SoFi’s mission is simple: to help reach clients like you reach their financial independence and realize their ambitions. SoFi knows that this independence comes from making decisions that help your money start to work for you in the long run. The brand helps individuals make these decisions through personal financial products such as personal loans, student loans and automated and active investing.
The brand additionally provides in-person experiences such as educational and networking events, personalized guidance from experienced financial planners and one-on-one advising with professional career coaches. SoFi’s services have been highlighted in outlets such as Forbes, Medium, and CNBC’s Make It.
- IPO Investing
- ETF and Mutual Fund Investors
- No Contract Fees
- Highly-rated mobile app for iPhone and Android
- No account fees; Transfer and Inactivity Fees are easily avoided
- More than most tradable securities included alternative asset funds
- Only available in the U.S.
- Limited selection of research and tools.
SoFi Active Invest (Brokerage) Ratings at a Glance
SoFi Active Investing
Active investing through SoFi is the 3rd option for your investing goals, through which you can actively trade on a do-it-yourself basis and learn the market your way. With active investing, you can be much more connected with other SoFi investors while you learn together from news updates and educational tools, all on the SoFi mobile app.
Start investing fractional shares of stocks and ETFs from your favorite companies with as little as $1 and enjoy the perk of $0 fees on every trade you make. Plus:
- Invest in stocks and ETFs or trade crypto, all in one app.
- Get up to $1,000 when you fund a new brokerage account, and earn up to $100 in Bitcoin with your first qualifying crypto trade (See terms).
- No commissions for stocks and ETFs.
- Complimentary access to SoFi Financial Planners.
- Purchase fractional shares of your favorite companies for as little as $5.
- Trade on margin at a competitive interest rate.
- Pre-built investment collections, so you can easily diversify your investments
- Disclosure: 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 www.adviserinfo.sec.gov.
User-Friendly Options Trading With SoFi
User-friendly options trading with SoFi may allow you to increase returns or limit risk. The platform includes:
- User-friendly design
- Educational resources
- No contract fees
- One-click access to options data
Plus, SoFi’s options trading platform helps you understand what to do when a stock’s value is rising or falling, and you can even check out their FAQs to learn more about options trading before investing your hard-earned money.
SoFi Automated Investing at a Glance
| Account minimum | $1 |
| Account management fee | $0 |
| Account Types | Individual and joint non-retirement accounts Roth IRA, traditional IRA, SEP IRA, rollover IRAs |
| Savings account/cash management account | Access to SoFi checking and savings account |
| Tax Strategy | No tax-loss harvesting |
| Automatic rebalancing | Yes |
| Socially responsible investing (SRI) portfolios | No |
| Human advisor option | Access to Certified Financial Planners |
| Customer service | "Phone and chat Monday – Friday 5 a.m. - 5 p.m. PT Saturday – Sunday Closed" |
Automated investing through SoFi is known as “hands-off investing that’s always on.” SoFi can help you set goals whether you’re saving for retirement, saving for a down payment or simply investing for later.
You can start robo investing through SoFi with as little as $1 and make one-time or recurring payments depending on what works best for your goals. Investing through SoFi also gives you access to member benefits and discounts on other SoFi products. Plus, you get:
- Auto rebalancing: No management fees with automatic rebalancing, Automatically adjusting and rebalancing your portfolio.
- Investment planning: Whether you’re saving for retirement, a down payment or just investing for later, SoFi helps you make a plan to tackle multiple goals.
- Diversification: Ensuring that your money is allocated across different kinds of financial instruments.
- SoFi financial planners: Complimentary access to certified financial planners.
Earn up to $10,000 by moving your investments to SoFi
Disclosures: For full promotion terms please visit: https://www.sofi.com/acatoffer. SoFi does not accept cryptocurrencies and has limitations on some mutual funds and OTC stocks. Brokerage and Active Investing Products offered by SoFi Securities, LLC, Member FINRA/SIPC.
If your current brokerage charges you to leave, SoFi will cover those fees up to $75
Disclosures: If you transfer a brokerage account with total asset value over $5,000 through the ACAT system, SoFi will reimburse up to $75 of ACAT fees from your outgoing brokerage firm. For full promotion terms please visit: SoFi.com/acatoffer.
Customer service is elemental for every online service or company. Customer service at SoFi is accessible through the “About” and “Contact us” tabs made available on every page of its website. The customer service page is very organized and easy to read, including phone numbers for general support, home loans support, investing support and money support.
Available office hours are included for each phone number, as well as payment addresses for check writing on loans and company contributions. Various emails included are general customer service, press, investor relations, partnerships, SoFi Money, SoFi Invest and home loans. Locations for in-person help are in San Francisco, Healdsburg and New York City. You can also tweet SoFi at its Twitter handle @SoFiSupport for short questions and concerns regarding all services.
SoFi vs. Competitors
SoFi Automated Investing is a competitive option for those looking to dip their toes into investing or who already use other SoFi services. The combination of a low minimum investment, access to human advisors, and user-friendly platform make it an attractive choice for many investors. However, for those seeking more advanced features or lower fees, exploring alternative robo-advisors may be worthwhile.
Brokerage products and services are offered by M1 Finance, LLC, Member FINRA/SIPC, and a wholly-owned subsidiary of M1 Holdings, Inc. ✝Your free trial (a $30 value) begins the date you enroll in the M1 Plus subscription, and ends 3 months after (“Free Trial”). Upon the expiry of the Free Trial, your account is automatically billed a monthly subscription fee of $10 unless you elect annual billing of $95 or cancel your subscription under your Membership details in the M1 Platform
After our assessment and analysis, SoFi’s investing services are high-quality and hard to beat. With a user-friendly, highly-rated mobile app available to iPhone and Android users featuring its 100% fee-free investing services, SoFi is an online financial platform to remember.
Frequently Asked Questions
Is SoFi a good company to invest with?
SoFi is considered a good company to invest in by many investors due to its innovative financial products and services, strong growth potential and solid track record. However, like any investment, it is important to carefully research and consider your own financial goals and risk tolerance before deciding to invest with SoFi.
How safe is SoFi automated investing?
SoFi automated investing is generally considered to be safe, as it is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). The company uses encryption and advanced security measures to protect investors’ information and assets.
Does SoFi charge fees for investing?
SoFi does not charge fees for investing in stocks, ETFs and cryptocurrency. They also offer commission-free trades, making it a cost-effective option for investors.