SoFi Active Investing makes it easy to start buying and selling stocks and ETFs with no trading or commission fees.
Are you looking to build your investment portfolio with active trading and DIY investor?
What is SoFi Active Investing Account?
The SoFi Active Investing account is offered by SoFi Invest for the DIY investor looking to actively trade individual stocks, fractional shares, and exchange-traded funds (ETFs). With SoFi Active Investing, there are no account minimums and pay zero commission fees.
SoFi Active Invest is a great option for beginner investors who want to be active traders.
What’s the difference between active and passive investing?
Active Investing is about buying and selling stocks with a goal to potentially beat average market returns by choosing short-term profits over long-term gains.
As a passive investor, you invest money in a group of stocks, such as an index fund or exchange-traded fund (ETF), and let the market do its thing with little activity.
Both of these aspects come with a level of risk.
How SoFi Active Investing Works
SoFi Active Investing is an active trading platform offered by SoFi Invest. They offer a user-friendly mobile app without trading fees and minimums.
- Do-it-yourself (DIY) investing: choose how much and what stock or ETFs to invest in.
- Buy and sell stocks and ETFs during regular stock market hours.
- Get fractional shares with just $5.
- Access and invest in IPOs before they begin trading on a public exchange.
SoFi Invest refers to the three investment and trading platforms operated by Social Finance, Inc. The investing products include SoFi Automated Investing, SoFi Active Investing, and Cryptocurrency offered by SoFi Digital Assets, LLC.
SoFi Securities is a Member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash).
Features and Benefits
SoFi Active Invest offers a number of features including:
- Commission-free trading: pay zero commission fees when you buy and sell stocks.
- No account minimums: you can start a SoFi Invest account with $1.
- Real-time trades: orders are executed immediately during market hours.
- Fractional share investing: Own a slice or fractional shares of stock from your favorite companies without committing to buying the entire individual stock.
- IPO Access: Invest in IPOs before they are made available and open to the general market.
- Autopilot: set recurring investments on a schedule you choose and let SoFi Invest automatically purchase shares of stock and ETFs.
- Dividend reinvestment: have your dividends automatically reinvested to help with compound growth.
- Financial advice: speak with a certified financial planner to help you along the way.
- Career coaching: at no extra cost learn how to improve your marketable skills.
SoFi offers multiple financial products. They include:
- SoFi Invest: the brokerage service offers SoFi Active Investing, SoFi Automated Investing, and crypto.
- SoFi Retirement: invest in tax-advantaged retirement plans like traditional and Roth IRAs.
- SoFi Money: Access a bank account with checking, debit card, bill pay services, and rewards.
- Student Loans: Apply for private student loans or student loan refinancing.
- Loans: Apply for personal loans, mortgages, and more.
- Must be at least 18 years old.
- Verifiable personal information.
- Social security number.
SoFi Invest does not charge transaction fees or inactivity fees.
- Management fee: $0
- Trading fee: $0
It’s important to note that there are no commissions on trades of stocks but owning ETFs often include expense ratio fees priced into the fund.
Who is it best for?
SoFi Invest is best for new investors. For the active trader, the SoFi Active Invest can be a good alternative to Robinhood.
For experienced investors, consider a more robust active investing app like Webull which offers research tools, charting, and access to real-time data.
SoFi Active Investing Review
SoFi Invest is a legit service offered by a publicly-traded company ($SOFI). The SoFi Invest app has a 4.7 out of 5-star rating in the App Store.
In our SoFi Invest review, we learned investors can benefit from the app’s simplicity, zero trading commissions, interactive tools, and no minimum deposit requirements. With SoFi Active Investing, you can buy and sell stocks, fractional shares, and ETFs without the clutter and charts that often make new investors nauseous.
Pros and Cons
- User-friendly and intuitive mobile app
- Fractional shares
- No account minimums
- Financial and career coaching
- Limited active trading features like stop loss
- No tax-loss harvesting
How to Start a SoFi Invest Account
The time needed: 3 minutes.
Step-by-Step to open an account
- Getting started
- Download the app or click this link to start.
- Select Active Investing
- Submit your personal information such as name, email, and password.
- Fund your account
- Add money to your new brokerage account.
- Choose your stocks
- Start investing and build your portfolio.