SoFi Active Invest vs Robinhood (2026)
SoFi and Robinhood both charge $0 for stocks, ETFs and stock options, $100 to transfer out, and pay a 1% IRA contribution match that requires a 5-year hold. Robinhood starts margin at 5.25% against SoFi's 9.75% and offers overnight trading; SoFi puts investing in the same app as its bank accounts, sells mutual funds and offers SEP IRAs.
By Wealthy Pot Editorial · Facts checked October 19, 2026
| Feature | SoFi Active Invest | Robinhood |
|---|---|---|
| Type | App-first | App-first |
| Stock/ETF commission | $0 | $0 |
| Options per contract | $0 | $0 stock/ETF options; index options $0.50 ($0.35 with Gold) |
| 10-contract options trade, open + close | $0 ($0 a year at 2 a month) | $0 ($0 a year at 2 a month) |
| Rate on uninvested cash | Not published (Brokerage cash sweep (enrollment required)) | 0% APY (Uninvested cash without Robinhood Gold) |
| Margin rate on $10,000 | 9.75% | 5.25% |
| Transfer out (full account) | $100 | $100 |
| Paid tier | SoFi Plus: $10/mo | Robinhood Gold: $5/mo |
| Account minimum | $0 ($5 to start investing) | $0 |
| Fractional shares | Yes | Yes |
| Account types | Taxable, Traditional, Roth, SEP IRA | Taxable, joint, IRA, Roth, custodial, trust |
| Platforms | Web, iOS, Android | Web, iOS, Android |
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
For a margin borrower, Robinhood's published rates are lower: 5.25% up to $50,000 against SoFi's 9.75%, and SoFi needs $2,000 in the account before you can borrow. Hypothetically, a $10,000 debit balance for a year costs $10,000 x 9.75% = $975 at SoFi and $10,000 x 5.25% = $525 at Robinhood, or less with Gold, which makes the first $1,000 of margin interest-free. Trading hours differ too: SoFi runs pre-market from 8:00 AM and after-market to 8:00 PM ET, while Robinhood adds an overnight session from 8 PM to 7 AM ET in select stocks and ETFs. Robinhood also offers futures through an affiliate.
Both IRA matches have exit costs. SoFi adds 1% of IRA contributions made by ACH or SoFi Bank transfer, without a paid plan. Robinhood adds 1%, or 3% with Gold ($50 a year), and you must keep Gold a year after the first Gold match. At both, matched assets must stay 5 years. Hypothetically, $6,000 contributed to a SoFi Roth IRA earns a $60 match; moving the account two years later means losing the $60, paying the $100 transfer fee and possibly a $100 IRA closing fee. Robinhood charges the same $100 transfer fee and claws back early-removed matches through an early removal fee.
SoFi sells mutual funds at 0.2% of the purchase, capped at $20, and offers SEP IRAs and a robo-advisor at 0.25% a year; Robinhood sells no mutual funds or individual bonds and offers no SEP IRA. On cash, SoFi requires enrollment in its sweep and publishes no rate, while Robinhood pays 3.6% APY on eligible taxable cash with Gold. SoFi charges $25 per account for every 6 months without a login. Both earn payment for order flow, SoFi indirectly through Apex Clearing. In May 2024 FINRA fined SoFi Securities $1.1 million over anti-money-laundering failures; in January 2025 the SEC ordered two Robinhood firms to pay $45 million combined.
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 Robinhood wins
- No commission and no per-contract fee on stock and ETF options
- Margin from 5.25%, with the tier rate applied to the whole balance
- Overnight trading in select stocks and ETFs, 24 hours on weekdays
- IRA match of 1%, or 3% with Gold, on contributions
- Excess-SIPC policy up to $50 million per customer
- No account minimum, no maintenance fee and no inactivity fee
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 Robinhood if
- You trade stock or ETF options and want no per-contract fee on them.
- You borrow on margin and want a rate that starts at 5.25% for every customer, with or without Gold.
- You invest from a phone, in small dollar amounts, with fractional shares from $1.
- You will pay $50 a year for Gold and want the 3.6% cash rate and the 3% IRA contribution match that come with it.
SoFi Active Invest vs Robinhood: FAQ
Is SoFi or Robinhood cheaper for options?
On stock options both charge $0 commission and $0 contract fee, with regulatory fees passed through; SoFi lists $0.02 per contract to FINRA and $0.025 to the OCC. Robinhood charges $0.50 per contract on index options ($0.35 with Gold). We could not confirm from SoFi's pages which index options it offers or whether it charges for exercise and assignment. See our options platform guide.
Which pays more on cash, SoFi or Robinhood?
Robinhood publishes a rate and SoFi does not. With Gold ($5 a month or $50 a year), Robinhood pays 3.6% APY on eligible cash in self-directed taxable accounts; without Gold, and in IRAs, it pays nothing. SoFi's sweep pays interest only if you enroll, and SoFi names no rate.
Can I move from SoFi to Robinhood for free?
No. SoFi charges $100 for an outgoing ACATS transfer, full or partial, may charge a $100 IRA closing fee when the balance drops below $100, and takes back the full IRA match if you move the whole account by ACATS. Robinhood pays a 1% match on IRA transfers and 401(k) rollovers, with the same 5-year hold, and charges $100 if you leave it later.
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.