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SoFi Invest Review 2020. Suitable for beginners and investors interested in zero-commission trading, concentrating on the united states market

SoFi Invest Review 2020. Suitable for beginners and investors interested in zero-commission trading, concentrating on the united states market

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Overview

SoFi, short for “Social Finance”, is just a fintech that is us-based launched last year. It first specialized in education loan refinancing, but has expanded into the broker room since 2018. SoFi is managed because of the United States Securities and Exchange Commission (SEC) and FINRA. SoFi spend is SoFi’s brand for zero-fee or discount brokerage services.

SoFi spend provides active and automated spending solutions. The previous means an account that is self-directed it is possible to trade shares, ETFs, and cryptocurrencies by yourself. By comparison, SoFi Invest investing that is automated a robo-advisory solution where SoFi spend handles your opportunities. In this review, we tested SoFi Invest active investing. View here when it comes to SoFi review that is robo-advisory.

SoFi spend is known as safe since it is regulated by top-tier authorities that are financial provides as much as $500,000 investor security (including a $250,000 limit for money) within the SIPC security scheme.

SoFi spend pros and cons

SoFi spend provides US that is commission-free stock ETF trading without withdrawal or inactivity charges.
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