Futu is a NASDAQ-listed brokerage established in 2012. The fintech firm offers multi-asset trading opportunities on two proprietary platforms; Futubull and moomoo. Futu holds licenses with 20+ authorities including the ASIC, NFA and SFC. An impressive 15 million customers trade with Futu.
SoFi Invest is an American wealth management and robo advisory service, providing equity and cryptocurrency investment portfolios with competitive fees. The firm is heavily regulated and registered with the SEC and FINRA. First launched in 2011, the firm has attracted millions of clients and various awards.
Comment by Reviewer
"Futu is best for investing in Hong Kong, Chinese and US stock markets with transparent pricing. The broker is trustworthy with strong regulatory oversight and multiple awards."
"SoFi Invest is a good stop for investors who want automated assistance with their stock and ETF investment decisions. The fractional shares and no minimum deposit will appeal to newer traders in particular."
Pros
Reputable brokerage listed on the NASDAQ and registered with tier-one regulators
Extensive list of investments including stocks, options, ETFs, warrants, bonds and IPOs
Transparent pricing model with no commission fees to trade HK stocks & ETFs and free market data
Easy-to-use proprietary trading platform with desktop software, browser compatibility and a mobile app
Regulated worldwide with segregated client funds, ISO27001 security credentials and investor compensation schemes
Investor backing from several corporations including Tencent Holdings
NiuNiu community-based platform with NiuNiu Classroom education access
Pre-IPO trading hours access
Can be tethered to other SoFi accounts, including SoFi Loans, SoFi money accounts and SoFi credit cards
Robo advisors can make investments according to user-defined goals and risk appetite
Straightforward platform makes investing easier for beginners
More than 4000 US stocks and ETFs with no commission
Start investing in fractional shares for as little as $5
Access to a free on-demand financial advisor
Automated dividend reinvestments
Users can participate in IPOs
SEC- and FINRA-regulated
No minimum deposit
Cons
Limited number of payment methods with no e-wallets such as Skrill, Neteller or PayPal
High minimum deposit requirement of HKD 10,000 or USD 1,500
No live chat support available
Forex trading not available
No MT4 or MT5 access
Basic portfolio reports with individual investment numbers only and no charts
Limited order types (no stop-losses)
Not much data supplied for securities
Commissions on crypto trades
Only six ETFs available
No tax-loss harvesting
Long withdrawal times
Awards
HKEX - Business Innovation Information Vendors 2017
Trade 22 cryptocurrencies including Bitcoin, Binance Coin, Uniswap and Polkadot from as little as $10, making it a good pick for beginners. The broker charges a competitive 1.25% commission on crypto trades.
