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What to look out for: There are only five portfolio options available for passive investors, ranging from conservative to aggressive. SoFi Money (Member FDIC), a checking/savings account hybrid with a competitive interest rate, a debit card, and unlimited ATM fee reimbursements, can store money you're not ready to invest yet.įees: $0 for automated investing and stock and ETF trades 1.25% markup on crypto transactions.Īccount types: Individual and joint brokerage Traditional, Roth, SEP IRAs (includes rollovers) SoFi offers several different cryptocurrencies, including bitcoin, ethereum, litecoin, and others. You can also invest in cryptocurrency, but SoFi charges a markup of 1.25% on those transactions. Keep in mind that you'll still have to pay fees to the funds you're invested in within your portfolio.Īctive traders don't pay transaction fees when buying and selling fractional shares, stocks, or ETFs. You won't have to bother rebalancing your portfolio since SoFi will do it for you at least once a quarter, but if your goals or overall financial situation changes, you can adjust your portfolio and even set up an appointment with a SoFi financial planner at no extra cost. Once you decide which portfolio is appropriate, you can get started investing with as little as $1. Why it stands out: You won't be charged any advisory fees, stock or ETF trade fees, or subscription fees to invest with SoFi.įor those with a set-it-and-forget-it attitude, SoFi's automated investing platform will recommend a portfolio made up of ETFs, based on your risk tolerance. Consider it if: You want an easy-to-use platform paired with rock-bottom pricing.Promotion: Get up to $100 in bitcoin when you make your first trade.Learn more about E*Trade » Best fee-free investment app: SoFi Invest Investors should also note that Morgan Stanley acquired E*TRADE on October 2, 2020. What to look out for: While you're able to open an account and choose a Core Portfolio with $0 down, you'll need to fund the account with at least $500 to get started investing. For the high net worth investor: 0.65% to 0.90% annual AUM fee for a Blend Portfolio (minimum balance of $25,000) 0.35% to 0.45% annual AUM fee for a Fixed Income Portfolio (minimum balance of $250,000)Īccount types: Individual, joint, and custodial brokerage accounts traditional, Roth, custodial, SEP and inherited IRAs (includes rollovers).For the passive investor: 0.30% annual AUM fee for a Core Portfolio (minimum balance of $500).For the active trader: $0 stock, ETF, and options trading.Through E*TRADE's two mobile apps, you can access your accounts, make trades, view charts and research, and watch Bloomberg TV. In addition to a more customized portfolio, these plans include one-on-one advising with a financial consultant. If you're investing $25,000 or more, E*TRADE's Blend, Dedicated, and Fixed Income Portfolios are worth considering. To start investing, you'll need at least $500. You can further customize your portfolio as "socially responsible," which shifts your allocation to include an ETF with companies that have progressive social, environmental, and corporate practices, or "smart beta," which favors growth stocks in an attempt to outperform the market. After you fill out a risk profile to share your goals, time horizon, and risk tolerance, you'll get a recommended tax-sensitive portfolio of ETFs. If you're not interested in self-directed investments, E*TRADE's Core Portfolios are a great option. In 2019, E*TRADE eliminated all stock and ETF trading fees and offers over 4,400 no-load, no transaction-fee mutual funds. Whether you're a seasoned investor or a beginner, you'll find what you're looking for. Why it stands out: E*TRADE is a one-stop-shop for investing. Promotion: Get up to $3,500 when you open and fund a new brokerage or retirement account by J(Promo code: BONUS22).