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SoFi Invest® Promotions of 2024

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Cole Tretheway
Author: Cole Tretheway
Cole Tretheway
Cole Tretheway

Cole Tretheway is a full-time personal finance writer whose articles have been featured on Motley Fool Money and The Motley Fool. He has a degree in English with a Certificate in Professional and Technical Communication from California Polytechnic University, SLO.

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Fact Checked: Ashley Maready
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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page.

SoFi Invest® offers promotions to users who move investments to its platform. Below are its current promotions, including how much you could earn.

Sign-Up Bonus: Earn $5 to $1,000 of stock by signing up for a SoFi Active Investing brokerage account⁷

How you earn it: Open a SoFi Active Investing brokerage account. Within 30 days, fund the account with at least $25.

How you qualify: Only first-time SoFi Active Investing users are eligible.

Details: The stock amount you earn is random. You have about an 85% chance of earning $5. You have a 9.5% 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. You'll probably earn $5. The chance you'll earn $1,000 from this promo is approximately 3.5 times more likely than the chance you'll be struck by lightning in your lifetime.

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 Robo Investing account.

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. Your friend will get a $25 bonus.

How you qualify: You're eligible if you have a SoFi Invest® account.

Details: SoFi says you must have a personal relationship with referrals. The trading platform discourages mass-marketing of referral links. On the off chance you're a referral wizard, please note that you're capped at earning $10,000 in referral bonuses per year.

Offer expires: N/A

IRA Match Bonus: 1% match on all your SoFi IRA contributions and rollovers⁸

How you earn it: Make any contribution or rollover to your SoFi IRA.

How you qualify: You qualify if you have a SoFi Invest® IRA.

Details: Terms and conditions apply. Roll over a minimum of $20K to receive the 1% match offer. Matches on contributions are made up to the annual limits. Only offers made via ACH are eligible for the match. ACATs and wires are not included. If you're younger than 50, you can earn up to $50 in matched funds. Older contributors can earn up to $70. (These numbers are based on 2024 IRA contribution limits.)

Offer expires: N/A

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.

RELATED: SoFi Invest® Bank Promotions

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 Sign-Up Bonus is a neat perk. That said, the vast majority of new users will get $5 worth of stock at most. It's nice, but nothing worth writing home about.

If a friend is interested in SoFi Invest®, it's worth referring them and earning the Referral Bonus. SoFi Invest® is great for beginning investors and long-term investors. If SoFi suits your friend's needs, referring them is a win-win.

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 may choose to cancel the promo at any time. Acorns and Robinhood are two competitors that offer IRA matching as a feature.

Alternatives to Consider

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.

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FAQs

  • You get the SoFi Invest® Sign-Up Bonus within seven days of funding your account.

    You get your Referral Bonus within 10 business days of your friend meeting the requirements.

    You get your 1% IRA Match Bonus within 30 days of the last day of the month in which your deposit settles. So if it settles in September, you'll get your match within 30 days of the end of September.