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E*Trade vs SoFi Invest
The same facts side by side. Swap a broker from the menu under its logo; the best value in each row is marked.
- E*Trade leads
- 4
- SoFi Invest leads
- 2
- Level
- 2
Of 8 scored facts, E*Trade leads on 4, SoFi Invest on 2, and 2 are level. Countries and the offer are not scored.
Trade & Sync with QuantWheel
Your tradingabout $6.19 a monthabout $74 a yearClearing, options regulatory, quote and inactivity fees estimated.
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Up to three brokers, with a year of your trading at each
Head-to-head
The best value in each row is marked; rows where every broker matches carry no mark.| Fact | E*Trade |  SoFi Invest |
|---|---|---|
| Fee per contract | $0.65 per contract | $0 per contractBest |
| E*Trade, $0.50 at 30+ trades per quarter | SoFi Invest, Regulatory and clearing fees apply | |
| Exercise and assignment | $0 | $0 |
| Approval | NakedBest | Covered |
| E*Trade, Up to naked short options | SoFi Invest, Covered calls and cash-secured puts | |
| 0DTE | Yes | Yes |
| Index options (SPX) | Yes | Not published |
| Options on futures | Yes | Not published |
| Spreads in an IRA | Yes | Not published |
| Portfolio margin | Yes | Not published |
| Margin rate | 11.70% | 9.00%Best |
| Platforms | Web, Desktop, Mobile, APIBest | Web, Mobile |
| Paper trading | Yes | Not published |
| 24/7 support | YesBest | No |
| Countries | Eligibility list not published; non-US citizens may apply by mailed international application | US only (SSN or ITIN; citizens, residents, supported visas) |
| QuantWheel | Trade & SyncBest | Not connected |
| E*Trade, Reads the account and places the orders you approve | ||
| Offer |
Facts from each broker's fee schedule and options agreement, checked 8 October 2026. Best marks the lowest cost or the widest allowance in a row.
The two brokers
One paragraph each.E*Trade$0.65 per contract · $0 exercise and assignment · naked
E*Trade opens options accounts for residents of the United States, among the 243 countries this directory covers. It charges $0.65 per contract ($0.50 at 30+ trades per quarter). Exercise and assignment cost $0. It approves up to naked short options. It trades on Web, Desktop, Mobile, API. QuantWheel syncs positions and trades from the account and suggests; with Trade & Sync the orders you approve go to the broker from QuantWheel.
SoFi Invest$0 per contract · $0 exercise and assignment · covered
SoFi Invest opens options accounts for residents of the United States only. It charges $0 per contract (Regulatory and clearing fees apply). Exercise and assignment cost $0. It approves up to covered calls and cash-secured puts. It trades on Web, Mobile. It is not connected to QuantWheel.
What each costs for the way you trade
A year of fees from each broker's published prices, checked 7 and 8 October 2026.
E*Trade
about $0.77 a trade, about 0.6% of your premium. Clearing, options regulatory, quote and inactivity fees estimated.
about $6.19 a monthabout $74 a year
SoFi Invest
about $0.07 a trade, under 0.1% of your premium. FINRA fee estimated.
about $0.60 a monthabout $7.16 a year
SoFi Invest does not publish every fee this strategy needs, so no broker is named lowest here.
A year from each broker's published fees. A fee a broker leaves out is estimated at the middle of what the brokers that publish it charge, and that total says about. Your broker statement can differ, and brokers change fees.
Who each suits
Written from the facts on this page. Each feature needs the broker's approval and account rules.E*Trade suits a trader who wants spreads, naked options, portfolio margin or paper trading. Its naked equity options need a minimum balance. It also offers support around the clock. SoFi Invest suits a trader who buys calls and puts or sells covered calls and cash-secured puts, the strategies its highest level, Level 2, covers. It offers phone support every day of the week. QuantWheel sends the orders you approve to E*Trade.
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Questions people ask
E*Trade vs SoFi Invest