SoFi Invest
Wealthsimple
VS
Higher Rated
SoFi Invest
Capital at risk · T&Cs apply
Choosing between SoFi Invest and Wealthsimple depends on your trading style, preferred markets, and budget. SoFi Invest is headquartered in San Francisco, USA, while Wealthsimple operates from Toronto, Canada. SoFi Invest has the longer track record, established in 2012, compared to Wealthsimple which was founded in 2014. This in-depth comparison covers regulation, fees, platforms, markets, and overall ratings to help you decide which broker is the better fit in 2026.
SoFi Invest
Wealthsimple
SoFi Invest is the better choice overall, scoring 3.3/5 vs 3.2/5 on BrokerRank's independent rating. On fees, SoFi Invest offers lower spreads (0 pips).
See full side-by-side comparison belowOverall Rating
SoFi Invest
3.3 vs 3.2
Lowest Fees
Tied
0 vs 0 pips
Regulation
Tied
1 vs 1 licences
Min. Deposit
Wealthsimple
$1 vs $0
SoFi Invest
Wealthsimple
SoFi Invest
Wealthsimple
SoFi Invest holds licences from SEC. Wealthsimple is regulated by SEC.
Both brokers offer access to Stocks, Crypto markets. SoFi Invest additionally covers Indices.
SoFi Invest supports Proprietary Web, Proprietary Mobile. Wealthsimple offers Proprietary Web, Proprietary Mobile. Both brokers are available on Proprietary Web, Proprietary Mobile.
SoFi Invest requires a minimum deposit of $1, while Wealthsimple sets no minimum deposit. This makes Wealthsimple accessible to traders with any budget.
BrokerRank scores SoFi Invest at 3.33/5 and Wealthsimple at 3.20/5, based on 50+ data points covering regulation, fees, platforms, markets, and user experience. SoFi Invest leads overall with a clear advantage.
SoFi Invest scores higher overall on our independent rating system. SoFi Invest holds a 3.3/5 rating vs Wealthsimple's 3.2/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
SoFi Invest offers spreads from 0 pips, while Wealthsimple starts at 0 pips. Check the fees section above for a full breakdown.
SoFi Invest requires a minimum deposit of $1. Wealthsimple requires $0.
SoFi Invest is regulated by SEC, while Wealthsimple holds licences from SEC.
SoFi Invest supports Proprietary Web, Proprietary Mobile. Wealthsimple supports Proprietary Web, Proprietary Mobile.
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
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Trading involves risk. Past performance is not indicative of future results. Capital at risk. Full risk disclosure.