Platform Comparison

SoFi Invest vs TD Ameritrade

Compare SoFi Invest and TD Ameritrade on fees, DRIP, fractional shares and research for dividend investing.

SF

SoFi Invest

★4.3

A modern all-in-one financial platform combining commission-free investing with banking, loans, and complimentary access to financial advisors.

Full Review
Higher Rated
TD

TD Ameritrade

★4.7

The legendary thinkorswim platform lives on under Schwab. All TD Ameritrade accounts have been migrated—new customers should open a Schwab account directly.

Full Review

SoFi Invest vs TD Ameritrade: Fees, Minimums & DRIP Compared

FeatureSoFi InvestTD Ameritrade
Our Rating4.3/54.7/5
Trading Commissions$0N/A
Account Minimum$0N/A
Fractional SharesYesN/A
DRIPFreeVia Schwab
Research ToolsBasicGood
Best ForBeginnersFormer TD Ameritrade Customers

SoFi Invest vs TD Ameritrade: Pros and Cons

SoFi Invest

Pros

  • + Commission-free trading on stocks, ETFs, and options
  • + No account minimum; fractional shares from $5
  • + Free access to certified financial advisors for 30-minute consultations
  • + Automated investing (robo-advisor) at just 0.25% annual fee
  • + Banking, investing, loans, and insurance under one roof

Cons

  • - Basic trading platform lacks advanced screeners and charting
  • - No tax-loss harvesting (unlike competitors like Betterment)
  • - Limited portfolio customization in robo-advisor
  • - No mutual funds or bonds in active investing

TD Ameritrade

Pros

  • + thinkorswim platform retained and integrated into Schwab
  • + All former TD Ameritrade accounts successfully migrated
  • + Commission-free trading continues under Schwab
  • + 400+ technical analysis tools in thinkorswim
  • + Trading simulator for practice without risk

Cons

  • - TD Ameritrade no longer accepts new accounts
  • - TD Ameritrade API permanently shut down
  • - Some interface changes during Schwab transition
  • - Former TD-only features may differ slightly

Which Is Better for Dividend Investors: SoFi Invest or TD Ameritrade?

Choose SoFi Invest if you...

  • Are in SoFi Invest's core audience: beginners

Choose TD Ameritrade if you...

  • Are in TD Ameritrade's core audience: former td ameritrade customers
  • Prefer a higher-rated overall platform

Want the full breakdown of fees, DRIP, and research tools? Read our SoFi Invest review and TD Ameritrade review.

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Investment Disclaimer

Investing involves risk, including possible loss of principal. Past performance does not guarantee future results. This content is for informational purposes only and should not be considered investment advice.