Updated September 28, 2026 · BrokerCue Editorial Team
BMO InvestorLine vs SoFi
Where BMO InvestorLine and SoFi differ
| Compare |  BMO InvestorLine |  SoFi |
|---|---|---|
| Stock trade fee | CA$0 | $0 |
| Account fee | CA$0 | $0 |
| Inactivity fee | CA$0 | $0 |
| Markets | Stocks, ETFs, Options, Bonds, Funds | Stocks, ETFs, Options, Crypto |
| Minimum deposit | Not confirmed | $0 |
| Regulators | Not confirmed | SIPC, FDIC |
| Investor protection | Not confirmed | SIPC up to USD 500,000 |
| Currency conversion fee | 0.4% to 1.6% | Not confirmed |
| Margin rate | 8.75% | Not confirmed |
| Options contract fee | CA$0.90 | Not confirmed |
| Deposit and withdrawal fees | $0 EFT, $10 wire | Not confirmed |
| Account types | Not confirmed | IRA, Roth IRA, Joint |
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Key differences
- BMO InvestorLine scores higher overall: 9.4 vs 9.3.
- Founded is lower at BMO InvestorLine: 1988 vs 2011.
- Markets: only BMO InvestorLine offers Bonds, Funds.
- Markets: only SoFi offers Crypto.
- Features: only BMO InvestorLine offers Options.
- Features: only SoFi offers Crypto, Fractional shares.
Our verdict on each
BMO InvestorLine
BMO InvestorLine suits Canadian investors who want a bank-backed broker without account or inactivity charges, trading stocks and ETFs commission free. What sets it apart is the pairing of a CAD 0 stock trade fee with a CAD 0 account fee, though currency conversion and options add cost.
SoFi
SoFi suits retirement savers in the US, with a stock trade fee of $0, an account fee of $0 and a minimum deposit of $0. The named licences are US registrations, so readers outside the US should check the account types and terms first.
Score breakdown
| Area | BMO InvestorLine | SoFi |
|---|---|---|
| Cost | 9.2Commission-free stock and ETF trades, no account fee and no inactivity fee, with options and margin priced separately at CAD 0.90 and 8.75%. | 9.5HigherRanks 1 of 161 on stock trade fee, 1 of 138 on account fee, 1 of 56 on inactivity fee. |
| Offer | 9.2 | 9.4Higher |
| Trust | 9.6Higher | 9.2 |
Pick BMO InvestorLine if, pick SoFi if
Pick BMO InvestorLine if trust matter most.
Pick SoFi if cost matter most.
Feature by feature
| Markets | BMO InvestorLine | SoFi |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | Yes | Yes |
| Crypto | No | Yes |
| Bonds | Yes | No |
| Funds | Yes | No |
How they place
| Ranking | BMO InvestorLine | SoFi |
|---|---|---|
| Stock and ETF brokers | 43 of 490 | 71 of 490 |
| Options trading platforms | 13 of 103 | 24 of 103 |
| Low-fee brokers | 6 of 11 | 8 of 11 |
Sources behind this comparison
BMO InvestorLine
- finder.com: 5 facts, checked September 26, 2026
- newsroom.bmo.com: 3 facts, checked September 26, 2026
- hellosafe.ca: 2 facts, checked September 26, 2026
- stockwatch.com: 1 fact, checked September 26, 2026
- wowa.ca: 1 fact, checked September 26, 2026
SoFi
- en.wikipedia.org: 5 facts, checked September 26, 2026
- sofi.com: 5 facts, checked September 26, 2026
- sipc.org: 3 facts, checked September 26, 2026
- banks.data.fdic.gov: 1 fact, checked September 26, 2026
Every fact side by side
| Fact | BMO InvestorLine | SoFi |
|---|---|---|
| Features | Mobile app, Options | Crypto, Fractional shares, Mobile app |
| Pricing model | Commission free | Commission free |
| Audience | Not confirmed | Beginners |
| Legal entity | Not confirmed | SOFI SECURITIES LLC |
| Headquarters | Not confirmed | United States |
| Founded | 1988Lower | 2011 |
| Support channels | Phone, Chat | Not confirmed |
Robo-advisors
| Fact | BMO InvestorLine | SoFi |
|---|---|---|
| Portfolio types | Not confirmed | ETF, Cash, Crypto |
Where each stands against the rest
| Fact | BMO InvestorLine | SoFi | Median |
|---|---|---|---|
| Minimum deposit | Not confirmed | $0below the median | $10 |
| Currency conversion fee | 0.4% to 1.6%at the median | Not confirmed | 0.4 |
| Margin rate | 8.75%below the median | Not confirmed | 8.79% |
| Options contract fee | CA$0.90at the median | Not confirmed | CA$0.90 |
Median across 99 listed brokers.
Pros and cons
BMO InvestorLine
Pros
- Stock and ETF trades cost CAD 0 and the account fee is CAD 0, so holding a portfolio costs nothing.
- The inactivity fee is CAD 0, so an untouched account is not charged.
- Support runs on phone and chat, giving a phone line and live chat.
Cons
- Margin borrowing is priced at 8.75%, so a leveraged position carries a borrowing cost.
- Options contracts carry a fee of CAD 0.90 each.
- Currency conversion is the hidden cost, at 0.4% to 1.6%, and deposits and withdrawals run $0 EFT, $10 wire.
SoFi
Pros
- A stock trade costs $0 on a commission free model, so cost does not decide which shares you can hold.
- The account fee is $0 and the inactivity fee is $0, so extra accounts and balances left untouched are not billed.
- The minimum deposit is $0 where Vantage asks $5, so a small amount can start an account.
Cons
- The account types listed are ira, roth ira and joint, retirement and joint accounts, and a general taxable account is not among them.
- Markets stop at stocks, etfs and options, while eToro lists stocks, etfs and forex, so forex, CFDs and futures are out of reach here.
- The group sits in US and its registrations are SIPC member 68389 and FDIC cert 26881, with no UK or EU regulator named.
Who each suits
BMO InvestorLine
Who it suits
- Investors who want a long term stock, ETF, bond and fund portfolio without a standing account charge.
- Traders who mainly trade Canadian equities and want phone and chat support for questions.
- Anyone already inside a bank relationship who values a long operating history.
Who should look elsewhere
- Day traders who live in currencies other than the Canadian dollar and would feel the 0.4% to 1.6% on every conversion.
- Options buyers who place frequent contracts and would pay CAD 0.90 each time.
- Leveraged traders, because margin costs 8.75%.
SoFi
Who it suits
- Beginners, which the audience fact lists as beginners, who want to start small with a $0 minimum deposit.
- Retirement savers who want an IRA, a Roth IRA or a joint account at $0 in account fees.
- Fractional share buyers who want crypto and equities in the same app, as the feature list crypto, fractional shares and mobile app shows.
Who should look elsewhere
- Traders after forex, CFDs or futures, since eToro lists stocks, etfs and forex and SoFi lists stocks, etfs and options.
- Investors who want a broader spread of instruments than shares, ETFs, options and crypto, since CFI lists stocks, etfs and forex.
- Readers who need a UK or EU regulated provider, because the licences named are SIPC member 68389 and FDIC cert 26881.
Country by country
| Country | BMO InvestorLine | SoFi |
|---|---|---|
| United States | No | Yes |
Questions about each
BMO InvestorLine
How much does it cost to open and hold a BMO InvestorLine account?+
The account fee is CAD 0 and the inactivity fee is CAD 0, so there is no standing or dormant charge on the account. Stock and ETF trades themselves cost CAD 0. The costs that do appear are on currency conversion, options and margin.
What does it cost to trade a stock or an ETF?+
Stock and ETF trades are commission free, priced at CAD 0. The platform is listed as a commission-free model. Costs appear elsewhere: currency conversion at 0.4% to 1.6%, options at CAD 0.90 per contract, and margin at 8.75%.
SoFi
What does it cost to open and hold a SoFi account?+
The published minimum deposit is $0, the account fee is $0 and the inactivity fee is $0, so opening and holding an account adds no charge on the listed terms. Those are account level figures, which is the first thing to check before you choose a wrapper or leave a balance untouched.
What does a stock trade cost?+
A stock trade costs $0 and the pricing model is commission free, so commission does not decide which shares you can hold. Other brands on the site charge a stock trade fee as high as €17.54, and the account fee of $0 and inactivity fee of $0 add nothing on top.