SoFi Active Investing review

Founded

2011

San Francisco, CA

Customers

13.7M

Minimum deposit

$0 ($50 to begin SoFi Automated Investing)

Regulators

SEC · FINRA · SIPC

SIPC $500K

• BeginnersCleanest mobile UX for new investors (4.8★ iOS), $0 minimum, Stock Bits fractional from $5, IPO access with no minimum, and clear in-app education. The "one-app" feel beats juggling Fidelity + a bank.
• Options trading$0 base + $0 per contract is tied for cheapest in retail. Multi-leg defined-risk spreads supported (Level 2). No naked options or iron condors — for those, tastytrade or IBKR.
• Fractional sharesStock Bits cover ~4,000 stocks and ETFs from $5. Recurring auto-invest supported. Fidelity ($1 min, 7,000+) and Robinhood (~6,000) have broader universes.
• Retirement & IRAs1% standard IRA match across Traditional, Roth, and Rollover IRAs; 2% Plus boost Jan 22 – Apr 15, 2026. Account types limited to IRA + Rollover + SEP — no Solo 401(k) or HSA, so SoFi works best as a complement to Fidelity for self-employed savers.

PFOF: Accepts payment for order flow on equities; accepts PFOF on options. SoFi accepts PFOF; execution is via Apex Clearing. Apex publishes Rule 605/606 reports; SoFi reports ~98.13% NBBO+ execution on 100–499 share orders.

Effective interest rate by debit balance. Lower is better. Step-line — rate is constant within each tier.

• US stocks (NYSE/Nasdaq)

  Yes

• OTC / Pink Sheets / OTCQB / OTCQX

  No

• Fractional shares (Stock Bits)

  $5 minimum, ~4,000 stocks and ETFs

  Yes

• Options (single-leg + defined-risk spreads)

  Level 1–2 approval; no naked options, no iron condors

  Yes

• Mutual funds

  ~6,800 NTF funds

  Yes

• ETFs

  Including SoFi-branded ETFs (SoFi Select 500, Next 500, Web 3)

  Yes

• US Treasuries

  Only via bond ETFs

  No

• Corporate / muni bonds

  Only via bond ETFs

  No

• Forex

  No

• Futures

  No

• Crypto (direct)

  ~30 coins via SoFi Bank rails (relaunched Nov 2025); separate from SoFi Securities

  Yes

• International stocks

  US-listed only; ADRs with custody fees

  No

• IPO Investing

  $0 minimum; every active member eligible to submit IOIs pre-IPO

  Yes

• Pre-IPO / Private funds

  ARK Venture Fund and other interval funds ($500 minimum)

  Yes

• Pre-market trading

  8:00–9:30 a.m. ET, limit/stop only

  Yes

• After-hours trading

  4:00–8:00 p.m. ET

  Yes

• 24-hour overnight equity trading

  No

• Mobile

  SoFi Mobile

  4.8★ iOS
  • 4.8★ iOS, 4.1★ Android — clean beginner-first UX
  • Stock Bits fractional shares + recurring auto-invest
  • In-app crypto (SoFi Bank rails)
  • +1 more — see platform deep-dive
• Web

  SoFi Web

  • Mirrors mobile feature set
  • IPO Investing IOI portal
  • Mutual fund and ETF screeners (basic)

  No professional desktop platform

• Web

  SoFi Automated Investing (Robo)

  • 0.25% AUM advisory fee; $50 minimum to begin
  • Goal-based portfolios; automatic rebalancing
  • Uses SoFi ETFs as core holdings
• API

  Public retail API

  • Not available to retail customers

  No public algo / API access

Commission

$0

Fractional shares

Yes

Extended hours

Yes

Overnight (24/5)

No

Options

$0

OTC access

1/5 full, 2/5 limited

Short locate

none

OTC Markets organises non-exchange-listed securities into five tiers by disclosure quality. SoFi Active Investing’s coverage:

• OTCQXFull
• OTCQBLimited
• Pink CurrentLimited
• Pink LimitedNo
• Grey MarketNo

• 2026 Best Broker for IPO Investing — NerdWallet
• 2025 Best Broker for Beginners — Bankrate

1. Apr 2026product

   Galileo + FedNow integration for 24/7 instant transfers

2. Jan 22, 2026product

   2% IRA match boost begins (runs through April 15, 2026)

3. Dec 2025product

   Launched SoFiUSD stablecoin on Solana — first US bank-chartered consumer stablecoin

4. Nov 2025product

   SoFi Crypto relaunched — ~30 coins via SoFi Bank rails

5. Jun 25, 2025regulatory

   Re-entry into crypto announced (enabled by OCC interpretive letters 1183/1184)

6. Feb 11, 2025pricing

   SoFi Plus revamped ($10/mo or free with direct deposit until 3/30/2026)

Is SoFi Invest safe and SIPC-insured?

Yes. SoFi Securities LLC is a FINRA/SIPC member; SIPC covers up to $500,000 including $250,000 in cash. Clearing is outsourced to Apex Clearing.

Does SoFi charge per-contract options fees?

No — $0 base commission and $0 per contract on equity and ETF options. There is a $5 exercise/assignment fee, which is unusual and tilts toward closing positions before expiry.

Does SoFi offer crypto?

Yes — relaunched November 2025 after a 2023 suspension. ~30 coins available in-app via SoFi Bank rails (not the brokerage entity). SoFi was the first nationally chartered consumer bank to allow crypto directly inside its single banking app. SoFiUSD stablecoin launched on Solana in December 2025.

What is SoFi's margin rate?

Tiered and indexed to the upper-bound Target Fed Funds Rate plus a tier-specific markup. Advertised range 4.75%–9.50%. Entry tier (under $25K) is approximately 9.5% — uncompetitive vs. IBKR Pro's ~5.83% at the same tier.

Can I trade OTC or penny stocks on SoFi?

No. SoFi does not support OTC, Pink Sheets, or OTCQB/QX listings — a material gap vs. Fidelity, Schwab, IBKR, and Firstrade.

Does SoFi pay interest on uninvested cash?

The brokerage cash sweep yields ~0.01% APY — among the worst in the industry. To earn meaningful yield, move cash manually to SoFi Bank Savings (up to 3.80% APY with SoFi Plus or direct deposit). Transfers are not automated.

How does SoFi IPO Investing work?

Any SoFi Active Invest member can submit an Indication of Interest pre-IPO with no minimum. If allocated, you get pre-public-market shares. There is a $50 fee on the first sale within 120 days of an IPO and $5 on subsequent sales. This is the most democratized retail IPO access in the industry.

What is SoFi Plus and is it worth it?

$10/month (or free with qualifying direct deposit until March 30, 2026, paid-only afterward). Unlocks 1% recurring-deposit Invest match, 2% IRA boost (limited time), unlimited CFP sessions, 3.80% Savings APY, 10% credit-card cashback boost, and loan discounts. Worth it for members consolidating banking + invest + credit card; not worth it for invest-only users.

No restrictions on domestic penny stocks.

• 
  Charles Schwab (thinkorswim)

  $0 · Fractional
• 
  Fidelity

  $0 · Fractional
• 
  Interactive Brokers

  $0 (Lite) / per-share (Pro) · Fractional
• 
  Robinhood

  $0 · Fractional
• 
  E*TRADE (Morgan Stanley)

  $0 listed · No fractional
• 
  Webull

  $0 · Fractional