SoFi Active Invest vs Fidelity (2026)
SoFi charges no commission or contract fee on options and adds a 1% IRA contribution match without a paid plan, but charges $100 to transfer out and publishes no rate on swept cash. Fidelity charges $0.65 per options contract and $0 to transfer out or close an IRA, and holds uninvested cash in a money market core position you choose. SoFi takes the match back, in part or in full, if the money leaves within 5 years.
By Wealthy Pot Editorial · Facts checked October 19, 2026
| Feature | SoFi Active Invest | Fidelity |
|---|---|---|
| Type | App-first | Full-service |
| Stock/ETF commission | $0 | $0 |
| Options per contract | $0 | $0.65/contract |
| 10-contract options trade, open + close | $0 ($0 a year at 2 a month) | $13 ($312 a year at 2 a month) |
| Rate on uninvested cash | Not published (Brokerage cash sweep (enrollment required)) | 3.48% 7-day yield if you pick SPAXX (no default named) |
| Margin rate on $10,000 | 9.75% | 12.075% |
| Transfer out (full account) | $100 | $0 |
| Paid tier | SoFi Plus: $10/mo | None |
| Account minimum | $0 ($5 to start investing) | $0 |
| Fractional shares | Yes | Yes |
| Account types | Taxable, Traditional, Roth, SEP IRA | IRA, Roth, SEP, SIMPLE, solo 401(k), HSA, 529, youth |
| Platforms | Web, iOS, Android | Web, iOS, Android, Desktop |
Options, cash and margin rows are our arithmetic from each broker's published commissions, default cash rate and margin rates (commissions only, before small regulatory and exchange fees). Rates change with the Federal Reserve's rate.
Key differences
The IRA match is where the two part ways. SoFi adds 1% to IRA contributions made by ACH or SoFi Bank transfer and to 401(k), 403(b) and 457(b) rollovers through Capitalize. Hypothetically, a $6,000 Roth contribution earns a $6,000 x 0.01 = $60 match. Move that IRA to another broker two years later and SoFi takes back the $60, charges the $100 transfer fee and may charge a $100 IRA closing fee: up to $260 in charges. Fidelity charges $0 to transfer out or close an IRA. Our 401(k) rollover guide covers where a rollover can go.
For a fund investor, purchase fees work differently. SoFi charges 0.2% of each mutual fund purchase, at most $20 a trade. Fidelity charges $0 for Fidelity funds and $49.95 per purchase on transaction-fee funds from other companies, $0 to sell. Hypothetically, $500 a month into a mutual fund costs $500 x 0.2% = $1 a purchase, $12 a year, at SoFi; at Fidelity it is $0 in a Fidelity fund or $599.40 a year in a transaction-fee fund. Fidelity says it offers over 10,000 funds through FundsNetwork. Both run robo-advisors: SoFi's charges 0.25% a year, and Fidelity Go is free under $25,000; see robo-advisors.
For a light trader, cash and account fees are the other costs to check. SoFi's cash sweep pays interest only if you enroll, and SoFi publishes no rate; its Form CRS says SoFi earns interest on uninvested cash that is not passed on to you. Fidelity lets taxable accounts pick SPAXX, FZFXX or FCASH as the core position, without naming a default. SoFi charges $25 per account for every 6 months with no login. Fidelity's one maintenance charge is up to $5 a quarter, only when a household balance is under $100, uninvested and inactive for 12 months. Fidelity says it has 215 Investor Centers.
Where SoFi Active Invest wins
- $0 options commissions and $0 per-contract fee
- Fractional shares of 4,000+ stocks and ETFs from $5
- 1% IRA contribution match without a paid plan (5-year hold)
- Investing, banking and loans in one app
- Extended hours from 8:00 AM to 8:00 PM ET
Where Fidelity wins
- $0 to transfer out, close an IRA or send a domestic wire
- Money market core positions in taxable accounts, with SPAXX at 3.48% (7-day yield, September 30, 2026)
- Fractional shares in NYSE and Nasdaq-listed stocks and ETFs from $1
- Online trading in 25 countries and 16 currencies
- Excess of SIPC coverage with a $1.9 million per-customer cash limit
Which should you choose?
Pick SoFi Active Invest if
- You already use SoFi checking, savings or loans and want investing in the same app.
- You trade options and want no commission and no broker contract fee.
- You will contribute to an IRA by bank transfer and keep it at SoFi for at least 5 years, so the 1% match stays yours.
- You want to start with small amounts: $5 in fractional shares.
Pick Fidelity if
- You hold funds or ETFs for the long run and want $0 transfer-out, IRA closing and annual IRA fees.
- You want a money market fund as the core position for idle cash rather than a bank sweep.
- You want branches: Fidelity says it has 215 Investor Centers.
- You buy foreign shares on their home exchange in a taxable account (25 countries).
SoFi Active Invest vs Fidelity: FAQ
Is SoFi cheaper than Fidelity for options?
On commissions, yes: SoFi charges no commission and no SoFi contract fee, and passes through regulatory fees of $0.02 (ORF) and $0.025 (OCC) per contract. Fidelity charges $0.65 a contract, makes buy-to-close orders at $0.65 or less free, and charges $0 for exercise and assignment. We could not confirm SoFi's exercise and assignment fees or which index options it offers. See our options platform guide.
Which pays more on cash, SoFi or Fidelity?
Fidelity publishes its rates: SPAXX had a 3.48% 7-day yield and FZFXX 3.52% on September 30, 2026, and you pick the core position. SoFi publishes no rate for its brokerage cash sweep, which you must enroll in; cash outside the sweep earns nothing for you. See money market funds for other options.
Can I move from SoFi to Fidelity for free?
Not on SoFi's side: it charges $100 for a full or partial ACATS transfer, may add a $100 IRA closing fee when the balance drops below $100, and takes back the full IRA match if you move the IRA out by ACATS within 5 years. Fidelity charges $0 to transfer out or close an IRA if you later leave. You start the transfer at the receiving broker.
Compare these against every option in our online brokers comparison.
We summarize each company's published terms and pricing, not user reviews or our own testing. Facts come from our full reviews of both brokers, each checked against the broker's own fee schedule, rate and disclosure pages on October 19, 2026 with every source listed. Some outbound links may be affiliate links. That never affects our comparisons. Nothing here is investment advice.