Updated September 29, 2026 · BrokerCue Editorial Team
Kraken vs SoFi
What sets them apart
| Compare |  Kraken |  SoFi |
|---|---|---|
| Minimum deposit | $1 | $0Lower |
| Markets | Stocks, ETFs, Forex, Crypto, Futures | Stocks, ETFs, Options, Crypto |
| Regulators | Central Bank of Ireland, Cyprus Securities and Exchange Commission, Financial Conduct Authority, Financial Crimes Enforcement Network, Central Bank of Ireland (CBI) | SIPC, FDIC |
| Investor protection | EU ICS up to EUR 20,000 | SIPC up to USD 500,000 |
| Account fee | Not confirmed | $0 |
| Inactivity fee | Not confirmed | $0 |
| Deposit and withdrawal fees | Free bank deposits, card 3.75% + 0.25 | Not confirmed |
| Platforms | Kraken App, Kraken Pro, Kraken Desktop, Kraken Wallet | Not confirmed |
| Account types | Not confirmed | IRA, Roth IRA, Joint |
| Maximum retail leverage | Up to 10x | Not confirmed |
Same on both: Stock trade fee ($0).
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Key differences
- SoFi scores higher overall: 9.3 vs 9.2.
- Regulators: only Kraken offers Central Bank of Ireland, Cyprus Securities and Exchange Commission, Financial Conduct Authority.
- Regulators: only SoFi offers SIPC, FDIC.
- Kraken is licensed in 1 more country.
- Minimum deposit is lower at SoFi: $0 vs $1.
- Markets: only Kraken offers Forex, Futures.
- Markets: only SoFi offers Options.
- Features: only SoFi offers Fractional shares.
- Audience: only Kraken offers Experienced.
Our verdict on each
Kraken
Kraken suits beginners and experienced investors who want stocks, ETFs and crypto together through app and desktop access. Stock dealing is priced at $0 with entry at $1 and funding terms shown as Free bank deposits, card 3.75% + 0.25 for cost planning across small balance accounts.
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 | Kraken | SoFi |
|---|---|---|
| Cost | 9.3Stock dealing is priced at $0 with entry at $1. | 9.5HigherRanks 1 of 161 on stock trade fee, 1 of 138 on account fee, 1 of 56 on inactivity fee. |
| Offer | 9.0Coverage spans stocks, ETFs and forex accessed through Kraken App, Kraken Pro and Kraken Desktop. | 9.4Higher |
| Trust | 9.3HigherRegisters cite 1010381 and 31000270997766. | 9.2 |
Positions in our rankings
| Ranking | Kraken | SoFi |
|---|---|---|
| Stock and ETF brokers | 21 of 471 | 80 of 471 |
| Brokers for beginners | 10 of 88 | 26 of 88 |
Every fact side by side
| Fact | Kraken | SoFi |
|---|---|---|
| Features | Crypto, Mobile app | Crypto, Fractional shares, Mobile appCovers more |
| Pricing model | Commission free | Commission free |
| Audience | Beginners, ExperiencedCovers more | Beginners |
| Legal entity | Not confirmed | SOFI SECURITIES LLC |
| Headquarters | Not confirmed | United States |
| Founded | Not confirmed | 2011 |
Robo-advisors
| Fact | Kraken | SoFi |
|---|---|---|
| Portfolio types | Not confirmed | ETF, Cash, Crypto |
Where each stands against the rest
| Fact | Kraken | SoFi | Median |
|---|---|---|---|
| Minimum deposit | $1below the median | $0below the median | $25 |
| Stock trade fee | $0at the median | $0at the median | $0 |
| Account fee | Not confirmed | $0at the median | $0 |
| Inactivity fee | Not confirmed | $0at the median | $0 |
Median across 134 listed brokers.
Pros and cons
Kraken
Pros
- Stock trades priced at $0 within a model shown as commission free.
- Entry at $1, below $50 at eToro for smaller starting balances.
- Coverage spans stocks, ETFs and forex, pairing stocks and ETFs with crypto and futures.
Cons
- Support runs on help centre only, without phone or live chat help found at many rivals.
- Card funding terms run Free bank deposits, card 3.75% + 0.25, which adds cost next to bank transfer options.
- Entry at $1 sits above $0 at ActivTrades and €0 at XTB for tight budgets.
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
Kraken
Who it suits
- You want stocks plus crypto in stocks, ETFs and forex in a single login rather than an equity only account at XTB.
- You want app led dealing through Kraken App, Kraken Pro and Kraken Desktop with modest entry at $1 rather than higher entry at eToro at $50.
Who should look elsewhere
- You want phone or chat help rather than help centre only, consider XTB or ActivTrades for wider contact choice.
- You want the lowest cash entry rather than $1, consider ActivTrades at $0 or XTB at €0.
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 | Kraken | SoFi |
|---|---|---|
| United States | No | Yes |
Questions about each
Kraken
What does Kraken charge for stock trades+
Stock dealing is priced at $0 and Kraken describes its model as commission free. Bank funding is framed separately as Free bank deposits, card 3.75% + 0.25, so card use adds cost while bank transfer terms remain distinct. Check the fee schedule before placing orders.
What is the minimum deposit to open an account+
Account entry is set at $1. That level sits below $50 at eToro, yet above $0 at ActivTrades and €0 at XTB. It keeps starting balances modest while leaving room for funding charges.
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.
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