automated investing platform with a 0% annual management fee. You just answer a few questions about your finances and it recommends a diversified portfolio built with low-fee ETFs. This portfolio is automatically rebalanced by an advanced algorithm. SoFi also gives you free access to its team of certified financial planners (CFPs) over the phone.
And, if you're interested in early access to IPOs, SoFi is the only Robinhood competitor to release a system for such access to select offerings. (Offerings have been too limited so far to see if one system outperforms the other.)
Like Robinhood, SoFi Invest allows you to open a brokerage account with just $1. But SoFi offers two types of accounts. An active investing account provides access to stocks, ETFs and cryptocurrencies like Bitcoin. But SoFi also gives you access to an automated investing platform with a 0% annual management fee. You just answer a few questions about your finances and it recommends a diversified portfolio built with low-fee ETFs. This portfolio is automatically rebalanced by an advanced algorithm. SoFi also gives you free access to its team of certified financial planners (CFPs) over the phone.
And, if you're interested in early access to IPOs, SoFi is the only Robinhood competitor to release a system for such access to select offerings. (Offerings have been too limited so far to see if one system outperforms the other.)
| Account types | Brokerage, Retirement, Robo-Advisor, Joint brokerage, Margin |
|---|---|
| Annual fee | 0% |
| Available asset types | Stocks, Options, ETFs, Cryptocurrency |
| Annual fee | 0% |
|---|
