This is not investment advice. The information provided is for educational and informational purposes only and does not constitute a recommendation to buy or sell any financial product.
SoFi Invest is an all-in-one finance app that combines banking, investing, loans, and a credit card in a single interface. It is aimed at young professionals who want to manage their financial life in one place without paying fees.
Fees
| Fee Type | Cost |
|---|---|
| Stock/ETF commission | $0 |
| Options | $0/contract |
| Margin rate (USD) | Not available |
| Inactivity fee | $0 |
| Account minimum | $0 |
| Crypto | 1.25% markup |
| Robo-advisor | 0% management fee |
SoFi charges zero commission, zero per-contract options fees, and zero management fee for its automated investing service. Crypto carries a 1.25% markup, which is high compared to Coinbase and Robinhood.
Platform and tools
SoFi Invest's platform is deliberately simple. The app is clean, the trading flow is intuitive, and the dashboard combines your banking balance, investments, and loan status in one screen. There is no advanced charting, no screeners, and no paper trading.
The automated investing service builds a portfolio of ETFs based on your risk tolerance and rebalances automatically. The human advisor access requires a minimum balance.
Product range
SoFi offers stocks, ETFs, fractional shares (from $5), crypto (20+ coins), and IPOs. There are no mutual funds, bonds, options, futures, or forex. SoFi also offers banking (checking and savings), personal loans, student loan refinancing, a credit card, and insurance through partners.
Regulation and safety
SoFi Securities is regulated by the SEC and FINRA. SIPC coverage protects up to $500,000. SoFi Bank is FDIC-insured. The company is publicly traded (NASDAQ: SOFI) but is less established than century-old brokers. Read the full safety analysis.
Pros and cons
Pros: All-in-one finance app, commission-free trading, zero robo-advisor fee, IPO access, no account minimum, public company.
Cons: No advanced trading tools, no mutual funds or bonds, high crypto markup, limited customer support during market hours, relatively new to brokerage compared to Schwab/Fidelity.
Is SoFi Invest right for you?
SoFi Invest is the best choice if you want one app for banking, investing, and loans without paying fees. It is a good starting point for young professionals who are new to investing. Active traders and research-heavy investors should look at Charles Schwab or Fidelity.
Common questions
Is SoFi a real broker? Yes. SoFi Securities is an SEC-registered broker-dealer and FINRA member. Your securities are SIPC-insured.
Can I trade options on SoFi? Yes, with zero per-contract fees. The tools are basic compared to dedicated options platforms.
Does SoFi have a robo-advisor fee? No. SoFi Automated Investing charges 0% management fee. The underlying ETFs have their own expense ratios.