Founded in 2015, M1 Finance is primarily a Robo-advisor with an all in one money management platform that helps clients control different aspects of their finances. With the platform, clients can create customized portfolios the way they prefer or select from over 80 expertly designed portfolios. In addition, clients can borrow and spend as they deem fit. The platform incorporates a pie-based interface that makes building and managing a portfolio as easy as possible. There are more than 6,000 stocks, ETFs, and funds to choose from.
M1 Finance Review Introduction
In this M1 Finance review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare brokers including M1 Finance.
M1 Finance Platforms & Tools
M1 Finance provides clients with their free, all-in-one M1 Smart Money Management platform through which traders can seamlessly invest, borrow, spend, and control their finances. The platform is intuitive and easy to use. It uses dynamic pie charts to help users easily visualize and manage their investments, showing what is available in each section. It is easy to review performance and check progress anytime, even while on the go.
There is also the M1 Plus platform, which is a paid upgrade on the free version. It comes with additional features, including borrowing rates, an additional day trading window, cashback, and more. The fee is $125 per annum.
M1 Finance Research & Education
The broker’s educational materials are limited, although there is a blog that has some very useful articles related to their services and investing in general. M1 Finance does not provide the usual analysis tools that you will find with many other online trading brokers.
M1 Finance Trading Accounts
M1 Finance offers different accounts to cater to different investor needs, and the account types range from general investing to retirement accounts. The minimum initial deposit is $100, but after that, you can deposit any amount bigger than $10. For retirement accounts, the minimum initial deposit is $500.
The main account types include:
- Individual: Personal accounts for general investing needs
- Joint: Operated by two individuals, such as spouses, or domestic partners
- Retirement: Traditional, Roth, and SEP IRAs
- Trust: Manage trust investments
M1 Finance Account Funding
M1 Finance allows you to link your bank to your M1 Finance account before you can make your first deposit. To link your bank account, you go through the funding option in the M1 app. It is also possible to set up recurring deposits. M1 Finance does not support any other payment method, such as PayPal, Skrill, Neteller, and others.
M1 Finance Customer Service
M1 Finance offers customer support services via email only. There is also a comprehensive support area on their website that has answers to a variety of questions covering different topics, such as accounts, investing, and more.
M1 Finance Regulation
The M1 Finance brand is owned and operated by M1 Finance LLC, which is registered in the United States with the Securities and Exchange Commission (SEC) — an independent federal government agency responsible for regulating investment services in the US. M1 Finance LLC is also a member of the Financial Industry Regulatory Authority (FINRA), which is a non-governmental organization that regulates member brokerage firms and exchange markets.
M1 Finance Review Summary
M1 Finance is an intuitive automated investment platform where you can invest in customized or pre-build portfolios. They charge no trading fees, but the automated aspect may not be suitable for those who prefer to have more control over individual investments.
It is worth mentioning that some of the trading products and services in this M1 Finance review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the M1 Finance broker website which you can visit by using the link below.
Trading complex instruments can come with a high risk. You should consider whether you understand how investments and trading work and whether you can afford to take the high risk of losing all of your money.