Robinhood vs SoFi

Robinhood and SoFi both charge no commission on US stocks, ETFs and options, so Robinhood vs SoFi comes down to margin costs, crypto pricing, options depth and the bonuses each is running. Robinhood is a trading app with futures, prediction markets and spreads. SoFi Invest sits inside a bank and lending app, with fewer trading tools and its own member offers. All figures are as at 12 October 2026.

The Short Version

• Commissions: $0 on US stocks, ETFs and options at both. Robinhood charges an extra contract fee on index options.
• Margin: Robinhood publishes 5.25% on balances up to $50,000. SoFi publishes 9.75% on the same tier.
• Crypto: Robinhood's default orders carry no commission. SoFi charges 1.90% to 0.90% by monthly volume.
• Options: Robinhood offers spreads at Level 3. SoFi offers Level 1 and Level 2 only.
• Offers: both are paying a 3% match on transfers from Webull, until 15 October at SoFi and 16 October at Robinhood, with five-year holding rules.
• Regulation: all three broker-dealers involved are FINRA and SIPC members.

Fees

Cost	Robinhood	SoFi
US stocks and ETFs	$0 commission	$0 commission
Stock and ETF options	$0, plus $0.04 per contract in pass-through fees	$0, plus $0.02 regulatory and $0.025 clearing per contract
Index options	$0.50 per contract ($0.35 with Gold), plus exchange fees	Not listed
Crypto trading	No commission on default routing; 0.95% to 0% on exchange routing	1.90% to 0.90% by monthly volume
Margin, up to $50,000	5.25%	9.75%
Margin, largest balances	4.20% above $50 million	5.00% above $10 million
ACATS transfer out	$100	$100
Paid membership	Gold, $5 a month	SoFi Plus, $10 a month

Robinhood's figures come from its fee page, margin rates dated 17 September 2026, transfer page and crypto fee schedule. Robinhood says default crypto orders go to market makers that pay it volume rebates, so the cost sits in the price rather than a fee. Robinhood Gold includes the first $1,000 of margin and 3.6% APY on eligible brokerage cash.

SoFi's figures come from its fee schedule, last updated 1 October 2026, its options page and its crypto fee sheet, effective 22 June 2026. The schedule also lists a $25 inactivity fee for every six months without a login and $50 on the first sale of IPO shares within 120 days. SoFi needs $2,000 in the account before you can borrow on margin.

What You Can Trade

Robinhood's homepage lists stocks, ETFs, options, futures, crypto, prediction markets and retirement accounts, from $1. Level 3 options, including credit and debit spreads, need a margin account and are not available in retirement accounts. For crypto, transfers in and out carry no Robinhood fee beyond the network fee.

SoFi Invest offers self-directed stock and ETF trading from $5, IPO access, robo portfolios from $50 and up to four self-directed accounts. Options are limited to covered calls, cash-secured puts and buying calls and puts, and can be traded in an IRA. SoFi Crypto, run by SoFi Bank, lists 25 or more coins, and its FAQ says cash for trading moves through a connected SoFi Checking and Savings account. Its fee sheet describes outbound crypto transfers as something that may come later. Neither futures nor event contracts appear on SoFi Invest's product pages. Compare more on /markets/stocks and /markets/options.

Size

TraderComps has no exchange volume data for either broker, so these are each company's own reported figures for 30 June 2026. Robinhood reported 28.4 million funded customers, $369 billion of platform assets and 4.8 million Gold subscribers. SoFi reported 15.8 million members across all its products, 3.9 million SoFi Invest products and 388,000 crypto products. The measures differ, so they are not a like-for-like count of brokerage customers.

Rewards and Campaigns

Both firms are courting Webull customers in October. Robinhood's 3% match on transfers from Webull runs to 16 October, uncapped, and its personalised transfer match pays 1%, 2% or 3% on other transfers to the same date, per its terms. A targeted welcome back bonus pays $5 to $20 until 25 October. Robinhood's IRA match is 1% of contributions, or 3% with Gold.

SoFi's Webull ACAT 3% match runs from 8 to 15 October and is capped at $150,000, per its terms. It cannot be combined with the 1% ACAT match, which ends on 13 October. New self-directed accounts funded with $50 get a stock award until 18 October: $3,000 has odds of 0.028%, and 85.49% of awards are $15. SoFi Plus members get a 1% match on eligible non-retirement deposits.

Every match above must stay in the account for five years or part of it is taken back. Read our guide to checking a campaign before you join, and see all live offers on /bonuses.

Who Can Sign Up

Every offer above is for US residents only. Robinhood's transfer match covers the 50 states and DC. SoFi's Webull match is open to residents of the US and Puerto Rico, and its stock award to adults in the 50 states, Puerto Rico and DC. SoFi's match counts only transfers into self-directed taxable accounts or traditional and Roth IRAs.

Regulation and Record

Robinhood's brokerage runs through Robinhood Financial, a FINRA member since 2013, with clearing by Robinhood Securities, both SIPC members. Futures sit with Robinhood Derivatives, a CFTC-registered futures commission merchant and NFA member. Neither futures nor crypto are SIPC protected. SoFi Securities has been a FINRA member since 2011 and is a SIPC member, while SoFi Crypto is not covered by SIPC or the FDIC.

BrokerCheck lists 56 regulatory events and 12 arbitrations for Robinhood Financial, and 2 regulatory events and 1 arbitration for SoFi Securities. These counts are not adjusted for firm size. In January 2025 two Robinhood broker-dealers agreed to pay $45 million to settle SEC charges, and in March 2025 FINRA fined them $26 million and ordered $3.75 million in restitution. In December 2023 SoFi Securities accepted a FINRA censure and $500,000 fine, with $198,282.39 in restitution, over its securities lending programme.

Which Fits Which Trader

• Options traders who use spreads need Robinhood's Level 3, as SoFi offers Level 1 and Level 2 only.
• Traders who borrow on margin pay less at Robinhood on every published tier.
• People who bank with SoFi can move cash from SoFi Checking and Savings into SoFi Crypto almost instantly, and keep banking, borrowing and investing in one app.
• Webull customers moving an account can take a 3% match at SoFi until 15 October, capped at $150,000, or at Robinhood until 16 October, uncapped. Both carry a five-year hold and a $100 fee to leave.
• Hands-off investors can use SoFi's robo portfolios from $50 for a 0.25% annual fee, or Robinhood Strategies managed portfolios.

Compare more apps on /trading-apps and /rankings/trading-apps.

This comparison is information, not financial advice. Trading carries risk, options and margin can lose more than you put in, and fees and terms change: check each broker's own pages before you trade.