M1 Finance (M1Finance) Review 2025
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $100
- Mobile application
- Proprietary platform
- Available through M1 Borrow with a minimum of $2,000 invested
- Broker specializes in long-term investments
Our Evaluation of M1 Finance
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
M1 Finance is a moderate-risk broker with the TU Overall Score of 6.97 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by M1 Finance clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
M1 Finance may be suitable for investors who prefer long-term trading strategies. There is no minimum deposit required to open an account, but a $100 minimum balance is needed to start investing with taxable accounts, and a minimum $500 balance for retirement accounts. For investing, M1 Finance offers a proprietary platform. A unique feature of the platform is the presence of a dynamic investment portfolio rebalancing system - Pie, which allows you to distribute investments optimally between segments of the portfolio selected by the client. M1 Finance platform may be suitable for both experienced investors and beginners who are ready to invest single-handedly on a long-term basis.
Brief Look at M1 Finance
M1 Finance is a subsidiary of M1 Holdings Inc., which provides long-term investment services. Brokerage products and services are not FDIC-insured, are not bank-guaranteed, and may lose value. Brokerage products and services are offered by M1 Finance LLC, an SEC registered broker-dealer, and Member FINRA/ SIPC (Securities Investor Protection Corporation). M1 Finance provides services exclusively to US residents and offers the following Invest account types: individual brokerage, joint brokerage, Roth IRA, Traditional IRA, SEP IRA, Trust, and custodial. In addition to investing, M1 Finance clients have access to margin loans on brokerage accounts through M1 Borrow. They also provide access to credit through the Owner's Rewards Card.
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- Low-cost investing with a transparent fee structure.
- You can easily set up and manage your investment portfolio through M1's user-friendly platform.
- The company's clients have access to automatic portfolio rebalancing.
- You can manage your portfolio both from a personal computer and from mobile devices.
- The company offers accounts with the same investment conditions, but different forms of ownership, as well as retirement accounts and custodial account.
- The platform provides a small number of ways to fund an investment account and withdraw earned funds to a personal account.
TU Expert Advice
Author, Financial Expert at Traders Union
M1 Finance provides a variety of investment services through its proprietary platform and mobile app, focusing on long-term investment strategies. It offers individual, joint, trust, and custodial account types without a minimum deposit requirement, though a $100 minimum balance is needed for taxable accounts and $500 for retirement accounts. Its clients benefit from low fees, a unique Pie portfolio rebalancing system, and margin borrowing options, making the platform suitable for investors wanting independent control over their portfolios.
Despite its advantages, M1 Finance’s drawbacks include limited funding and withdrawal options, and a cap on trading activities, including only one trade per day, which may deter active traders. Additionally, it is exclusively available to U.S. residents, potentially limiting its accessibility to international investors. Overall, M1 Finance appears fitting for long-term, self-directed investors rather than those seeking passive investment opportunities or frequent trading.
M1 Finance Summary
| 💻 Trading platform: | Proprietary M1 Finance platform, mobile app for iOS and Android |
|---|---|
| 📊 Accounts: | Individual Brokerage Account, Joint Brokerage Account, Traditional IRA, Roth IRA, Simplified Employee Pension (SEP) IRA, Custodial Account, Trust Account |
| 💰 Account currency: | USD |
| 💵 Deposit / Withdrawal: | Bank transfer; ACH |
| 🚀 Minimum deposit: | There is no minimum deposit required to open an account, but a $100 minimum balance is needed to start investing with taxable accounts, and a minimum $500 balance for retirement accounts. |
| ⚖️ Leverage: | Available through M1 Borrow with a minimum of $2,000 invested |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | $1 |
| 💱 EUR/USD spread: | No |
| 🔧 Instruments: | Stocks, ETFs |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | Not indicated |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Two daily trade windows |
| ⭐ Trading features: | Broker specializes in long-term investments |
| 🎁 Contests and bonuses: | No |
M1 Finance is focused on cooperating with investors, regardless of whether they have experience in investing, and provides solutions for convenient work. Simultaneously, M1 highlights that its specialization is a long-term investment and not profit from short positions. Clients have access to accounts with different forms of ownership: in particular, an individual account, a trust account, a joint account, a retirement account, and custodial accounts. There is no minimum deposit required to open an account, but a $100 minimum balance is needed to start investing with taxable accounts, and a minimum $500 balance for retirement accounts. Investing is carried out on a platform developed by M1. A striking feature of cooperation with M1 Finance is the dynamic rebalancing of the portfolio: the Pie system allows you to optimize the investment process and correctly distribute investments between segments.
M1 Finance Key Parameters Evaluation
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Trading Account Opening
Step-by-Step Guide to Opening an M1 Finance Account:
Step 1: Create an account
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Visit the M1 Finance website or download the M1 Finance app.
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Click on “Get Started” or “Sign Up”.
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Enter your email address.
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Create a secure password.
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Click "Continue" to proceed.
Step 2: Phone number verification
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Enter your U.S. phone number (mandatory for security verification).
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You will receive a 6-digit verification code via SMS.
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Enter the verification code to verify your phone number and proceed.
Step 3: Enter personal information
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Provide your full legal name (as it appears on your government-issued ID).
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Enter your date of birth and citizenship details.
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Provide your current U.S. residential address (PO Boxes are not accepted).
Step 4: Employment and financial information
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Choose your employment status (Employed – working for an employer, Unemployed – currently not working, Self-employed – running your own business or freelancing, Student – currently studying, Retired – no longer working).
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Provide your occupation and employer details (if applicable).
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Enter your annual income range and net worth estimation.
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Answer a few investment-related questions to set up your investor profile.
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Click "Continue" to proceed.
Step 5: Identity verification
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Enter your Social Security Number (SSN) as part of the identity verification process.
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Click “Submit” and wait for verification approval.
Step 6: Add a Trusted Contact (Optional)
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M1 Finance allows users to add a trusted contact (must be 18 or older) for their account.
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Enter the trusted contact’s details:
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First Name
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Last Name
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Email Address
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Phone Number
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Click “Add Trusted Contact” or select “Skip” to proceed without adding one.
Step 7: Agree to Electronic disclosures
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You will be prompted to view and accept electronic disclosures for your new account.
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Click “E-Sign Agreement” (if required).
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Accept the Electronic Statement Agreement and Electronic Signature Agreement.
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Click “Continue” to proceed.
Step 8: Review & submit application
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Double-check all the information you entered.
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Accept M1 Finance’s terms and conditions.
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Click "Submit" to finalize your application.
Step 9: Account approval & access
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M1 Finance reviews and approves your account.
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This process can take anywhere from a few seconds to 1-2 business days.
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Once approved, you'll receive a confirmation email.
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You can now start investing, borrowing, and managing cash with M1 Finance.
Step 10: Fund your account
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Choose a funding method
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Click "Connect your bank instantly" to use Plaid for quick linking.
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Select "Other ways to deposit money" if you prefer manual deposit options.
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Connect Your Bank via Plaid
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Click "Continue" on the Plaid prompt.
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Select your bank from the list or search for it.
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Log in to your bank account through Plaid.
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Authorize access to checking/savings account, routing number, and account holder info.
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Once connected, you will see a "Success" message confirming the link.
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Make an Initial Deposit
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Enter the deposit amount (Minimum: $100 for brokerage accounts, $500 for IRAs).
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You can set up a recurring deposit (choose frequency: Monthly, Weekly, etc.).
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Click “Confirm Deposit” to proceed.
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After registration in the personal account, the following sections will become available:
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Financial portal, where you can make deposits and withdrawals and control all financial transactions.
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The section where you can download M1's software.
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Analytics and news portal.
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Investment portal with statistics and history of transactions.
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Support.
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Individual Brokerage Account | From $1 | ACH transfers are free; wire transfers cost $25 |
| Joint Brokerage Account | From $1 | ACH transfers are free; wire transfers cost $25 |
| Traditional IRA | From $1 | ACH transfers are free; wire transfers cost $25 |
| Roth IRA | From $1 | ACH transfers are free; wire transfers cost $25 |
| Simplified Employee Pension (SEP) IRA | From $1 | ACH transfers are free; wire transfers cost $25 |
| Custodial Account | From $1 | ACH transfers are free; wire transfers cost $25 |
| Trust Account | From $1 | ACH transfers are free; wire transfers cost $25 |
There is no fee for moving the position to the next day. However, M1 will charge a minimum balance fee for accounts with a balance of up to $50 and no trading or deposit activity for 90 days or more. The experts at Traders Union have also compared the fee levels in M1 Finance and those of other popular investment platforms - Ally and Charles Schwab. Based on the results obtained, TU has compiled a summary table, which is below.
| Broker | Average commission | Level |
|---|---|---|
|
$1 | |
|
$4 |
Account types
M1 Finance is focused on cooperating with investors who want to manage their funds independently. M1 has personal accounts as well as joint, retirement, trust, and custodial accoun. Any US resident over the age of 18 can open an account with M1 Finance.
Account types:
Deposit and withdrawal
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M1 Finance customers have the ability to fund and withdraw funds via bank transfer, ACH. The user can apply for a withdrawal via his personal account, in the appropriate section.
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The timing for crediting funds to an account depends on the account type. Deposits into a High-Yield Cash account typically take 2-3 business days, while deposits to taxable and retirement accounts are generally credited within 1 business day.
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Withdrawals are also carried out depending on what type of account the client is transferring funds from. Thus, withdrawal to an external bank account takes on average from 2 to 4 business days, withdrawal of funds from a taxable or retirement account to an external bank account takes from 3 to 5 business days.
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When withdrawing funds from a taxable or retirement account, you should also take into account the existence of a settlement period: two more business days must elapse from the date of the transaction.
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M1 charges a monthly platform fee of $3.00, which is waived for clients who have $10,000 or more in M1 assets at least one day during each billing cycle or an active Personal Loan. An Internal wire transfer fee is $25.
Investment Options
M1 Finance works to provide investing conditions specifically for self-investing and does not offer its clients automatic investment programs.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
M1 Finance’s affiliate program
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Refer a friend. Participation in the affiliate program allows affiliates to receive $75 for personal investment account. To do this, an M1 Finance client needs to open a personal investment account, replenish a trading account with the minimum amount following the type of account, and then receive a referral link and share it with friends. For each referred friend who opened an account with the company and replenished it to the required minimum, a bonus will be credited to the partner's account, and the invited client will also receive a financial bonus.
The new user must open an account and make a deposit of at least $100 within 14 days of opening the account so that both of you can receive the bonus. The affiliate program does not limit the number of users you can invite.
Customer support
If an M1 customer has problems or questions, they can contact the support service. The service is available Mon-Fri.
Advantages
- The client can conveniently contact the employees of the company
- The support team responds in writing within one business day
Disadvantages
- You can call M1 during the strictly set hours: from 9 to 4 pm ET
Available communication channels with customer support specialists include:
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write a message to the support chat on M1's website;
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call the number indicated in the sections labeled "Help" or "Contact Us";
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fill out the feedback form on M1's website.
Contacts
| Foundation date | 2015 |
|---|---|
| Registration address | 200 N LaSalle St., Ste. 800; Chicago, IL 60601 |
| Official site | https://m1.com/ |
| Contacts |
(312) 600-2883
|
Education
M1 Finance is ready to cooperate with investors regardless of their experience in the field of investment, however, there are practically no materials onsite that can help clients develop their skills and monitor the current state of affairs in the field of investment.
Detailed Review of M1 Finance
M1 Finance is an investment platform that specializes in long-term investment. The company offers clients a variety of investment instruments, as well as a convenient system for accumulating funds. In particular, M1 Finance offers retirement and custodial accoun, as well as the function of automatically crediting funds from a bank account to an investment account, which allows you to increase your investment turnover periodically and automatically. Please note that M1 Finance works exclusively with US residents over 18 years of age.
M1 Finance in numbers:
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$3 - monthly platform fee, waived for accounts with $10,000+ or an active Personal Loan.
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$100 - minimum investment for individual and joint accounts; $500 for retirement accounts.
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M1 Finance client support is available via email at help@m1.com, Monday through Friday, excluding market holidays.
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Only 1 click is needed to diversify your portfolio.
M1 Finance is a self-directed investment platform
M1 Finance is designed for self-directed investors who want to build and manage their own portfolios. Clients are not offered consulting services, services for automatic conclusion of transactions, or investment programs in which the investor can participate exclusively, materially, and transfer responsibility for capital management to a third party. To make investing simple and understandable, the company has developed its Pie-based portfolio system, which allows you to track portfolio returns and rebalance the portfolio in one click.
Trading operations are carried out on M1's own platform. The company also offers mobile applications for iOS and Android, so that the user can manage the portfolio from a convenient device and place. There is no fees for using the application and trading platform on a PC.
Useful M1 Finance services:
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Borrow. The company provides an opportunity not only to invest but also to arrange loans with a low interest rate. To borrow on margin with M1, you need a minimum of $2,000 invested, and you can borrow up to 50% of your portfolio's value at a flat rate of 6.25% (rate is subject to change).
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Earn. M1 offers High-Yield Cash Accounts that allow clients to earn competitive interest rates on their cash balances.
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Newsroom. In this section, customers can read the latest mentions of the company in the press, as well as read press releases.
Advantages:
Low-cost investing with a transparent fee structure.
The company provides account types for different forms of ownership.
You can conveniently contact the support team via email and phone.
Holders of all types of accounts (except for the retirement account) can participate in the referral program and receive a financial bonus.
M1 offers a proprietary Pie-based portfolio system that can be used to optimize the investment process.
Latest M1 Finance News
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