SoFi offers new investors an attractive offer: Fund a new investment account and get a free stock worth between $5 and $1,000.
SoFi’s competitive strategy of offering free stocks as incentives to attract new users makes it easier for beginners to start investing with a small account balance. For new investors and active traders, taking advantage of opportunities to receive free stocks is always a good idea. While you might only get a stock worth $5, it's still free from an excellent brokerage firm.
SoFi has other impressive offers you can combine. If you transfer at least $5,000, you'll get a $100 bonus. Transfer more, and you could get an even bigger bonus. You can also get a bonus for referring friends.
But here, we'll focus on the Claw Game, as you only need $25 to start. SoFi also makes it fun! You'll get to play the SoFi Invest Claw Game Promotion to get your free stock. Read on to understand SoFi free stock, with detailed steps to claim your free stock this month!
What is the SoFi Invest Claw Game Promotion?
The SoFi Invest Claw Game Promotion is a promotional game within the SoFi Invest app. Like the old-school claw game of arcade fame, with the SoFi Invest app, participants use a claw to grab a “prize” representing a stock value.
After you sign up for a new SoFi Invest — Active Investing brokerage account on SoFi's app or website and fund the account with at least $25, you'll get a claw offer to choose a stock. Like the physical claw game, you can direct the claw to a certain gift, drop the claw and get a stock with a random dollar amount between $5 and $1,000.
While the stock is random, here are your chances:
- 85% chance of earning $5
- 9% chance of earning $10
- 3% chance of earning $25
- 1.5% chance of earning $100
- 0.028% chance of earning $1,000
This offer is only available to users without an active Investing brokerage account and have added at least $25 to their new account.
How to Get a Free Stock From SoFi
If you're ready to claim your free stock from SoFi, there are just a few simple steps.
1. Open a SoFi Invest Account
Start by opening a SoFi Invest account. To do this, you'll need to enter personal information, which initially consists of your name, email address and password. You must open an Active Invest account to receive the Claw Game offer. Retirement accounts such as IRAs or SoFi Automated Investing accounts aren't eligible for this promotion.
2. Fund Your Account
You must deposit at least $25 in the new account within 30 days of account opening to qualify for the Claw Game promotion. Since a transfer can take up to five business days to be credited to your account, make the transfer as soon as possible and at least a week before your 30-day limit.
You can fund the new brokerage account by bank transfer and ACH. SoFi allows you to link your bank account to your brokerage account so you can initiate the transfer directly from its website or app.
3. Play the Claw Game
You'll be notified that the claw is ready once the funds are credited to your new account. You'll have one chance to use a virtual claw to “grab” a prize. As we said, you'll probably get a $5 stock, but there's a small chance you could get a reward of up to $1,000 in stock.
According to SoFi, the stock can appear up to seven days after opening and funding your account. You have 30 days to fund your account to get the claw promotion.
How to Claim Your Free Stocks
Once you've opened and funded your account, claiming the free stock is easy. It will be automatically deposited into their account as fractional shares, including the time frame. Users can choose the stock they want for their reward.
There are no stated limitations on selling the free stock once it is credited to your account.
Managing Your Free Shares
Once the free stocks or fractional shares are in your account, you can monitor the investments and decide whether to hold or sell. You can also reinvest any dividend payments or use dividends to invest in other shares. You can also opt to sell your fractional shares.
Benefits of SoFi’s Free Stock Offer
The benefit of SoFi’s free stock is in the name — you'll get free stock, which translates to free money. SoFi's offer is a launchpad for new investors to buy securities. Whether you fund the SoFi account with $25 or $25,000, building a diversified investment portfolio is essential. By selecting a random stock or fractional share, you can benefit from increased portfolio diversification and maybe even find a new top pick.
Then, with SoFi's zero-commission investing platform, you can make your first or next trade while actively investing. You can use SoFi's tools to assess portfolio performance and learn the market with your customized approach or to follow the moves of stock brokers. Plus, get up to $1,000 in stock when you fund a new account.
If you want to combine offers, here's an overview of the cash bonus you can get by funding your account with a larger amount:
| Transfer Value | Cash Bonus |
| $5,000-$24,999.99 | $100 |
| $25,000-$99,999 | $200 |
| $100,000-$249,999 | $500 |
| $250,000-$499,999 | $750 |
| $500,000-$999,999 | $1,000 |
| $1,000,000-$4,999,999 | $2,500 |
| $5,000,000 or more | $10,000 |
Note that this transfer bonus offer is available on both taxable brokerage accounts and retirement accounts.
Why SoFi is a Top Choice for Traders
SoFi, a leading fintech company founded in 2011, has become a top choice for traders. The online brokerage has over four million members and offers financial services ranging from banking to investment accounts to student loan financing.
SoFi offers many investment options, including stocks, bonds, mutual funds, exchange-traded funds (ETFs) and options. It has long established itself as a leading online trading platform for stock market securities. It offers a user-friendly design and an intuitive approach with options for both an app and a desktop platform. You can also access educational resources on SoFi Learn.
You can also get important metrics like break-even percentage, maximum profit/loss and more with one press of a button.
SoFi offers bonuses on several account types. In addition to the claw game bonus for an active investment account, you can earn bonuses for funding the account with a larger amount or for opening and funding bank accounts with qualifying deposits.
SoFi's referral program lets you earn $50 in stock and give $25 in stock. Your friends or family must open a SoFi Invest account using your unique referral link and deposit at least $100 to get the $25 stock bonus. You can earn up to $10,000 through referral bonuses each year.
Frequently Asked Questions
How long does it take to get your free stock from SoFi?
According to SoFi, once you play the claw game, you should see the free stock credited to your account within seven days.
Does SoFi have free trading?
Yes, SoFi offers free trading and a $0 commission on every trade.
Does SoFi automatically invest for you?
SoFi does have a robo advisor that will automatically invest for you. With the robo advisor, you can build a portfolio without advisory fees.
About Alison Plaut
Alison Kimberly is a freelance content writer with a Sustainable MBA, uniquely qualified to help individuals and businesses achieve the triple bottom line of environmental, social, and financial profitability. She has been writing for various non-profit organizations for 15+ years. When not writing, you will find her promoting education and meditation in the developing world, or hiking and enjoying nature.