Review
Updated
Fact Checked
Ashley Maready
SoFi Invest offers promotions to users who move investments to its platform. Below are its current promotions, including how much you could earn.
Brokerage Transfer Bonus: Earn $100 to $10,000 by transferring assets into SoFi Invest accounts
Open Account for SoFi Active Investing
On SoFi Active Investing's Secure Website.
Ratings Methodology
2024 Award Winner
2024 Award Winner
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
![]()
![]()
![]()
![]()
![]()
= Best
![]()
![]()
![]()
![]()
= Excellent
![]()
![]()
![]()
= Good
![]()
![]()
= Fair
![]()
= Poor
= Best
= Excellent
= Good
= Fair = PoorBottom Line
Fees:
$0 for stocks, $0 for options contracts
Account Minimum:
$0
Special Offer
For new accounts: Customer must fund their Active Invest account with at least $10 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%.
Get up to $1,000 in stock when you fund a new Active Invest account.
Open Account for SoFi Active Investing
On SoFi Active Investing's Secure Website.
How you earn it: Transfer at least $5,000 from another brokerage firm into a SoFi Invest taxable brokerage or retirement account.
How you qualify: If SoFi Invest offers the security you're transferring, it's eligible for cash bonuses. However, you must leave your transferred assets on SoFi Invest for at least two years.
Details: The more you transfer, the bigger your cash bonus. Here's the breakdown:
| Transfer Amount | 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 |
Data source: SoFi.
A typical outgoing transfer fee can cost anywhere from $75 to $100, depending on your original broker. That can eat into returns. SoFi Invest helps with this: If you transfer at least $5,000 of assets, it will cover up to $75 of outgoing ACAT transfer fees.
Offer expires: TBD
Sign-up Bonus: Earn $5 to $1,000 of stock by signing up for a SoFi Active Investing brokerage account
How you earn it: Open a SoFi Active Investing brokerage account.
How you qualify: Only first-time SoFi Active Investing users are eligible. You must also fund the account with at least $25 within 30 days of opening a brokerage account.
Details: The stock amount you earn is random. You have an approximately 85% chance of earning $5, a 9% chance of earning $10, a 3% chance of earning $25, a 1.5% chance of earning $100, and a 0.028% chance of earning $1,000. In a nutshell, the vast majority of users will earn $5. SoFi offers many brokerage account types, but only SoFi Active Investing accounts are eligible for this promotion. SoFi doesn't give this bonus if you open a retirement or SoFi Automated Investing account.
One more thing: Though you have 30 days from opening to deposit $25, it takes up to five business days for funds to settle. To make sure you get your bonus, deposit money into your account at least a week before the 30-day deadline.
Offer expires: N/A
Referral Bonus: Earn $50 in stock by referring a friend to SoFi Invest
How you earn it: Refer friends to SoFi Invest. You can find your referral link through your SoFi Invest account; in the app, navigate to "Refer a Friend" to find your link. Once your friend opens a SoFi Invest account and funds it with at least $10, you'll earn your $50 bonus, and your friend will earn a $25 bonus.
How you qualify: You are eligible if you have a SoFi Invest account.
Details: SoFi Invest is unique because you must have a personal relationship with referrals; the platform discourages mass-marketing of referral links.
Offer expires: N/A
What else should you know about SoFi Invest bonuses?
Online brokerages frequently update their promotions; consider checking for updates periodically. We track the latest SoFi Invest promotions here.
Are SoFi Invest promotions worth it?
If you're weighing SoFi Invest vs. another brokerage, one of SoFi Invest's promotions might tip the scales. It's one more factor to consider. But more important than promos are fees, ease of use, and features SoFi Invest offers. In this case, SoFi Invest happens to be one of the best free stock brokers out there, comparable to low-cost alternatives like Robinhood and Fidelity.
Brokerage Transfer Bonus: The SoFi transfer bonus is generous compared to similar promotions. Few brokers offer up to $10,000 on account transfers.
Sign-Up Bonus: The SoFi sign-up bonus is a neat perk. That said, the vast majority of new users will get at most $5 worth of stock. It's nice but nothing worth writing home about.
Referral Bonus: If SoFi Invest suits a friend, it's worth referring them to SoFi Invest and earning the referral bonus. SoFi Invest is an excellent stock trading platform for beginning investors and long-term investors.
RELATED: SoFi Bank Promotions
Alternatives to Consider
We recommend comparing brokerage options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of our best trading platforms of 2024.
| Account | Fees | Account Minimum | |
|---|---|---|---|
|
Featured Offer
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
$0 for stocks, ETFs, and options; $5 monthly for Robinhood Gold | $0 | |
|
$0 for stocks, $0 for options contracts | $0 | |
Rating image, 5.0 out of 5 stars.
5.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
$0 commission for online U.S. stock and ETF trades; trade fractional shares for as little as $1 | $0 |
FAQs
-
SoFi Invest doesn't accept transfers of cryptocurrencies. Nor does it accept stocks that trade on OTC, Pink Sheets, or most low-priced securities.
-
You get the SoFi Invest Transfer Bonus within 14 days of the end of the month within which assets settle; if your assets settle in February, you'll get your bonus by March 14.
You get the SoFi Invest Sign-up Bonus within seven days of funding your account.
-
You can earn the Brokerage Transfer Bonus as many times as you want while the promotion lasts. SoFi Invest calculates this bonus based on how much you transfer each calendar month; deposits made in Month One don't count toward deposits made in Month Two. If you transfer a net total of $5,000 during January, you'll earn $50. If you then transfer a net total of $15,000 in February, you'll earn $50 again. But if you transfer $20,000 in either January or February, you'll earn $125.
Likewise, bonuses are split per account you deposit into. A $1,000 transfer into a SoFi Active Investing account is treated as separate from a $1,000 transfer into a SoFi Invest Roth IRA when calculating bonus earnings.
You can only earn the SoFi Invest Sign-up Bonus once.
Our Brokerages Experts
Cole Tretheway is a full-time personal finance writer whose articles have been featured on The Ascent and The Motley Fool. He has a degree in English with a Certificate in Professional and Technical Communication from California Polytechnic University, SLO.
Fact Checked
Ashley Maready
Ashley Maready is a former history museum professional who made the leap to digital content writing and editing in 2021. She has a BA in History and Philosophy from Hood College and an MA in Applied History from Shippensburg University. Ashley loves creating content for the public and learning new things so she can teach others, whether it's information about salt mining, canal mules, or personal finance.
Share This Page
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
Cole Tretheway has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Robinhood disclosure
All investments involve risk and loss of principal is possible.
Securities are offered through Robinhood Financial LLC, member FINRA/SIPC. Cryptocurrency services are offered through an account with Robinhood Crypto, LLC (NMLS ID 1702840). Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Cryptocurrency held through Robinhood Crypto is not FDIC insured or SIPC protected. For more information see the Robinhood Crypto Risk Disclosure.
Trades of stocks, ETFs and options are commission-free at Robinhood Financial LLC. Other fees may apply. Please see Robinhood Financial’s Fee Schedule to learn more.
Fractional shares are illiquid outside of Robinhood and are not transferable. Not all securities available through Robinhood are eligible for fractional share orders. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see the Fractional Shares section of our Customer Agreement.
Robinhood Gold is an account offering premium services available for a $5 monthly fee. Not all investors will be eligible to trade on Margin. Margin investing involves the risk of greater investment losses. Additional interest charges may apply depending on the amount of margin used. Bigger Instant Deposits are only available if your Instant Deposits status is in good standing.
Fidelity disclosure
Fractional share quantities can be entered out to 3 decimal places (.001) as long as the value of the order is at least $1.00. Dollar-based trades can be entered out to 2 decimal places (e.g. $250.00)