{"id":2747,"date":"2022-11-01T17:24:49","date_gmt":"2022-11-01T17:24:49","guid":{"rendered":"https:\/\/www.wallstreetzen.com\/blog\/?p=2747"},"modified":"2025-05-09T21:26:03","modified_gmt":"2025-05-09T21:26:03","slug":"m1-finance-review","status":"publish","type":"post","link":"https:\/\/www.wallstreetzen.com\/blog\/m1-finance-review\/","title":{"rendered":"I Tried M1 Finance: Reviewing Pros &#038; Cons, Fees [Is it Safe in 2026?]"},"content":{"rendered":"    <div id=\"callout-box-block_1007fb7e4de7a3651dbe0d7198ac7614\" class=\"callout-box promo\">\n        <div class=\"callout-box__icon-wrapper\">\n            <svg focusable=\"false\" class=\"callout-box__icon promo\" viewBox=\"0 0 24 24\" aria-hidden=\"true\">\n                <path d=\"M21.41 11.58l-9-9C12.05 2.22 11.55 2 11 2H4c-1.1 0-2 .9-2 2v7c0 .55.22 1.05.59 1.42l9 9c.36.36.86.58 1.41.58.55 0 1.05-.22 1.41-.59l7-7c.37-.36.59-.86.59-1.41 0-.55-.23-1.06-.59-1.42zM5.5 7C4.67 7 4 6.33 4 5.5S4.67 4 5.5 4 7 4.67 7 5.5 6.33 7 5.5 7z\"><\/path>            <\/svg>\n        <\/div>\n        <div class=\"callout-box__content\"><p><a href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance-cash\" target=\"_blank\" rel=\"noopener\">M1 Finance&#8217;s High-Yield Cash Account<\/a> currently offers one of the more competitive rates out there \u2014 4.25% APY at writing, paid monthly. But as an added bonus, WallStreetZen readers can nab an 0.500% APY boost for 3 months when you <a href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance-cash\" target=\"_blank\" rel=\"noopener\">sign up using this link<\/a>.<\/p>\n<\/div>\n    <\/div>\n\n\n\n<p>If you found this review, chances are you\u2019re curious about the \u201cFinance Super App\u201d <a href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance\" target=\"_blank\" rel=\"noopener\">M1 Finance<\/a>. Is M1 safe and legit? Is it a good place to invest your money? Let\u2019s put your curiosity to rest with this comprehensive M1 Finance review.<\/p>\n\n\n\n<p>Having test-driven all of the platform&#8217;s features for myself, I believe that M1 Finance is an excellent platform for long-term investors with some level of sophistication (read: not for total newbies) who prefer a \u201cset and forget\u201d approach.&nbsp;<\/p>\n\n\n\n<p>If you\u2019re comfortable choosing your own investments (with a little help from curated \u201cmodel portfolios\u201d), enjoy the convenience of maintaining several financial tools (including a great <a href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance-cash\" target=\"_blank\" rel=\"noopener\">high-yield cash account<\/a>) in one place, M1 might be the perfect platform for you.\u00a0<\/p>\n\n\n\n<p><strong>I do NOT suggest M1 Finance for:<\/strong><\/p>\n\n\n\n<ul>\n<li>Day traders who need lightning-fast execution (for you, I suggest <a href=\"https:\/\/www.wallstreetzen.com\/go\/tradestation\" target=\"_blank\" rel=\"noopener\">TradeStation<\/a>)&nbsp;<\/li>\n\n\n\n<li>Investors who want full automation (M1 has similarities to robo-advisors, but it is not a robo-advisor. It doesn\u2019t choose your investments or invest for you.)<\/li>\n<\/ul>\n\n\n\n<p>Now that we\u2019ve got that out of the way, let\u2019s dig into the nuts and bolts of M1 Finance.<\/p>\n\n\n<div class=\"wp-block-code-snippets-content\">M1 High-Yield Cash Account(s) is an investment product offered by M1 Finance, LLC, an SEC registered broker-dealer, Member FINRA \/ SIPC. M1is not a bank and M1 High-Yield Cash Accounts are\r\nnot a checking or savings account. The purpose of this account is earn interest on securities not actively invested. An open M1 Investment account is required to participate in the M1 High-Yield Cash Account. All investing involves risk, including the risk of losing the money you invest.<\/div>\n\n\n<h2><strong>What is M1 Finance?<\/strong><\/h2>\n\n\n\n<p><a href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance\" target=\"_blank\" rel=\"noopener\">M1 Finance<\/a> brands itself as a \u201cFinance Super App.\u201d Its mantra? \u201cSophisticated wealth building, simplified.\u201d Since its inception in 2015, this Chicago-based financial services company has attracted over 320K users and currently has $10 billion AUM as of October 2024.&nbsp;<\/p>\n\n\n\n<p>For a membership fee of just $3 per month (which is waived for the first 3 months for everyone, and waived indefinitely for accounts of $10k or more), you gain access to a robust platform organized around <strong>four key categories:&nbsp;<\/strong><\/p>\n\n\n\n<ul>\n<li><strong>Earn: <\/strong>This category includes M1\u2019s high-yield cash account, which has a competitive interest rate<\/li>\n\n\n\n<li><strong>Invest: <\/strong>This category includes investing in stocks and ETFs through \u201cpies,\u201d and features plenty of cool automated features<\/li>\n\n\n\n<li><strong>Spend:<\/strong> This category includes M1\u2019s own credit card, the Owner\u2019s Rewards card<\/li>\n<\/ul>\n\n\n\n<p><strong><em>Note: The platform also boasts a variety of educational materials in its \u201cLearn\u201d section.&nbsp;<\/em><\/strong><\/p>\n\n\n\n<p>Let\u2019s take a closer look at each of these categories.&nbsp;<\/p>\n\n\n\n<h2><strong>M1 Invest<\/strong><\/h2>\n\n\n\n<p>The \u201cInvest\u201d category on <a href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance\" target=\"_blank\" rel=\"noopener\">M1 Finance<\/a> includes some of its most interesting features, so let\u2019s start there.<\/p>\n\n\n\n<p><strong>As an investor on M1 Finance, you can choose from a variety of different types of accounts:<\/strong><\/p>\n\n\n\n<ul>\n<li><strong>Brokerage accounts:<\/strong> Individual, joint, or custodial&nbsp;<\/li>\n\n\n\n<li><strong>Retirement accounts:<\/strong> Traditional IRA, Roth IRA, SEP IRA<\/li>\n\n\n\n<li>You can also open a crypto or trust account.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>Those offerings are pretty standard fare on investing sites. But what really makes M1 Finance stand out: Its innovative \u201cpie\u201d approach to investing.<\/p>\n\n\n\n<p>M1 lets you build \u201cpies\u201d \u2014 or \u201cslices\u201d of investments that add up to a larger whole. As an investor, you\u2019re like the baker, but instead of using ingredients like flour and sugar, you\u2019re building a bespoke pie of investments, and your \u201cingredients\u201d are about 6,000 stocks and ETFs and a variety of pre-built Model Portfolios.&nbsp;<\/p>\n\n\n\n<p>How you build your pie is up to you.&nbsp;<\/p>\n\n\n\n<p>For instance, you could handpick stocks and ETFs like a self-directed account. Alternatively, if you don\u2019t want to create your own portfolio, or want to have a portion of it built for you, M1 offers nearly <a href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance\" target=\"_blank\" rel=\"noopener\">100 pre-made portfolios<\/a>, otherwise known as \u201cModel Portfolios.\u201d These portfolios could be a solution for beginner investors.<\/p>\n\n\n\n<h4><strong>M1 Model Portfolios&nbsp;<\/strong><\/h4>\n\n\n\n<p>Model Portfolios are pre-built, diversified baskets of investments designed to align with a specific investment strategy or goal. They can be used as a starting point for investors to customize and build your own portfolio.&nbsp;&nbsp;<\/p>\n\n\n\n<p><strong>These pies fall into several different categories:&nbsp;<\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"1999\" height=\"1016\" src=\"https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/1.-M1-Model-Portfolios.png\" alt=\"1. M1 Model Portfolios\" class=\"wp-image-27150\" srcset=\"https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/1.-M1-Model-Portfolios.png 1999w, https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/1.-M1-Model-Portfolios-768x390.png 768w, https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/1.-M1-Model-Portfolios-1536x781.png 1536w\" sizes=\"(max-width: 1999px) 100vw, 1999px\" \/><\/figure><\/div>\n\n\n<p><strong>General Investing<\/strong><\/p>\n\n\n\n<p>These portfolios are similar to standard robo-advisor portfolios and offer seven different options based on risk. Each general investing portfolio holds 6-10 stocks, bonds, and real estate ETFs.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p><strong>Plan for Retirement<\/strong><\/p>\n\n\n\n<p>Each pre-made retirement portfolio has a target &#8220;retirement date&#8221; from 2020 to 2060 and in five-year increments. Each portfolio holds 15-19 diversified ETFs and offers a different allocation depending on how aggressive or conservative you want to be.&nbsp;&nbsp;<\/p>\n\n\n\n<p><strong>Responsible Investing<\/strong><\/p>\n\n\n\n<p>If you want to invest in ESG (environment, social, governance) causes but need help knowing where to start, a pre-made responsible investing portfolio is for you. <a href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance\" target=\"_blank\" rel=\"noopener\">These model portfolios<\/a> hold 5-7 ETFs focused on the ESG space.&nbsp;<\/p>\n\n\n\n<p><strong>Income Earners<\/strong><\/p>\n\n\n\n<p>This portfolio is focused on dividends and income returns. You can own a pre-made income portfolio with 5-7 dividend-paying ETFs, individual U.S. dividend stocks, short- to long-term bonds, and a combo of mortgage-backed and bond ETFs.<\/p>\n\n\n\n<p><strong>Just Stocks and Bonds<\/strong><\/p>\n\n\n\n<p>These are basic pre-made portfolios with two ETFs covering global stocks and bonds.<\/p>\n\n\n\n<p><strong>Other Strategies<\/strong><\/p>\n\n\n\n<p>This category includes some out-of-the-box strategies \u2014 for instance, there\u2019s a \u201cCannabis Pie\u201d including stocks in the marijuana industry.&nbsp;<\/p>\n\n\n\n<p>One thing I really like about researching different Model Portfolios is that you can see their track record over time. For instance, here are some of the portfolios focused on dividends and income returns. You can see the holdings dividend yield, performance over 1, 3, and 5 year time periods, and risk level.&nbsp;<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" width=\"1999\" height=\"899\" src=\"https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/2.-Other-Strategies.png\" alt=\"2. Other Strategies\" class=\"wp-image-27152\" srcset=\"https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/2.-Other-Strategies.png 1999w, https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/2.-Other-Strategies-768x345.png 768w, https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/2.-Other-Strategies-1536x691.png 1536w\" sizes=\"(max-width: 1999px) 100vw, 1999px\" \/><\/a><\/figure><\/div>\n\n\n<h4><strong>Allocating Your Investments<\/strong><\/h4>\n\n\n\n<p>Once you\u2019ve decided on what slices you\u2019d like to add to your pie, you can assign allocations to each investment based on your investments, investment style, and goals. From there, M1 will use automated features to help keep your portfolio in balance.<\/p>\n\n\n\n<p>Let\u2019s say you want to own VT, AAPL, MSFT, and V, but you want VT to be 50% of your portfolio, AAPL to be 25%, and MSFT and V to be about 12.5% each.<\/p>\n\n\n\n<p><strong>Here\u2019s what that looks like:<\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"782\" height=\"390\" src=\"https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/3.-Allocating-Your-Investments.png\" alt=\"3. Allocating Your Investments\" class=\"wp-image-27153\" srcset=\"https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/3.-Allocating-Your-Investments.png 782w, https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/3.-Allocating-Your-Investments-768x383.png 768w\" sizes=\"(max-width: 782px) 100vw, 782px\" \/><\/figure><\/div>\n\n<div class=\"wp-block-code-snippets-content\">M1 does not provide investment advice, and this is not an offer or solicitation of an offer, or advice to buy or sell any security, and you are encouraged to consult your personal investment, legal, and tax advisors. M1 is not recommending or endorsing this investment by making it available to its customers.\r\n<\/div>\n\n\n<p>If you enable the \u201cauto-invest\u201d feature, every time you make a deposit (which you can also automate) the new money you contribute will be invested into the whole pie or individual slices, according to your specifications.&nbsp;<\/p>\n\n\n\n<p>Plus, let\u2019s say AAPL stock skyrockets and becomes 40% of your portfolio. Simply click \u2018Rebalance\u2019 to bring your portfolio back into alignment.<\/p>\n\n\n\n<p>Edit your pie whenever by adding or removing \u201cSlices\u201d or changing the target allocation.<\/p>\n\n\n\n<p>You also have the option of creating multiple pies for different strategies.<\/p>\n\n\n\n<p>Like I said, a powerful combination of self-directing and automation, <a href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance\" target=\"_blank\" rel=\"noopener\">tailored for long-term investors<\/a>.<\/p>\n\n\n\n<h4><strong>Other M1 Invest Features<\/strong><\/h4>\n\n\n\n<p><strong>Here are some cool features you get with M1 Invest:&nbsp;<\/strong><\/p>\n\n\n\n<ul>\n<li><strong>Dividend handling: <\/strong>You can decide if your investments\u2019 dividends are reinvested into your pie, reinvested into the underlying securities, added to your cash account, or you can customize on a case by case basis.&nbsp;<\/li>\n\n\n\n<li><strong>Rebalancing: <\/strong>The stocks and ETFs in your pie won\u2019t always gain or lose in tandem. You can automatically rebalance your portfolio with a few clicks on M1 Finance.&nbsp;<\/li>\n\n\n\n<li><strong>Share your pies: <\/strong>You can share your M1 Finance pie with friends. (For example, <a href=\"https:\/\/m1.finance\/S_1uuOiz6Tu1\" target=\"_blank\" rel=\"noopener\">here is the pie I created<\/a> when setting up my account.) This can be handy if you want to share your investment journey, but you can also get a referral bonus if your friends are so impressed that they sign up for M1 Finance.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"is-layout-flex wp-block-buttons\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-white-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance\" style=\"background-color:#446bca\" target=\"_blank\" rel=\"noopener\"><strong>Get started on M1 Finance<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<h4><strong>Trading Windows&nbsp;<\/strong><\/h4>\n\n\n\n<p>One thing that\u2019s important to know about M1 Finance? It operates on two Trading Window slots. So if you want to make an investment, you can either choose your trade window preference, or&nbsp; choose the next available.&nbsp;<\/p>\n\n\n\n<ul>\n<li>The morning trade window begins around 9:30 ET every day the NYSE market is open.&nbsp;<\/li>\n\n\n\n<li>The afternoon trade window begins around 3:00PM ET.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>Each account with $25,000 or more in equity can participate in both trade windows in a single day. For all other accounts, you can select which window you want to participate in.&nbsp;<\/p>\n\n\n\n<p>While I don\u2019t find the trade window system to be a problem for long-term investors, it isn\u2019t the best option for active traders who need to time their trades with precision, such as day traders attempting to profit from short-term price swings.&nbsp;<\/p>\n\n\n\n<p>For that reason, I do not suggest M1 Finance for day traders. (Check out our post on the <a href=\"https:\/\/www.wallstreetzen.com\/blog\/best-day-trading-platforms\/\" target=\"_blank\" rel=\"noopener\">best day trading platforms<\/a> or scroll down to the \u201cM1 Finance Alternatives\u201d section below for more suggestions.)<\/p>\n\n\n\n<h2><strong>M1 Earn<\/strong><\/h2>\n\n\n\n<p>Nestled under the \u201cEarn\u201d category is <a href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance-cash\" target=\"_blank\" rel=\"noopener\">M1\u2019s High-Yield Cash account<\/a>. You can open it as a solo or joint account.&nbsp;<\/p>\n\n\n\n<p>At writing, it offers one of which currently offers one of the more competitive rates out there \u2014 4.25% APY, paid monthly. But as an added bonus, WallStreetZen readers can nab an 0.500% APY boost for 3 months when you sign up using the link below.<\/p>\n\n\n\n<p>While the base rate is subject to change, that 0.50% boost will remain \u2014 so for the time being, you could collect up to 4.75% APY!&nbsp;<\/p>\n\n\n\n<p>It\u2019s the ideal spot for your uninvested cash; not only can you transfer funds in mere seconds from your cash account to your brokerage account, but you are also entitled to unlimited withdrawals. Additionally, M1 Finance offers $3.75 million FDIC-insured.<\/p>\n\n\n\n<div class=\"is-layout-flex wp-block-buttons\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-white-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance-cash\" style=\"background-color:#446bca\" target=\"_blank\" rel=\"noopener\"><strong>Get a 0.50% boost on your cash now<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n<div class=\"wp-block-code-snippets-content\">M1 High-Yield Cash Account(s) is an investment product offered by M1 Finance, LLC, an SEC registered broker-dealer, Member FINRA \/ SIPC. M1is not a bank and M1 High-Yield Cash Accounts are\r\nnot a checking or savings account. The purpose of this account is earn interest on securities not actively invested. An open M1 Investment account is required to participate in the M1 High-Yield Cash Account. All investing involves risk, including the risk of losing the money you invest.\r\n\r\nStated APY (annual percentage yield) with the M1 High-Yield Cash Account is accrued on account balance. Obtaining stated APY requires a minimum initial deposit of $100. APY is solely determined by M1 Finance LLC and its partner banks, and will include administrative and account fees that may reduce earnings. Rates are subject to change without notice. M1 High-Yield Cash Account is a separate offering from, and not linked to, the M1 High Yield Savings Accounts offered by M1 Spend LLC\u2019s banking partner. M1 is not a bank\r\n\r\nThe cash balance in your Cash Account is only eligible for FDIC Insurance once it is swept to our partner banks and out of your brokerage account. Until the cash balance is swept to partner banks, the funds are held in a brokerage account and protected by SIPC insurance. Once funds are swept to a partner bank, they are no longer held in your brokerage accountand are not protected by SIPC insurance. FDIC insurance is not provided until the funds participating in the sweep program leave your brokerage account and into the sweep program. FDIC insurance is applied at the customer profile level. Customers are responsible for monitoring their total assets at each of the sweep program banks. A complete list of participating program banks can be found here.\r\n<\/div>\n\n\n<h2><strong>M1 Spend&nbsp;<\/strong><\/h2>\n\n\n\n<p>This category includes M1 Finance\u2019s Owner\u2019s Rewards credit card.<\/p>\n\n\n\n<p><strong>In my opinion, the card\u2019s major selling points are:<\/strong><\/p>\n\n\n\n<ul>\n<li>No annual card fee (though a $3 monthly platform fee may apply)<\/li>\n\n\n\n<li><strong>Rewards:<\/strong> With the Owner\u2019s Rewards credit card, you can earn up to 10% cash back on select brands. There are varying tiers of rewards, but you\u2019ll receive 1.5% cash back on all purchases. As for the top-tier rewards? 10% cash back brands include Netflix, Adobe, and Spotify; 5% brands include Chewy, Chipotle, and Starbucks. (Note: you are subject to a maximum of $200 cash back in aggregate per calendar month. Exclusions may apply. See <a href=\"https:\/\/m1-production-agreements.s3.amazonaws.com\/credit-card-documents\/Owners_Rewards_Program_Terms_Jan_2024.pdf\" target=\"_blank\" rel=\"noopener\">Rewards Terms<\/a> for additional information and exclusions.)<\/li>\n<\/ul>\n\n\n\n<p>If you use a lot of the preferred brands listed and like the idea of managing your credit card along with your investments and savings, the Owner\u2019s Rewards card might be a good pick for you.&nbsp;<\/p>\n\n\n\n<p><em>*For informational purposes only and not a trade<\/em> <em>recommendation. All product and company names<\/em> <em>are trademarks or registered trademarks of their<\/em> <em>respective holders. Use of them does not imply any<\/em> <em>affiliation with or endorsement by them.<\/em><\/p>\n\n\n<div class=\"wp-block-code-snippets-content\">Credit Card is not available for US Territory Residents. The Owner\u2019s Rewards Card by M1 is Powered by Deserve and issued by Celtic Bank. Review Cardholder Agreement and Rewards Terms for important information about the Owner\u2019s Rewards Card by M1.\r\n\r\n2.5% \u2013 10% Owner\u2019s Rewards cash back is earned on qualifying purchases based on M1\u2019s rewards tiers that can be found here. All Standard Reward purchases receive 1.5% cash back. Owners Rewards and Standard Rewards are subject to a maximum of $200 cash back in aggregate per calendar month. Exclusions may apply. See Rewards Terms for additional information and exclusions.\r\n\r\n<\/div>\n\n\n<h2><strong>M1 Borrow&nbsp;<\/strong><\/h2>\n\n\n\n<p><a href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance\" target=\"_blank\" rel=\"noopener\">M1 Borrow<\/a> is M1\u2019s lending service. With a minimum individual or joint brokerage account balance of $2,000, you can use it as collateral for loans.<\/p>\n\n\n\n<p>What\u2019s appealing about M1 Borrow is how low its interest rates are. Its margin loan rates are less than half the rates from other brokerages, and the personal loan rates are quite competitive too. You can also set your own repayment timeline.\u00a0\u00a0<\/p>\n\n\n\n<p><strong>Margin Loans: <\/strong>Starting at 6.50% APR, any M1 client who has $2,000 or more invested in an M1 Individual Brokerage Account, Joint Brokerage Account, or Trust Account is eligible for an M1 Margin Loan.&nbsp;<\/p>\n\n\n\n<p><strong>To demonstrate how competitive those margin loan rates are, check out the competitors:&nbsp;<\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" width=\"1670\" height=\"810\" src=\"https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/4.-M1-Borrow.png\" alt=\"M1 Borrow\" class=\"wp-image-27154\" srcset=\"https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/4.-M1-Borrow.png 1670w, https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/4.-M1-Borrow-768x373.png 768w, https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/4.-M1-Borrow-1536x745.png 1536w\" sizes=\"(max-width: 1670px) 100vw, 1670px\" \/><\/a><\/figure><\/div>\n\n\n<p><em>Competitor effective rates shown per each brokerage\u2019s website September 2024; loan balance determines effective rate. M1 rate as of September 2024.<\/em><\/p>\n\n\n\n<div class=\"is-layout-flex wp-block-buttons\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-white-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance\" style=\"background-color:#446bca\" target=\"_blank\" rel=\"noopener\"><strong>Start your M1 Finance account today<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n<div class=\"wp-block-code-snippets-content\">M1 is not a bank. M1 Personal Loans are furnished by B2 Bank NA, Member FDIC and Equal Opportunity Lender, and serviced by M1 Spend LLC, a wholly- owned operating subsidiary of M1 Holdings, Inc.\r\n\r\nRates are not guaranteed and are subject to change. Not all applicants qualify for the lowest available rate and rates are subject to credit history, income, term of loan, and other factors.\r\n\r\nMargin trading entails greater risk, including, but not limited to, risk of loss and incurrence of margin interest debt, and is not suitable for all investors. Please assess your financial circumstances and risk tolerance before trading on margin. If the market value of the securities in your margin account declines, you may be required to deposit more money or securities in order to maintain your line of credit. If you are unable to do so, M1 may be required to sell all or a portion of your pledged assets. Brokerage accounts on the M1 platform are either fully disclosed to APEX Clearing or cleared through M1 Finance LLC. Users utilizing APEX cleared margin accounts should review the APEX margin account risk disclosure before borrowing. Users utilizing M1 cleared margin accounts should review the M1 margin account risk disclosure before borrowing. M1 Margin Loans are available on margin accounts with at least $2,000 invested per account. Not available for Retirement or Custodial accounts. Margin rates may vary. Brokerage products and services are offered by M1 Finance LLC,Member FINRA \/ SIPC, and a wholly owned subsidiary of M1 Holdings, Inc..\r\n\r\n\r\n<\/div>\n\n\n<h2><strong>How to Get Started With M1 Finance&nbsp;<\/strong><\/h2>\n\n\n\n<p>Getting started on M1 Finance is a snap. I timed myself setting up an account \u2014 it took just about 10 minutes to fill out a short sign-up form, link my bank account, and fund my M1 account.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" width=\"1886\" height=\"1182\" src=\"https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/5.-How-to-Get-Started-With-M1-Finance.png\" alt=\"5. How to Get Started With M1 Finance\" class=\"wp-image-27155\" srcset=\"https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/5.-How-to-Get-Started-With-M1-Finance.png 1886w, https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/5.-How-to-Get-Started-With-M1-Finance-768x481.png 768w, https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/5.-How-to-Get-Started-With-M1-Finance-1536x963.png 1536w\" sizes=\"(max-width: 1886px) 100vw, 1886px\" \/><\/a><\/figure><\/div>\n\n\n<p>As you can see from the below, M1 will waive the account fee for your first 3 months \u2014 which I think is a pretty ample amount of time to decide whether or not it\u2019s working for you.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" width=\"1942\" height=\"1123\" src=\"https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/6.-Agreements-and-Disclosures.png\" alt=\"6. Agreements and Disclosures\" class=\"wp-image-27156\" srcset=\"https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/6.-Agreements-and-Disclosures.png 1942w, https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/6.-Agreements-and-Disclosures-768x444.png 768w, https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/6.-Agreements-and-Disclosures-1536x888.png 1536w\" sizes=\"(max-width: 1942px) 100vw, 1942px\" \/><\/a><\/figure><\/div>\n\n\n<p>From there, it\u2019s all about setting up your pie. I decided on a mix* of four different slices chosen from M1\u2019s \u201cModel Portfolios\u201d \u2014 and one portion of a single stock, Berkshire Hathaway, because, well,<em> Warren Buffett.<\/em><\/p>\n\n\n\n<p><strong>Just look at its track record over the past 5 years:<\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"1877\" height=\"990\" src=\"https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/7.-5-year-chart-for-BRK.B.png\" alt=\"7. 5-year chart for BRK.B\" class=\"wp-image-27157\" srcset=\"https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/7.-5-year-chart-for-BRK.B.png 1877w, https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/7.-5-year-chart-for-BRK.B-768x405.png 768w, https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/7.-5-year-chart-for-BRK.B-1536x810.png 1536w\" sizes=\"(max-width: 1877px) 100vw, 1877px\" \/><figcaption class=\"wp-element-caption\"><em>5-year chart for BRK.B, courtesy <\/em><a href=\"https:\/\/www.wallstreetzen.com\/go\/tradingview-pro\" target=\"_blank\" rel=\"noopener\"><em>TradingView<\/em><\/a><\/figcaption><\/figure><\/div>\n\n\n<p><strong>Here\u2019s the finished pie:&nbsp;<\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/m1.finance\/S_1uuOiz6Tu1\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" width=\"1999\" height=\"880\" src=\"https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/8.-Pie.png\" alt=\"Pie\" class=\"wp-image-27158\" srcset=\"https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/8.-Pie.png 1999w, https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/8.-Pie-768x338.png 768w, https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/8.-Pie-1536x676.png 1536w\" sizes=\"(max-width: 1999px) 100vw, 1999px\" \/><\/a><\/figure><\/div>\n\n\n<p>Want to see how my pie is doing? <a href=\"https:\/\/m1.finance\/S_1uuOiz6Tu1\" target=\"_blank\" rel=\"noopener\">Check it out here.<\/a><\/p>\n\n\n\n<p>Because M1 Finance has trading windows, it took a day for my account to actually be funded. The day after I started my account, I received a message asking if I needed any help. I thought it was a nice touch.&nbsp;<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" width=\"1814\" height=\"1100\" src=\"https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/9.-M1-Finance-Has-Trading-Windows.png\" alt=\"9. M1 Finance Has Trading Windows\" class=\"wp-image-27159\" srcset=\"https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/9.-M1-Finance-Has-Trading-Windows.png 1814w, https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/9.-M1-Finance-Has-Trading-Windows-768x466.png 768w, https:\/\/www.wallstreetzen.com\/blog\/wp-content\/uploads\/2022\/11\/9.-M1-Finance-Has-Trading-Windows-1536x931.png 1536w\" sizes=\"(max-width: 1814px) 100vw, 1814px\" \/><\/a><\/figure><\/div>\n\n\n<div class=\"is-layout-flex wp-block-buttons\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-white-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance\" style=\"background-color:#446bca\" target=\"_blank\" rel=\"noopener\"><strong>Start your own pie on M1 Finance today<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n<div class=\"wp-block-code-snippets-content\">M1 does not provide investment advice, and this is not an offer or solicitation of an offer, or advice to buy or sell any security, and you are encouraged to consult your personal investment, legal, and tax advisors. M1 is not recommending or endorsing this investment by making it available to its customers.\r\n<\/div>\n\n\n<h2><strong>Ease of Use &amp; Platform Interface<\/strong><\/h2>\n\n\n\n<p>Here\u2019s a big plus about M1 Finance: It\u2019s very,<em> very <\/em>easy to use.&nbsp;&nbsp;<\/p>\n\n\n\n<p>The desktop experience is great, with a clean, intuitive design. It\u2019s easy to check on your pies, manage your accounts, and research investments.&nbsp;<\/p>\n\n\n\n<p>The mobile app is similarly excellent \u2014 the only feature I couldn\u2019t find on mobile vs.desktop was the ability to track dividends, but since that\u2019s not something I would look at every day anyway, I didn\u2019t feel like it was a big deal.&nbsp;<\/p>\n\n\n\n<h2><strong>M1 Safety Features + Customer Service&nbsp;<\/strong><\/h2>\n\n\n\n<p>Before I wrap up the review, I wanted to share a few more important details about security features and customer support options on the platform.<\/p>\n\n\n\n<p><strong>Security Features<\/strong><\/p>\n\n\n\n<ul>\n<li>FDIC-insured cash accounts ($3.75M FDIC insurance)<\/li>\n\n\n\n<li>SIPC coverage for investments<\/li>\n\n\n\n<li>Encryption and two-factor authentication (2FA)<\/li>\n<\/ul>\n\n\n\n<p><strong>Customer Support<\/strong><\/p>\n\n\n\n<p>M1 has great customer service \u2014 you can get in touch with a human every business day from 8am to 5pm Central time, by phone or by chat. There\u2019s also a chat bot for simple questions or if you need directions on the platform.&nbsp;<\/p>\n\n\n\n<p><strong>Resources:<\/strong> Under the \u201cLearn\u201d heading on the M1 Finance website, you\u2019ll find a variety of articles, FAQs, and self-service options to learn about the platform and its products.&nbsp;<\/p>\n\n\n\n<h2><strong>M1 Finance Fees &#8211; How Does M1 Finance Make Money?<\/strong><\/h2>\n\n\n\n<p>Your first 3 months using <a href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance\" target=\"_blank\" rel=\"noopener\">M1 Finance<\/a> carry no monthly fee.<\/p>\n\n\n\n<p>From there, the platform can be used for free, so long as certain criteria are met (for instance, if your account balance is over $10,000 at least one day during each billing cycle). Otherwise, a platform fee of $3\/month applies.\u00a0<\/p>\n\n\n\n<p>That said, there can also be inactivity fees, TOD transfer fees, and some bank fees applied in a handful of scenarios. See M1 Finance\u2019s <a href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance\" target=\"_blank\" rel=\"noopener\">full fee schedule<\/a> for more details.<\/p>\n\n\n\n<h2><strong>M1 Finance Pros and Cons<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"mtr-table mtr-thead-th\"><thead><tr><th data-mtr-content=\"Pros\" class=\"mtr-th-tag\"><div class=\"mtr-cell-content\">Pros<\/div><\/th><th data-mtr-content=\"Cons\" class=\"mtr-th-tag\"><div class=\"mtr-cell-content\">Cons<\/div><\/th><\/tr><\/thead><tbody><tr><td data-mtr-content=\"Pros\" class=\"mtr-td-tag\"><div class=\"mtr-cell-content\">Clean, easy-to-use platform (desktop + mobile)<\/div><\/td><td data-mtr-content=\"Cons\" class=\"mtr-td-tag\"><div class=\"mtr-cell-content\">Limited investment options (stocks, ETFs, and a limited selection of crypto)<\/div><\/td><\/tr><tr><td data-mtr-content=\"Pros\" class=\"mtr-td-tag\"><div class=\"mtr-cell-content\"><br>Commission-free investing with no advisory fees (other fees may apply)<\/div><\/td><td data-mtr-content=\"Cons\" class=\"mtr-td-tag\"><div class=\"mtr-cell-content\">Lack of advanced trading features (not ideal for active traders)\u00a0<\/div><\/td><\/tr><tr><td data-mtr-content=\"Pros\" class=\"mtr-td-tag\"><div class=\"mtr-cell-content\">Customizable pies with fractional shares<\/div><\/td><td data-mtr-content=\"Cons\" class=\"mtr-td-tag\"><div class=\"mtr-cell-content\">Trading windows vs. Real-time trading (not ideal for day traders)\u00a0<\/div><\/td><\/tr><tr><td data-mtr-content=\"Pros\" class=\"mtr-td-tag\"><div class=\"mtr-cell-content\">Automated rebalancing\u00a0<\/div><\/td><td data-mtr-content=\"Cons\" class=\"mtr-td-tag\"><div class=\"mtr-cell-content\">Limited cryptocurrencies available (only 3)\u00a0<\/div><\/td><\/tr><tr><td data-mtr-content=\"Pros\" class=\"mtr-td-tag\"><div class=\"mtr-cell-content\">Low-interest margin loans\u00a0<\/div><\/td><td data-mtr-content=\"Cons\" class=\"mtr-td-tag\"><div class=\"mtr-cell-content\">No bonds (though they do offer bond ETFs)<\/div><\/td><\/tr><tr><td data-mtr-content=\"Pros\" class=\"mtr-td-tag\"><div class=\"mtr-cell-content\">High-interest cash account with Earn\u00a0<\/div><\/td><td data-mtr-content=\"Cons\" class=\"mtr-td-tag\"><div class=\"mtr-cell-content\"><\/div><\/td><\/tr><tr><td data-mtr-content=\"Pros\" class=\"mtr-td-tag\"><div class=\"mtr-cell-content\">Crypto access\u00a0<\/div><\/td><td data-mtr-content=\"Cons\" class=\"mtr-td-tag\"><div class=\"mtr-cell-content\"><\/div><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2><strong>M1 Finance Alternatives<\/strong><\/h2>\n\n\n\n<p>We believe M1 Finance may be an excellent platform for investors who want to leverage automation to engage in intelligent \u201cset and forget\u201d investing. However, it\u2019s not for everyone. Here are some common situations where investors might not be a good fit, and some suggested alternatives.<\/p>\n\n\n\n<h4><strong>For Investors Who Want Full Automation&nbsp;<\/strong><\/h4>\n\n\n\n<p>On M1 Finance, you will need to choose your own investments. Granted, that part is simplified thanks to Model Portfolios, but you will be the one responsible for choosing what you invest in. If you\u2019re looking for full automation \u2014 that is, a platform that selects investments and executes trades for you \u2014 a platform like <a href=\"https:\/\/www.wallstreetzen.com\/go\/acorns\" target=\"_blank\" rel=\"noopener\">Acorns<\/a> might be a better fit.<\/p>\n\n\n\n<p>On Acorns, the money you invest (including rounded-up change from everyday purchases) is automatically invested based on your user profile, which you set up when you create an account.<\/p>\n\n\n\n<h4><strong>For Day Traders&nbsp;<\/strong><\/h4>\n\n\n\n<p>Because M1 Finance operates in two trade windows, you won\u2019t find the lightning-fast execution that day traders need to benefit from short-term price swings. For fast execution times and technical analysis tools, a platform like <a href=\"https:\/\/www.wallstreetzen.com\/go\/tradestation\" target=\"_blank\" rel=\"noopener\">TradeStation<\/a> will likely be a better fit. (Check out our full <a href=\"https:\/\/www.wallstreetzen.com\/blog\/tradestation-review\/\" target=\"_blank\" rel=\"noopener\">TradeStation review here<\/a>.)<\/p>\n\n\n\n<h4><strong>For Investors Who Want More Assets&nbsp;<\/strong><\/h4>\n\n\n\n<p>M1 Finance is primarily focused on stocks, ETFs, and a small amount of cryptocurrencies. It does not offer bonds (though it does offer bond ETFs) or mutual funds. If you\u2019re looking for a platform with a greater variety of assets, I suggest Public, where you can invest in stocks, bonds, treasury bills, and even some alternative assets like royalties. (Check out my full <a href=\"https:\/\/www.wallstreetzen.com\/blog\/public-review\/\" target=\"_blank\" rel=\"noopener\">Public review here<\/a>.)<\/p>\n\n\n\n<h2><strong>Final Word: M1 Finance Reviews<\/strong><\/h2>\n\n\n\n<p>If you\u2019re still wondering \u201cis M1 Finance good?\u201d after reading this M1 Finance review, let me break it down for you again.<\/p>\n\n\n\n<p>Yes, absolutely, it\u2019s good. Especially for long-term investors who realize the benefits of combining self-directed investing and automation.<\/p>\n\n\n\n<p>With M1 Finance, you don\u2019t have to choose between building your portfolio from scratch or having a robot do it. You can do both! You can pick your own investments or select from 100 pre-built portfolios. M1 can then automate your portfolio management and automatically rebalance it based on your selected criteria.<\/p>\n\n\n\n<p>Interested in simplifying your long-term investments, gaining access to an excellent cash account APY, and the ability to manage several financial instruments in one place?<\/p>\n\n\n\n<p>Check out M1 Finance. I tested out the platform to write this review and found I really liked it; I think you will, too.&nbsp;<\/p>\n\n\n\n<div class=\"is-layout-flex wp-block-buttons\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-white-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.wallstreetzen.com\/go\/m1-finance\" style=\"background-color:#446bca\" target=\"_blank\" rel=\"noopener\"><strong>Check out M1 Finance<\/strong><\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n<div class=\"wp-block-code-snippets-content\">The opinions expressed are solely those of the authors and do not reflect the views of M1. They are for informational purposes only and are not a recommendation of an investment strategy or to buy or sell any security in any account. They are also not research reports and are not intended to serve as the basis for any investment decision. Prior to making any investment decision, you are encouraged to consult your personal investment, legal, and tax advisors.<\/div>","protected":false},"excerpt":{"rendered":"<p>If you found this review, chances are you\u2019re curious about the \u201cFinance Super App\u201d M1 Finance. Is M1 safe and legit? Is it a good place to invest your money? Let\u2019s put your curiosity to rest with this comprehensive M1 Finance review. Having test-driven all of the platform&#8217;s features for myself, I believe that M1 [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":27174,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false},"categories":[47,43],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>M1 Finance Review - Pros &amp; Cons, Fees [Is it Safe in 2026?]<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wallstreetzen.com\/blog\/m1-finance-review\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"M1 Finance Review - Pros &amp; Cons, Fees [Is it Safe in 2026?]\" \/>\n<meta property=\"og:description\" content=\"If you found this review, chances are you\u2019re curious about the \u201cFinance Super App\u201d M1 Finance. Is M1 safe and legit? Is it a good place to invest your money? Let\u2019s put your curiosity to rest with this comprehensive M1 Finance review. 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