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SoFi Invest offers promotions to users who move investments to its platform. Below are its current promotions, including how much you could earn.
Brokerage Transfer Bonus: Earn $100 to $10,000 by transferring assets into SoFi Invest accounts
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Bottom Line
A clear standout for a modern investing experience, particularly for beginner and long-term investors. The ability to buy fractional shares, as well as the ability for everyday investors to participate in IPOs, bolsters our overall opinion.
Special Offer
For new accounts: Customer must fund their Active Invest account with at least $10 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%.
Get up to $1,000 in stock when you fund a new Active Invest account.
How you earn it: Transfer at least $5,000 from another brokerage firm into a SoFi Invest taxable brokerage or retirement account.
How you qualify: You qualify if SoFi Invest offers the security you're transferring. It's eligible for cash bonuses. However, you must leave your transferred assets on SoFi Invest for at least two years.
Details: The more you transfer, the bigger your cash bonus. Here's the breakdown:
Transfer Amount
Cash Bonus
$5,000-$24,999.99
$100
$25,000-$99,999
$200
$100,000-$249,999
$500
$250,000-$499,999
$750
$500,000-$999,999
$1,000
$1,000,000-$4,999,999
$2,500
$5,000,000 or more
$10,000
Data source: SoFi.
A typical outgoing transfer fee can cost anywhere from $75 to $100, depending on your original broker. That can eat into returns. SoFi Invest helps with this. If you transfer at least $5,000, it will cover up to $75 of ACAT transfer fees.
Offer expires: TBD
Sign-up Bonus: Earn $5 to $1,000 of stock by signing up for a SoFi Active Investing brokerage account
How you qualify: Only first-time SoFi Active Investing users are eligible. You must also fund the account with at least $25 within 30 days of opening a brokerage account.
Details: The stock amount you earn is random. You have about an 85% chance of earning $5. You have a 9% chance of earning $10, a 3% chance of earning $25, a 1.5% chance of earning $100, and a 0.028% chance of earning $1,000. In a nutshell, the vast majority of users will earn $5.
SoFi offers many brokerage account types. But only SoFi Active Investing accounts qualify for this promotion. SoFi doesn't give this bonus if you open a retirement or SoFi Automated Investing account.
One more thing: Though you have 30 days from opening to deposit $25, it takes up to five business days for funds to settle. To make sure you get your bonus, deposit money into your account at least a week before the deadline.
Offer expires: N/A
Referral Bonus: Earn $50 in stock by referring a friend to SoFi Invest
How you earn it: Refer friends to SoFi Invest. You can find your referral link in your SoFi Invest account. In the app, go to "Refer a Friend" to find your link. Once your friend opens a SoFi Invest account and funds it with at least $10, you'll get your $50 bonus. And your friend will get a $25 bonus.
How you qualify: You are eligible if you have a SoFi Invest account.
Details: SoFi says you must have a personal relationship with referrals. The platform discourages mass-marketing of referral links.
Offer expires: N/A
IRA Match Bonus: 1% match on all your SoFi IRA contributions
How you earn it: Make any contribution to your SoFi IRA.
How you qualify: You qualify if you have a SoFi Invest IRA. However, you must hold your IRA contributions in your account through Dec. 31, 2026, two years after this offer ends. Otherwise, SoFi may revoke your match.
Details: Only offers made via ACH are eligible for the match. ACATs, wires, and rollovers are not included.
Offer expires: Dec. 31, 2024.
What else should you know about SoFi Invest bonuses?
Online brokerages frequently update their promotions; consider checking for updates periodically. We track the latest SoFi Invest promotions here.
Are SoFi Invest promotions worth it?
If you're choosing between SoFi Invest and another broker, qualifying for one of SoFi Invest's promotions might tip the scales. SoFi Invest happens to be one of the best free stock trading apps out there. It's comparable to low-cost alternatives like Robinhood and Fidelity.
The SoFi Brokerage Transfer Bonus is generous compared to similar promotions. Few brokers offer up to $10,000 on account transfers.
The SoFi Sign-Up Bonus is a neat perk. That said, the vast majority of new users will get at most $5 worth of stock. It's nice, but nothing worth writing home about.
If SoFi Invest suits a friend, it's worth referring them and earning the Referral Bonus. SoFi Invest is a great for beginning investors and long-term investors.
The IRA Match Bonus is a rare perk. If you invest using an IRA, it's worth checking out. Unlike some competitors, SoFi offers the 1% match as a limited-time promo, not a feature. SoFi might not extend the promotion beyond 2024. Another broker with IRA matching is Robinhood.
We recommend comparing brokerage options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of our best trading platforms of 2024.
Account
Fees
Account Minimum
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
$0 for stocks, ETFs, and options; $5 monthly for Robinhood Gold
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
SoFi Invest doesn't accept transfers of cryptocurrencies. Nor does it accept stocks that trade on OTC, Pink Sheets, or most low-priced securities.
You get the SoFi Invest Transfer Bonus within 14 days of the month's end when assets settle. If your assets settle in July, you'll get your bonus by Aug. 14.
You get the SoFi Invest Sign-up Bonus within seven days of funding your account.
You get your 1% IRA match within 30 days of the last day of the month in which your deposit settles. So if it settles in July, you'll get your match within 30 days of the end of July.
You can earn the Brokerage Transfer Bonus as many times as you want while the promotion lasts. SoFi Invest calculates this bonus based on how much you transfer each calendar month; deposits made in Month One don't count toward deposits made in Month Two. If you transfer a net total of $5,000 during January, you'll earn $50. If you then transfer a net total of $15,000 in February, you'll earn $50 again. But if you transfer $20,000 in either January or February, you'll earn $125.
Likewise, bonuses are split per account you deposit into. When calculating bonus earnings, SoFi considers your taxable account separately from your IRA .
You can only earn the SoFi Invest Sign-up Bonus once.
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Robinhood disclosure
All investments involve risk and loss of principal is possible.
Securities are offered through Robinhood Financial LLC, member FINRA/SIPC. Cryptocurrency services are offered through an account with Robinhood Crypto, LLC (NMLS ID 1702840). Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Cryptocurrency held through Robinhood Crypto is not FDIC insured or SIPC protected. For more information see the Robinhood Crypto Risk Disclosure.
Trades of stocks, ETFs and options are commission-free at Robinhood Financial LLC. Other fees may apply. Please see Robinhood Financial’s Fee Schedule to learn more.
Fractional shares are illiquid outside of Robinhood and are not transferable. Not all securities available through Robinhood are eligible for fractional share orders. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see the Fractional Shares section of our Customer Agreement.
Robinhood Gold is an account offering premium services available for a $5 monthly fee. Not all investors will be eligible to trade on Margin. Margin investing involves the risk of greater investment losses. Additional interest charges may apply depending on the amount of margin used. Bigger Instant Deposits are only available if your Instant Deposits status is in good standing.
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