Roughly 60% of Americans now own stocks, and many of them started with apps that promise zero commissions. SoFi stocks have become a popular entry point for new investors who want a simple platform without the clutter of a traditional brokerage.
SoFi Invest sits inside the larger SoFi app, which also offers banking, lending, and credit-building tools. That all-in-one approach appeals to people who want fewer logins and more control over their money.
This guide breaks down how SoFi stocks work, what it costs, and how the platform compares to other popular brokers.
What Are SoFi Stocks?
SoFi stocks refers to the equity investments you can buy through SoFi Invest, the brokerage arm of SoFi Technologies. The platform lets you trade individual stocks, exchange-traded funds (ETFs), and even fractional shares.
Fractional shares are a big deal for beginners. Instead of needing $200 to buy a single share, you can put in $5 and own a slice of that same company.
SoFi also offers automated investing for hands-off investors. You answer a few questions, and the platform builds a portfolio based on your goals.
Who SoFi Invest Is Built For
SoFi Invest tends to attract first-time investors and people who already use SoFi for other services. The interface is clean, the learning curve is short, and there are no commissions on stock or ETF trades.
More experienced traders may find the platform limited. SoFi does not offer options trading, mutual funds, or advanced charting tools that some active traders rely on.
Key Features of SoFi Stocks
SoFi packs several useful features into a single app. Here is what stands out.
Commission-Free Trading
You can buy and sell stocks and ETFs without paying a per-trade fee. This puts SoFi in the same league as Robinhood and Public, two other popular commission-free brokers.
Robinhood
Robinhood
Robinhood is a trading platform that brings stocks, ETFs, options, futures, prediction markets, crypto, and retirement accounts together in one app.
Standout feature
One platform for stocks, ETFs, options, futures, prediction markets, and crypto
Fees
$0 commission on stocks, ETFs, and options.
Pros
Zero-commission trading on stocks, ETFs, and options
Cons
Best perks (high APY, lower margin rates) require Gold subscription ($5/month)
Fractional Shares
SoFi calls these Stock Bits. You can buy as little as $5 worth of more than 4,000 stocks and ETFs. This makes it easier to build a diversified portfolio with a small amount of money.
IPO Access
SoFi gives regular users early access to select initial public offerings (IPOs). Historically, IPO shares were reserved for institutional investors, so this is a notable perk.
Automated Investing
If you do not want to pick stocks, SoFi Invest can build a portfolio for you. There are no advisory fees, which is rare in the robo-advisor space.
SoFi Stocks vs Robinhood vs Public
All three brokers offer commission-free trades and fractional shares. The differences come down to features, community, and overall feel.
In a head-to-head SoFi vs Robinhood comparison, Robinhood leans toward active traders. It offers options, crypto, and a margin product called Robinhood Gold. The app is fast, but some critics say it gamifies trading.
Public focuses on long-term investing and community, and our Public.com review covers what makes it different. You can see what other investors are buying, follow themes, and access educational content. Public also offers Treasury bills and bonds, which SoFi does not.
SoFi Invest sits in the middle. It is simpler than Robinhood but less community-driven than Public. The big advantage is bundling, since you can manage banking, loans, and investing in one place.
How to Start Investing with SoFi
Getting started with SoFi stocks takes about 10 minutes. You will need a few basic items ready.
What You Need to Sign Up
To open a SoFi Invest account, you typically need to be at least 18, a U.S. resident, and have a Social Security number. You will also need a government-issued ID and a bank account to fund your trades.
Funding Your Account
You can link a checking account and transfer money in. Most transfers settle in a few business days, though some funds may be available sooner for trading.
Start small if you are new. Many investors begin with $25 to $100 just to learn how the platform works.
Building Your First Portfolio
A diversified portfolio usually includes a mix of stocks, ETFs, and sometimes bonds. ETFs that track broad indexes like the S&P 500 can help reduce risk for beginners.
Fractional shares make diversification easier. With $100, you can split your money across 10 different companies instead of buying just one.
Pros and Cons of SoFi Stocks
No platform is perfect. Here is a quick look at the tradeoffs.
On the plus side, SoFi offers commission-free trades, fractional shares, IPO access, and free automated investing. The integration with SoFi banking and lending products is another draw. If you also want a rewards card from the same ecosystem, see our SoFi credit card review.
On the downside, SoFi does not offer options, mutual funds, or some advanced research tools. Customer service has had mixed reviews, and the platform may feel basic for experienced investors.
Tips Before You Start
Investing can help build wealth over time, but it carries risk. A few habits may improve your odds.
First, build an emergency fund before investing. Understanding saving vs investing can help you decide how to split your money. Most experts suggest three to six months of expenses in a savings account.
Second, pay down high-interest debt. Credit card balances often grow faster than investment returns, so tackling them first usually makes sense.
Third, keep an eye on your credit. Building credit alongside investing puts you in a stronger financial position. A credit builder card is designed for credit building, and tools like free credit monitoring can help you watch your score over time.
Frequently Asked Questions
Is SoFi a good platform for beginners?
SoFi Invest is often a solid choice for beginners thanks to its clean interface, fractional shares, and commission-free trades. The app also bundles banking and investing, which can make money management simpler. New investors may still want to compare it with Robinhood and Public before deciding.
Are SoFi stocks really commission-free?
Yes, SoFi does not charge commissions on stock or ETF trades. However, like all brokers, SoFi may earn revenue through other channels such as payment for order flow and interest on uninvested cash. You should still review the fee schedule before opening an account.
Can I buy crypto on SoFi?
SoFi previously offered crypto trading but discontinued it for U.S. users in late 2023. If crypto is a priority, you may want to look at platforms that still support it. SoFi continues to focus on stocks, ETFs, and retirement accounts.
What is the minimum to invest with SoFi?
There is no account minimum to open SoFi Invest. You can start buying fractional shares with as little as $5. This low barrier makes it easier for new investors to test the platform without committing a large amount of money.
