• CALCULATORS

Advertiser Disclosure

Our readers come first

 

Our primary goal at The Modest Wallet is to help our readers make smarter money decisions without needing a finance degree. Because personal finance education should be free and accessible to everyone.

 

As an independent publisher, transparency is at the core of what we do and how we do it, so we want you to know that we regularly partner with brands that have products and services that align with our values and will help our readers. When you click on some of the links on our site and complete a required action (i.e. sign up for a promotion, download an app, purchase an item, etc.) we may earn a small commission at no extra cost to you.

 

These partnerships may influence the products we review and write about (and where those products appear on the site), but it in no way affect our recommendation. All of our content and reviews are based on our research and honest opinion. This is regardless of the compensation. None of our partners or advertisers have editorial input or control because our relationship with our readers always comes first.

SoFi Invest vs. Stash 2021: Which Investing Platform Is Best?

SoFi Invest and Stash are two investing platforms offering similar services, but each offers unique features worth exploring.

Many or all of the products featured on this page are from our sponsors who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here is how we make money.

The information provided on this page is for educational purposes only. The Modest Wallet is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual.

Investing is all the rage these days and for good reason: Having a solid investing strategy now can help you set yourself up for future financial success.

However, it can be difficult to know which investing platform is right for you, especially if you’re trying to decide between popular options like SoFi Invest and Stash.

If you’re struggling to decide which investing platform is best for your unique financial situation, worry not, we’re here to help.

In this Sofi Invest vs. Stash head-to-head match-up, we’ll compare these two industry-leading brokerages. That way, you can decide which company is the best fit for your investing goals.

Overview SoFi Invest vs. Stash

Before we get carried away with our SoFi Invest and Stash comparison, let’s talk a bit about what makes each company unique.

SoFi Logo Stash Logo
Our Rating
4.3
4.3/5
3.8
3.8/5
In A Nutshell SoFi Invest provides a user-friendly trading environment for active and passive investors. Their Active Investing service offers $0 commission trading and $0 account minimums ($1 to start investing). Stash is a subscription-based investment platform that offers fractional shares and ETFs for investors in the United States, with zero trading fees involved. Stash offers various plans with monthly fees starting at just $1.
Our Review Full SoFi Invest Review Full Stash Review

About SoFi Invest

SoFi Invest is a relatively new brokerage that’s part of a company called Social Finance, Inc. (SoFi). The company’s investment platform started in 2019 as a way to create a user-friendly platform for trading.

SoFi Invest offers both a self-directed trading feature called active investing and a robo-advisory service that they call SoFi Automated Investing

The company’s major selling points are its low fee and simplified trading platform. This makes it a popular choice among newer and younger investors that want an easy way to kickstart their investments.

Read our full SoFi Invest review and our SoFi Automated Investing review to learn more.

What is SoFi Invest
Source: SoFi Invest

See Also: 12 Best Online Brokers

About Stash

Like SoFi Invest, Stash is fairly new in the investment industry. The platform was launched in 2015 to create a brokerage that caters to smaller investors.

Stash is a subscription-based investment platform. So, account holders pay a monthly fee for access to the company’s features, which include the ability to trade stocks and ETFs.

However, Stash also offers other money management features, including simplified banking solutions, budgeting tools, and financial education resources. Thus, it’s a nice choice for folks who want a long-term investing platform that provides a holistic approach to personal finance.

Check out our full Stash Invest review to learn more.

SoFi Invest vs. Stash: Main Features

Both Stash and SoFi Invest are investing platforms that are chock-full of features to help you manage your money. Below, we cover some of the most important features of each platform.

Stash Logo SoFi Logo
Account Minimum $0 $0 ($1 to start investing)
Fees $1 per month (Stash Beginner), $3 per month (Stash Growth) and $9 per month (Stash+) $0
Investment Types Stocks and ETFs Stocks, ETFs and Cryptocurrencies
Account Types Individual Taxable, Traditional IRA, Roth IRA, and Custodial Account Individual Taxable, Joint Taxable, Traditional IRA, Roth IRA, SEP IRA and Rollover IRA
Platforms Mobile (iOS / Android) Web-based and Mobile (iOS / Android)
Promotions Get a $5 welcome bonus None
Fractional Shares
Individual Stocks
Best For Beginner investors Low fees and new investors

SoFi Invest

With SoFi Invest, you have a few different investment options to choose from. Here’s how they compare and what they mean for your financial goals.

SoFi Active Investing

If you want a self-directed trading platform, SoFi Active Investing might be a solid choice. With Active Investing, you’re the boss when it comes to picking securities for your portfolio, but you do get free access to qualified financial advisors.

With Active Investing, you can purchase stocks, ETFs, and crypto at low fees. Additionally, SoFi lets you buy fractional shares of stocks and ETFs (called stock bits). This allows you to buy parts of certain blue-chip stocks for as little as $1. 

SoFi Automated Investing

For folks that like to take more of a passive approach, SoFi Automated Investing is a nifty robo-advisor. This service allows you to open an account, set up recurring investments, and sit back while SoFi’s robo-advisor decides on an investment strategy for your goals.

SoFi Automated Investing is an affordable robo-advisor as it only charges a 0.25% advisory fee on accounts with balances greater than $10,000. However, it lacks capabilities like tax-loss harvesting, which you can find at some other firms.

SoFi Banking Services

While this review is primarily about SoFi investing features, SoFi does also offer banking services. With your SoFi Invest account, you also have access to the company’s checking, credit card, loan, and insurance services. So, it’s a nice company to work with if you want to do all your money management in one place.

Overview of Main Features: 

  • Automated & active investing: SoFi Invest allows you to choose between self-directed and automated investing to suit.
  • Low cost, commission-free investing: With SoFi Invest, you get commission-free trades and low account fees to maximize your money.
  • Fractional shares trading: You can buy and sell fractional shares of some blue-chip stocks.
  • Banking products: The broker also offers access to banking products with all of their accounts.
  • Stock, ETF, and crypto trades: You can trade stocks, crypto, and ETFs on US markets.

Stash

Stash is a full-service money management and investing platform. These are some of its key features:

Stash Invest

Stash Invest is the company’s flagship service. With this broker, you can pick a subscription service (more on that in a bit) and start trading stocks or ETFs with just $1.

All Stash Invest accounts come with fractional shares trading so you can invest in large companies without the need for huge amounts of capital. You can also set goals and access educational tools right from your account.

Depending on your subscription level, your Stash Invest account also comes with access to financial advisors and a life insurance policy. Plus, all accounts get a Stock-Back debit card, which lets you earn free stocks as you pay for day-to-day purchases.

Stash Banking

In addition to investing tools, Stash also provides account holders with FDIC-insured checking accounts through Green Dot Bank. You can use these accounts for all your banking needs.

The benefit to using Stash Banking is that any purchases you make on your Stock-Back debit card allow you to earn free stocks as a reward. So, this can be a nice way to use your regular spending habits to grow your investments.

Overview of Main Features: 

  • Subscription-based investing: Stash account holders have access to different account features and tools based on their chosen subscription level.
  • Easy banking services: All Stash accounts come with a free checking account to help you manage your money.
  • Educational resources: Regardless of your subscription level, you get access to Stash’s educational tools and recommended portfolios. Growth and Stash+ members also get access to financial advisors.
  • Rewards on daily purchases: The Stock-Back card is a superb way to earn stock rewards on all your purchases.
  • Smart Portfolio: A new feature offered by Stash to help users build long-term wealth and diversify their investment portfolios. Stash will create and managed a fully diversified portfolio based on the user’s financial risk profile, time horizon, and goals. Stash will automatically rebalance your portfolio if the asset allocation deviates by more than 5% from the original asset mix.
What is Stash
Source: Stash

See Also: 7 Best Micro-Investing Apps

SoFi Invest vs. Stash: Investment Options

With any trading platform, you’ll have access to a selection of different investment products, such as stocks, mutual funds, and crypto. While there’s no single investment product that’s ideal for all investors, you must know your options before you commit to a platform. 

Here’s what investment options you can expect from Stash and SoFi Invest.

SoFi Invest

With SoFi Invest, you can buy and sell stocks, ETFs, and crypto. As far as stocks and ETFs go, SoFi Invest provides access to US-based exchanges during market open hours.

Cryptocurrency trading on SoFi Invest is a bit different as you can buy and sell crypto 24/7 on the platform. There’s a $10 minimum to trade crypto and the platform only supports trades for Bitcoin, Litecoin, and Ethereum.

It’s also worth noting that SoFi manages 5 of its own ETFs (TGIF, SFY, SFYX, GIGE, and SFYF). While there’s no requirement that you invest in these ETFs, they do have relatively low expense ratios, which could make them a nice choice for some investors.

Stash

Stash account holders have access to stock and ETF trades on US-based exchanges, just like SoFi Invest. 

The key difference between the two platforms, however, is that Stash doesn’t allow for cryptocurrency investing. 

If you’re not interested in crypto, this might not be a big deal. But, if you think crypto is something you’d like to add to your portfolio, then Stash’s limitation in this regard could be a concern.

SoFi Invest vs. Stash: Account Types

When you decide to trade with either Stash or SoFi Invest, you’ll first need to open an account. Each platform offers different account types, so finding one that meets your financial needs is important. 

This is what you can expect from each company:

SoFi Invest

SoFi Invest currently supports the following account types:

  • Individual and joint brokerage (taxable)
  • Traditional IRA
  • Roth IRA
  • SEP IRA
  • Rollover IRA

For a low-cost brokerage, this is a pretty decent selection of account types. As you can see, SoFi Invest offers both retirement and taxable brokerage accounts, so most investors will find something that works for them.

That being said, SoFi Invest doesn’t currently support custodial accounts, so it’s not great if you’re trying to invest for your children. 

Stash

Currently, Stash supports the following account types:

  • Individual and joint brokerage (taxable)
  • Traditional IRA
  • Roth IRA
  • Custodial

This is a fairly good selection of different account types as Stash allows folks to open both taxable accounts and individual retirement accounts. The inclusion of custodial accounts is also awesome for people who want to invest for their children.

However, it’s important to note that not all account types are available to all Stash members. Stash Beginner subscribers can only open taxable accounts while Stash Growth subscribers can only open taxable and retirement accounts. 

SoFi Invest vs. Stash: Sign Up Bonuses and Promotions

Although a sign-up bonus or promotion might not be the sole reason you open an account with a trading platform, it’s always nice to get some freebies. Here are some promotions you can expect when opening an account:

SoFi Invest

SoFi Invest does not currently offer any promotions for new accounts. But, this can change at any time, so check back regularly if you’re interested in SoFi Invest.

How to Invest with SoFi
Source: SoFi Invest

See Also: 12 Best Investment Apps: For Beginners & Pros

Stash

Stash currently offers a $5 welcome bonus to all new investors just for signing up. That means you can immediately start putting your money to good use by growing your nest egg.

SoFi Invest vs. Stash: Fees & Pricing

Investing platforms are in the business of making money, too, which is why many charge account fees. These are some of the fees you can expect to pay if you open an account:

SoFi Invest

SoFi Invest brands itself as a low-cost brokerage. Thus, it should come as no surprise that they charge relatively few fees to account holders.

SoFi Invest offers commission-free trades on stocks and ETFs. If you want to trade crypto, however, SoFi charges a 1.25% markup on all transactions.

Other than that, the only time you’ll pay a fee to use SoFi Invest is if you take advantage of their robo-advisor, which charges a 0.25% management fee on balances over $10,000. You’ll also have to pay a fee for things like wire transfers and paper statements, but that’s a common practice across the industry.

Stash

As a subscription-based platform, Stash’s pricing and fees are a bit more complicated.

Like SoFi Invest, Stash offers commission-free trades on stocks and ETFs. But, when you open an account, you’ll have to decide which subscription level you’d like to use.

Stash subscriptions vary from $1 per month for Stash Beginner to $3 for Stash Growth and $9 for Stash+. So, depending on the features you’d like to have, you can expect to pay anywhere from $12 to $108 per year to use Stash.

While they might be more expensive than SoFi Invest, Stash’s subscriptions are targeted toward folks who want a holistic money management service. Plus, in the grand scheme of things, $12 to $108 per year in account fees is quite low for the industry.

How does Stash Invest Works
Source: Stash

See Also: 12 Best IRA Accounts

SoFi Invest vs. Stash: What We Like (Pros)

Both SoFi Invest and Stash offer a superb list of benefits for account holders. These are some of the primary advantages of investing with each company:

SoFi Invest

  • Good selection of account types available
  • No commission stock and ETF trades
  • Access to SoFi’s banking services
  • Free financial advice from qualified advisors
  • Supports fractional share trading
  • Ability to open an automated portfolio
  • Offers a selection of no-expense ratio ETFs
  • Access to a limited crypto market

Stash

  • Comprehensive money management platform
  • Direct access to banking services
  • Ability to earn stocks using the Stock-Back Card
  • Access to human financial advisors for some subscribers
  • Superb educational tools
  • Fractional shares investing for stocks and ETFs
  • User-friendly interface
  • No commission fees on stocks and ETFs

SoFi Invest vs. Stash: What We Don’t Like (Cons)

As with any trading platform, there are some aspects of Stash and SoFi Invest that aren’t particularly fantastic. 

Since we believe you should understand the pros and cons of using any brokerage, here are some key drawbacks to keep in mind:

SoFi Invest

  • No custodial accounts
  • Crypto availability is limited to three currencies
  • The trading platform is somewhat simple for experienced traders
  • 0.25% markup fee on all crypto trades

Stash

  • Complex pricing structure
  • Account type availability depends on your subscription level
  • No access to crypto 
  • Trades only executed four times a day
  • No robo-advisory service
Fractional Shares at Stash
Source: Stash

See Also: How to Invest in Bonds: Diversify Your Portfolio

SoFi Invest vs. Stash: Security

If you’re going to invest your money, you need to trust that it’ll be kept safe and sound. Although it is possible to lose money while investing, both SoFi Invest and Stash have robust security features.

SoFi Invest

SoFi Invest is a member of SIPC and it is regulated by the SEC. This means that your investment assets are protected up to $500,000 ($250,000 cash) should the brokerage fail. However, SoFi is not currently publicly traded, so we know relatively little about the company’s financial health.

Nevertheless, the broker has a high-tech fraud detection system as well as other security features like two-factor authentication to protect your account.

Stash

Like SoFi Invest, Stash is a member of SIPC and it is regulated by the SEC. So, the broker has the same asset protection limits as SoFi. Additionally, Stash’s banking features are provided by Green Dot Bank with FDIC-insurance up to $250,000.

With regards to account security, Stash has a zero-liability policy against fraud as well as continuous fraud monitoring. They also use 256-bit encryption to keep your account safe.

SoFi Invest vs. Stash: Customer Support

At some point, you’ll likely need to contact your brokerage’s customer service. So, your firm must offer great support for your questions and concerns. Here’s what you need to know.

SoFi Invest

SoFi Invest account holders can call or chat online with a customer service representative during working hours (Pacific Time) from Monday to Friday. These limited hours can be a bit of a disappointment for some account holders, especially those that live in the eastern US. 

So, if having round-the-clock access to support is important to you, this is something to consider before opening a SoFi Invest account. 

Stash

Stash account holders can contact their customer support desk via phone and email from Monday to Friday during business hours (Eastern Time). The company also has an online chat feature, though this is an AI-driven chatbot rather than a live human.

As with SoFi Invest, these limited customer support hours aren’t great, especially if you also work during normal business hours. 

SoFi Invest vs. Stash: Platform and App

An online brokerage isn’t very useful if its platform and apps are difficult to use. Let’s take a quick look at how SoFi Invest and Stash interfaces compare.

SoFi Invest

SoFi Invest offers an online interface and a mobile app. Both their platforms are fairly easy to use. However, many experienced traders will find that they’re a bit too simple for their needs.

In particular, SoFi Invest’s platform only allows you to place market orders. While this might be okay for some traders, many experienced active traders will find that this isn’t enough functionality for their needs.

Invest in Crypto with SoFi
Source: SoFi Invest

See Also: How to Invest in Mutual Funds: A Step-by-Step Guide

Stash

Stash is primarily a mobile app-based platform. While this might be a disappointment to folks that prefer web-based trading, Stash’s app is fairly intuitive and easy to use.

With your Stash app, you can access and manage all of your Stash investing and banking features. You can also place stock and ETF trades on the app, however, these are only executed as market orders four times a day. 

Who Is SoFi Invest For?

SoFi Invest is a great choice for newer investors that want to start trading. Since the company offers both self-directed and automated investing features, there’s a SoFi Invest account out there for most people.

Of course, the company’s relatively basic platform isn’t awesome for more experienced investors. But, their low-cost accounts and simplified trading features make it ideal for the new investor.

In A Nutshell

  • Account Minimum: $0 ($1 to start investing)
  • Fees: Zero-commission stock and ETF trading
  • Promotion: None at the moment

on SoFi’s website

Who Is Stash For?

Stash is an ideal trading platform for people who want a comprehensive approach to money management and investing. While investing is certainly part of Stash’s mission, the company offers many additional features that can help folks become financially competent.

Although Stash’s subscription-based service might not be ideal for folks that want to eliminate fees, it’s still relatively affordable. Furthermore, while their lack of crypto trading is a bummer for some, most folks will find that Stash has everything they need to get started.

In A Nutshell

  • Account Minimum: $0
  • Fees: $1 per month (Beginner), $3 per month (Growth) and $9 per month (Stash+)
  • Promotion: Get a $5 welcome bonus

on Stash’s website

Final Thoughts

Both SoFi Invest and Stash are solid platforms for new investors. While neither platform offers the features that very experienced active traders might look for, they’re both great choices for folks that want a simplified, relatively low-cost way to start investing.

Ultimately, SoFi Invest is your go-to option if you want to learn about trading but would like a user-friendly way to get started. Alternatively, Stash is an ideal platform for people who want to manage their money and invest all in one place.

Up Next

Stock Market Playbook

Get our free Stock Market Playbook to learn how to invest your first $500 in the stock market.

Plus our best money tips delivered straight to your inbox.

Scroll to Top
by The Modest Wallet

Our best money tips, daily:

Plus, we’ll send you our Personal Finance Blueprint so you can learn everything you need to know to build wealth.

No Charge. No Spam. Unsubscribe Anytime.