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SoFi Invest review

Founded 2011HQ San Francisco, California, USAPlatforms Web, Mobile

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No integration. QuantWheel cannot read accounts at SoFi Invest, so you cannot use it with QuantWheel.

Fee per contract
$0 per contract
to open a contract
Exercise and assignment
Free
no fee per event
Approval
Covered
covered calls and cash-secured puts
Margin rate
9.00%
on a $50,000 balance
Countries
US only (SSN or ITIN; citizens, residents, supported visas)
from the broker's own pages

What you can trade

From the options agreement

  • 0DTE
  • Index options (SPX) (Not published)
  • Options on futures (Not published)
  • Spreads in an IRA (Not published)
  • Portfolio margin (Not published)
  • Paper trading (Not published)
  • 24/7 support, not offered

PlatformsWeb, Mobile

Cost to open

Per-contract fee only

One cash-secured put1 contract
$0
Ten-lot iron condor40 contracts
$0
Twenty covered calls20 contracts
$0
One turn of the wheelput assigned, call exercised, 2 contracts
$0

Exchange fees and per-order minimums are extra where the fee schedule has them.

What SoFi Invest costs for the way you trade

A year of fees from SoFi Invest's published prices, checked 7 and 8 October 2026.

How you trade
8
1
$1.20
SoFi Invest standard price$0.07 a trade, under 0.1% of your premium
$7.03 a year
Among 21 brokers open to residents of the United StatesLowest is Firstrade at $3.67 a year, plus small regulatory fees it does not publish
5th

Not counted because SoFi Invest does not publish them: FINRA trading activity fee.

Compare every broker for this pattern

QuantWheel

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No integration. QuantWheel cannot read accounts at SoFi Invest, so you cannot use it with QuantWheel.

Connect SoFi Invest

Fees explained

What each line of the fee schedule means for an options order

SoFi Invest

$0 per contract, charged on each leg. A ten-lot iron condor is 40 contracts, so $0 to open, and the same again if you close it before expiry. Exchange fees and per-order minimums are extra where the fee schedule has them.

No fee per event. An assigned put or an exercised call costs nothing beyond the per-contract fee. Cost to open

The options agreement approves covered calls and cash-secured puts in a margin account. It does not publish whether spreads are allowed in an IRA. It does not publish whether portfolio margin is offered.

Not published.

What changed at SoFi Invest

Every fee, term and policy we track, with the day it moved

No change recorded since the last check. A change to a fee or a rule appears here on the day we record it.

Questions people ask

Answered from the documents above

SoFi Invest

No; QuantWheel cannot read accounts at SoFi Invest. Connect SoFi Invest

$0 per contract, and no fee per exercise or assignment, from the fee schedule checked 8 October 2026. Exchange fees are extra. Compare fees across brokers

0DTE trading is allowed. It does not publish whether index options such as SPX are offered. The options agreement approves covered calls and cash-secured puts in a margin account. Brokers for 0DTE

US only (SSN or ITIN; citizens, residents, supported visas), according to SoFi Invest's own pages. Check with SoFi Invest before you open an account. Brokers by country

Facts from SoFi Invest's own fee schedule and options agreement, checked 8 October 2026.