SoFi Invest Rating: 
SoFi Invest Overview
SoFi has grown into a large financial-services company with an impressive line of products that goes far beyond brokerage accounts. This firm is definitely worth a look.
Investment Accounts and Tradable Products
Brokerage (self-directed) and managed (investment-advisory) accounts can be opened at SoFi Invest. These, of course, are only one part of the broader financial experience because the company offers much more than just investing.
Brokerage accounts, which SoFi calls active-investing accounts, can trade equities, mutual funds, options, exchange-traded funds, and closed-end funds. There are no other asset classes available at the moment, and short positions are not permitted.
Robo accounts are invested automatically in a small group of ETFs, which are often SoFi-branded funds. These automated accounts are also able to get help from human financial planners, so the program really works as a hybrid investment-advisory setup.
Whether an account is a brokerage or automated account, it must have a tax structure. SoFi Invest has joint, individual, and retirement accounts, although brokerage accounts still cannot be opened as joint accounts.
A securities account will be protected by SIPC, the major insurer of securities accounts in the United States. The maximum coverage is $500,000 per account category.
Margin
Brokerage accounts, but not automated accounts, at SoFi Invest can apply for margin and use borrowed money to buy
more securities. Because this margin feature is a type of loan, there is
of course an interest rate to mention. Right now, SoFi Invest uses
tiered margin rates instead of a flat APY across all balance
levels.
Margin requirements, both initial and maintenance, are posted on every security’s profile at SoFi Invest,
which is a nice feature.
A cash account with SoFi Invest can upgrade to margin status on the broker’s website, although an account
value of at least
$2,000 must be established first.
SoFi Pricing for Investment Accounts
Brokerage and robo accounts at SoFi Invest have some of the lowest possible fees in the industry. There is a
0.25% annual management fee for the automated service, which means the ETFs inside the portfolios are not the only cost to keep in mind. Trades carried out by the robo advisor cost nothing.
Self-directed accounts also pay no commissions on
stocks, ETFs, and options. Options have no per-contract
fees, although SoFi does have a $5 fee for exercises and assignments. Because there is no management
service in brokerage accounts, there is no management fee. However, there is a $25 annual inactivity fee
assessed against securities accounts. It can be avoided simply by logging in at least once every 6 months. Some mutual fund purchases can also carry transaction fees.
Banking Tools
As already promised, SoFi Invest comes through with a rather extensive cash-management department. A single login is all it takes to access both investment and bank services. Examples of the latter include:
- Personal loans
- Free credit score
- Mortgage loans
- Checking and savings accounts
- Student loans with refinancing options
- World Elite Mastercard credit card with unlimited 2% cash back
- World Mastercard debit card
SoFi’s banking program comes with a combo checking-savings setup. It is not possible to open one or the
other; both must be opened together. The savings account comes with a high yield (3.3% right now with a qualifying direct deposit), and the checking account has the debit card. Neither account has any recurring fees, and they come with a long list of add-ons, including:
- SoFi Insured Deposit Program with access to up to $3 million in FDIC insurance
- Round ups when using the debit card
- Vaults to manage savings goals
- Cash bonus for opening an account
- Early payday
- No ATM fees at Allpoint® Network machines
Website
Although SoFi has a lot of financial services, it doesn’t have a spectacular website. The company emphasizes simplicity, and it really shows in its software, especially its trading tools. For example, the order ticket is still very basic, but it now supports more than just market and limit orders. There are also some time-in-force features, while the recurring-investment button remains one of the few standout tools here.
Charting on the SoFi site is an even sorrier experience. A graph cannot be expanded the full width of the monitor, there are only five years of price data, and there are no tools at all. A graph cannot be saved or exported, and there is only one plot style (line).
Because SoFi Invest has added options trading to its menu, chains now appear on a security’s profile if the account has been approved for derivative trading. Unfortunately, there are no spreads, and it’s not possible to create custom multi-leg trades. The SoFi site does show Greek values for individual contracts, which is the one real highlight here.
Despite the simplicity of the site, it does have one strength: the ability to pull in lots of services from other areas of the company. During our investigation, we found mortgage rates, quotes on life insurance, and educational materials.
Mobile App
SoFi has taken its website and copied a lot of it onto the mobile app. At the bottom, there is a menu for the various departments. These include:
- Home
- Banking
- Credit Card
- Invest
- Loans
The investing watchlist is actually on the Home screen. It syncs with the website, meaning it is the same watchlist. Tapping on an entry produces the asset’s profile, which has mostly the same features we saw on the website. The mobile app does have one feature we didn’t see on the website: investor activity. This page shows what other SoFi Invest customers are doing with a particular asset (buying or selling).
Option chains make an appearance on the app, although this time, Delta is the only Greek value displayed. The same rudimentary charting and order entry make appearances, too.
Other Software
During our research, we did not find any other software programs, such as a desktop platform, to bring trading to an advanced level. Thus, the trading experience at SoFi Invest is a rather simple one.
Customer Service
On both the website and mobile app, we found a robo-chat widget. During our testing of the system, we did not always receive an accurate response. For example, when we requested the stock price of Boeing, we received information on the cost basis of securities. Thankfully, it is possible to bring a human rep on board during normal business hours. These are from 8:00 am, Eastern Time, until 8:00 pm during the week. There are no weekend or overnight hours.
Outside of these hours, the website and mobile app do have some self-help features. It’s possible to download account documents (including tax forms), change an address, update financial information, pay bills, open a new account, scroll through promotions and offers, and so much more.
Because SoFi is a modern, online financial-services company, it has no branch locations. But there is phone service during normal business hours. The investment department’s number is (855) 525-SoFi.
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Additional Services
Fully-Paid Stock Lending: SoFi Invest recently launched a program for its customers to earn additional income by loaning out their shares of securities. They earn 15% of the total net proceeds.
IPO Access: SoFi Invest offers access to Initial Public Offerings, and in fact, it has quite an extensive educational section on them. The brokerage firm has no account minimum to buy an IPO, although selling within the first
120 days can trigger the firm’s IPO flipping policy and related fees.
Dividend Reinvestment Plan: SoFi Invest has a free DRIP service.
Extended Hours: SoFi Invest clients can trade before the opening bell and after the closing bell, specifically from
8:00 am to 9:30 am and
4:00 pm to 8:00 pm Eastern.
Fractional-share Trading: Whole-share and whole-dollar investing are both available in brokerage accounts.
Individual Retirement Accounts: There are
four IRA choices at SoFi Invest:
SEP, Roth, Traditional, and Traditional Rollover. The investment firm does charge $100 to close an IRA.
Recommendations
Active Stock Trading: Due to the lack of advanced software, we can’t defend SoFi Invest here.
Webull would be a good replacement.
Long-Term Investors & Retirement Savers: Because SoFi Invest has such a huge emphasis on holistic
money management, it could be recommended here.
Charles Schwab,
however, is a much better choice.
Beginners: A robo account. Be sure to take advantage of the company’s financial advisors.
Small Accounts: An inactivity fee of $25 will be assessed to each SoFi Invest account that is
inactive for the preceding 6 months. We recommend
Robinhood instead.
Mutual Fund Trading: SoFi Invest is pretty good for mutual funds, but Charles Schwab would be a
better choice.
SoFi Invest Review Summary
Although we do like SoFi’s large assortment of financial products and services, its investment program
can still feel underwhelming. The addition of mutual funds and fully-paid stock lending is hopefully a
sign of continued improvement.
Updated on 4/14/2026.
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