SoFi Hong Kong’s Year in Review
It’s December, and that means it’s that time of the year where we look back and celebrate all the achievements and wins for SoFi and our members in the past 12 months!
2020 was a challenging year and whilst the pandemic continued in 2021, we can reflect on a lot more positives this year and ultimately be proud of what was achieved.
We Launched Some Great New Features
SoFi Hong Kong is always committed to making investing easy and accessible to all. In 2021 we launched two new features that do just that.
Fractional trading was unveiled to our SoFi members in Q2 this year. A share of Amazon (worth US$3,413 as of 28 December 2021) is no longer out of reach – you can buy a fraction of it, and many other U.S. stocks, for as little as US$10.
Fractional trading means that even members who don’t have a lot of money can now trade some of the biggest public companies in the U.S. We think this is particularly great for our younger generation investors.
And you all really took to fractional trading! Some of the top fractional stocks traded on SoFi Hong Kong were Tesla (TSLA), Amazon (AMZN), Apple (AAPL), and Google (GOOGL).
We also launched Auto Invest in Q4 this year. With Auto Invest you set up an investment goal, tell it how much risk you want to take, deposit some money and you’re good to go! Our clever artificial intelligence then does all the work of managing the investment for you, working day and night to try to make you money*.
If you don’t know much about investing or just don’t have time to do it, Auto Invest could be the perfect feature for you. But even if you prefer picking your own shares, you can also try Auto Invest as part of a diversified portfolio.
The Most Popular Traded Stocks on SoFi
Quite possibly the most talked-about shares this year were the social media-driven phenomenon known as meme stocks.
Gamestop (GME) soared more than 1700% in January 2021 and AMC Entertainment Holdings Inc (AMC) price also surged more than fivefold between May and June.
Needless to say, GME and AMC are amongst the most traded shares on SoFi Hong Kong this year.
But besides the meme stocks, some of the other top stocks and ETFs that our members traded were:
- Tesla (TSLA)
- Taiwan Semi Conductor Manufacturing Company Limited (TSM)
- Apple (AAPL)
- Palantir (PLTR)
- Ark Innovation ETF (ARKK)
- ProShares UltraPro QQQ (TQQQ)
- Nio (NIO)
- Virgin Galactic (SPCE)
Will 2022 see another meme stock phenomenon?
We Got Students Excited About Investing
We partnered with Yahoo Hong Kong to hold a U.S stock trading competition, Hunger Investment Game as part of the Yahoo Finance Youth Program, for university students because part of SoFi Hong Kong’s mission is to get the next generation of young people trading.
The competition was hugely popular and we had many talented teams submit their applications. After one intense round of teams presenting their investment strategy, the judges (which included SoFi Hong Kong’s Head of Sales) selected three teams to make the final cut.
Despite the downturn in markets in December, all the teams did extremely well and the judges presented the winning teams with a cash prize.
The competition was successful and SoFi Hong Kong hopes to continue to get students and younger generations excited about investing in 2022.
We launched two amazing advertising campaigns this year.
In Q2, Investors Unleashed was all about unleashing the inner investor in everyone and announcing SoFi to Hong Kong. This branding campaign featured eye-catching out of home ads displayed on bus bodies and bus shelters across Hong Kong Island and Kowloon.
In Q4 we launched a second campaign: No Excuse!
We partnered with Cantopop singer MC Cheung whose songs we all love to listen to at the SoFi office! With fractional and Auto Invest features now available along with a simple-to-use app and transparent fees, we think there is NO EXCUSE not to use SoFi.
A big thank you to everyone who said they liked seeing these advertising campaigns from us! We will continue to work our creative juices in 2022 to bring you more compelling campaigns.
Now You Know How We Make Money
Yes, we introduced a HK$30 monthly platform fee. We know this news came as a surprise to many of our members, but the most common question we get is “How do you make money?”
Well now you know! A HK$30 monthly platform fee allows us to continue to offer commission-free trading, as well as invest in research and development, technology and infrastructure. This is all so we can continue to innovate and provide you with an even better trading experience.
It’s also a flat fee as well. Not a commission or transaction fee, and definitely not a hidden fee. It won’t eat into your gains and amplify your losses.
And the Biggest News of the Year for SoFi! $SOFI
SoFi first started out 2021 by announcing our plans to become a publicly-traded company via a merger with Social Capital Hedosophia Holdings Corp. V. Then on June 1, 2021, it reached a major milestone in our history and became a publicly-traded company on Nasdaq under the ticker symbol $SOFI.
The SoFi team worldwide were all incredibly happy to have achieved this after many years of hard work and preparation.
But of course, none of this could have been possible without all our wonderful SoFi members. And this also goes for the features we released, the initiatives we did, and the marketing campaigns we launched. It’s only because of the support from our SoFi members that we could do all this.
So from all of us at SoFi Hong Kong and SoFi worldwide – thank you!
Bring on 2022!
Although 2020 was tough, 2021 has been a major improvement and we hope to continue our momentum into 2022.
We have been inspired to hear all the positive and constructive feedback from our members on all the things we have done this year, and we hope to continue to deliver for each and every one of you.
So here’s to a new year from all of us at SoFi Hong Kong!
*Auto Invest tracks and re-balances your portfolio every 2 weeks. Please refer to the Robo Advisory Agreement for more details.
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