SoFi Invest vs Alpaca Comparison: Fees, Features, and More (2026)

SoFi Invest and Alpaca are two leading discount brokerages offering commission-free stock and ETF trading. Use this head-to-head comparison table to evaluate fees, features, trading tools, and account options to help you decide which broker is right for you in 2026.

Head-to-Head Comparison: SoFi Invest vs Alpaca (2026)
Feature SoFi Invest Alpaca
Website https://www.sofi.com/invest/ https://alpaca.markets/
Broker Type Discount (self-directed online brokerage + robo-advisor) API-first self-clearing broker-dealer (Trading API for retail/algo; web dashboard available)
Trading: Stock & ETF? Yes Yes
ETF & Stock commission $0 commissions $0 commission (retail US stocks/ETFs); plus SEC/FINRA/CAT fees. Elite Smart Router: $0.0005–$0.004/share
Fractional Shares? Yes ($5 min on select stocks/ETFs) Yes (from $1 notional; 2,000+ US equities)
Percent Allocations? No Yes, via API
Crypto Trading? Yes. SoFi Crypto offers 28 cryptocurrencies (as of May 2026); requires SoFi Checking & Savings. Yes (most US states via API/dashboard; 24/7)
Crypto Fees Tiered 1.90%/1.50%/1.25%/0.90% of trade value by monthly volume (<$1k/$1-5k/$5-10k/$10k+); possible ≤0.10% spread. Maker/taker 0.15%/0.25% (under $100k 30d vol) to 0%/0.10% ($100M+); on received asset
Options Trading? Yes. Options trading available (long calls/puts, covered calls, cash-secured puts; 0DTE and IRAs). Yes (Levels 1-3 equity/ETF; index options live)
Options Fee $0 commissions and $0 contract fees. Regulatory fees apply (e.g., ORF $0.02, OCC $0.025 per contract). $0 commission retail equity/ETF options; index $0.50/contract + ORF/OCC/exchange pass-throughs
Bond Trading Available? No. Individual bonds not offered; exposure via bond ETFs and mutual funds only. No (Broker API partners only; not Trading API/dashboard retail)
Receives payment for order flow (PFOF)? Yes. Receives payment-for-order-flow revenue share via Apex Clearing. Yes (receives PFOF rebates)
Interface: Web trading? Yes. Full trading on SoFi mobile app (iOS/Android) and sofi.com website. Yes web dashboard; no official mobile app (third-party/TradingView yes)
Desktop trading? No No
API Trading? No Yes (Alpaca Trading API)
Mutual Funds: Offered? Yes No
Total Mutual Funds 6,800+ None
NTF Mutual Funds 6,800 None
Non-NTF Fund Fee 0.2% of purchase (max $20); 2% for interval/tender funds N/A
Early Redemption Fee? Yes (no SoFi short-term fee) N/A
Redemption Hold (Days) Fund-specific (CDSC varies by fund); no SoFi-imposed hold. N/A
Early Redemption Fee Fund-specific CDSC (varies); SoFi charges none (purchase tx fee 0.2% max $20). N/A
Accounts: Margin Accounts? Yes (Self-Directed; apply, $2,000 min). Yes; all accounts opened as margin (limited margin if equity under $2,000).
IRAs Offered? Yes: Traditional, Roth, and SEP IRAs. Yes; Traditional and Roth IRAs for US tax residents (Trading API). SEP-IRA in agreements.
HSAs Offered? No No
Money Market Sweep? Yes (optional FDIC bank sweep via Apex). Yes; opt-in FDIC Bank Sweep/High-Yield Cash for uninvested cash (variable APY, up to $1M FDIC).
CDs Offered? No No
Robo-Advisor: Offered Yes No
Robo-Advisor Service SoFi Automated Investing (Robo Investing) N/A
Robo-Advisor Fees 0.25% annual wrap/advisory fee plus fund expenses; $50 min. N/A
Basics: Headquarters San Francisco, CA San Mateo, CA
Year Founded 2011 2015
Clearing Firm Apex Clearing Corporation Self-clearing (Alpaca Clearing)
Local Branches? No No
New Account Minimum $0 $0

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