IPO INVESTING
Get in on the IPO action
at IPO prices.
Active Investing members can participate in IPO(s)
before they trade on an exchange.
Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement.
Don’t have SoFi Active Invest? Open an account, subscribe to notifications, and we’ll keep you in-the-know on all things IPO invest related—including offering types, expected dates and prices, and more.
Based on SoFi Members. This claim may not be representative of the experience of all other customers. | Updated: 11/7/2024
Here’s how it all works:
See what IPO(s) are live!
Any SoFi member with an Active Investing account is eligible to participate with no minimums.
Submit an indication of interest.
Select the IPOs you’d like to participate in and submit an indication of interest (IOI).
Confirm your buy order.
After your IOI is submitted, you’ll be notified to confirm your buy order to secure your shares when the transaction settles.
IPO investing—now
for the rest of us.
Traditionally, access to IPOs before they're traded on the public market has been reserved for high net worth individuals. Now SoFi members can participate in IPOs with no account minimum.
There’s always more to learn.
Everything you never thought you needed to know about IPOs, investing, and a whole lot more.
FAQs
SoFi Active Investing members can invest in IPOs with no account minimums.
Money in your SoFi Money® cash management account is separate from money in your SoFi Invest accounts. If you have SoFi Money, you can instantly transfer up to $50,000 to a SoFi Active Invest account here.
SoFi Invest provides $5,000 of instant funding for external accounts and $50,000 for SoFi Money accounts. If you would like to purchase greater than $5,000/$50,000 from the respective linked accounts, funds must settle before the order date.
Members are able to sell securities obtained during an IPO whenever they would like. SoFi does not restrict the sale of securities on the secondary market. However, if a members sells within the first 30 calendar days post-IPO, that member will be limited in their ability to participate in future IPOs through SoFi for a defined period of time as outlined below:
Members that have obtained shares/units of an IPO through SoFi and sell within the first 30 days post-IPO are considered “flippers” and may be prevented from participating in future IPOs for 180 days upon a first violation, 365 days upon a second violation, and permanently in the event of a third violation.
In addition, SoFi may charge a fee for the sales of securities obtained through the IPO process if the sales take place prior to the 120th day of trading.
SoFi takes several factors into consideration when allocating shares to members, including, but not limited to:
- Direct deposits into your SoFi Money account
- Assets on the SoFi Invest platform
- Prior participation in IPOs and any violations of SoFi’s IPO Flipping Policy
As referenced in the FAQ “What is an indication of interest?”, an IOI is not a binding order because the prospectus has not yet been finalized. Binding orders may only be placed once the registration process concludes and the prospectus is finalized. Therefore, if you placed a non-binding indication of interest you will need to confirm your intent to proceed with the purchase now that you have access to the final terms of the deal, as outlined in the final prospectus, which can be found under “IPO investing’ in the Invest tab of the SoFi mobile app or website. Members who don’t confirm their indications of interest are not eligible to receive an allocation of shares.
Please note, even though you confirm your order, you are not guaranteed an allocation of shares/units. Please see the FAQ “What happens if a deal is oversubscribed?” for more information.
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Active Investing and brokerage services are provided by SoFi Securities LLC, Member FINRA (www.finra.org)/SIPC(www.sipc.org). Clearing and custody of all securities are provided by APEX Clearing Corporation.
For additional disclosures related to the SoFi Invest platforms described above please visit SoFi.com/legal.
Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement. This should not be considered a recommendation to participate in IPOs and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation. New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For more information on the allocation process please visit IPO Allocation.