Platform Comparison

SoFi Invest vs WellsTrade

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

Higher Rated
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
WF

WellsTrade

★3.8

WellsTrade is Wells Fargo's self-directed brokerage (not the advisor-led Wells Fargo Advisors) for existing customers who want banking and investing under one roof—basic but functional.

Full Review

SoFi Invest vs WellsTrade: Fees, Minimums & DRIP Compared

FeatureSoFi InvestWellsTrade
Our Rating4.3/53.8/5
Trading Commissions$0$0
Account Minimum$0$0
Fractional SharesYesYes (min $10)
DRIPFreeFree
Research ToolsBasicBasic
Best ForBeginnersWells Fargo Banking Customers

SoFi Invest vs WellsTrade: 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

WellsTrade

Pros

  • + Commission-free online stock and ETF trades
  • + Free dividend reinvestment with per-security selection
  • + Fractional shares through Stock Fractions program (min $10)
  • + Integration with Wells Fargo banking accounts
  • + No management fees for self-directed accounts

Cons

  • - Very basic investing platform with limited tools
  • - High margin rates (8.5%-12.5%)
  • - No pre-market trading available
  • - Limited after-hours trading (mobile only, until 6:30 PM)

Which Is Better for Dividend Investors: SoFi Invest or WellsTrade?

Choose SoFi Invest if you...

  • Are in SoFi Invest's core audience: beginners
  • Prefer a higher-rated overall platform

Choose WellsTrade if you...

  • Are in WellsTrade's core audience: wells fargo banking customers

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