SoFi Review
SoFi Invest is an easy-to-use brokerage platform that caters to beginners and long term investors. With no commissions on stock and ETF trades, it’s a great option for those looking for an affordable way to enter the market. SoFi also integrates with its other financial products, allowing users to manage all of their investments, loans, and banking services all in one place.
Pros
Market News by TipRanks
No comission trading
No account minimums
Access to IPOs
Access to alternative investment funds
Cons
No research tools by TipRanks
Limited asset selection (no futures, or bonds)
SoFi Ratings
4/5
Trading Opportunities at SoFi
SoFi Invest offers a limited selection of stocks and ETFs and a range of funds that invest in alternatives (like private credit, real-estate, commodities and venture capital) as well as level 2 options, however it does not offer bonds, futures, or forex trading.
Customer Service
SoFi provides excellent customer service, with access to support through chat, email, and phone. Most users report positive experiences, and the company offers robust resources to help users resolve issues quickly.
Pricing and Fees
SoFi Invest charges no commissions on stock or ETF trades, making it an affordable option for those new to investing. Additionally, there are no account maintenance fees, so you can start investing without worrying about hidden costs.
Mobile App
SoFi’s mobile app is clean and simple, offering features for portfolio management and basic trading. However, it’s more suited to beginners and lacks some of the sophisticated tools that advanced traders may need.
User Experience & Perks
SoFi Invest offers a smooth and straightforward user experience. The platform is designed with simplicity in mind, which makes it easy for new investors to understand and navigate. However, it may feel limiting to experienced traders. The integration with other SoFi products adds extra convenience for users looking to manage all their financial needs in one place.
Final Verdict
SoFi Invest is a great option for beginners who want an easy and low-cost way to start investing in stocks and ETFs or to experienced users that already utilize SoFi’s other financial products. However, more advanced traders may find the platform too simplistic.
SoFi Dislclosure :
Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org).
Other fees, such as exchange fees, may apply. Please view SoFi’s fee disclosure to view a full listing of fees.
Exchange Traded Funds (ETFs) may have their own management fees paid directly by the fund. Please consider these fees and objectives in the fund’s prospectus before investing.
Investing in IPOs comes with risk, including the risk of loss. Please visit https://www.sofi.com/iporisk/. Offered via SoFi Securities LLC, Member FINRA/SIPC.
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
Advertiser Disclosure
TipRanks may receive compensation from the brokers reviewed above in the form of affiliate links. This means that when users open accounts through the links provided on this site, TipRanks may earn a commission. We always aim to offer accurate, unbiased information to help users make informed decisions. Please note that past performance is not indicative of future results, and all investments carry inherent risks. Ensure you do your own research and consult with a financial advisor before making investment decisions.
