F
Firstrade
3.4 / 5Score: 3 / 3
Zero minimum deposit and dual tier-1 regulation make Firstrade the accessible, trustworthy choice for cost-conscious investors.
- Min deposit
- $0
- Max leverage
- 1:2
- Spread from
- 0 pips
- Regulators
- SEC, CFTC
Reviewed by Experts Updated 9/13/2026
Firstrade vs SoFi Invest: Which Broker Wins in 2026?
Firstrade and SoFi Invest both offer commission-free trading, but our proprietary research gives Firstrade the edge overall. With stronger regulatory backing and a lower barrier to entry, Firstrade is the more well-rounded platform for most investors in 2026.
SI
SoFi Invest
3.3 / 5Score: 0 / 3
SoFi Invest bundles stocks, crypto, and indices into one accessible app for investors who want it all in one place.
- Min deposit
- $1
- Max leverage
- 1:1
- Spread from
- 0 pips
- Regulators
- SEC
Our #1 Pick Right Now: AvaTrade
Same category, top-tier regulation, and it's currently accepting new traders.
See What Makes It Different Overall Winner
Firstrade
Best for Beginners
Firstrade
Lowest Fees
Firstrade
Top Regulation
Firstrade
Side-by-side comparison
Core features compared head-to-head.
| Feature | F Firstrade | SI SoFi Invest |
|---|---|---|
| Overview | ||
| Rating | 3.4 / 5 | 3.3 / 5 |
| Founded | 1985 | 2012 |
| Headquarters | New York, USA | San Francisco, USA |
| Regulation | SEC, CFTC | SEC |
| Fees & Limits | ||
| Min Deposit | $0 | $1 |
| Spreads From | 0 pips | 0 pips |
| Commission | None | None |
| Max Leverage | 1:2 | 1:1 |
| Platforms & Markets | ||
| Trading Platforms | Proprietary Web, Proprietary Mobile | Proprietary Web, Proprietary Mobile |
| Markets Offered | Stocks, Indices | Stocks, Crypto, Indices |
Trading & non-trading fees
Min Deposit
Firstrade
$0
SoFi Invest
$1
Spreads From
Firstrade
0 pips
SoFi Invest
0 pips
Commission
Firstrade
None
SoFi Invest
None
Deposit Fees
Firstrade
None
SoFi Invest
None
Withdrawal Fees
Firstrade
None
SoFi Invest
None
Pros & cons
F
Firstrade
Pros
- Higher overall rating of 3.4/5 on our independent scale
- No minimum deposit barrier for new account holders
- Slightly higher maximum leverage of up to 1:2
- Backed by two tier-1 regulatory licences for added safety
- Zero commission trading with competitive 0 pip spreads
- No hidden deposit or withdrawal fees
- Long-established broker with roots dating back to 1985
Cons
- Limited to stocks and indices, with no crypto market access
- Leverage remains low compared to dedicated forex brokers
- Proprietary-only platform lacks third-party options like MetaTrader
- Market range is narrower than some multi-asset competitors
SI
SoFi Invest
Pros
- Wider market selection covering three asset classes
- Commission-free trading with competitive 0 pip spreads
- Very low $1 minimum deposit for new accounts
- No deposit or withdrawal fees charged
- Modern proprietary platform built for digital-first investors
Cons
- Lower overall rating of 3.3/5 on our independent scale
- Regulated by only a single tier-1 body (SEC)
- Maximum leverage capped at 1:1, meaning no leverage flexibility
- Slightly higher minimum deposit than Firstrade's $0 requirement
- Fewer regulatory licences than its closest competitor
Our expert verdict
Editor's verdict
Overall winner Firstrade
Lowest fees Firstrade
Best regulation Firstrade
Better for beginners Firstrade
Firstrade edges out SoFi Invest as the stronger all-round broker, earning a 3.4/5 rating on our scale compared to SoFi Invest's 3.3/5. Firstrade wins on regulatory strength with SEC and CFTC oversight, requires no minimum deposit, and offers slightly higher leverage. SoFi Invest still holds appeal for investors wanting broader market access, including crypto, under a single roof.
Regulation & Safety
Firstrade is regulated by both the SEC and CFTC, giving it two tier-1 regulatory licences compared to SoFi Invest's single SEC registration.
This matters for investors who prioritize layered oversight, as additional regulatory bodies typically mean more checks on capital handling and business conduct.
SoFi Invest is still a legitimate, SEC-regulated broker suitable for US-based investors, but it simply carries one fewer layer of regulatory redundancy than Firstrade.
For traders who rank safety as their top priority, Firstrade's broader regulatory footprint gives it a clear advantage in our assessment.
Account Costs & Minimum Deposit
Firstrade requires no minimum deposit at all, making it exceptionally accessible for first-time investors or those testing the platform with small amounts of capital.
SoFi Invest asks for a nominal $1 minimum deposit, which is still very low by industry standards but technically places it a notch behind Firstrade in pure accessibility.
Neither broker charges deposit or withdrawal fees, and both operate on a commission-free trading model for standard transactions.
The near-identical cost structures mean the minimum deposit difference, while small, is the deciding factor for beginners starting with minimal funds.
Fees & Spreads
Both Firstrade and SoFi Invest advertise spreads starting from 0 pips, putting them on level footing when it comes to headline trading costs.
Commission is listed as none for both brokers, reinforcing that day-to-day trading costs are unlikely to be the deciding factor between the two.
Where Firstrade separates itself is in the surrounding cost structure, particularly its zero minimum deposit requirement, which reduces the effective barrier to getting started.
Investors focused purely on spread and commission costs will find little practical difference, but Firstrade's overall value proposition remains marginally stronger.
Trading Platforms & Market Access
Both brokers rely on proprietary web and mobile platforms rather than third-party solutions like MetaTrader, giving each a controlled, in-house trading experience.
SoFi Invest supports a wider range of markets, including stocks, crypto, and indices, whereas Firstrade focuses on stocks and indices only.
This makes SoFi Invest the more appealing option for investors who want cryptocurrency exposure alongside traditional equities in a single account.
However, traders whose focus is purely equities and index products will find Firstrade's platform more than sufficient for their needs.
Leverage & Trading Conditions
Firstrade offers maximum leverage of 1:2, edging out SoFi Invest's 1:1 offering, which effectively means no leverage is extended on SoFi Invest accounts.
While neither leverage figure is significant compared to forex-focused brokers, Firstrade's slight edge could matter to investors seeking any degree of buying power flexibility.
Both brokers keep leverage conservative, which aligns with their positioning as long-term investing platforms rather than aggressive trading venues.
Risk-conscious investors will appreciate that neither broker pushes clients toward high-leverage products by default.
Our Verdict
Firstrade wins the overall comparison, scoring 3.4/5 against SoFi Invest's 3.3/5 on our independent rating system.
It takes top honors in our awards for Best Overall, Best for Beginners, Best for Low Fees, and Best for Regulation.
SoFi Invest remains a solid alternative for investors specifically wanting broader market diversity, including crypto access, within one account.
For the majority of traders prioritizing safety, low cost of entry, and overall platform reliability, Firstrade is our recommended pick.
Verdict summary
The bottom line — category winners and our final pick based on ratings.
Editor's verdict
Firstrade wins overall
Firstrade edges out SoFi Invest overall based on our expert rating score.
F
Highest Rated
Firstrade
3.4 / 5 / 5
Category winners
Overall winner
Based on overall expert rating (3.4/5).
FirstradeBetter for beginners
Stronger onboarding and educational resources.
FirstradeLower trading costs
More competitive spreads and baseline commissions.
FirstradeStronger regulation
Higher trust based on tier-1 regulatory oversight.
Firstrade
Frequently asked questions
Based on our independent rating system, Firstrade scores 3.4 out of 5 while SoFi Invest scores 3.3 out of 5. Firstrade edges ahead due to stronger regulatory coverage and a lower entry barrier, though SoFi Invest remains a solid choice for investors wanting broader market access.
Both brokers offer spreads starting from 0 pips and charge no commission on standard trades. The fee structures are essentially matched, so the deciding factor between the two comes down to other features like regulation and minimum deposit.
Firstrade requires no minimum deposit at all, making it the more accessible option for new investors. SoFi Invest requires a small $1 minimum deposit, which is still low but slightly higher than Firstrade's zero-dollar threshold.
Firstrade holds licences from both the SEC and CFTC, giving it two tier-1 regulatory bodies overseeing its operations. SoFi Invest is regulated solely by the SEC, meaning Firstrade offers an additional layer of regulatory protection.
SoFi Invest supports crypto trading alongside stocks and indices, giving it a broader market range. Firstrade currently focuses on stocks and indices only, so crypto-focused investors may lean toward SoFi Invest.
Both brokers offer proprietary web and mobile platforms rather than third-party software like MetaTrader. This means the trading experience on each is fully controlled and designed in-house by the respective broker.
Yes, there is nothing stopping investors from opening accounts with both brokers simultaneously. Many traders diversify across multiple platforms to take advantage of different market access and platform features.
Firstrade offers maximum leverage of up to 1:2, while SoFi Invest caps its offering at 1:1, effectively providing no leverage. Neither figure is significant compared to dedicated forex brokers, but Firstrade holds a slight edge.
Firstrade takes our award for Best for Beginners thanks to its zero minimum deposit and straightforward proprietary platform. SoFi Invest is also beginner-friendly with its $1 minimum deposit, but Firstrade's lower barrier gives it the edge for first-time investors.
Risk warning: Trading CFDs and forex involves significant risk of loss and is not suitable for all investors. Please consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.