How Do I Buy Stocks on SoFi?

SoFi provides a platform for investing in stocks to help you build wealth. So, learning how to buy stock on the platform is well worth your time and effort. The SoFi investing platform allows investors to choose between a wide range of fractional shares, ETFs, or stocks.

This article can help you learn how to buy stocks on the SoFi investment platform. It also provides you with important information every investor should know about.

Buying Company Shares

When buying stock shares, investors basically are buying into partial business ownership. No matter how small a percentage you purchase in stocks, you become part owner of the company. Stocks are also known as equities since investors who buy stocks in a company own equity in that business.

Units of Stocks

Stocks partitioned or divided into shares are units of stock. Companies known as publicly traded companies, determine how many units of stock to sell to the public. Exchange-traded funds and mutual funds are also divided into shares that are publicly sold to investors. As an investor, you decide how many shares you would like to purchase.

Before Buying Stocks

It's easy to buy stocks with SoFi. But before investing your hard-earned cash, it's a good idea to first do some research, check the options available to you, and make wise decisions. There are several important things to do and know before buying stocks on SoFi. At first, this may all seem overwhelming, but you will learn the ropes as you go.

Decide What to Buy

Start by determining whether to buy shares of funds like exchange-traded funds (ETFs). or individual stocks.

Determine the Type of Account You Want To Open

You basically have two options to choose from. You can either open a general investing account, also referred to as a brokerage account, or a retirement account specifically for retirement.

Choose Which Type of Brokerage Firm To Use

There are many types of brokerage firms available to open an account with. Options to choose from are low-cost brokerage firms, full-service brokerage firms or online trading platforms, like SoFi Invest. SoFi Invest is a great place to start, whether you are new to trading or have been in the game for a while. Enjoy no-fee trades, no minimums and no hidden fees. Also, with SoFi you can buy partial or fractional shares right from your phone.

Steps To Buy Stocks

Here are the steps to buy stocks on the SoFi mobile app:

Log in to your account and click the "Invest" icon.
Navigate to the trade screen by either clicking security in your watch list or searching for security by company name or symbol. After locating the security, click on the symbol or name and the trade screen will display the security details including the price.
Click "Buy."
Enter the number of dollars you wish to invest or the number of shares to buy.
Click "Review."
Review the information and, if it is correct, click "Buy" to complete the trade.

Contact SoFi

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