Summary
SoFi Invest is an online investment platform that provides commission-free trading for stocks, ETFs, and options. It also offers automated investing, retirement accounts (IRAs), and access to financial planners. The platform allows users to invest in fractional shares and participate in IPOs.
Features2/12
See allMust Have
2 of 5
Commission-Free Stock Trading
Bitcoin Trading
Instant P2P Transfers
Prepaid Debit Card (Cash App Card)
Early Direct Deposit
Other
0 of 7
Fraud Monitoring & Security
High-Yield Savings
Round-Up Savings
Pay Over Time (Afterpay)
Instant Discounts & Offers
Customizable Card Designs
ATM Access & Fee Reimbursement
PricingFreemium
See allActive Investing
- Commission-free stock trading
- Commission-free ETF trading
- Options trading (no contract fees, other fees apply)
- IPO investing
- Fractional shares (start with $5)
- Real-time market news
- Extended trading hours
- Personal watchlist
- Alternative investments
- Other fees apply (e.g., IPO fees, SEC Regulatory Trading Fee, FINRA Trading Activity Fee, options contract fees)
- Restrictions may apply for fractional shares and IPOs
- Fractional shares may not be ACAT and may not have voting rights
Automated Investing
- Automated diversified portfolio management
- Personalized portfolio recommendation
- No SoFi advisory fee
- Minimum of $1 to start investing
Retirement Accounts (IRAs)
- Traditional, Roth, and SEP IRAs
- Active or automated investing options
- Access to robust stock trading options
- Member services
- Investment tools
- 1% IRA match on rollovers and contributions (minimum $20K rollover for match)
- IRA 1% contribution match concludes on April 30th, 2025
Rationale
SoFi Invest offers commission-free stock trading and also mentions 'Crypto Partner Hub' which implies bitcoin trading, aligning with two must-have features. However, it does not offer peer-to-peer transfers, a prepaid debit card, or early direct deposit, which are core to the Cash App concept.
