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How to Open a SoFi Invest Account (2026): Step-by-Step Guide, Fees, IRA Match and Is It Worth It?
To open a SoFi Invest account: 1. Download the SoFi app or go to sofi.com and choose Invest. 2. Pick an account: Active Investing (you choose stocks and ETFs), Automated Investing (a robo-advisor) or a Roth/Traditional IRA. 3. Enter your name, address, date of birth, Social Security number and employment details. 4. Answer the investment-profile questions and agree to the account terms. 5. Fund by ACH or from a SoFi checking account. 6. Place your first trade. SoFi charges $0 commissions on US stocks and ETFs, has no account minimum, offers fractional shares and pays a 1% IRA match on eligible contributions. Most people finish in about 10 minutes.
What SoFi Invest is
SoFi started in student loans and is now a full online bank. SoFi Invest is its brokerage arm, built into the same app as SoFi checking, savings and loans. If you already bank with SoFi, it's the easiest way to start investing without opening a separate account elsewhere.
SoFi offers three ways to invest:
| Account | What it is | Best for |
|---|---|---|
| Active Investing | You choose stocks and ETFs, with fractional shares | DIY investors |
| Automated Investing | A robo-advisor builds and rebalances a portfolio | Hands-off investors |
| Retirement (IRA) | Roth, Traditional and SEP IRAs, active or automated | Retirement savers |
What it costs
- US stocks and ETFs: $0 commissions.
- Account minimum: none.
- Fractional shares: yes, from small dollar amounts.
- Automated Investing: reviewers report no advisory fee, but you pay the expense ratios of the ETFs it uses.
- Uninvested brokerage cash: earns very little. Keep spare cash in SoFi savings instead.
Check SoFi's current fee schedule before opening; pricing and promotions change.
Step-by-step: how to open a SoFi Invest account
Before you start, have ready: your Social Security number, a US address, date of birth, employment details, and bank login (or a SoFi checking account) for funding.
Step 1: Download the app
Get the SoFi app for iPhone or Android, or go to sofi.com. If you already have a SoFi account, log in; your details carry over.
Step 2: Choose Invest and pick an account type
Tap Invest, then choose Active Investing, Automated Investing or Retirement. You can open more than one; many people start with a Roth IRA and a taxable account. Not sure which IRA? Compare Roth vs Traditional IRA.
Step 3: Enter your personal details
US brokers are required to verify your identity. You'll enter your name, address, date of birth, SSN, citizenship and employment.
Step 4: Answer the investor profile questions
SoFi asks about your income, net worth, investment experience and goals. Answer honestly; these determine which features (such as options) you can access.
Step 5: Review and agree
Read the customer agreement and disclosures, then submit. Approval is often instant. If SoFi needs more verification, it may ask for a photo ID.
Step 6: Fund the account
Link a bank by ACH or transfer instantly from SoFi checking. To qualify for the IRA match, contributions generally need to come by ACH or from a SoFi bank account.
Step 7: Make your first investment
Search for a stock or ETF, enter a dollar amount or number of shares, and choose a market or limit order. New to order types? See market vs limit orders.
The SoFi IRA match
SoFi pays a 1% match on eligible IRA contributions and rollovers. On the 2026 IRA limit of $7,500, that's about $75. Things to know:
- The match vests over time; close the IRA too early and you can lose it.
- Promotional higher matches (such as a 2% match earlier in 2026 for some members) come and go.
- Robinhood offers up to 3% with its paid Gold plan (our comparison).
Pros and cons
Pros
- $0 commissions and no minimum
- Banking and investing in one app
- Robo-advisor option
- 1% IRA match
Cons
- Basic research and charting
- Low yield on brokerage cash
- No mutual fund marketplace
- Fewer advanced trading features than specialist brokers
Is SoFi Invest safe?
SoFi Invest accounts are held through SoFi Securities LLC, a FINRA-registered broker-dealer and SIPC member. SIPC covers up to $500,000 per customer (including $250,000 cash) if the broker fails. You can check the firm on FINRA BrokerCheck.
How SoFi compares
| SoFi Invest | Fidelity | Robinhood | |
|---|---|---|---|
| Stock/ETF commissions | $0 | $0 | $0 |
| IRA match | 1% | None | 1% (3% with Gold) |
| Mutual funds | Limited | Thousands | None |
| Robo-advisor | Yes | Yes | Yes |
| Banking in same app | Yes | Cash management | Yes |
See best Roth IRA brokers for more options, and our report on SoFi's latest earnings for the company's business.
The bottom line
SoFi Invest is a solid, simple choice if you already bank with SoFi or want everything in one app. Opening an account takes about 10 minutes, there's no minimum, and the IRA match is a small bonus. If you want deep research, mutual funds or advanced trading, Fidelity, Schwab or Interactive Brokers are stronger.
This guide is educational and not a recommendation. Fees, match terms and features change; confirm on SoFi's site before you open an account.
Frequently asked questions
How long does it take to open a SoFi Invest account?
Most people can apply in about 10 minutes in the app. Approval is often instant, though some applications need extra identity verification that can take a day or two.
Does SoFi Invest have a minimum deposit?
No. SoFi has no account minimum, and fractional shares let you invest small amounts, starting from about $5 per stock or ETF.
What is the SoFi IRA match?
SoFi matches 1% of eligible IRA contributions and rollovers. On the 2026 IRA limit of $7,500, that's about $75. The match has vesting and holding rules, so check SoFi's current terms before relying on it.
Is SoFi Invest safe?
SoFi Invest accounts are held through SoFi Securities, a FINRA-registered broker-dealer and SIPC member. SIPC protects up to $500,000 per customer, including $250,000 for cash, if the broker fails. It does not protect against market losses.
Is SoFi Invest good for beginners?
Yes, especially if you already bank with SoFi. The app is simple, there are no commissions or minimums, and the robo-advisor option builds a portfolio for you. Advanced traders may find its research and tools limited.
What are the downsides of SoFi Invest?
Research tools are basic, uninvested cash in the brokerage account earns very little unless you move it to SoFi's savings, there's no mutual fund marketplace like Fidelity's, and options and advanced order types are more limited than at specialist brokers.
Primary sources
Data & disclaimer: This article is for educational purposes only and is not financial or investment advice. Figures reflect data available as of Nov 4, 2026, and conditions change — always confirm current pricing, rates and rules with the provider before you act. Written by Elizabeta Dimoska. See our editorial standards and disclosure.
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