2156 reviews
A modern all-in-one financial platform combining commission-free investing with banking, loans, and complimentary access to financial advisors.
SoFi offers two main investing options: Active Invest for self-directed trading and Automated Invest for hands-off robo-advisor management.
Active Invest lets you buy individual stocks, ETFs, options, and even IPOs with $0 commissions and a $1 minimum. You control every trade.
Automated Invest charges 0.25% annually and builds a diversified ETF portfolio based on your risk tolerance and goals. It includes automatic rebalancing and dividend reinvestment.
SoFi supports dividend reinvestment in both Active and Automated Invest accounts. Dividends can be automatically reinvested into fractional shares of the paying security.
In Automated Invest, DRIP is built-in—dividends are reinvested as part of the portfolio rebalancing strategy, keeping your allocation on target.
In Active Invest, you can enable DRIP per security, choosing which dividends to reinvest and which to take as cash.
One of SoFi's standout features is complimentary access to certified financial planners. Members can schedule unlimited 30-minute consultations at no additional cost.
This is genuinely valuable—financial advisor consultations typically cost $100-300 per hour elsewhere. You can discuss portfolio strategy, retirement planning, or general financial questions.
Advisors can help you understand dividend investing strategies, review your portfolio allocation, and make recommendations based on your goals.
SoFi is more than just a brokerage. You can manage checking accounts, savings (with competitive APY), personal loans, mortgages, student loans, insurance, and credit cards—all in one app.
This integration is convenient if you want to simplify your financial life. Your investment account sits alongside your banking, making transfers instant.
The downside is that SoFi may not be best-in-class at any single product, but the convenience of consolidation appeals to many.
SoFi's trading platform is basic compared to Fidelity, Schwab, or even Webull. You won't find advanced charting, sophisticated screeners, or detailed research reports.
The robo-advisor lacks tax-loss harvesting, a feature offered by competitors like Betterment that can offset advisory fees through tax savings.
Active Invest doesn't offer mutual funds or individual bonds—only stocks, ETFs, and options. This limits diversification options for some strategies.
SoFi offers commission-free options trading with no per-contract fees—a significant cost advantage over brokers charging $0.50-0.65 per contract.
However, there's a $5 fee to exercise or assign options contracts. If options expire worthless, you pay nothing beyond the premium.
The options interface is straightforward but lacks the advanced analysis tools found on platforms like thinkorswim or Power E*TRADE.
Transparent breakdown of all fees you might encounter.
| Fee Type | Cost |
|---|---|
| Stock & ETF Trades | $0 |
| Options Trades | $0 (no contract fee) |
| Options Exercise/Assignment | $5 |
| Account Minimum (Active) | $1 |
| Account Minimum (Automated) | $50 |
| Automated Investing Fee | 0.25% annually |
| Inactivity Fee | $25 (if no login for 6 months) |
| Dividend Reinvestment (DRIP) | Free |
| Account Transfer Out (ACAT) | $75 |
| Financial Advisor Consultations | Free |
$1 minimum, free advisor access, and simple interface make SoFi ideal for new investors.
Manage banking, investing, loans, and insurance in a single app for maximum convenience.
Automated Investing at 0.25% fee handles portfolio management and dividend reinvestment automatically.
SoFi Invest is an excellent entry point for new dividend investors who value simplicity and guidance. The $1 minimum, free financial advisor access, and all-in-one financial platform make it easy to get started. The 0.25% robo-advisor fee is competitive for automated dividend reinvestment and rebalancing. However, serious dividend investors will eventually want more advanced research and screening tools. SoFi works well as a starting platform or convenient consolidation, but power users may outgrow it.
Compare All PlatformsSee how SoFi Invest stacks up against the competition
Much better research and tools, same $0 commissions, more established.
Read Review →Better robo-advisor with tax-loss harvesting, but no active trading.
Read Review →Superior automation with pie-based portfolios and dynamic rebalancing.
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