Deal has expired, view more SoFi Invest deals by clicking here.
Update 8/15/19: Deal is back, must invest $10+. Valid until August 30th, 2019.
The Offer
- SoFi is offering a $25 bonus when you open a new SoFi Securities LLC active brokerage account and fund it with at least $10. $25 bonus will be in the form of a fractional share in a company
The Fine Print
- To receive the offer, you must: open a new SoFi Securities LLC active brokerage account through the signup link you were given, and add at least $1 to your brokerage account.
- The offer only applies to new active brokerage accounts.
- The offer is limited to one per person.
- The offer expires on August 12th, 2019.
- Once conditions are met and account is opened, you will receive $25 which will be paid in a fractional share (or fractional shares) in a publicly traded company.
- The number of fractional shares delivered for the bonus will be determined based on the execution price at which SoFi Securities acquires the shares.
- Please note, given the Welcome Bonus will be paid in the form of a marketable security, the dollar value of the Bonus will change as the price of that security changes, which will result in a change in value of the Bonus provided.
- SoFi reserves the right to change the form of consideration used to pay the Welcome Bonus at any time without advance notice.
- Bonus amounts of $600 or greater in a single calendar year may be reported to the Internal Revenue Service (IRS) as miscellaneous income to the recipient on Form 1099-MISC in the year received by applicable law.
- Recipient is responsible for any applicable federal, state or local taxes associated with receiving the bonus offer, consult your tax advisor to determine applicable tax consequences.
- SoFi reserves the right to change or terminate the offer at any time or without notice.
Our Verdict
Normally you can get a bonus of $25 when investing $25+ if you use a SoFi referral link, although SoFi is strict on not allowing these to be publicly posted. This bonus is better for the person signing up as a deposit of only $1 is required. For a lot of people this bonus of $25 won’t be worth doing just due to the hassle and tax implication, but it’s still an easy $25 so we will be adding this to our list of the best brokerage bonuses.
Hat tip to reader Nate B
View Comments (63)
Does anyone know how long this bonus takes to post after funding the account?
They just upped this to $50 for depositing $25.
yes
When you get referred to the program, can the referrer see the name of the referree?
No - at least with the SoFi Money referral bonus, this is all the referrer sees:
https://i.imgur.com/zDH0inc.png
Do i need to use a smart phone to sign up or cash out? My phone phone is slightly outdated and if i have to use an app to use, i'll be stuck.
I'm looking at the $50 promo. Is it cash or a gift card payout?
No, you can use the website.
The $50 promo for SoFi Money (which I assume you're referring to, since the SoFi Invest money bonus is for $25) is paid as a deposit to your SoFi Money account.
Here's the post about that for reference: https://www.doctorofcredit.com/sofi-money-2-25-account-25-referral-bonus-for-both-members/
Do i deposit the money into the account and let it sit there or do i need to invest it into something then cash out when the bonus is credited?
Everything I see says you must Signup and Fund a SoFi Active Investing Account. (In other words, do not choose automated investing.) Doesn't say you have to invest it. The dollar amount of required funding depends on the promo or referral you pick.
I signed up yesterday, linked NFCU account via login, and my funding arrived today.
I think i used your sign up link but sofi lost the connection. I need your email to credit your account. - along with my account
Please contact me via my website. (click my name) Thanks.
I sent yea an email. Let me know if you don't get it. I thought the $50 promo posted 3 months after i opened account.
Got it, reply sent. I wish you luck, @guest_849108!
I received the bonuses for the Invest and Crypto accounts a few days ago, but I cannot withdraw the money. I think you're forced to buy a security/crypto first, and then you can sell it. Although obviously then you incur short-term cap gains tax, so I guess I will be keeping SoFi for a while.
Would that only be true if the market value increased and then you sold it?
@will Not sure why anyone would do this, when you can earn $50 for joining SoFi Money (not Invest) via a referral? From what I can tell, the bonuses cannot be stacked.
In the Verdict section, are you sure about the public posting part? I thought Varo was the only one picky about referral links.
@guest_798784 they do stack- I’ve done both in the past. Not sure what the situation is with sharing the links either
I am looking at this promo and every time I get the feeling I am not going to get credit for it since I already have a SoFi login. It takes you to the investing page, but makes no mention of the promo at that point. Tried DoC's link, https://www.sofi.com/invest/active-promo/, and Drop's offer and I give it about a 5% chance of working.
I opened SoFi Money account 6/20 and received the bonus the same day.
I opened the SoFi Active Investing account (through referral) 6/30/2019 and received the bonus 7/13/2019.
I used the same login and was concerned it wasn't going to track because I followed the link and then signed into my account before applying, but it worked fine. I did email them after 10 days but they assured me I just need to wait and it would post.
+1 to @guest_798778 and @guest_793200.
I too received $25 in my SoFi Invest account after receiving $50 in my SoFi Money account. DPs are correct, these bonuses can be stacked.
So I didn't realize before there is a third to collect so I got the bonus from SoFi money, then the bonus for opening the SoFi Active Investing account and now for depositing more money in the account should receive $25 in fractional shares as well. @guest_798784 I also got the email that it had arrived but it still does not show in the account. Weird.
I emailed SoFi today and received this response, "We sincerely apologize for the confusing emails offering $25 in Stock Bits for signing up and then confirming you received them. The emails were sent in error due to some internal system changes, but we value your SoFi membership and will honor the $25 bonus for you! Please allow us 7-10 days to apply the bonus to your account." Looks like you may need to send them an email to make sure you still receive this bonus.
Thanks for the input. In for one. Have no clue which, if any, will track.
Got an e-mail today... Subj: Here's your $25 Stock Bit.
Says to login to my account to view it. When I login, nothing... other than my account funding. Maybe they hit send before they did the transaction.... Guess I will know by Monday.
Hoping that I get the Drop points more than the $25 anyway. but Drop offer says to allow 60 days from funding.
@guest_798784 I guess I don't understand, How are you able to use both drop link and this 25$ link when it says sign up and open an account from each link?. PS I thought Gidget was your wife ;)
Gidget is my wife.
Because I already had a SoFi Money login, seemed like no link was taking me directly to the promo signup. So, I requested the link in Drop, it e-mailed it to me, then I used the Facebook link. I deposited $100... and hoping for the best. I have no clue if any of it stacked.
LOL... good idea on the wife part. However, the DoC reader former known as Alys Holden is Gidget.
Jeff did you end up getting it?
No. Not sure what is going on with the $25. I will wait and see if Drop points post and start asking questions then if they don't.
So Gidget, you mean you already had a SoFi account and got a previous bonus? And applying again for another bonus. Did it work?
I mean I already had a SoFi Money account, and trying to get the SoFi Invest bonus. They are under the same login, but technically separate accounts. I do not know yet if it worked, as I did not do the fractional share offer... I am hoping to collect on Drop $50, and/or the $25 in the link I mentioned previously.
Where are those links you mentioned? Thanks Gidget
- Drop link is in the App - you can e-mail it to yourself from the app.
- Doc's link is in the article above (direct link to offer).
- The other $25 link I mentioned here: https://www.doctorofcredit.com/sofi-invest-25-bonus-when-you-invest-1/#comment-798841 Someone said it came from FB.
- And, then there are referral links you can from a friend.
Each are slightly different. Payout delay, amount of funding, etc.
I have no clue if any will stack, or even count period. I suspect I will be contacting them to get the $50 in points from Drop.
P.S. My name is Gadget.... But there is a Gidget running around here too.
So are they strict with sharing the sofi invest referral but not with the Sofi Money referral?
Can it be a very small reward for providing SSN to another company?
I just make the assumption that my SSN is already listed on some onion pastebin list, since it probably is. As they say..."mo' worries, mo' problems"
it is
It seems that they might have extended it to August 30th?
It changed to state you have to fund the account with at least $10, though $1 still remains in the terms and conditions.
https://www.sofi.com/invest/fractional-shares-promo/?refer=2775-2462770%2Fcampaign%3DMRKT_PAID-SOCIAL_JP071619%7CActiveInvesting%7CProspecting%7CWebsiteConversions%7CStockBitsIncentive_LAL10%25-InvestMembers_INV071619004S&utm_source=MRKT_FACEBOOK&utm_medium=PAID-SOCIAL&utm_campaign=MRKT_PAID-SOCIAL_JP071619%7CActiveInvesting%7CProspecting%7CWebsiteConversions%7CStockBitsIncentive&utm_content=INV071619004S
For anyone else wondering about the bonus posting...
After signing up (Aug 3) and not getting bonus for a few days, I contacted SoFi. They said it takes 7-10 days for the bonus to post. I'll report back when it posts.
Looks like mine just posted, but I did have to contact them after the 10 days was up as Rex said.
Yep, they said same to me
It took 14 days for the bonus to post for me after signing up via referral.
Drop has a $50 offer, if you value a $50 gift card more than $25 of stock. However, the Drop offer requires a $100 investment vs. $1 here.