M1 review
Updated September 28, 2026 · BrokerCue Editorial Team · Facts checked September 26, 2026
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings.
Our verdict
M1 is a low-cost brokerage built for retirement savers and small investors who want shares, ETFs and crypto in a single account. Stock trades run at $0 and it places 1 of 213 brands on minimum deposit, though the managed portfolios want $10,000 to start.
Key facts
- Best for
- Retirement savers and small investors who want shares, ETFs and crypto without a per-trade charge.
- Minimum deposit
- $0 (Source, checked September 26, 2026)
- Stock trade fee
- $0 (Source, checked September 26, 2026)
- Markets
- Stocks, ETFs, Crypto (Source, checked September 26, 2026)
- Regulators
- SIPC (Source, checked September 26, 2026)
- Investor protection
- SIPC up to USD 500,000 (Source, checked September 26, 2026)
- Margin rate
- 5.9% (Source, checked September 26, 2026)
- Account types
- IRA, Roth-IRA, Joint (Source, checked September 26, 2026)
- Maximum retail leverage
- Up to 50% of portfolio value (Source, checked September 26, 2026)
- Interest on cash
- 3.35% (Source, checked September 26, 2026)
- Legal entity
- M1 FINANCE LLC (Source, checked September 26, 2026)
- Headquarters
- United States (Source, checked September 26, 2026)
- Founded
- 2015 (Source, checked September 26, 2026)
- Support channels
- Help-centre (Source, checked September 26, 2026)
- Features
- Crypto, Fractional shares, Mobile app
- Pricing model
- Commission-free
- Official website
- m1.com
Robo-advisors
- Management fee
- 0% (Source, checked September 26, 2026)
- Minimum investment
- $10,000 (Source, checked September 26, 2026)
- Regulators
- SIPC (Source, checked September 26, 2026)
- Investor protection
- SIPC up to USD 500,000 (Source, checked September 26, 2026)
- Account types
- IRA, Roth-IRA, Joint (Source, checked September 26, 2026)
- Portfolio types
- ETF, Cash, Crypto (Source, checked September 26, 2026)
- Legal entity
- M1 FINANCE LLC (Source, checked September 26, 2026)
- Headquarters
- United States (Source, checked September 26, 2026)
- Founded
- 2015 (Source, checked September 26, 2026)
- Support channels
- Help-centre (Source, checked September 26, 2026)
Pros and cons
Pros
- Placing 1 of 213 brands on minimum deposit, so an account opens without a funding hurdle.
- Placing 1 of 161 brands on stock trade fees, with a stock trade costing $0.
- Uninvested cash earns 3.35%, and Pie portfolios mix etf, cash and crypto.
- Accounts cover ira, roth ira and joint, so retirement and joint investors hold in the same place.
- A mobile app and fractional shares sit in crypto, fractional shares and mobile app, so a fixed monthly amount can be split across holdings.
Cons
- Margin borrowing at 5.9% can cost more over a held position than the $0 trade fee saves.
- Support runs on help centre only, with no phone or live chat listed.
- Managed portfolios want $10,000 to start, well above the $0 brokerage entry point.
- Markets stop at stocks, etfs and crypto, while eToro lists stocks, etfs and forex, so forex and CFD traders must look elsewhere.
Who it suits
- Self-directed investors who want to trade shares and ETFs without a per-trade charge.
- Retirement savers, since accounts include ira, roth ira and joint.
- People who want crypto alongside equities in the same account, under stocks, etfs and crypto.
Who should look elsewhere
- Traders who need forex, CFDs or futures, since eToro lists stocks, etfs and forex and M1 stops at stocks, etfs and crypto.
- Readers who want a wider asset list in the same app, because CFI covers stocks, etfs and forex.
- Managed portfolio buyers starting below $10,000, a floor that sits well above the $5 deposit Vantage asks to open an account.
How it compares on our data
M1 places 1 of 213 brands on minimum deposit and 1 of 161 brands on stock trade fees in the comparison data. Holding both placements at the same time is the detail that sets it apart from the brokers listed beside it, since both measures land on a single account rather than being spread across separate products. Readers who open with a small balance and trade often feel both figures straight away.
Fees and costs
The entry point costs $0, so nobody has to fund an account before it exists. Each stock trade costs $0, which leaves the bid and ask spread and currency conversion as the running costs rather than a ticket fee. Borrowing is the line to watch: margin is priced at 5.9%, so a leveraged position can cost more in interest over time than the trade fee ever saves. The low cost only stays low while the borrowed balance stays small.
How your money is protected
The regulator listed for M1 is SIPC, and it is the only entry on file for the firm. Cover for holdings in the account is stated as SIPC up to USD 500,000, which is a ceiling on what the scheme pays rather than a full guarantee on the balance, and it says nothing about a fall in the value of an investment. The licence record reads SIPC member 69670, so a reader can match the entity against the scheme's own member list.
The company behind it
The legal entity is M1 Finance LLC, based in the United States and founded 2015. Its scheme record reads SIPC member 69670. Support is the thinner part of the operation: help runs on help centre alone, with no phone or live chat listed, so a question that needs a person's judgement goes into a written queue. Founded 2015, the firm also carries a shorter trading record than the long-established brokers listed alongside it.
How M1 compares
9.0 vs 9.0
9.0 vs 9.4
9.0 vs 8.7
MarketScreener
9.0 vs 9.4
9.0 vs 8.7
9.0 vs 9.0
9.0 vs 9.3
9.0 vs 8.7
9.0 vs 8.6
9.0 vs 9.2eToro lists stocks, etfs and forex, adding futures to the share and crypto markets M1 covers.
9.0 vs 8.7
Kitco
9.0 vs 9.1
9.0 vs 9.0
9.0 vs 9.0Pepperstone
Vaulted
wikifolio.com
Intellectia
Winvest
Libertex International
XM VN
Where M1 is available
- Available
- United States
- Licence in United States
- SIPC (SIPC member 69670), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does it cost to trade shares at M1?+
Stock trades cost $0 and the account opens with a $0 minimum deposit, so there is no per-trade commission and no funding hurdle. The running cost sits in the spread and in currency conversion when shares priced in dollars are bought. Margin borrowing is charged at 5.9% and is the line most likely to run up a bill.
Is my money protected at M1?+
Protection runs through the scheme listed as SIPC, with cover stated as SIPC up to USD 500,000. It is the only regulator on file, so there is a single scheme to claim against and a single register to check. The membership record reads SIPC member 69670. The stated figure is a ceiling on the payout, not a stand-in for the balance itself.
How much do I need to open an M1 account?+
The minimum deposit is $0, so an account can be opened without funding it first, and that figure applies to the brokerage side. A managed Pie portfolio carries a separate entry point of $10,000, which is the number that matters if the plan is to hand the money to the automated mix instead of placing trades.
Can I borrow to invest at M1?+
Margin is priced at 5.9%, and the borrowing cap is Up to 50% of portfolio value. Interest runs on the borrowed balance for as long as the position stays open, so the cost grows with days held rather than with trades placed. The cheap trade fee is a small part of the bill for anyone leaning on borrowed money.
What can I actually trade at M1?+
Markets cover stocks, etfs and crypto, which puts shares, ETFs and crypto in the same account. Forex, CFDs and futures are not in that set, where eToro lists stocks, etfs and forex. Account types cover ira, roth ira and joint, so retirement and joint investors are served inside the same product.
What app and portfolio options does M1 offer?+
A mobile app sits in crypto, fractional shares and mobile app, alongside crypto and fractional shares, so a fixed monthly amount can be split across holdings instead of buying whole shares. Pie portfolios are built from etf, cash and crypto, and uninvested cash inside the mix earns 3.35%.
How do I get help if something goes wrong?+
Support runs on help centre, so self-service articles are the listed route. No phone line or live chat appears on file, which matters for a firm based in the United States where the time zone does not match UK working hours. The legal entity behind the account is M1 Finance LLC.
Who is M1 suited to?+
M1 suits self-directed investors who want shares, ETFs and crypto in a single place, with a $0 stock trade fee, and retirement savers using ira, roth ira and joint. It suits readers less well if the plan needs forex, CFDs or futures, or a person on the phone. Founded 2015, it is a younger firm than the brokers listed alongside it.
What interest do I get on money that is not invested?+
Cash held in a portfolio earns 3.35%, and portfolios can mix etf, cash and crypto. Idle money therefore earns something rather than sitting flat, though the rate moves with the provider and it is not a savings guarantee. The management fee on the brokerage side is 0%, so nothing is deducted on top for holding the account.
Sources
- sipc.org/list-of-members checked September 26, 2026
Backs: Regulators, Investor protection, Legal entity, Licences
“reportingFileNumber=69670; name=M1 FINANCE LLC”
- m1.com checked September 26, 2026
Backs: Headquarters, Account types, Support channels, Markets, Interest on cash, Features, Founded
“Individual Joint - High-Yield Cash Account; Traditional IRA Roth IRA SEP IRA”
- m1.com/invest/brokerage checked September 26, 2026
Backs: Management fee
“We don't charge any commission, trading, or management fees for self-directed brokerage accounts.”
- m1.com/promo/referral checked September 26, 2026
Backs: Minimum investment
“Account Opening Minimum Amount: Individual - $10,000, Joint - $10,000, Custodial - $10,000, Trust - $10,000, Retirement (Traditional, Roth, or SEP IRA) - $10,000”
- m1.com/what-is-a-pie checked September 26, 2026
Backs: Portfolio types
“Each Slice contains your stocks and funds or crypto.”
- millennialmoneyman.com/m1-finance-review checked September 26, 2026
Backs: Pricing model, Stock trade fee
“There are $0 commissions or trading fees on stocks and ETFs - M1 Invest”
- thecollegeinvestor.com/19062/m1-finance-review-keeping-in... checked September 26, 2026
Backs: Margin rate, Maximum retail leverage
“The interest rate for standard accounts is 5.90% - M1 Borrow margin loan”
- bestroboadvisors.org/m1-finance-review checked September 26, 2026
Backs: Minimum deposit
“Minimum to Open $0 to open / $100 to start trading / $500 for retirement accounts - M1 Invest”
Compiled from 8 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Account fee, Inactivity fee, Retail accounts that lose money.
M1
Retirement savers and small investors who want shares, ETFs and crypto without a per-trade charge.