sofi Alternatives: Pros, Cons, And How It Stacks Up Updated for 2024
This alternatives to sofi guide has been updated for 2024 by industry experts with years of financial experience in Forex, CFDs, & Social Trading. We have worked to gather hundreds of data points about the alternatives to sofi to make sure you have as much information as possible to make an informed decision.
There are a lot of good alternatives to sofi like Startrader, freetrade, and easyMarkets. They all provide the same, if not more, features to their customers. If you feel that sofi is not quite right for you then it would be worth getting a demo account with a range of the top sofi alternatives and ensuring that they are a better fit for you before moving any money around.
The most in depth guide to sofi alternatives online
There are a lot of reasons sofi may not be a good fit for your trading needs. Whatever reason you are hunting for the best sofi alternative or sofi competitor with similar services, we will always try to give you as much useful information so you can find what it is you need. Below you can find the best sofi alternatives.
For each of the alternative to sofi, we break down the key differences to sofi and for each section show you the best competitors. For every sofi alternative online broker shown we also have detailed trading platform reviews and guides that you can easily click to view elsewhere on comparebrokers.org, all based on hundreds of datapoints collected and reviewed by experts. If you are unhappy with sofi, discover some great alternative brokersbrokers|online trading platforms|brokerages.
Using a professional and dependable trading platform is important for your trading success. All of the sofi alternative platforms listed in this sofi alternatives guide have good reputations and match what you are looking for.
Alternatives With Lower Minimum Deposit
sofi has a minimum desposit of $250, you can see how the minimum deposit requirements of sofi compare with the minimum deposits of sofi competitors. Trading platforms often have lower minimum deposits to get users to test them out, but having higher a minimum deposit requirement isn’t necessarily a bad thing, it all depends on your personal trading needs.
| Broker | Minimum Deposit | Find Out More |
|---|---|---|
|
sofi |
$250 | |
| freetrade |
$0 | |
| easyMarkets |
$100 | |
| Uphold |
$1 | |
| instaforex |
$250 |
Alternatives Offering Demo Accounts
sofi offers virtual portfolio accounts so you can learn their systems before risking any real money. Newbie traders can open a virtual portfolio account in order to better understand the areas of Forex trading and test out some of the company’s features before signing up for a live account.
Below we detail some of the best alternatives to sofi that has virtual portfolio accounts.
| Broker | Offers Demo Account? | Find Out More |
|---|---|---|
|
sofi |
Yes | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| PUPRIME |
Yes |
|
Alternatives Offering Negative Balance Protection
sofi offers negative balance protection. It's especially offered while the market volatility keeps customers from allowing their account go in the red. In such a scenario, sofi provides the ability to reset a clients account balance to zero.
You are able to go through the critical conditions on sofi's website to understand their policies.
Below we list some of the best alternatives to sofi that have negative balance protection.
| Broker | Offers Negative Balance Protection? | Find Out More |
|---|---|---|
|
sofi |
Yes | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| Uphold |
Yes |
Alternatives Offering Guaranteed Stop Loss
sofi regrettably, does not offer guaranteed stop loss. sofi gives an opportunity for its traders to close their trades in their specified price. Apart from that, sofi doesn't provide guaranteed stop loss.
Below we detail some of the top sofi alternatives that offer guaranteed stop loss available for their users.
| Broker | Offers Guaranteed Stop Loss? | Find Out More |
|---|---|---|
|
sofi |
No | |
| easyMarkets |
Yes | |
| Uphold |
Yes | |
| instaforex |
Yes | |
| FreshForex |
Yes |
Alternatives Offering Scalping
sofi do permit scalping. Several traders across the world choose sofi for their scalping services. They offer trading on MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps which allow this.
Below we show some of the best alternatives to sofi that allow scalping functionality to their customers.
| Broker | Offers Scalping? | Find Out More |
|---|---|---|
|
sofi |
Yes | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| PUPRIME |
No |
|
Alternatives That Allow Hedging
sofi do permit hedging. Several traders across the world select sofi due to their hedging services. They offer trading on MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps.
Below we detail some of the top alternatives to sofi that allow hedging services to their client base.
| Broker | Offers Hedging? | Find Out More |
|---|---|---|
|
sofi |
Yes | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| PUPRIME |
No |
|
Alternatives That Allow Social Trading
To build a strong community of traders and investors, and to encourage successful traders to share their wisdom, sofi offers social trading which encompasses leading traders sharing their knowledge with the community. What stocks they are monitoring, what to buy, what to sell. This allows intermediate traders to absorb the expert knowledge and make their own trades based off it. This is independent copy trading..
Below we detail some of the best sofi alternatives that have social trading capabilities.
| Broker | Offers Social Trading? | Find Out More |
|---|---|---|
|
sofi |
Yes | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| PUPRIME |
No |
|
Alternatives That Allow Copy Trading
To build a strong community of traders and investors, and to encourage successful traders to share their wisdom, sofi offers copy trading which gives access to leading traders sharing their knowledge with the community. Which stocks they are following, what stocks to buy, and what stocks to sell. Intermediate traders can then absorb this expert knowledge and create their own trades. It is a more independent version of social trading.
Below we show some of the top alternatives to sofi that allow copy trading to their clients
| Broker | Offers Copy Trading? | Find Out More |
|---|---|---|
|
sofi |
Yes | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| PUPRIME |
No |
|
Compare sofi To All Other Brokers