SoFi Invest minimum deposit

Are you looking to open an account at SoFi Invest, but have only limited funds to invest? Wondering whether SoFi Invest requires a minimum deposit to start trading?

The good news is that SoFi Invest has no minimum deposit requirement, so you can easily start trading with as little money as you wish.

No minimum deposit at SoFi Invest makes it easy to start trading

No minimum deposit at [Broker name] makes it easy to start trading

Adam Nasli

Trading • Safety • Market Analysis

I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.

Learn about our methodology

Adam Nasli

Trading • Safety • Market Analysis

Together with my brokerage analyst colleagues, I have thoroughly tested the services of SoFi Invest by opening a real-money account. Here's what you need to know about depositing at SoFi Invest as of December 2024:

• The minimum deposit at SoFi Invest is $0 - a great feature.
• The only available base currency is USD.
• You can only deposit your funds via bank transfer but there's no deposit fee.

• Depositing money at SoFi Invest is an easy process.

• For detailed conditions, explore our comprehensive SoFi Invest review.

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Once you have decided to open an account at SoFi Invest and completed both the registration and verification process, you need to fund your account to be able to begin trading.

At SoFi Invest, the minimum deposit is $0. This means that you can deposit as little money as you wish.

Brokers that don't require a minimum deposit do so to encourage people to try their services without requiring a large initial commitment. Many brokers no longer require a minimum deposit nowadays; so if you want to compare SoFi Invest and its rivals along other criteria, you can do so using our broker comparison tool.

So what if you made a deposit but decide later that you want to switch brokers and invest your money elsewhere? No worries - you can always opt out and withdraw your funds. All you need to keep in mind are applicable withdrawal fees and withdrawal times.

At SoFi Invest, there are no withdrawal fees and it usually takes 2 days to receive your funds; though sometimes withdrawal might take a bit longer, depending on the method you use.

At SoFi Invest, the only available currency is USD. If possible, try to deposit money to your brokerage account in USD.

Why is that important? If you fund your trading account in the same currency as your bank account, you won't have to pay a conversion fee. Conversion fees apply if the bank account or card you're using for depositing is denominated in a different currency than your brokerage account.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank.

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At SoFi Invest, the only available option to deposit money to your account is via bank transfer.

SoFi Invest charges no deposit fees for bank transfers. This is great because the broker won't deduct anything from your deposits, and you only have to calculate with the costs charged by your bank or other third-party financial service you send the money with.

There is also a difference in typical transfer times for various deposit methods. Credit/debit card and e-wallet transfers are usually instant, but bank transfers may take 2-3 business days to arrive.

Imagine you're closely monitoring financial markets and spot a good trading opportunity you want to act upon right away. But what if there's not enough money in your broker account? In such cases, instant deposit methods like debit/credit card or electronic wallet transfers can come in handy. These can help you replenish your broker account immediately and react to market movements quickly and effectively. If this is important to you, consider opening an account with a broker that accepts instant deposit methods such as cards or e-wallets.

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Making an initial deposit to your brokerage account can sound like a difficult task, but actually it's fairly easy. Just follow our step-by-step guide for depositing money and shortly you'll be ready to start trading:

• Log in to SoFi Invest's client area
• Look for the 'Deposit' or 'Funding' menu
• Choose your funding method
• Enter the amount to be deposited and other necessary details for the transaction
• Double-check if payment details are correct
• If all looks OK, click to submit your deposit request

If you get stuck during the process, you can always reach out to SoFi Invest's customer support. At SoFi Invest, customer support can be reached via phone and live chat. Alternatively, you can drop a message on our Forum.

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For comprehensive insights into trading conditions, costs and overall service quality at SoFi Invest, turn to BrokerChooser's SoFi Invest review for 2024. Our analysis is based on nearly 600 individual data points as well as first-hand experience. We analyze brokers by opening a live account and executing trades on their platforms using real money, which helps us understand and evaluate the full spectrum of their services.

If you want to explore the best alternatives for SoFi Invest in your country, head over to our Compare Broker tool, where you can compare brokers by filtering for various criteria including minimum deposits, fees, tradable products and more.