SoFi Invest makes the most sense if you're already using SoFi for banking or loans — the ecosystem benefits (higher yields, lower loan rates) compound when you consolidate. As a standalone investing app, it's solid but not best-in-class on research, charting, or coin selection. The zero-fee automated investing and IPO access are genuine standouts.
Pros
- No trading commissions on stocks, ETFs, and crypto
- Automated investing (robo-advisor) with no management fee
- 4.6%+ APY savings with SoFi Bank (direct deposit required)
- Student and personal loan refinancing in the same app
- Fractional shares starting from $5
- IPO access for retail investors
Cons
- Crypto selection limited vs. dedicated exchanges
- Automated portfolios less customizable than M1 Finance
- Research and charting tools thinner than Webull
- No IRA match or bonus contributions (vs. some competitors)
- Must use SoFi ecosystem to get the best rates and benefits
- Customer support quality inconsistent per user reviews
Full Review
Our verdict on SoFi Invest
SoFi (Social Finance) started as a student loan refinancing company and has grown into a full-service digital bank with over 7 million members. SoFi Invest is the brokerage arm — available within the main SoFi app alongside checking, savings, credit cards, personal loans, and student refinancing. The selling point is integration: manage your entire financial life in one place.
How it works
Open a SoFi account (or add Invest to an existing account), complete KYC, connect a funding source. Active investing lets you pick individual stocks, ETFs, and select crypto assets. Automated investing (SoFi's robo-advisor) builds a diversified portfolio based on your risk tolerance with no management fee. You can switch between active and automated modes within the same account.
Features & tools
Active investing covers stocks, ETFs, and approximately 30 cryptocurrencies with zero commissions. Fractional shares start at $5. The automated investing product allocates across diversified ETF portfolios based on risk profile — free of charge (most robo-advisors charge 0.25-0.5% annually). SoFi members also get access to IPO participation on select new listings at the IPO price.
- Stocks & ETFs: zero commission, fractional shares from $5
- Crypto: ~30 assets, zero commission
- Automated investing: robo-advisor, no management fee
- IPO access: pre-IPO share allocation for eligible members
- IRA accounts: traditional and Roth
- Banking integration: 4.6%+ APY savings, cash back card
Fees & promotions
No trading commissions on stocks, ETFs, or crypto. No robo-advisor management fee (0% vs. 0.25% at Betterment or Wealthfront). SoFi Bank offers 4.6%+ APY on savings with direct deposit. Promotions frequently include cash bonuses for depositing and maintaining balances, plus referral rewards. Some premium features are gated behind SoFi Plus membership.
Availability
SoFi Invest is available to US investors nationwide. IRA accounts available across all states. SIPC member ($500K securities coverage). SoFi Bank is FDIC-insured up to $250K. Crypto availability follows state regulations. Not available internationally.
Final take
SoFi Invest is the right choice for investors who want to consolidate their financial life into a single app and bank with the same institution. The zero-fee robo-advisor and IPO access are genuine differentiators. For pure investing power — research tools, charting, coin breadth — Webull or Robinhood outperform. For everything-in-one convenience, SoFi has built the most complete offering.
Payout Method
Bank transfer
Platforms
iOS, Android
Category
Stock & Investing Apps
Ready to play?
Download SoFi Invest and start competing for real cash rewards.