SoFi Invest vs Fidelity

SoFi Invest vs Fidelity Comparison Table 2023
SoFi Invest Review 2023 Fidelity Review 2023
3.8

SoFi Invest is #36 in our broker rankings.

3.5

Fidelity is #36 in our broker rankings.

United States Flag Traders from US accepted
United States Flag Traders from US accepted

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.

Fidelity is a popular financial services firm that provides investment accounts and pensions with access to thousands of stocks, ETFs and mutual funds to clients based in the US, Europe and Asia. Fees vary by asset and account country, but are generally competitive, with zero-commission trading available on US stocks.

Bonus Offer
None
Comment by Reviewer
"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." "Fidelity is a great match for long-term investors who want an affordable platform to build their pension or investment portfolios. The SEC and FCA oversight are also good signs that the brokerage is regulated and trustworthy."
Pros
  • 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
  • Excellent list of stocks and funds to choose from
  • Very competitive pricing compared to largest rivals
  • Good list of account types to suit various types of investor
  • Uninvested cash is automatically put into a money market fund
  • Trusted global brand with strong regulation from SEC & FCA
  • Tax-efficient vehicles are available including ISAs
Cons
  • 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
  • No forex or CFD trading
  • There is no demo account
  • Less suitable for short-term day trading
  • Presentation of data is overly complicated
  • No trading platform for non-US clients
  • The $1000 minimum deposit for international clients is high
Awards
  • Boring Money Best Buy 2021 – Pension
  • Boring Money Best for Beginners Pension 2021
  • Boring Money Best for Beginners ISA 2021
  • Boring Money Best for Low - Cost Pension 2021
  • Online Personal Wealth Awards - Best Retirement Adviser 2021
  • Shares Awards 2020 - Best Execution-Only Stockbroker of the Year
Instruments
Stocks, Crypto, ETFs ETFs, Mutual Funds, ISAs, Pensions, Stocks, Indices
Demo Account
No No
Minimum Deposit
$0 £25
Trading Platforms
  • Own
  • Own
Payment Methods
Minimum Trade
$0 £25
Regulator
SEC, FINRA FCA, SEC
Margin Trading
Yes No
STP Account
No No
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No Yes
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes No
Mobile Apps
iOS & Android Fil Mobile App
Copy Trading
No No
Social Trading
Yes No
Trade Signals
None
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No Yes
Guaranteed Stop Loss
No No
Islamic Account
No No
Account Currencies
  • USD
  • USD
  • GBP
Stock Exchanges
Cryptocurrency
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. Crypto trading not offered
Spread
N/A
Coins
  • BTC
  • ETH
  • LTC
  • DOGE
  • ADA
  • DOT
  • ALGO
  • AAVE
  • BNT
  • BAT
  • BCH
  • LINK
  • COMP
  • ATOM
  • MANA
  • ENJ
  • ETC
  • FIL
  • MKR
  • MATIC
  • SOL
  • XLM
  • SUSHI
  • SNX
  • XTZ
  • GRT
  • UNI
  • YFI
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
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