Should You Buy Stocks Through SoFi Invest?
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If you're new to the world of investing -- or just want a simpler, cleaner trading experience -- then the SoFi Active Investing platform is worth a look.
SoFi Active Investing is sleek, easy to use, and low-cost, making it a great option for beginners and experienced investors alike. And with no trading commissions and access to features like fractional shares and IPO investing, SoFi® makes it easy to build a diversified portfolio on any budget.
Keep reading to learn about SoFi®'s powerful investing tools and see if the platform is right for you.
Benefits of SoFi Active Investing
Commission-free trading
SoFi Active Investing lets you buy and sell stocks, ETFs, and mutual funds with zero trading fees. Unlike many brokers, SoFi® also waives commissions on mutual fund trades -- a nice perk for cost-conscious investors.
Access to IPOs and private funds
With SoFi®, you can invest in initial public offerings (IPOs) directly through the platform -- no wealth manager or insider access needed. Just select the IPOs you'd like to participate in and submit an indication of interest (IOI), then start investing if you get approved.
Fractional shares
Don't want to spend hundreds of dollars on a full share of Amazon or Apple? No problem. SoFi® lets you invest with as little as $5 by purchasing fractional shares of your favorite companies.
Ready to start your investing journey? Open a SoFi Active Investing account today and get up to $1,000 in stock when you fund a new account.
Downsides of SoFi Active Investing
No bonds or CDs
SoFi Active Investing is one of the top brokerage platforms for beginners, but it's not perfect. For example, you won't find government bonds or certificates of deposit (CDs) on the platform. If you're looking to invest in these lower-risk options, you'll need to look elsewhere.
Limited research tools
SoFi® focuses on simplicity, and that means it lacks the deep market analysis and screeners that more experienced investors might want. If you're actively trading or doing in-depth research, another platform may suit you better.
For a hands-off approach, try SoFi Robo Investing
Want to be more hands-off with your portfolio? SoFi® also offers Robo Investing, which can build a portfolio for you after you answer a few questions about your goals, timeline, and risk tolerance. It charges a 0.25% annual management fee, in line with competitors like Wealthfront and Axos.
SoFi® also offers retirement accounts (IRAs), joint and individual accounts, and more, although it doesn't support 529 plans or 401(k)s. If you're already using SoFi® in other ways, though, investing through the same app can be a great way to streamline your finances.
SoFi Robo Investing is ideal for:
- Beginners who want a "set it and forget it" option
- Anyone already using SoFi® for banking
- Investors looking for access to smart financial planning tools
Want to get started now? Open a SoFi Robo Investing account today and start investing in minutes.
Our Research Expert
Ryan is a full-time Personal Finance Writer at Motley Fool Money. He’s been covering topics like credit cards and savings since 2022, focusing on helping people who are new to the world of personal finance.
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