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Firstrade 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.
- Firstrade leads
- 2
- SoFi Invest leads
- 1
- Level
- 5
Of 8 scored facts, Firstrade leads on 2, SoFi Invest on 1, and 5 are level. Countries and the offer are not scored.
Head-to-head
The best value in each row is marked; rows where every broker matches carry no mark.| Fact |  Firstrade |  SoFi Invest |
|---|---|---|
| Fee per contract | $0 per contract | $0 per contract |
| Firstrade, Regulatory fees apply | SoFi Invest, Regulatory and clearing fees apply | |
| Exercise and assignment | Free | Free |
| Approval | Naked putsBest | Covered |
| Firstrade, 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 | No | Not published |
| Spreads in an IRA | No | Not published |
| Portfolio margin | Not published | Not published |
| Margin rate | 11.50% | 9.00%Best |
| Platforms | Web, Mobile | Web, Mobile |
| Paper trading | Not published | Not published |
| 24/7 support | YesBest | No |
| Countries | US persons, plus residents of 27 listed countries | US only (SSN or ITIN; citizens, residents, supported visas) |
| QuantWheel | Not connected | Not connected |
| 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.Firstrade$0 per contract · free exercise · naked puts
Firstrade opens options accounts for residents of the United States, the United Kingdom, Germany, Singapore, India and Mexico, among the 9 countries this directory covers. It charges $0 per contract (Regulatory fees apply). Exercise and assignment are free. It approves up to naked short puts, not naked calls. It trades on Web, Mobile. It is not connected to QuantWheel.
SoFi Invest$0 per contract · free exercise · 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 are free. 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.
- Firstrade$0.04 a trade, under 0.1% of your premium
- $3.67 a year
- SoFi Invest$0.07 a trade, under 0.1% of your premium
- $7.03 a year
$3.36 a year less at Firstrade
Not counted because Firstrade does not publish them: clearing fee, FINRA trading activity fee, platform fee, inactivity fee. Not counted because SoFi Invest does not publish them: FINRA trading activity fee.
Estimates from published fees. Your broker statement can differ, and brokers change fees. A fee a broker does not publish is never counted as $0.
Questions people ask
Firstrade vs SoFi Invest