While trading at SoFi is commission-free and there are no charges for opening or transferring funds into an account, certain regulatory fees do apply. These fees are standard in the securities market and are not specific to SoFi.
- Regulatory Fee (SEC Fee): The regulatory fee, or Section 31 fee, applies to some sell transactions. It helps cover government costs for supervising the securities markets, including the work of the SEC. This fee is adjusted annually and mid-year.
- FINRA Trading Activity Fee (TAF): The TAF helps fund the regulation and supervision of brokerage firms. It's charged on the sale of covered equity securities and options.
- Option Regulatory Fee (ORF): The ORF, collected by the OCC on behalf of U.S. options exchanges, helps cover the costs of supervising and regulating the options market.
- OCC Clearing Fee: The OCC charges a clearing fee for their services in clearing and settling trades on exchanges. This fee partially covers their costs for overseeing the options markets.
Keep in mind, regulatory fees like the SEC fee and TAF are determined by regulations and are subject to change. We recommend reviewing our fee schedule for the latest information before trading.