SoFi Invest® Review [2025]: Lots of Investment Options, No-Commission Trading

The barrier to entry for investing is lower today than in the past, thanks to features such as low account minimums and fractional share investing¹ <p>There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event.</p> . Other tools, such as recurring investments and rebalancing, might help make life easier. SoFi Invest® offers many of these features and tools.

This SoFi Invest® review can help you decide if the platform is a good fit for you.

What is SoFi Invest®?

SoFi® was founded in 2011 and aims to help its members get their money right. Initially, the company did this by refinancing student loan debt. In 2019, SoFi® added two new products, SoFi Money® and SoFi Invest®. In 2022, SoFi® became a bank, and it phased out its SoFi Money® product in favor of SoFi Checking and Savings account. ³ <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) <b>OR</b> $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. See full bonus and annual percentage yield (APY) terms at <a href="sofi.com/banking#1">sofi.com/banking#1</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p> <p>SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of Jan. 24, 2025. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p>  SoFi is a Member, FDIC. ⁴ <p><b>SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/terms">SoFi.com/banking/fdic/terms</a> See list of participating banks at <a href="http://sofi.com/banking/fdic/receivingbanks">SoFi.com/banking/fdic/receivingbanks</a></b></p>

Today, SoFi® boasts 3.5 million members, and the SoFi Invest® platform offers a wide variety of investment options, from traditional stocks to exchange-traded funds (ETFs) and IPO investing. You also get access to funds with exposure to commodities, real estate, foreign currencies, and venture capital.⁵ <p>Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(<a href="https://www.finra.org" style="background-color: rgb(255, 255, 255);">www.finra.org</a>) /SIPC (<a href="https://www.sipc.org" style="background-color: rgb(255, 255, 255);">www.sipc.org</a>).</p>

How does SoFi Invest® work?

SoFi Invest® works much like other investment apps and brokerage firms but puts its own spin on the process.

SoFi® focuses on offering low-cost investing by not charging commissions on active trades or management fees for its investing service. While some fees do exist, SoFi Invest® has a relatively low-cost structure overall. ETFs may come with expense ratios, which is typical, no matter which investment platform you choose.

SoFi Invest® at a glance

	SoFi Invest®
Minimum investment	$5
Investment fees	$0 stock and ETF commissions2 <p class="">Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees.<br></p> 0.25% advisory fees $50 for the first sale of stocks obtained within 120 of an IPO offering Additional fees may apply to select assets
Asset classes	Stocks ETFs Options6 <p>Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA (<a href="www.finra.org">www.finra.org</a>)/SIPC (<a href="www.sipc.org">www.sipc.org</a>).</p> Mutual funds Money market funds IPOs
Account types available	Individual taxable investment accounts Joint taxable investment accounts Traditional IRAs Roth IRAs SEP IRAs 401(k) to IRA rollover
Features	No-commission stock or ETF trades2 <p class="">Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees.<br></p> Fractional share investing1 <p>There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event.</p> IPO investing for certain SoFi Invest® members Mobile app for iOS and Android Access to Certified Financial Planners
	Visit SoFi Invest®

Investment options with SoFi®

Once you have a SoFi Invest® account, you can choose to invest in stocks and ETFs. You get to choose whether you want to pick your investments yourself, called active investing, or have SoFi®'s algorithms help build an investment portfolio and manage it for you.⁷ <p><b>INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED •&nbsp;</b><b>MAY LOSE VALUE</b></p> <p>Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(<a href="https://www.finra.org/">www.finra.org</a>)/SIPC(<a href="https://www.sipc.org/">www.sipc.org</a>).</p>

SoFi® also allows some investors to invest in initial public offerings (IPOs) of new stocks at IPO prices. To take advantage of this opportunity, which is not guaranteed, you must submit an indication of interest and follow specific rules to participate.

Additionally, you can invest in alternative assets via funds that cover a broad range of categories. This includes commodities, real estate, foreign currencies, and venture capital.⁵ <p>Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(<a href="https://www.finra.org" style="background-color: rgb(255, 255, 255);">www.finra.org</a>) /SIPC (<a href="https://www.sipc.org" style="background-color: rgb(255, 255, 255);">www.sipc.org</a>).</p>

When you purchase stocks with SoFi Invest®, you have the option to buy whole shares or fractional shares¹ <p>There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event.</p> . These bits typically start at $5 and are only available on certain stocks. This can be useful if you want to invest in a $200 share of stock but only have $10 to start investing.

If you're wondering how to withdraw money from SoFi Invest®, you may also be concerned about withdrawal fees. You can easily withdraw money from your account in the withdraw section of the SoFi Invest® app. SoFi Invest® does not list a fee for ACH transfers out of your account. Typically, ACH transfers don't come with fees, though SoFi® does mention that you could incur a $15 ACH return fee if a transfer is reversed by your bank.

Who can use SoFi Invest®?

SoFi Invest® could potentially work well for both new and experienced investors looking for a low-cost investing option. SoFi® offers solutions for people who want to choose their own investments and those who want to invest on autopilot. 

To open a SoFi Invest® account, you must be a U.S. citizen or permanent resident. While most permanent residents should qualify, some won't if they maintain citizenship in what SoFi® considers a high-risk country.

As with any investing platform, SoFi Invest® won't perfectly fit every investor's needs. Active investors may want a trading platform that offers more research, trade types, and investment options. People looking for more personalized assistance may prefer working with a human financial advisor.

Maximizing your earnings with SoFi Invest®

Maximizing earnings when investing can depend on a variety of factors, including stock market performance, your personal investing goals, and investment strategies. Some rules of thumb could potentially help you when you invest, though.

• Invest within your risk tolerance: Invest in assets where you feel comfortable with the risk level.
• Build a diversified portfolio: This means your portfolio contains several investments, usually spread across different investment types, sectors, and companies. Diversification could potentially help mitigate some losses if one of your assets performs poorly.
• Invest using tax-advantaged accounts: If you know you won't touch the money you invest until retirement, investing in a tax-advantaged account might help you save money on taxes now or in the future.
• Consider talking with an investment advisor: SoFi® offers access to Certified Financial Planners. These advisors are held to fiduciary standards, which means they're required to make recommendations that are in your best interest, and they don't earn a commission by selling SoFi® products. Financial advice could give you a new perspective on how to meet your financial goals.⁸ <p>SoFi Plus members can schedule an unlimited number of appointments with a financial planner during periods in which the SoFi Plus member meets the eligibility criteria set forth in section 10(a) of the SoFi Plus Terms and Conditions. SoFi members who are not members of SoFi Plus can schedule one (1) appointment with a financial planner. The ability to schedule appointments is subject to financial planner availability. SoFi reserves the right to change or terminate this benefit at any time with or without notice. Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at <a href="http://www.adviserinfo.sec.gov/">www.adviserinfo.sec.gov</a>.</p>  

The company also supports Roth and traditional IRAs if you're interested in saving for retirement.

How to stay safe with SoFi Invest®

Taking proper precautions with any investing platform could be essential for protecting your investments. Easy ways to do this include using unique passwords for each service you use, changing those passwords often, and using two-factor authentication.

From an investing perspective, all types of investments come with risk. You could lose any money you invest. Investing appropriately based on your risk tolerance and diversifying your portfolio could help you weather market downturns.

The good news is that SoFi® does provide some protections as a SIPC member. If SoFi® fails, SIPC coverage may protect your investments for up to $500,000. It does not protect your investments from losses related to market performance, though.

FAQ about SoFi Invest®

How to open a SoFi Invest® account

SoFi Invest® is just one of SoFi®'s many products. Even if you already have a SoFi Checking and Savings account, you may need to complete a profile or verify your information to get started with a SoFi® investing account. SoFi® also offers a self-directed IRA option, which is different from its two primary investing choices.

The process is pretty simple. SoFi® does ask for your personal information, job field, and Social Security number. This information is necessary for tax reporting and setting up your account. You'll also need to provide a way to fund the account, typically a linked bank account.

Other investment apps to consider

While SoFi Invest® offers a wide variety of features that could fit some people's needs, it won't work for everyone. If it doesn't feel like the right fit for you, take a look at our picks for the best brokerage accounts. Traditional brokerage firms, such as Fidelity and Vanguard, may also provide the account types and financial planning services you're looking for.

If you're interested in comparing the best investment apps, you may also want to consider Robinhood, Stash, Acorns, and Webull. Others may like the more hands-off approach of robo-advisors, such as Betterment and Wealthfront, offer. Ultimately, you'll need to decide which option suits your goals and needs best.

Editor's note: This author has a SoFi Money® Account.