Yes, units/shares of an initial public offering may be purchased using instant funding. If your funds were deposited using SoFi Money, you will have instant funding availability (up to $50,000). If your funds were deposited using an external bank account, the first $5,000 is available to trade instantly*. Any funds above $5,000 will be available to trade 3 business days post deposit. Under ‘Pending Deposits’, you will be able to see the remaining requested funds preparing for deposit.
(Please Note: All prior deposits must clear before funds will be available instantly on any subsequent deposits.)
*Eligibility requirements include:
Your external bank account must be linked, verified, and approved through our instant verification process.
Your external bank account must have a reported balance greater than or equal to your deposit.