Innovations such as low account thresholds and partial share ownership have made investing more accessible than ever.
SoFi Invest is a trading platform that offers many of these “quality-of-life” features such as automatic management and repeating investments.
Does that mean it deserves all the hype? Is SoFi investing even legit?
We think so. Keep reading to find out why.
|Product Name||SoFi Investing|
|Services||Investment And Brokerage Platform|
|Minimum Investment||$1, $10 For Cryptocurrency|
SoFi Investing Summary
- SoFi was established in 2011 as a one-stop financial shop for users.
- SoFi concentrates on providing low-cost investing by not collecting administration fees for its automated investment platform or charges on open positions.
- It offers commission-free trading.
Pros & Cons
- As its main selling point, SoFi Investing has a $0 management fee.
- Membership perks include lower interest rates on SoFi loans, access to regional networking opportunities, business mentoring, and much more.
- Free access to licensed investment advisors via SoFi Investing.
- Only available to US citizens at this time.
- No forex or mutual funds trading.
What Is SoFi Investing?
SoFi Investing is an investing platform with low-cost and straightforward market access. It was created with novice and idle traders in mind.
SoFi Investing handles the entire procedure for you setting it apart from other investment platforms. Investing is made simple via their mobile app and designed so that anyone can navigate the platform.
Even if you’re a complete rookie and find yourself getting stuck you can contact SoFi directly where you can live chat with real financial advisors and they’ll walk you through the process.
- With SoFi Invest, you don’t have to conduct research on the assets before investing. Instead, SoFi Invest manages this process for you. Just make sure you are comfortable with the risk tolerance of any investment.
- You can use their Robo adviser for idle trading or their direct investment to make your investments.
What Does SoFi Investing Offer?
SoFi Invest allows SoFi Money users to automatically deposit earnings and start investing in cryptocurrencies, buy stock Bits, or fractional shares of stocks.
For digital stocks and ETF transactions, SoFi provides free-of-charge trading. SoFi Investing offers two investment strategies to pick from:
- SoFi Active Investing: Allows you to trade stocks and ETFs independently through a self-directed investment portfolio.
- SoFi Automated Investing: SoFi Investing uses a Robo-advisory-based technology to handle your assets.
Clients have various IRA selections with SoFi including, Sofi Roth IRAs, regular IRAs, and SEP IRAs. Investors looking to open a Roth IRA on a low-cost, automated platform may find SoFi the best choice.
All SoFi Invest clients are eligible to receive free, individualized financial counseling from SoFi’s group of complete fiscal advisors. Non-commissioned advisors are obligated by law to make recommendations that are in investors’ best interests since they are bound by the fiduciary rule.
Something that would be nice to see SoFI implement is tax-loss harvesting. Considering everything they already offer, that might be asking too much of a Robo-advisor with no management fees.
What Are The Expected Returns Of Sofi Investing?
Sofi Invest has a historical average annual return of about 7% after accounting for inflation. It’s crucial to remember that each Robo has a unique investment approach that can affect profits. Investors make money with SoFi Invest by receiving dividends and returns from rising stock prices.
When SoFi Invest was established in 2011, its first mission was to assist customers in refinancing their student loans at reduced interest rates. SoFi Investing has now evolved into a full-service financial institution supplying credit cards and financial planning.
Sofi’s Investments numbers are impressive. They boast over 4 million members with over $50 billion in funded loans and $22 billion in debt paid off by members.
We have to admit, SoFi’s results speak for themselves and have been exceptional to date.
SoFi Investing Reviews
Users on Trustpilot, one of the best review sites, have left many positive reviews about SoFi Investing. Let’s mention some of them.
SoFi Investing Ranking
Below are some of SoFi Investing’s ratings:
|Google Play Store||4.1/5|
|The Apple App Store||4.8/5|
As your one-stop shop for all your financial needs, SoFi hopes to continue playing a significant role in investors’ lives.
SoFi Investing is the best place for investors seeking a low-fee platform that makes on-the-move investing possible.
Get started with SoFi Investing today!
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