SoFi Invest® and Robinhood are among the top mobile-first trading platforms available today.
Both platforms offer no-fee commission trading on stocks, exchange-traded funds (ETFs) and options, with no per-contract fees, as well as fractional share trading and matching IRA contributions.
SoFi Invest distinguishes itself by providing financial advisory services and access to mutual and interval funds.
On the other hand, Robinhood stands out with its access to cryptocurrency trading and an exceptionally user-friendly trading platform. It’s also known for its intuitive design and ease of use.
These trading apps are both excellent choices, catering to different investing needs and preferences.
$25 per account for every 6 months of login inactivity
$0
Customer support
Live chat, phone and email support, but only during regular business hours
24/7 support, live chat, phone support
Mobile app reviews
Apple App Store: 4.8/5 stars based on over 343,880 reviews
Google Play Store: 3.9/5 stars based on over 35,240 reviews
Apple App Store: 4.2/5 stars based on over 4.3 million reviews
Google Play Store: 4.1/5 stars based on over 489,730 reviews
Bonus offer
Earn up to $1,000 in stock when you open a new SoFi Active Invest account and add at least $10 in new funding within 30 days.
Earn a 2% bonus on transfers from an outside brokerage to Robinhood until March 31 with Robinhood Gold. Must hold your assets for 5 years and remain a Gold member for 1 year.
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees.
Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA (www.finra.org) /SIPC(www.sipc.org).
There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event.
Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options
Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser.
Utilizing a margin loan is generally considered more appropriate for experienced investors as there are additional costs and risks associated. It is possible to lose more than your initial investment when using margin. Please see https://www.sofi.com/wealth/assets/documents/brokerage-margin-disclosure-statement.pdf for detailed disclosure information
SoFi Plus members can schedule an unlimited number of appointments with a financial planner during periods in which the SoFi Plus member meets the eligibility criteria set forth in section 10(a) of the SoFi Plus Terms and Conditions. SoFi members who are not members of SoFi Plus can schedule one (1) appointment with a financial planner. The ability to schedule appointments is subject to financial planner availability. SoFi reserves the right to change or terminate this benefit at any time with or without notice. Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov.
Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 45 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Probability percentage is subject to decrease
Robo Advisor: Automated investing is offered through SoFi Wealth LLC, an SEC-registered investment adviser. 0.25% fee is based on your account value. The wrap program fee may cost more or less than purchasing brokerage, custodial, and record keeping services separately.
Terms and conditions apply*. For 401k rollovers, existing SoFi IRA members must complete 401k rollovers via this link For SoFi members without a SoFi IRA, a SoFi IRA must first be opened, and 401k rollover must be completed utilizing Capitalize via this link. SoFi and Capitalize will charge no additional fees to process a 401(k) rollover to a SoFi IRA. SoFi is not liable for any costs incurred from the existing 401k provider for rollover. Please check with your 401k provider for any fees or costs associated with the rollover. For IRA contributions, only deposits made via ACH and cash transfer from SoFi Bank accounts are eligible for the match. Click here for the 1% Match terms and conditions.
SoFi Plus members are eligible for a 1% match on recurring deposits received into a SoFi InvestⓇ account. For complete SoFi Plus eligibility, please see the SoFi Plus terms.
Members can only earn the 1% match for periods in which a recurring deposit is received into a SoFi InvestⓇ account and the member meets the SoFi Plus eligibility criteria. "Recurring deposits" refer to ACH transfers scheduled with a frequency of weekly, every two weeks, or monthly into either an Active SoFi InvestⓇ account or a SoFi Wealth Automated Investing account. Regular deposits set up from a SoFi Checking & Savings account using Autopilot are eligible for the bonus. One-time transfers are excluded from the bonus. If funds are withdrawn and later redeposited manually into the SoFi InvestⓇ account, the manual deposit will not be eligible for the bonus. Offer can be combined with SoFi Invest 1% IRA match.
Funds must remain in the SoFi InvestⓇ account for two years to be eligible for the bonus. If the deposit is removed prior to the end of the two-year Eligibility Period, SoFi, at its discretion may remove the corresponding proportion of the 1% Match from the member’s account. For instance, if $1,000 was deposited receiving a $10 rewards points match and $500 was withdrawn in a subsequent month, SoFi may remove $5 in rewards points from the bonus. SoFi reserves the right to liquidate securities to pay for the removal of the Match bonus. Further, SoFi may bill this to a receiving firm in the event of an account transfer.
Bonus amounts are calculated on the total net recurring inflows (incoming recurring ACH transfers less outgoing transfers) per calendar month. For example, if a member has a recurring Invest deposit of $1,000 on 11/4/2024 and withdraws $500 on 11/15/2024 and makes no other deposits or withdrawals to their SoFi InvestⓇ account for the month, they will earn 500 rewards points, equal to 1% of $500 net monthly inflows. If a member loses SoFi Plus eligibility at any point throughout the month, they will earn the 1% match only on recurring deposits received while they were a SoFi Plus member. All withdrawals in the calendar month (regardless of Plus status) will count against the bonus. For example, if a member has a recurring Invest deposit of $1,000 on 11/4/2024 as a SoFi Plus member, loses SoFi Plus status on 11/10/2024, and has another recurring Invest deposit of $1,000 on 11/12/2024, they would earn $10 in rewards points (1% of the $1,000 that was deposited while they were a SoFi Plus member).
Bonuses will be paid out as rewards points within two weeks of the end of the calendar month. Members must enroll in SoFi Member Rewards to redeem rewards points, but not to be eligible for the bonus. Rewards points are subject to the SoFi Member Rewards terms. Bonus will not be paid out on SoFi InvestⓇ or SoFi Wealth accounts that are closed or pending closure.
SoFi Invest encompasses two distinct companies, with various products and services offered to investors as described below: 1) Automated Investing and advisory services are provided by SoFi Wealth LLC, an SEC-registered investment adviser ("SoFi Wealth"). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC. 2) Active Investing and brokerage services are provided by SoFi Securities LLC, Member FINRA/ SIPC. Clearing and custody of all securities are provided by APEX Clearing Corporation. Individual customer accounts may be subject to the terms applicable to one or more of these platforms. For additional disclosures related to the SoFi Invest platforms described above please visit SoFi.com/legal. Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform. Please note that the Active Invest platform is self-directed, therefore all monies transferred to your SoFi Active Invest will not be automatically invested.
Check out Finder's picks for the best brokerage accounts
Compare top brokerage accounts and apps to help you maximize your investment.
3% year-round match but requires a $5 monthly Gold membership, or get a 1% match without Gold
Cash sweep rate
0.02% APY
3.50% APY, but requires a $5 monthly Gold subscription
IPO access
Yes
Yes
Instant buying power
Yes
Yes
Paper trading
No
No
24/5 trading
No
Yes
Educational resources
Yes
Yes
How the platforms compare
SoFi Invest and Robinhood offer user-friendly but distinct trading platforms tailored to different types of investors.
SoFi Invest’s platform is clean and ideal for beginners
SoFi Invest features a clean, user-friendly interface designed for effortless navigation across its suite of integrated financial services, making it easy to manage investments alongside other SoFi products like loans and banking.
This seamless experience is particularly ideal for beginners, as the platform simplifies the investing process with clear instructions and accessible features. However, it lacks the research and analysis tools that Robinhood provides.
Robinhood’s platform is sleek, intuitive and beginner-friendly
Robinhood’s platform is renowned for its sleek, minimalist design that appeals to tech-savvy investors. The intuitive, beginner-friendly interface makes navigation and executing trades quick and straightforward.
While its trading tools may not be as extensive as some other brokers, Robinhood offers advanced charts, analyst ratings, a trading trends indicator and Morningstar research, providing valuable insights for making informed investment decisions.
The similarities
SoFi Invest and Robinhood are leading contenders among stock trading apps, offering user-friendly platforms that cater to beginners with no-fee commission stocks, ETFs and options, and no options contract fees.
Both platforms also provide access to IPOs, fractional shares and educational resources to help traders and investors learn and grow.
Which broker is better for beginners?
Robinhood excels in providing a low-cost, intuitive trading experience that simplifies investing. The platform makes it incredibly easy to sign up and start investing, offering some of the lowest fees among brokers we regularly review. Its straightforward and helpful educational content is ideal for those just starting, and its IRA match program can incentivize beginners to kickstart their investing journey.
Conversely, SoFi Invest offers a more holistic and supportive environment for new investors. It provides comprehensive educational resources and access to robo-advisor and financial planners. These features create a well-rounded platform that caters to beginners seeking guidance and robust financial planning support.
While Robinhood is an excellent choice for those wanting a simple, cost-effective way to invest, we believe SoFi Invest is better suited for beginners due to its extensive resources and personalized support.
Which broker is better for advanced traders?
SoFi Invest’s platform offers a straightforward investment experience with a basic chart, company details and news updates, which can be sufficient for beginners seeking a no-fuss way to invest.
Although SoFi Invest supports options trading, it remains beginner-friendly by only allowing level 2 options execution, meaning you can buy calls and puts and sell to close positions.
On the other hand, Robinhood’s platform is equipped with advanced features such as detailed charts, analyst ratings, research reports and level 2 market data from Nasdaq. Additionally, Robinhood includes a trading trends indicator that displays the trading activity of Robinhood customers, hedge funds and company insiders, providing more comprehensive insights to help you make informed decisions.
Robinhood also supports up to level 3 options trading, enabling complex options strategies like straddles, strangles and spreads. Given these advanced tools and capabilities, Robinhood is the clear choice for more experienced and advanced traders.
Which one’s safer and more reliable?
SoFi Invest and Robinhood’s brokerage accounts are SIPC-insured up to $500,000, including $250,000 for cash claims.
Additional insurance policies, security measures and security for their cash sweep programs vary a bit, and both brokers have been fined in the past.
Additional insurance policies
SoFi Invest
SoFi Invest discloses no additional insurance policies.
Robinhood
Supplemental insurance policy covers securities and cash up to a total of $1 billion, with a maximum of $50 million in securities and $1.9 million in uninvested cash per customer. (1)
Security measures
SoFi Invest
Uses industry-standard security measures, including the standard Transport Layer Security (TLS) protocol and two-factor authentication (2FA).
Robinhood
Uses industry-standard security measures, including the standard TLS protocol and 2FA.
Cash sweep insurance
SoFi Invest
Cash swept into partner banks is eligible for FDIC insurance coverage up to $2.5 million.(2)
Robinhood
Cash swept into partner banks is eligible for FDIC insurance coverage up to $2.5 million.(1)
Fines
SoFi Invest In May 2024, the Financial Industry Regulatory Authority (FINRA) censured and fined SoFi Securities $1.1 million for not establishing and maintaining a proper Customer Identification Program for its cash management brokerage account, SoFi Money.
This oversight led to $2.5 million in stolen funds. SoFi settled with FINRA, neither admitting nor denying the charges.
In response to the fraud, SoFi increased staff training and enhanced its customer identity verification logic and fraud identification processes.(3)
Robinhood In June 2021, FINRA fined Robinhood approximately $70 million, the largest financial penalty ever ordered by FINRA, for misleading customers regarding options trading and for outages experienced in March 2020. Robinhood settled with FINRA, neither admitting nor denying the charges.(4)
SoFi Invest vs. Robinhood: Which one’s better?
While SoFi Invest offers a wider range of investment options and access to robo-advisors and financial planners, we think Robinhood provides a superior all-around investment platform.
Robinhood’s intuitive trading experience, user-friendly design and absence of inactivity fees make it an excellent choice for beginners. Additionally, it offers robust trading tools and resources that cater to more advanced traders and investors.
Robinhood also excels with its more generous IRA match program, 24/5 market access, 24/7 customer support and an impressive cash sweep program that pays 3.50% APY for Robinhood Gold subscribers.
For these reasons, we believe Robinhood is the better option.
Alternatives to SoFi Invest and Robinhood
Both SoFi Invest and Robinhood are excellent choices for beginners due to their user-friendly interfaces and no-fee commission trading. However, if you’re looking for more advanced trading tools, there are other platforms worth considering.
Moomoo. Moomoo is another mobile-first trading app that offers commission-free stocks, options and ETFs with no option contract fees. Unlike other beginner-focused platforms, Moomoo provides advanced trading tools comparable to those of larger brokers. These include advanced charts with drawing tools and indicators, analyst ratings, real-time level 2 market data and various stock analysis tools. However, Moomoo has limited account types and does not offer IRAs, making it less versatile for retirement planning.
E*TRADE. E*TRADE, the brokerage arm of investment bank Morgan Stanley, offers a comprehensive range of investment options, including stocks, options, mutual funds, bonds, futures and certificates of deposit (CDs). Although E*TRADE does not offer fractional shares or an IRA match program, it compensates with its extensive investment options and advanced tools suitable for both beginners and advanced traders.
Paid non-client promotion. Finder does not invest money with providers on this page. If a brand is a referral partner, we're paid when you click or tap through to, open an account with or provide your contact information to the provider. Partnerships are not a recommendation for you to invest with any one company. Learn more about how we make money.
Finder is not an advisor or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.
Matt Miczulski is an investments editor and market analyst at Finder. With over 450 bylines, Matt dissects and reviews brokers and investing platforms to expose perks and pain points, explores investment products and concepts and covers market news, making investing more accessible and helping readers to make informed financial decisions.
Before joining Finder in 2021, Matt covered everything from finance news and banking to debt and travel for FinanceBuzz. His expertise and analysis on investing and other financial topics has been featured on Yahoo Finance, CBS, MSN, Best Company and Consolidated Credit, among others. Matt holds a BA in history from William Paterson University.
See full bio
Matt's expertise
Matt
has written
200
Finder guides across topics including:
A beginner-friendly investing platform with fractional shares and no commissions on stocks and ETFs.
Advertiser disclosure
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
