That’s an increasingly attractive option as the market has led to sky-high stock prices, and it offers new investors a cost-effective way to build a diversified portfolio. SoFi Active Investing has attractive features for new investors: commission-free stock and ETF trades, no account minimum, free financial counseling and cutting-edge offerings including fractional shares and cryptocurrency. Margin rates As of August 2020, SoFi Active Investing does not offer margin investing. SoFi Invest is an online broker offering zero-commission trading along with robo-advisory features. Disclaimer: NerdWallet strives to keep its information accurate and up to date. SoFi’s free management is attractive compared with other robo-advisors that charge a management fee of 0.25% or more. About SoFi Invest. In this review, we tested SoFi Invest active investing. No account minimum: While, of course, you’ll need cash to trade, SoFi has no account minimum to open your account and begin buying and selling stocks and ETFs. All SoFi clients have unlimited access to the company's financial advisors at no extra charge to help with long-term financial strategy. Start by signing up for a brokerage account at your preferred brokerage from the list above. Prevent identity theft, protect your credit, The difference between term and whole life insurance, How medical conditions affect your life insurance rate. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. SoFi stands out here. If you already have your student loans or a mortgage with SoFi, or are planning on taking out a loan, extending your relationship with the company could be worth something extra to you. SoFi Automated Investing charges $75 for closing an account. Email and chat support. If you have more than $10,000 to invest or aren't a current SoFi borrower, you'll have to pay a very competitive rate: 0.25% per year. Free online resources, including historical data and stock performance, as well as webinars and live events. Examples are hypothetical, and we encourage you to seek personalized advice from qualified professionals regarding specific investment issues. NerdWallet's ratings are determined by our editorial team. We’ve been testing out SoFi review for the past couple months and here are a few highlights: Sign up entirely online; Sleek and simple mobile app; Purchase fractional shares, or “bits” of a stock; $1 minimum balance requirement; Zero stock and ETF trading fees The lender SoFi is a relative newcomer to the robo-advisor industry, but in many respects competes — and even beats —  top players. SoFi, a FinTech unicorn from the U.S. recently acquired Hong Kong’s homegrown online securities firm, 8 Securities – SoFi subsequently launched a new securities trading app called SoFi Hong Kong (“SoFi HK”).. We believe everyone should be able to make financial decisions with confidence. Plus the app is super simple to use and easy to understand. All financial products, shopping products and services are presented without warranty. Nothing stopping you. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. Advisors are certified financial planners with the Series 65 designation (or similar), which requires them to operate in your best interest. career counseling plus loan discounts with qualifying deposit, Get more smart money moves — straight to your inbox. charge 0.25% annually. SoFi Automated Investing (formerly known as SoFi Wealth) charges no advisory or administrative fees and offers access to low-cost exchange-traded funds. NerdWallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances. SoFi Active Investing was among the first brokerages to offer fractional shares — buying a piece of a share rather than shelling out the full share price. NerdWallet strives to keep its information accurate and up to date. Portfolios are automatically rebalanced if there's a 5% drift for any security. Active Investing – This SoFi stock investing platform allows you to buy shares of stock or even partial shares and get started investing on your own, for free. Active trading and automated investing are the two types of trading they accommodate trying to appeal to both traders and investors with fractional shares purchases, no fees and a low $100 minimum account balance. Our opinions are our own. 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