SoFi Invest offers commission-free trading, fractional shares, and no account minimums. But is it the right brokerage for you? Here’s our honest, detailed review.
SoFi started as a student loan refinancing company in 2011. Since then it has grown into a full financial ecosystem: banking, lending, credit cards, insurance, and investing. SoFi Invest is the brokerage arm, launched in 2018, and it has quickly become one of the most popular platforms for first-time investors.
We have used SoFi Invest for over a year to test the full experience: account opening, funding, trading, the robo-advisor, crypto, customer support, and the mobile app. This review covers everything a beginner needs to know before opening an account.
What SoFi Invest offers
SoFi Invest is actually three products in one app:
Active Investing. A self-directed brokerage where you pick your own stocks, ETFs, and crypto. Commission-free. Fractional shares available. This is what most beginners will use.
Automated Investing (Robo-Advisor). You answer a risk questionnaire, SoFi builds and manages a diversified ETF portfolio for you. Rebalances automatically. No management fee (most robo-advisors charge 0.25% to 0.50%). Good for people who want to invest but do not want to pick funds.
Crypto Trading. Buy and sell 30+ cryptocurrencies within the same app. No separate account needed. Crypto is available 24/7.
You can use all three simultaneously. One app, one login, three ways to invest.
Pricing and fees
This is where SoFi shines for beginners:
| Fee | Amount |
|---|---|
| Stock/ETF commissions | $0 |
| Account minimum | $0 ($1 for Active, $1 for Automated) |
| Robo-advisor management fee | $0 |
| Fractional share minimum | $5 |
| Crypto trading fee | Included in spread (typically 1.25%) |
| Account transfer out (ACAT) | $75 |
| Wire transfer | $25 |
| Paper statements | $0 |
| Inactivity fee | $0 |
No commissions, no minimums, no management fee on the robo-advisor. For a beginner putting $1,000 to work, the total cost to hold a portfolio of index ETFs is literally $0 from SoFi’s side (you still pay the ETF’s own expense ratio, like 0.03% for VTI, which is about $0.30/year on $1,000).
The main hidden cost is the crypto spread. SoFi does not charge a visible commission on crypto trades, but the buy/sell price includes a markup of roughly 1.25%. This is competitive with Coinbase but more expensive than dedicated crypto exchanges like Kraken. For occasional crypto purchases it is fine. For heavy crypto trading, use a specialized platform.
Account types available
- Individual taxable brokerage
- Traditional IRA
- Roth IRA
- SEP IRA
- Rollover IRA
- Custodial account (for minors)
- Automated (robo-advisor) account
- Crypto account
For most beginners, you will open either a Roth IRA (see our Roth IRA guide) or an individual brokerage account. SoFi supports both, with the same $0 minimums and $0 fees.
No joint accounts as of early 2026. If you need a joint brokerage, look at Fidelity or Schwab.
The mobile app experience
SoFi’s app is designed for people who are not finance professionals, and it shows. The interface is clean, colorful, and uses plain language instead of trading jargon. Opening an account took us 7 minutes from download to funded (using instant bank verification).
Buying a stock or ETF: search for the ticker (e.g., VTI), tap “Buy,” enter a dollar amount or share quantity, confirm. Three taps. No order type confusion, no bid-ask spread warnings, no limit/market dropdown that intimidates beginners. If you want those advanced features, they are available under “Advanced order,” but they are tucked away, not in your face.
Portfolio view: shows total balance, daily/total gain or loss, and a simple allocation breakdown. Nothing overwhelming.
Automated Investing (robo): answer 7 questions about your goals, timeline, and risk tolerance. SoFi builds a portfolio of low-cost ETFs and handles rebalancing. You can adjust your risk level anytime. The onboarding takes about 3 minutes.
Discover section: educational articles, stock lists (trending, top movers, analyst picks), and IPO access (SoFi occasionally offers early access to IPOs, though this is limited to select offerings).
The app runs smoothly on both iOS and Android. No crashes during our testing period. Push notifications for price alerts, dividend payments, and account activity are well-implemented and not spammy.
The desktop web experience is functional but clearly secondary. If you prefer doing research on a computer with multiple charts and screeners open, Fidelity or Schwab will serve you better. SoFi is a mobile-first platform.
What you can trade
Stocks: Thousands of US-listed stocks and ADRs. No international exchanges.
ETFs: Full access to US-listed ETFs including Vanguard, iShares, Schwab, and SPDR. This is all you need for a diversified portfolio (VTI, VXUS, BND).
Crypto: 30+ coins including Bitcoin, Ethereum, Solana, and others. Traded within the same app, 24/7.
Options: Available for experienced traders. Not recommended for beginners and not relevant to this review.
What you cannot trade on SoFi: Mutual funds, bonds, futures, forex, penny stocks (OTC markets), and international stocks listed on foreign exchanges. For a beginner buying index ETFs, none of these limitations matter. If you later want to buy individual bonds or mutual funds, you will need to open an account at Fidelity, Schwab, or Vanguard.
Fractional shares
SoFi supports fractional shares with a $5 minimum investment. You can buy $5 worth of any stock or ETF, regardless of its share price. This is essential for beginners because it means you can build a diversified portfolio with any amount. Put $333 in VTI, $167 in VXUS, and $50 in BND with a $550 investment. No need to wait until you can afford full shares.
Fractional shares are available for both market and limit orders. They also work with recurring investments (auto-invest), which we consider a must-have feature for long-term wealth building.
Auto-invest (recurring purchases)
SoFi lets you set up automatic recurring purchases of any stock or ETF on a schedule: weekly, biweekly, or monthly. This is dollar-cost averaging on autopilot.
Set it up once: $250/month into VTI on the 1st, $125 into VXUS on the 1st, $50 into BND on the 1st. Then forget about it. SoFi executes the trades automatically. This is how we recommend beginners invest (see our investing guide for why automation matters).
Not all brokerages offer auto-invest for individual ETFs. SoFi’s implementation works well and was reliable during our testing period.
The SoFi ecosystem advantage
SoFi is more than a brokerage. If you use SoFi for banking (SoFi Checking and Savings), you get:
- 4.50% APY on savings with direct deposit (competitive with standalone high-yield savings accounts)
- Instant transfers between your SoFi bank account and SoFi Invest (no 1 to 3 day ACH wait)
- Free financial planner access. SoFi members can schedule 1-on-1 sessions with a certified financial planner at no cost. This alone is worth hundreds of dollars if you use it.
- Complimentary stock for new members who fund an account (amount varies by promotion, typically $5 to $100).
The ecosystem approach means less friction. Your paycheck arrives in SoFi Checking, auto-transfers to SoFi Savings (emergency fund earning 4.50%) and SoFi Invest (Roth IRA buying VTI). Everything in one app, zero transfer delays, zero fees. For beginners who value simplicity, this integration is a genuine advantage.
Who SoFi Invest is best for
Absolute beginners. If you have never invested before and the idea of opening a brokerage account feels intimidating, SoFi’s onboarding and interface will feel the least overwhelming. We tested onboarding at Fidelity, Schwab, Vanguard, and Robinhood as well. SoFi was the most beginner-friendly by a clear margin.
People investing under $50,000. At this level, you do not need advanced research tools, complex order types, or institutional-grade charting. You need zero fees, fractional shares, and a clean app. SoFi delivers all three.
“Set it and forget it” investors. The combination of auto-invest (Active) and the free robo-advisor (Automated) makes it easy to build a portfolio and never think about it. This is the correct approach for most people.
SoFi banking customers. If you already use SoFi for checking or savings, adding Invest is effortless and the instant transfers are a real convenience.
Who should look elsewhere
Active traders. If you want advanced charting, Level 2 quotes, hotkeys, extended hours trading, or a desktop trading platform, use Fidelity Active Trader Pro, Schwab’s thinkorswim, or Interactive Brokers. SoFi is not built for this.
Research-heavy investors. Fidelity and Schwab offer significantly better research tools: analyst reports, stock screeners, earnings estimates, sector analysis. SoFi’s research section is basic.
Bond and mutual fund investors. SoFi does not offer individual bonds or mutual funds in the self-directed account. If you want to buy VTSAX (Vanguard Total Stock Market index mutual fund) instead of VTI (the ETF version), you need Vanguard or Fidelity. For most beginners, the ETF version is identical in function, so this is a minor limitation.
International stock traders. SoFi only offers US-listed securities. No access to London, Tokyo, or Hong Kong exchanges. If you want to buy individual foreign stocks directly, use Interactive Brokers.
Crypto-heavy investors. The 1.25% spread adds up on large or frequent crypto trades. Use Coinbase Advanced or Kraken for better pricing if crypto is a significant part of your strategy.
SoFi Invest vs. the competition
| Feature | SoFi Invest | Fidelity | Schwab | Robinhood |
|---|---|---|---|---|
| Commissions | $0 | $0 | $0 | $0 |
| Account minimum | $0 | $0 | $0 | $0 |
| Fractional shares | Yes ($5 min) | Yes ($1 min) | Yes ($5 min) | Yes ($1 min) |
| Robo-advisor fee | $0 | 0.35% (Fidelity Go) | 0% (Intelligent Portfolios, $5K min) | N/A |
| Mutual funds | No | Yes (thousands) | Yes (thousands) | No |
| Research tools | Basic | Excellent | Excellent | Basic |
| Crypto | Yes (30+ coins) | No | No (Schwab Crypto launching) | Yes (20+ coins) |
| Auto-invest ETFs | Yes | Yes | Yes | Yes |
| Financial planner | Free for members | $0 (basic), paid for planning | Free basic guidance | No |
| Best for | Beginners | All-around | All-around | Beginners |
SoFi wins on simplicity and the free robo-advisor. Fidelity and Schwab win on depth. Robinhood is similar to SoFi but lacks the banking ecosystem and financial planner access. For a first brokerage, SoFi and Fidelity are our top two picks, with SoFi edging ahead for people who want the least intimidating experience.
Security and regulation
SoFi Securities LLC is a registered broker-dealer with FINRA and a member of SIPC. Your securities are protected up to $500,000 ($250,000 for cash) if SoFi were to fail. This is the same protection level as Fidelity, Schwab, and every other US broker.
SoFi uses bank-level encryption (256-bit AES), two-factor authentication, and biometric login (fingerprint/Face ID). They also offer a security guarantee: if unauthorized transactions occur in your account and you notify SoFi promptly, they will cover the losses.
Crypto assets are not covered by SIPC or FDIC. This is true at every platform, not just SoFi. Only invest in crypto what you can afford to lose entirely.
Our verdict: 4.5 out of 5
SoFi Invest is the best brokerage for someone opening their first investment account. The combination of zero fees, zero minimums, fractional shares, a free robo-advisor, auto-invest, and the cleanest beginner UX in the category makes it our top recommendation for new investors.
It loses half a point for limited research tools and the absence of mutual funds and bonds. These are real limitations, but they are irrelevant for 90% of beginners who should be buying 2 to 3 index ETFs and leaving them alone.
Start with SoFi. Learn the basics. Build your portfolio to $50,000+. If you outgrow it, open a Fidelity or Schwab account and transfer. But most people will not need to. SoFi does everything a long-term index investor requires, and it does it with less friction than anyone else.
Open your SoFi Invest account for free