SoFi vs Stash


Stash vs SoFi Invest—which is better in 2024? Compare investing accounts, online trading fees, stock broker extended hours, and differences.


Overview of SoFi and Stash


Are you trying to decide between Stash and SoFi Invest for your trading needs? Stash offers self-directed trading and features like a stock-back card and a round-up savings option. SoFi Invest, on the other hand, provides both automated and self-directed trading without any monthly fees.


Cost


Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
Sofi Invest $0 na $0 $25* $0
Stash $0 na na $3 or $9 per month $3 or $9 per month


Services


Broker Review Cost Investment Products Trading Tools Customer Service Research Overall Rating
Sofi Invest
Stash


Stash Pros and Cons


Customers like Stash for its:

- Stock-back rewards from various retailers
- Round-up investments on purchases
- Ability to invest in fractional shares

However, Stash has its downsides:

- Monthly fees for all accounts
- No investment advisory services


SoFi Invest Pros and Cons


SoFi Invest is favored for:

- No commission on options trading
- Fractional shares available
- Financial planning and educational resources

But it falls short in:

- No stock-back or round-up investment options
- Limited selection of securities for dollar-based investing


Assets and Investment Services


Stash allows you to invest in:

- A select range of ETFs
- Certain stocks

It's important to note that Stash does not offer full market access like some brokers. SoFi Invest, by contrast, allows investments in all U.S.-listed stocks and ETFs, although not all are available for dollar-based investing.

Both platforms offer various financial services that might appeal especially to younger investors. For instance, Stash’s stock-back program includes companies like Chipotle and Netflix, providing fractional shares when you shop with them.

Stash's monthly plans include:

- Growth: $3
- Stash+: $9

SoFi Invest, in contrast, has no monthly fees but doesn't offer as many account perks as Stash, such as the Stash+ plan's metal debit card. However, SoFi does provide automated investing services, which Stash lacks.

Winner: SoFi Invest


Stash invest pricing plans


Financial Education and Security Analysis


SoFi offers a wide range of educational resources, including guides on refinancing medical school loans and drafting wills, along with investment-related information. However, the investment information is somewhat brief, with stock profiles lacking depth.


SoFi or Stash


At Stash, investment data is also sparse, with limited security analysis available. The monthly newsletter requires a subscription to the highest fee plan, and the website mainly offers FAQs.

Winner: SoFi Invest


Cash Management


Both Stash and SoFi offer bank accounts complete with debit cards and mobile check deposit. Stash provides access to 19,000 fee-free ATMs, while SoFi's account includes a World Elite Mastercard usable at over 55,000 ATMs without fees, along with other banking benefits.

Winner: SoFi


Trading Platforms


Looking for advanced trading software or robust desktop platforms? Unfortunately, neither SoFi Invest nor Stash offers these. Both companies provide straightforward, easy-to-use websites with very basic features.

Winner: Draw


Mobile Apps


Both Stash and SoFi Invest offer mobile apps that mirror the simplicity of their desktop versions. These apps maintain the same features and layout as their web counterparts.

Winner: Draw


SoFi or STASH


Miscellaneous Services


Dividend Reinvestment Program: Both SoFi Invest and Stash allow free dividend reinvesting in their self-directed accounts. SoFi does not provide this option for its managed accounts, though.

IRAs: Stash offers Roth or Traditional IRAs under its $3 per month plan, while SoFi Invest provides these IRAs without any monthly fees.

Partial Shares: Both brokers allow trading in fractional shares, but Stash supports this feature for a far broader range of stocks (hundreds, compared to SoFi's 43).

Winner: Stash


Our Recommendations


Beginners: Both Stash and SoFi are geared towards new investors, making them equally suitable.

Long-Term Investors and Retirement Savers: Neither firm offers mutual funds. We recommend Charles Schwab.

Stock/ETF Trading: For trading and fractional shares, Stash's extensive list gives it a slight edge over SoFi.

Small Accounts: SoFi Invest is more appealing for those looking to avoid monthly fees, making it ideal for small account holders.


Best Brokers





SoFi vs Stash: Results


Both brokers offer different advantages: SoFi is excellent for fee-free robo-advising, while Stash shines with its broader access to fractional shares. Overall, they are quite comparable, though Stash may appeal more to those looking for specific perks like stock-back rewards.


Updated on 5/24/2024.


About the Author
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.