How To Use SoFi App – Step By Step Mobile Tutorial

If you’re new to investing or just want a simple and user-friendly platform to manage your money, the SoFi app is a great place to start. In this detailed tutorial, we’ll walk you through every step on how to use SoFi app — from setting up a brokerage account, funding it, and trading stocks or ETFs, to navigating its main features. This guide is ideal for beginners and anyone curious about how to get started with mobile investing.

Getting Started: Creating a SoFi Account

Step 1: Sign Up for a New Account

To begin, download the SoFi app from the App Store or Google Play. Once installed:

1. Tap “New to SoFi? Sign up.”
2. Fill out your basic information:
   • First and last name
   • State of residence
   • Email address
   • Password
3. Agree to the terms and conditions and continue.

Step 2: Fill In Personal Details

To complete your account setup, you’ll need to provide additional personal and financial information:

• Home address
• Employment status
• Source of funds
• Annual income
• Citizenship status
• Date of birth
• Social Security Number (SSN)
• Phone number (you’ll receive a verification text code)

Once verified, the app will ask a few standard compliance questions:

• Whether you’re affiliated with a brokerage firm
• If you or a family member is a FINRA-registered employee
• If you own 10% or more of a public company

These are common disclosures across all brokerages. Select your responses and tap Next.

Step 3: Optional Account Features

SoFi offers two optional features to enhance your brokerage experience:

1. Brokerage Cash Sweep Program

Automatically transfers uninvested cash into interest-bearing accounts at partner banks. Your money remains accessible and is FDIC-insured.

2. Share Lending Program

Lends your shares to other investors (e.g., short sellers) in exchange for a portion of the interest earned. This may temporarily limit your voting rights on those shares.

You can opt into either or both programs, or skip them for now.

After reviewing and agreeing to the legal terms, your account is officially created and ready for use.

How To Fund Your SoFi Brokerage Account

Step 1: Connect a Bank

To fund your account:

1. Tap “Fund your account.”
2. Enter the amount you’d like to deposit.
3. Select “Manage bank accounts.” You can connect up to three bank accounts.

When connecting a new bank, you’ll be given four options:

• Connect a bank (recommended for ease and speed)
• Transfer assets
• Wire money
• Mail a check

Choose Connect a bank, which uses Plaid — a secure financial service that links your bank with SoFi.

Enter your phone number and verify it. Then select your banking institution (e.g., Capital One), log in, and authorize the connection. Once linked, you can immediately add funds to your account.

Step 2: Add Cash Through the Mobile App

To add funds through the app:

1. Log in with your email and password.
2. Use Face ID or Touch ID if enabled.
3. Tap “Invest” on the bottom menu.
4. Tap the blue “Trade” icon.
5. Select “Add Cash.”

If you’ve previously linked a bank, it should appear here. If not, tap “Link new account”, agree to terms, and follow the same steps using Plaid.

Once your account is connected:

• Enter the amount
• Slide to confirm
• Your balance should update instantly

You can link multiple banks and switch between them as needed.

How to Buy Stocks and ETFs on SoFi

Now that your account is funded, you’re ready to make your first investment.

Step 1: Find the Stock or ETF

1. On the app’s home screen, tap “Invest.”
2. Tap the blue “Trade” icon, then choose “Buy & Sell.”
3. Use the search bar to find a stock or ETF (e.g., Apple).

The app will display:

• Current stock price
• Market cap
• P/E ratio
• Dividend yield (if applicable)

Step 2: Buy Shares

Tap “Trade”, then choose “Buy.”

SoFi allows fractional investing, meaning you can buy a portion of a stock — starting from just $5.

You’ll see two purchase options:

• By shares
• By dollar amount

Input the desired amount (e.g., $5 of Apple stock), select the order type, and hit Review. Then slide to confirm.

Important Note on Pattern Day Trading

If you perform more than 4 trades within a 5-day period, SoFi will label your account as a Pattern Day Trader (PDT). If your account balance is under $25,000, you’ll be restricted from day trading. This won’t affect most long-term investors.

How to Sell Stocks and ETFs on SoFi

Selling is just as simple as buying:

1. Tap “Invest” from the home screen.
2. Scroll down to your portfolio and select the asset you want to sell.
3. Tap “Trade”, then “Sell.”
4. Choose whether to sell by:
   • Number of shares
   • Dollar amount
5. Review the order and slide to confirm.

You’ll see:

• Current market price
• Number of shares owned
• Estimated total value

Once confirmed, the funds from the sale will be returned to your account balance.

How To Use SoFi App – Final Thoughts

The SoFi app is an excellent platform for anyone looking to start investing in the stock market. Its clean design, fractional share options, and seamless bank connectivity make it especially appealing to beginners.

Here’s a quick recap of what we covered:

• How to create a SoFi account
• How to connect and fund your brokerage
• How to buy and sell stocks and ETFs
• How to navigate SoFi’s optional features like cash sweep and share lending

While there are some limitations (like the pattern day trader rule), they won’t affect most users who are focused on long-term investing.

With your account set up and your first investments made, you’re now on your way to growing your portfolio — one trade at a time.