Overview of SoFi Invest fees and charges
We know that fees are on top of people's mind when selecting a broker. Brokerage fees consist of trading and non-trading fees. The most important trading fees are commission, spread, and financing rate.
- Commission: it's charged when you execute a trade (either buy or sell). Commissions can be volume-tiered or flat fees. Nowadays, there are many commission-free brokers, click on the following links to check out the best free stockbrokers in the US and the EU.
- Financing rate/overnight costs: if you trade on leverage, you may be charged for holding your positions overnight. This cost can be expressed as a percentage or in swap points.
- Non-trading fees: these occur when you deposit and withdraw funds, or if you don't use your account for a certain period.
Now, let's dive into the details and see what commissions, spreads, and financing rates SoFi Invest charges.
SoFi Invest commission and other fees
SoFi Invest commission and other trading fees
The good news is that SoFi Invest has low trading fees in general. We ranked the fees of SoFi Invest as low, average, or high based on how they compare with all reviewed brokers.
Check out this table to get an overview of whether SoFi Invest commissions, spreads, and financing rates for each asset class are low/average/high.
| SoFi Invest | Alpaca Trading | Robinhood | |
|---|---|---|---|
| Stock and ETF | Low | Low | Low |
| Forex | - | - | - |
| Fund | - | - | - |
| Bond | - | - | - |
| Options | - | - | Low |
| Futures | - | - | - |
Now let's go over the trading fees for each asset class one by one.
SoFi Invest stock and ETF commissions, spreads
SoFi Invest stock and ETF commissions are low. SoFi Invest stock and ETF commissions are charged as per the table below.
| SoFi Invest | |
|---|---|
| US stock | $0 per trade |
You can compare SoFi Invest stock and ETF fees with the two closest competitors.
| SoFi Invest | Alpaca Trading | Robinhood | |
|---|---|---|---|
| US stock | $0.0 | $0.0 | $0.0 |
Stock and ETF commissions are calculated for a $2,000 trade
SoFi Invest commission and other fees
SoFi Invest non-trading fees
In addition to trading fees, it's important to see if SoFi Invest charges a fee on deposits, withdrawals, account maintenance, and inactivity. We compared these fees levied by SoFi Invest with its two closest competitors.
| SoFi Invest | Alpaca Trading | Robinhood | |
|---|---|---|---|
| Deposit fee | $0 | $0 | $0 |
| Withdrawal fee | $0 | $0 | $0 |
| Account fee | No | No | No |
| Inactivity fee | No | No | No |
CFD fees are calculated for a $2,000 trade using 20:1 leverage for stock index CFDs, and 5:1 leverage for stock CFDs
SoFi Invest commission and other fees
Bottom line
Hopefully, by now you have a clear picture of the commissions, spreads, financing rates, and non-trading fees charged by SoFi Invest and its closest competitors. To learn more about SoFi Invest, check out this detailed review. If you would like more information about fees in general, read this article about brokerage fees.
If you're not sure which broker to choose, get a personal recommendation from our broker recommendation algorithm or compare brokers with our broker comparison table.
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