That is true and it's exactly why you DONT want to use soy protein. High estrogen and low testosterone levels will lead to an increase in body fat and decreased muscle mass. Not only that, soy is also very genetically modified. I wouldn't use a soy protein powder if it was given to me for free.
Out of all the protein choices available, the gold stand is whey protein. It has the highest bioavailability and best amino acid profile. There are two main types of whey protein available: a whey protein isolate and a whey protein concentrate. The problem with a whey protein concentrate is that it will contain a few grams of lactose (the milk sugar naturally occurring in dairy products) per serving. The majority of adult humans have a lactose sensitivity which can cause GI issues like gas, bloating and diarrhea. A whey protein isolate on the other hand is essentially pure protein and will have only trace amounts of lactose.
When purchasing a whey protein isolate you want to see nothing in the ingredients list besides whey protein isolate, natural flavours, a natural calorie free sweetener like stevia and maybe some salt, cocoa powder and soy lecithin.
I personally use the whey protein powder isolation from n2bm.com. A 30g scoop has 26g protein, 1g carbs and 0g fat.