Schwab vs SoFi for investors in 2026

By Nicolas StrautLast updated October 7, 20267 min read

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Key takeaways

Charles Schwab reported $13.41 trillion in total client assets at the end of August 2026, up 19% from a year earlier, and 424,000 new brokerage accounts that month.¹
When choosing between Schwab and SoFi, start with whether you trade options or want mutual funds and bonds before you compare apps.
Schwab is the stronger fit for a fund, bond, or research-driven investor, while SoFi is the stronger fit for an options trader or IRA saver who wants a 1% match and a bank in the same app.

In this article

Schwab vs SoFi at a glance
What is Charles Schwab?
What is SoFi Active Investing?
Schwab vs SoFi features compared
Schwab vs SoFi costs for three kinds of investor
Schwab vs SoFi for a Roth IRA
Should you choose Schwab or SoFi?
Price your own year before you open an account
Frequently asked questions about Schwab vs SoFi

Schwab vs SoFi comes down to range vs perks. Schwab charges no online commission on listed stocks and ETFs and offers thousands of no-transaction-fee OneSource mutual funds plus individual bonds. SoFi adds $0 options contract fees and a 1% IRA match that Schwab's IRA page does not show.² Schwab is a full-service broker with research, bonds, and a robo-advisor that charges no advisory fee, while SoFi is a bank that owns a brokerage, built for people who want investing next to checking. This guide compares Schwab and SoFi across options costs, funds and bonds, managed portfolios, and the cost of moving money.

Schwab vs SoFi at a glance

Schwab and SoFi both charge $0 for stock and ETF trades and differ on nearly everything else. Schwab's rows were read on its own pages on October 6, and SoFi's options, robo, IRA, and transfer rows were re-checked on SoFi's pages the same day. SoFi's fund-fee row dates from a September 9 read.

	Charles Schwab	SoFi Active Investing
Stock and ETF commissions	$0 online	$0
Options	$0 base plus $0.65 per contract	$0 commission and $0 per contract
Mutual funds	$0 on thousands of OneSource funds; up to $74.95 per purchase on transaction-fee funds	0.2% capped at $20 on most funds; 2% on interval funds
Individual bonds	$1 per bond ($10 minimum, $250 maximum)	Not listed
Managed portfolio	Intelligent Portfolios, $5,000 minimum, no advisory fee	Automated Investing, $50 minimum, 0.25% a year
IRA match	None shown on Schwab's IRA page	1% on contributions and rollovers through SoFi
Account minimum	$0	$0
Fee to transfer out	Not confirmed on Schwab's pages	$100, full or partial

What is Charles Schwab?

Charles Schwab is a full-service brokerage with $0 online commissions on listed stocks and ETFs and no account or trade minimums. It sells mutual funds, individual bonds, and a managed portfolio, Schwab Intelligent Portfolios, that charges no advisory fee once you have $5,000.

Schwab is built for an investor who wants funds, bonds, and research in one account, not a single-tab app. Schwab added hundreds of thousands of brokerage accounts in a single month this year. The Charles Schwab reviewcovers Schwab's platform, fees, and support in full.

What is SoFi Active Investing?

SoFi Active Investing is the self-directed brokerage inside the SoFi app, held through SoFi Securities LLC and cleared by Apex Clearing. SoFi Active Investing charges $0 commissions on stocks, ETFs, and options with no per-contract fee, and fractional shares start at $5. Crypto runs through SoFi Bank instead.

SoFi is a bank first. The brokerage sits beside checking, savings, and loans, and the app is designed to keep your money inside SoFi. This is why SoFi's fees for leaving matter as much as its sign-up offers. The SoFi Active Investing review covers every SoFi fee in detail.

Schwab vs SoFi features compared

Each comparison below opens with the broker that wins it. $0 stock trades at both brokers tell you nothing about which account is cheaper for the way you invest, trade, and eventually move your money.

Options trading costs

Options traders keep more at SoFi, which charges $0 commission and $0 per contract. Schwab charges $0 base plus $0.65 per contract on every options trade.³ The trade-off is that SoFi allows options only up to Level 2 strategies, so SoFi won't work for a multi-leg trader who needs more.

Mutual funds and bonds

Fund and bond investors get far more at Schwab, which offers thousands of OneSource funds with no transaction fee and sells individual bonds at $1 per bond. Transaction-fee funds cost up to $74.95 per purchase, and a broker-assisted trade adds $25. SoFi charges 0.2% capped at $20 on most outside funds and does not list bonds or CDs at all.

Managed portfolios

Hands-off investors with $5,000 or more pay nothing for advice at Schwab, because Intelligent Portfolios charges no advisory fee. SoFi Automated Investing starts at $50 and charges 0.25% a year, with no tax-loss harvesting. Below $5,000, only SoFi offers a managed portfolio.

Transfers and account upkeep

Moving money in costs less at SoFi, which reimburses up to $75 of your old broker's transfer fee on incoming transfers of $5,000 or more. Leaving SoFi costs $100 per outgoing transfer, full or partial.⁴Schwab's own transfer-out fee was not confirmed on its pages for this comparison, so check Schwab's pricing page before you count on a free transfer out.

Research, tools, and banking

Research and trading tools go to Schwab, whose platform is built for investors who screen funds and bonds and want more order types than a phone app offers. SoFi's advantage is banking, since checking, savings, and the brokerage share one login and cash moves between them almost instantly. That convenience is a reason to keep a bank account at SoFi, not proof that SoFi's brokerage costs less.

Schwab vs SoFi costs for three kinds of investor

The tables below price a year using only figures each company publishes. Neither account charges you to hold it.

An options trader

An options trader saves $0.65 on every contract at SoFi, and the savings grow with every contract you trade. Schwab offers nothing that offsets its per-contract fee.

Contracts per year	Schwab	SoFi
100	$65	$0
500	$325	$0
1,000	$650	$0

A mutual fund buyer

A mutual fund buyer's cost depends on which fund, not which broker. Schwab's OneSource funds are free and its transaction-fee funds are not, so the same purchase can cost nothing or the full fee at Schwab depending on the fund's label. SoFi's 0.2% fee stops at $20, so the cap helps only on larger purchases.

Single purchase of an outside fund	SoFi (0.2%, capped at $20)	Schwab OneSource fund	Schwab transaction-fee fund
$2,500	$5	$0	Up to $74.95
$10,000	$20	$0	Up to $74.95
$25,000	$20	$0	Up to $74.95

A hands-off investor

A hands-off investor pays SoFi a fee that grows with the balance, while Schwab charges no advisory fee once the balance reaches the $5,000 minimum.

Managed balance	SoFi Automated Investing (0.25%)	Schwab Intelligent Portfolios
$2,000	$5 a year	Below the $5,000 minimum
$20,000	$50 a year	$0 advisory fee
$50,000	$125 a year	$0 advisory fee

Schwab vs SoFi for a Roth IRA

A SoFi Roth IRA earns a 1% match on contributions, which must stay in the account for 5 years. Schwab's IRA page shows no contribution match. Schwab offers Traditional, Roth, Rollover, Inherited, and Custodial IRAs with $0 opening and maintenance fees, and the Schwab IRA review covers them. The SoFi IRA review covers the match rules in full. If you haven't chosen between a Roth and a traditional IRA, start with Roth vs traditional IRA.

Maxing a Roth IRA for 2026	Contribution	SoFi match per year	SoFi match over 5 years	Schwab match
Under age 50	$7,500	$75	$375	None shown
Age 50 and up	$8,600	$86	$430	None shown

The 2026 limits come from the IRS, and the five-year column holds them flat.⁵SoFi also matches 1% on workplace-plan rollovers, such as a 401(k), made through SoFi's own rollover process, so a $50,000 rollover earns $500. As of October 6, 2026, SoFi states no end date for the match, excludes SEP IRAs, and charges an early withdrawal fee equal to the full match if you transfer out within the 5-year hold.

Should you choose Schwab or SoFi?

Choosing Schwab or SoFi depends on what you hold and how often you trade options, not on the app. Both brokers charge $0 for the stock and ETF trades most people make, and they differ only on funds, bonds, options contracts, and managed portfolios. Fidelity is the usual third broker in this decision, and Schwab vs Fidelity covers that pair.

Choose Schwab if

You want mutual funds, individual bonds, or a broad research platform
You have $5,000 or more and want a managed portfolio with no advisory fee
You buy funds often enough for a free OneSource lineup to matter

Choose SoFi if

You trade options and want to pay nothing per contract
You contribute to an IRA every year and want the 1% match
You already bank with SoFi and want investing on the same screen

Price your own year before you open an account

Run the Tweed retirement calculator with and without SoFi's 1% match on your contribution, then compare the result with what Schwab's funds and bonds would save you. SoFi vs Robinhoodcovers the other app with an IRA match.

If Schwab fits, open a Schwab account. If SoFi fits, open a SoFi Invest account.

Frequently asked questions about Schwab vs SoFi

Is there an income limit for a Roth IRA at Schwab or SoFi?

Yes, there is an income limit for a Roth IRA at Schwab or SoFi, because the IRS sets it for every broker. For 2026 the contribution phases out between $153,000 and $168,000 of income for single filers and between $242,000 and $252,000 for joint filers. If your income is above that range, you can contribute directly to a traditional IRA instead.

What is the downside to SoFi?

The downside to SoFi is the cost of leaving. Moving your account out costs $100, an idle account pays $25 after 6 months of inactivity, and SoFi does not publish the rate on brokerage cash. SoFi also lists no individual bonds or CDs, so a fixed-income investor will need a second broker.

Is there anything better than SoFi?

Yes, something is better than SoFi for specific jobs. Schwab and Fidelity offer far more funds and bonds. As of October 6, 2026, Public pays a 4% IRA match with its $20-a-month Reserve plan, while Robinhood pays 3% with $5-a-month Gold. SoFi's own advantages are no options contract fee and a match that needs no subscription.

Does SoFi have a sign-up bonus?

Yes, SoFi has a sign-up bonus for new Active Investing accounts. Its official rules, as of October 6, 2026, offer up to $1,000, or $2,000 with SoFi Plus, if you fund $50 within 45 days, with no end date stated. Odds of the top prize are 0.028%, and 85.49% of people get $5.

How does Fidelity compare with Schwab and SoFi?

Fidelity compares most closely with Schwab: both charge $0 online for stocks and ETFs, add $0.65 per options contract, and offer their own low-cost funds. Fidelity adds ZERO index funds at a 0% expense ratio and charges nothing to transfer out. SoFi is the only one of the three paying an IRA match.

Is SoFi Invest safe?

Yes, SoFi Invest is safe from a broker failure. Accounts sit at SoFi Securities LLC, a FINRA member cleared by Apex Clearing, and SIPC protects up to $500,000, including $250,000 in cash, if the firm fails. SIPC covers a failed broker, not market losses. Crypto is held by SoFi Bank, outside SIPC.

Who is SoFi's biggest competitor?

SoFi's biggest investing competitor is Robinhood, judging by the comparison SoFi itself publishes, a page comparing SoFi Plus with Robinhood Gold. Both are app-first brokers with $0 commissions and an IRA match. Schwab competes on something else: the range of funds, bonds, and research it offers.

Sources

https://pressroom.aboutschwab.com/press-releases/press-release/2026/Schwab-Reports-Monthly-Activity-Highlights-7c5bb81a9/default.aspx
https://www.sofi.com/invest/ira/
https://www.schwab.com/pricing
https://support.sofi.com/hc/en-us/articles/360044740731-Is-there-a-charge-for-an-ACAT-transfer-Does-SoFi-reimburse-other-fees
https://www.irs.gov/newsroom/401k-limit-increases-to-24500-for-2026-ira-limit-increases-to-7500

Nicolas Straut

Personal finance writer, former Forbes contributor and This Week in Fintech writer. He isn't a financial advisor or a CPA.

nicstraut.com

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