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SoFi vs Fidelity for investing and your IRA in 2026

Nicolas StrautBy Nicolas StrautLast updated 7 min read
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Key takeaways

  • 41% of IRA assets, or $8.0 trillion, was invested in mutual funds at the end of Q2 2026.1
  • When choosing between SoFi and Fidelity, start with whether you will keep the account in place for five years before comparing features. SoFi's 1% match becomes yours only after five years, while Fidelity charges nothing to leave at any point.
  • SoFi is best for a saver who banks with SoFi and wants a match on contributions and rollovers, while Fidelity is best for an index fund investor or a hands-off saver with less than $25,000.
In this article

SoFi pays a 1% match on IRA contributions and rollovers, while Fidelity pays none.2 Fidelity charges nothing to leave and sells index funds with a 0% expense ratio, so the choice is a match vs flexibility. SoFi puts a commission-free brokerage inside a bank app, while Fidelity is a full-service broker with its own funds, a managed account that is free under $25,000, and no account fees. This guide compares SoFi and Fidelity across the IRA match, funds, managed accounts, and what each costs to leave.

SoFi vs Fidelity at a glance

SoFi and Fidelity are close on trading costs and differ on most other fees and features. SoFi's IRA, options, robo, and transfer terms were re-checked on SoFi's own pages on October 6, 2026. SoFi's fund-trading fees date from a September 9 read, and Fidelity's figures were read between September 30 and October 6.

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SoFiFidelity
Online stock and ETF commissions$0$0
Options$0 commission, $0 per contract$0 commission, $0.65 per contract
IRA match1% on contributions and rolloversNone
House index fundsSoFi's own ETFs and funds, 0.03% to 0.40% expense ratiosZERO funds, 0% expense ratio, no minimum
Other companies' mutual funds0.2% per trade, capped at $20; 2% on interval funds$0 on no-transaction-fee funds; $49.95 per purchase on transaction-fee funds
Managed account0.25% a year, $50 minimumFidelity Go: $0 under $25,000, 0.35% at $25,000 and up
Account fee and minimum$0$0
Fee to transfer out$100$0

What is SoFi?

SoFi Active Investing is the self-directed brokerage inside the SoFi app, the same app that holds SoFi Checking and Savings. SoFi Active Investing sells stocks, ETFs, and options with no commission and no account minimum. SoFi Automated Investing is the managed alternative, at 0.25% a year on a $50 minimum, with no tax-loss harvesting.

Tweed's SoFi Active Investing review covers every fee SoFi lists, including the ones that only show up when you leave. In short, SoFi costs nothing to join and charges a fee to leave.

What is Fidelity?

Fidelity is a full-service brokerage and fund company that charges no account fee, no minimum, and nothing to transfer an account out or close an IRA.3 Fidelity also runs Fidelity Go, a managed account with no advisory fee under $25,000.

Fidelity is the more conventional of the two, built around research, mutual funds, and fixed income rather than around a bank app. Tweed's Fidelity IRA review covers the retirement side in full.

SoFi vs Fidelity features compared

SoFi vs Fidelity features favor Fidelity on almost every cost except the IRA match. The match is the reason most readers compare the two brokers.

The IRA match

SoFi pays the match: 1% on IRA contributions and on 401(k), 403(b), and 457(b) rollovers through SoFi's own rollover process, with no cap on rollovers and a 5-year hold. Fidelity pays no IRA match. SoFi's IRA page, as of October 6, 2026, caps contribution matches at annual limits, excludes SEP IRAs, and states no end date.

Index funds

Fidelity wins for an index fund investor: its four ZERO index funds, covering the total US market, large caps, the extended market, and international stocks, charge a 0% expense ratio with no minimum.4 SoFi's own ETFs and funds run 0.03% to 0.40% a year in expenses, and buying another company's mutual fund at SoFi costs a trading fee.

Managed accounts

Fidelity Go is the cheaper managed account below $25,000, where it charges no advisory fee. Above $25,000, SoFi Automated Investing's 0.25% is lower than Fidelity Go's 0.35%, though SoFi's robo advisor has no tax-loss harvesting.Wealthfront vs SoFi compares SoFi Automated Investing with Wealthfront, which charges the same fee.

Options trading

SoFi wins for an options trader, because it charges no commission and no per-contract fee vs $0.65 per contract at Fidelity. At 100 contracts a year, the contract fee is $65 at Fidelity and nothing at SoFi. SoFi allows Level 1 and Level 2 strategies, including inside an IRA.

Bonds and Treasuries

Fidelity wins for fixed income, with $0 online Treasury trades and $1 per bond on the secondary market. SoFi does not list bonds or CDs in its brokerage as of September 2026. For a bond buyer, Fidelity is the only choice of the two.

Banking in the same app

SoFi wins for anyone who wants checking, savings, and investing behind one login, since cash moves between SoFi Checking and the brokerage almost instantly. With SoFi Plus, at $10 a month, you'll also get a 1% match on deposits into a taxable Invest account, held for five years.

SoFi vs Fidelity total cost compared

SoFi vs Fidelity total cost depends on whether you value a match you have to wait for or fees you never pay. The tables below hold today's terms flat and leave out market returns, which neither broker controls.

An IRA saver who maxes out every year

For a saver putting $7,500 into an IRA each year, SoFi pays $375 in match over five years and Fidelity pays nothing.5 If you leave SoFi after five years, the $100 transfer fee reduces SoFi's lead.

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Five years of maxing a $7,500 IRASoFiFidelity
Match earned$375$0
Fee to transfer out$100$0
Net if you stay$375$0
Net if you move after five years$275$0

A hands-off saver using a managed account

On a $20,000 managed account, Fidelity Go costs nothing and SoFi's robo costs $50 a year. Once the balance reaches $25,000, SoFi becomes the cheaper option, because Fidelity Go's 0.35% then applies to the whole account.

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Managed balanceSoFi Automated Investing, 0.25%Fidelity Go
$20,000$50 a year$0
$40,000$100 a year$140 a year
$100,000$250 a year$350 a year

A fund investor buying $10,000 of mutual funds

Buying $10,000 of Fidelity's own funds costs nothing, while the same purchase of an outside fund at SoFi costs $20 under SoFi's capped trading fee.

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$10,000 mutual fund purchaseCost
Fidelity fund at Fidelity$0
No-transaction-fee fund at Fidelity, held 60 days or more$0
No-transaction-fee fund at Fidelity, sold within 60 days$49.95
Transaction-fee fund at Fidelity$49.95
Mutual fund at SoFi$20
Interval fund at SoFi$200

SoFi vs Fidelity for a Roth IRA

SoFi and Fidelity both offer traditional and Roth IRAs, and Fidelity lets you open a Roth with no minimum and invest from $1. If you haven't decided on a Roth IRA yet, Tweed's best Roth IRA accounts list compares both brokers with four other providers.

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2026 Roth IRA ruleFigure
Contribution limit, under 50$7,500
Limit at 50 and older$8,600
Income phase-out, single$153,000 to $168,000
Income phase-out, married filing jointly$242,000 to $252,000

Leaving is where the two Roth IRAs differ most: SoFi charges $100 for a full or partial transfer out, and Fidelity charges nothing. If you move a SoFi IRA out within the 5-year hold, SoFi also charges an early withdrawal fee equal to the full match. The SoFi IRA review covers SoFi's IRA rules, including what the 5-year hold means if you move early.

Should you choose SoFi or Fidelity?

Choosing SoFi or Fidelity depends on whether a match is worth it to you when it keeps your money at SoFi for five years. The lists below describe who each broker fits.

Choose SoFi if

  • You already bank with SoFi and want investing in the same app
  • You will keep an IRA in place for at least 5 years and want the 1% match on contributions or a rollover
  • Options are part of how you invest, and a per-contract fee would add up

Choose Fidelity if

  • You want index mutual funds, including ZERO funds at a 0% expense ratio
  • You want a managed account with no fee under $25,000
  • You may move your account later

Run your retirement number before you pick a broker

Run the Tweed retirement calculator twice, once with your contribution plus SoFi's 1% match and once without. Then check whether the difference by your retirement year outweighs Fidelity's free funds and free exits. If Robinhood is also on your list, SoFi vs Robinhood compares the two IRA matches head to head.

If SoFi fits, open a SoFi Invest account.

Frequently asked questions about SoFi vs Fidelity

What is the downside to SoFi?

The main downside to SoFi is its limited tools for anything beyond buying and holding, since its charting and research are basic compared with a full-service broker's. SoFi also charges a $25 inactivity fee on any account with no login for 6 months. Logging in, not trading, resets the 6-month count.

What is the downside of Fidelity?

The downside of Fidelity is the cost of borrowing. Its margin rate on loans under $25,000 was 12.075% as of September 18, 2026. That rate is expensive for anyone who borrows a small amount. Fidelity's other costs are few, so the downsides fall mostly on borrowers and on savers who want a match.

Is there anything better than Fidelity?

Yes, other brokers beat Fidelity on specific points, if not overall. SoFi and Robinhood pay an IRA match that Fidelity does not, and Robinhood publishes a lower margin rate for small balances. For index mutual funds, a free managed account under $25,000, and free exits, Fidelity is hard to beat.

Is SoFi a good way to buy stocks?

Yes, SoFi is a good way to buy stocks if you buy and hold, since it charges no commission on stocks or ETFs and sells fractional shares from $5. Fractional positions may not transfer to another broker, though, so they may need to be sold before you move the account elsewhere.

Does SoFi or Fidelity pay more on cash?

Fidelity pays more on uninvested brokerage cash, as far as published figures go. Its core money market fund, SPAXX, showed a 3.49% seven-day yield as of October 5, 2026, while SoFi does not publish the rate on swept brokerage cash. SoFi Checking and Savings pays its own separately stated rate.

Is SoFi Invest safe?

Yes, SoFi Invest is a regulated brokerage. Accounts are held through SoFi Securities LLC, a FINRA member, cleared by Apex Clearing and covered by SIPC up to $500,000, including $250,000 for cash. SIPC protects against a broker failing, not against market losses. Crypto bought through SoFi Bank is not covered.

How does Schwab compare with SoFi and Fidelity?

Charles Schwab is closer to Fidelity than to SoFi. Schwab charges $0 online commission on stocks and ETFs and $0.65 per options contract, has no account minimum, and sells thousands of no-transaction-fee mutual funds. Schwab's IRA page showed no match when Tweed checked, so SoFi is the only one of the three that pays a match.

Sources

  1. https://www.ici.org/statistical-report/ret_26_q2
  2. https://www.sofi.com/invest/ira/
  3. https://www.fidelity.com/why-fidelity/pricing-fees
  4. https://www.fidelity.com/mutual-funds/investing-ideas/index-funds
  5. https://www.irs.gov/newsroom/401k-limit-increases-to-24500-for-2026-ira-limit-increases-to-7500
Nicolas Straut
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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