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Sofi Invest Fees Schedule, Brokerage Account Investing & Stock Trading Commissions, & Margin Rates (2022)
Sofi Invest commissions schedule, fees, broker stock trading cost, annual and inactivity charges, online investing account pricing, and margin rates.
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Sofi Invest Pricing and Minimum Deposit
| Investments | Commissions |
|---|
| Stocks and ETFs | $0 |
| Options | not offered |
| Mutual funds | not offered |
| Investments | stocks, ETFs, cryptocurrencies |
| Minimum deposit to open account | $0 |
| Promotion |
Sofi promotions
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Sofi Invest Promotion
0% SoFi management fees. Plus, unlimited access to financial planners.
Open Sofi Account
Sofi Invest Annual Fee
Sofi Invest does not charge annual fee for regular brokerage individual, joint taxable accounts, and IRA accounts.
Sofi Invest Inactivity Fee
Sofi Invest does not charge an account inactivity fee.
Sofi Invest Maintenance Fee
Sofi Invest does not charge an annual maintenance fee on all accounts.
Broker Review
Read detailed review of Sofi Invest account »
Sofi Invest Margin Rates
Sofi Invest does not offer margin accounts right now.
Sofi Invest Mutual Funds Fees
Sofi Invest does not offer mutual funds investing at this time.
Sofi Invest Options and Bonds Trading
Sofi Invest does not offer options and bonds trading ability at this time.
Sofi Invest Fees
| Service | Fee |
|---|
| Bank Transfer (ACH) Incoming | $0 |
| Bank Transfer (ACH) Outgoing | $0 |
| Domestic Wire Transfer Out | $0 |
| International Wire Transfer Out | $0 |
| Domestic Wire Transfer In Transfer | $0 |
| International Wire In Transfer | $0 |
| ACAT Incoming | $0 |
| ACAT Outgoing | $0 |
| SEC Fee | $13.00 per $1,000,000 of principal (sells only), minimum $0.01 |
| TAF (Trading Activity Fee) | $0.00013 per share (equity sales); $6.49 max. |
Sofi Invest Stock and ETF Commissions
Trading is 100% commission-free on Sofi Invest.
Sofi Invest Account Fees
If you’re thinking about opening a brokerage account with SoFi, you need to be aware of the fees and commissions the company charges. As it turns out, there’s not much to report on.
There are three account types SoFi Invest offers: crypto accounts, self-directed accounts, and managed accounts.
Sofi Crypto Accounts
Digital currencies can be traded at SoFi in a specially-designated cryptocurrency account. Specifically, there are three coins currently available: Litecoin, Ethereum, and Bitcoin.
Trades of any one of three costs up to 1.25% of trade value. We say “up to” because that’s what SoFi says. In a trade of Bitcoin we placed, we immediately lost about 1.25% of trade value. The fee is assessed as a markup in the trade price. It doesn’t show up as a separate commission. The same will happen on the sell side. There will be a markdown in price. There will be no separate commission charged.
Sofi Self-Directed Accounts Fees
If you want to trade securities—investments like stocks, ETF’s, and closed-end funds—you’ll need to open another account. SoFi calls it Active Investing. Whatever you want to call it, this is where you will buy and sell a very limited selection of securities. There are no options, mutual funds, or bonds.
But the advantage is that there are no fees of any kind. Everything is commission-free, and there are no account fees. SoFi doesn’t even charge a fee to transfer an account to another brokerage firm. There are no inactivity fees, and the broker-dealer has no minimums of any kind.
Sofi Managed Accounts Fees
And what if you want to use the company’s automated investing service? SoFi charges nothing for its robo-advisory program, which buys and sells ETF’s. Amazingly, consulting human advisors is free; and SoFi imposes to limit on the number of times you can do that. The broker’s software is responsible for actual management of accounts; while human advisors provide financial guidance and answer questions that SoFi customers may have.
SoFi does require a $1 deposit to start its robo service.
Sofi Invest Promotion
0% SoFi management fees. Plus, unlimited access to financial planners.
Open Sofi Account
Arthur Chachuna is professional personal finance blogger, and the owner of Brokerage-Review.com.
He has been an avid investor for 23 years, and has background in both applied math and programming.
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