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SoFi vs Stash
Stash vs SoFi Invest—which is better in 2024? Compare investing accounts, online trading fees, stock broker extended hours, and differences.
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Overview of SoFi and Stash
Which broker can offer you the trading experience you want, Stash or SoFi Invest? Stash offers
self-directed trading with a round-up program and a stock-back service. SoFi Invest offers both
robo and self-directed accounts without any monthly fees.
Cost
Broker Fees |
Stock/ETF Commission |
Mutual Fund Commission |
Options Commission |
Maintenance Fee |
Annual IRA Fee |
Sofi Invest
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$0
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na
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$0
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$25*
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$0
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Stash
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$0
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na
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na
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$3 or $9 per month
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$3 or $9 per month
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Services
Broker Review |
Cost |
Investment Products |
Trading Tools |
Customer Service |
Research |
Overall Rating |
Sofi Invest
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Stash
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Stash Pros and Cons
Stash customers choose the broker for these advantages:
- Stock-back program from several retailers
- Round-up service with any retailer that accepts Visa
- Ability to trade less than one share of a security
But there are many disadvantages, including:
- Monthly fee on every account
- No investment-advisory option
SoFi Invest Pros and Cons
SoFi Invest is able to deliver these strengths:
- Options with no commission
- Partial shares
- Help with personal finance and education
But there are quite a few weaknesses, such as:
- Lack of stock-back and round-up services
- Limited selection of securities available for whole-dollar investing
Assets and Investment Services
In a Stash self-directed account, you can trade:
- A limited number of ETFs
- Some stocks
The real important point here is that the brokerage firm doesn’t provide trading in all ETFs and
stocks. SoFi Invest, however, does offer every U.S.-listed stock and ETF. Be aware, however, that
not every one of these is available for whole-dollar investing.
And that’s just trading. Both companies also offering a lot of other financial services, especially some that young investors may like. For example, Stash has a stock-back program that offers fractional shares of stocks for shopping at companies like Chipotle, Netflix, and 7-11.
But Stash charges a monthly fee. There are two plans:
- Growth ($3)
- Stash+ ($9)
SoFi Invest charges no monthly fees. But it doesn’t quite deliver the same level of account options. For example, Stash+ comes with a metal debit card, while SoFi customers have to accept the standard plastic variety. But SoFi Invest has robo accounts; Stash doesn’t.
Winner: SoFi Invest
Financial Education and Security Analysis
During our research, we found many educational tools (mostly in the form of articles and videos) on the SoFi site. And here, we really mean SoFi and not SoFi Invest because many of these materials extend well beyond investing. For example, we found:
- Medical School Refinance Guide
- Consolidate vs. Refi
- Draft your will for free
But of course there is information on investments. However, some of these materials are rather brief. Stock profiles, for example, don’t have much info on them.
At Stash, the situation looks much the same in the investment realm. There’s just not much data on securities. The company does send out a newsletter (one per month), but you have to subscribe to the priciest subscription plan to get it. The Stash website does have answers to FAQs, but that’s pretty much the limit.
Winner: SoFi Invest
Cash Management
All three subscription packages at Stash come with a bank account. It has a debit card, bill pay, and mobile check deposit. There are 19,000 ATMs with no fees.
SoFi also offers a bank account. It comes with a World Elite Mastercard that can be used fee-free at more than 55,000 ATMs. Like Stash, bill pay and mobile check deposit are available at no cost.
Winner: SoFi Invest
Trading Platforms
Are you looking for a robust desktop platform for your trading regimen? Do you need advanced software? You won’t find these types of tools at either firm in this tug-of-war. Both brokerage firms have simple (but user-friendly) websites with the most minimal of features.
Winner: Draw
Mobile Apps
Mobile platforms are available to both Stash and SoFi Invest customers. These tend towards the simple side, just as with computer platforms. You’ll find most of the same features and even layouts on the mobile apps.
Winner: Draw
Miscellaneous Services
Dividend Reinvestment Program: SoFi Invest and Stash both offer free dividend reinvesting for self-directed accounts. SoFi doesn’t have a DRIP service for managed accounts, however.
IRAs: Stash customers can open a Roth or Traditional IRA on the $3 per month plan. SoFi Invest customers can do the same without any fees.
Partial Shares: While this service is available at both broker-dealers, Stash has a much longer list of securities (hundreds versus just 43).
Winner: Stash
Our Recommendations
Beginners: Both firms are designed for beginning investors. Pretty even.
Long-Term Investors and Retirement Savers: We pick Stash.
Stock/ETF Trading: Neither firm is ideal for active equity trading. But with Stash’s longer list of stocks available for partial shares, we endorse it.
Small Accounts: Because of Stash’s monthly fee, the obvious choice is SoFi Invest.
Open Account
SoFi Invest:
Get $0 commission stock and ETF trades.
Webull:
Up to 40 FREE fractional shares when you make a deposit at Webull.
Stash:
Get $20 cash bonus with this referral link.
SoFi vs Stash: Results
Overall, these two look pretty even though SoFi is free. The broker is the top dog for robo-advisor, while Stash
is the only choice for earning fractional shares for purchases.
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Updated on 10/7/2024.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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