SoFi Invest; Shaking up the Broker Marketplace

Last year some of you may have read my post about The Best Checking Account in 2019. SoFi took the award due to their great interface, customer service, no fee withdrawals from ANY ATM, and much more.

This time around I have to tell everyone about SoFi Invest. Like many other brokers now, SoFi Invest offers no fee investments in Stocks, ETFs, Cryptocurrencies and more. Not only that, but instead of a “free stock” referral offer that typically results in a referral bonus of $5-$10, Sofi will drop $50 straight into your account if you join through my referral link and fund the account with $1000 or more.

The Sofi Invest Advantage

Social: SoFi Invest offers a lot of features that aren’t necessarily common on other brokers. First off, the platform is very social if you want it to be. You can follow other investors and what trades they are making as well as check out the leaderboard for which investor portfolios have been most successful.

Simple: The SoFi Invest interface is one of the easiest broker interfaces I’ve seen. If you want to pick individual stocks, they make that easy. If you want to buy ETFs (Baskets of stocks typically around a similar theme) they make that diversification extremely easy as well.

Flexible: SoFi wants you to invest on your terms. You can even buy fractional shares if you want to invest in a company with a share price that would otherwise be too high. The platform also is set up for recurring investments should you want to get on a consistent investment plan and is open to alternative asset classes like Cryptocurrency.

Shortfalls

In-Depth Research: The only true shortfall that I’ve seen on the SoFi Invest platform is the lack of in-depth research providers like Morningstar that you can find on platforms such as Merrill Edge.

SoFi is built around ease and simplicity, so they fall short on having in-depth resources that would be for those looking to put hours of research into their stock picks. That being said, nowadays anyone who wants to do that sort of research can access many resources online and conduct the research outside of the SoFi platform.

Solid Referral Bonus

I am always on the look out for ways that I can help my network get some quick cash and this might be one of the easiest $50 bonuses I’ve ever seen.

If you are even moderately interested in SoFi after reading this post and are looking to invest, get the easy 50 bucks through this link. You can always change to a different broker if you don’t like it, AND be $50 richer.

2020 has been a crazy year, so I apologize for not creating as much content here. I will try to bring you all more opportunities like this one as well as more educational content!

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