SoFi Active Invest Review: Get Up to $1,000 in Stock When You Fund a New Account

The investing world can be complicated and overwhelming, especially if you’re new.

There are many ways to put your money to work, from stocks and ETFs. And seeing your wealth double or triple via compound interest isn’t unheard of once you get the hang of it.

The SoFi® Active Invest account is an excellent place for investors of all levels. It has a one-stop-shop approach with valuable resources to help build your financial portfolio.

But is it the right tool for you?

Let’s go through the platform’s details to help you decide!

What Is SoFi?

SoFi, or Social Finance Inc., began as a student loan refinancing company in 2012. But fast-forward over a decade, it blossomed into a massive platform on a mission to help members reach their financial goals.

They’re offering everything from personal loans to investment services, one of which is the SoFi Active Invest option. It’s designed to make investing as accessible as possible, whether you’re a newbie dipping your toes in or a seasoned pro looking for a fresh approach.

SoFi Active Invest Account: Key Features

SoFi Active Invest has everything you need to build your investment portfolio quickly. Here’s a quick rundown of some of its main features:

Zero Commissions: You can trade stocks and ETFs without worrying about commission fees, translating into more money in your pocket.

Fractional Shares: With as little as $5, you can own a piece of a company share instead of buying the whole thing.

Custom Portfolios: Pick and choose your stocks and ETFs, or let SoFi build your portfolio!

Educational Tools: SoFi offers many resources, including investing news updates, how-to guides, and financial advisors, to guide your investment journey.

Is SoFi Safe To Use?

SoFi takes your safety seriously. The platform is a member of FINRA/SIPC, which means your investments are protected up to $500,000. It also uses high-grade encryption to keep your data secure.

Still, no matter where you invest, there’s always the risk of losing money. However, the platform’s resources and automated investing options are there to help you invest wisely and minimize losses whenever possible.

Many users also love the app, giving it an outstanding rating of 4.6 on Trustpilot.

How To Sign Up For A SoFi Active Invest Account

Getting started with SoFi Active Invest is a breeze. Here’s how you do it:

  1. Sign up for an account and provide some information about yourself
  2. Once you open an Active Invest Account, decide whether to build your portfolio or use a SoFi-created one based on your preferences.
  3. Link your bank and transfer funds into your SoFi account.
  4. Start investing and building your portfolio!
  5. BONUS: SoFi will give you up to $1,000 in stock when you fund an Active Invest account with just $25!*

SoFi Active Invest: Pros And Cons

Pros

  • No commission fees for any transactions you make
  • Beginner-friendly interface that’s perfect for new investors
  • A one-stop platform that offers various ways to invest
  • Educational tools members can use as a guide
  • Welcome bonus for members

Cons

  • The platform’s features can be a bit limited for more advanced investors
  • Fractional shares aren’t available for every company

The Bottom Line

SoFi Active Invest is a convenient, user-friendly option for starting your financial journey. However, if you’re a pro looking for more advanced features, you might find some of its offerings limited.

For most everyday investors, SoFi Active Invest is a popular choice and you’ll have plenty of educational resources at your fingertips.

Ready to start building your portfolio?

Read More:

INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE

Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA/SIPC.

*The probability of a SoFi Member receiving $1,000 is a probability of 0.028%. Customer must fund their Active Invest account with at least $25 within 30 days of opening the account

1. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees.

2. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA /SIPC.

3. There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event.

4. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options

5. Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser.

6. Utilizing a margin loan is generally considered more appropriate for experienced investors as there are additional costs and risks associated. It is possible to lose more than your initial investment when using margin. Please see https://www.sofi.com/wealth/assets/documents/brokerage-margin-disclosure-statement.pdf for detailed disclosure information

7. Terms and conditions apply. Roll over a minimum of $20K to receive the 1% match offer. Matches on contributions are made up to the annual limits.