Updated September 28, 2026 · BrokerCue Editorial Team
M1 vs SogoTrade
What sets them apart
| Compare |  M1 |  SogoTrade |
|---|---|---|
| Minimum deposit | $0Lower | $500 |
| Markets | Stocks, ETFs, Crypto | Stocks, ETFs, Options, Crypto, Bonds, FundsCovers more |
| Regulators | SIPC | FINRA, SIPCCovers more |
| Margin rate | 5.9%Lower | 9.75% |
| Options contract fee | Not confirmed | $0.50 |
| Platforms | Not confirmed | SogoTrade NextGen, SogoOptions, Mobile app |
| Account types | IRA, Roth IRA, Joint | Not confirmed |
| Maximum retail leverage | Up to 50% of portfolio value | Not confirmed |
| Interest on cash | 3.35% | Not confirmed |
Same on both: Stock trade fee ($0), Investor protection (SIPC up to USD 500,000).
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Key differences
- SogoTrade scores higher overall: 9.3 vs 9.0.
- Regulators: only SogoTrade offers FINRA.
- Minimum deposit is lower at M1: $0 vs $500.
- Margin rate is lower at M1: 5.9% vs 9.75%.
- Markets: only SogoTrade offers Options, Bonds, Funds.
- Support channels: only M1 offers Help centre.
- Support channels: only SogoTrade offers Email, Chat, Phone.
- Features: only M1 offers Fractional shares.
- Features: only SogoTrade offers Options.
Our verdict on each
M1
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.
SogoTrade
SogoTrade is a US broker for experienced traders who want share dealing without commission, plus options, crypto and margin in one account. Its catch is the entry cost: a minimum deposit of $500 and an options contract fee of $0.50 for anyone trading contracts.
Score breakdown
| Area | M1 | SogoTrade |
|---|---|---|
| Cost | 9.5Higher | 8.8 |
| Offer | 9.0Costs carry the offer: 0% management fee, $0 stock trades and a $0 minimum deposit. | 9.5Higher |
| Trust | 8.6 | 9.5Higher |
Positions in our rankings
| Ranking | M1 | SogoTrade |
|---|---|---|
| Stock and ETF brokers | 145 of 471 | 81 of 471 |
| Margin trading brokers | 16 of 22 | 13 of 22 |
Side by side, item by item
| Markets | M1 | SogoTrade |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | No | Yes |
| Crypto | Yes | Yes |
| Bonds | No | Yes |
| Funds | No | Yes |
Sources behind this comparison
M1
- m1.com: 7 facts, checked September 26, 2026
- sipc.org: 3 facts, checked September 26, 2026
- millennialmoneyman.com: 2 facts, checked September 26, 2026
- thecollegeinvestor.com: 2 facts, checked September 26, 2026
- bestroboadvisors.org: 1 fact, checked September 26, 2026
SogoTrade
- sogotrade.com: 13 facts, checked September 26, 2026
- sipc.org: 1 fact, checked September 26, 2026
Every fact side by side
| Fact | M1 | SogoTrade |
|---|---|---|
| Features | Crypto, Fractional shares, Mobile app | Crypto, Options, Mobile app |
| Pricing model | Commission free | Commission free |
| Audience | Not confirmed | Experienced, Beginners |
| Legal entity | M1 FINANCE LLC | SOGOTRADE INC |
| Headquarters | United States | United States |
| Founded | 2015 | Not confirmed |
| Support channels | Help centre | Email, Chat, Phone |
Robo-advisors
| Fact | M1 | SogoTrade |
|---|---|---|
| Management fee | 0% | Not confirmed |
| Minimum investment | $10,000 | Not confirmed |
| Portfolio types | ETF, Cash, Crypto | Not confirmed |
Where each stands against the rest
| Fact | M1 | SogoTrade | Median |
|---|---|---|---|
| Minimum deposit | $0below the median | $500highest quarter | $25 |
| Stock trade fee | $0at the median | $0at the median | $0 |
| Margin rate | 5.9%below the median | 9.75%above the median | 8.75% |
| Options contract fee | Not confirmed | $0.50below the median | $0.625 |
| Interest on cash | 3.35%above the median | Not confirmed | 3% |
Median across 134 listed brokers.
Pros and cons
M1
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.
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.
SogoTrade
Pros
- Share dealing is commission-free, with the model listed as commission free.
- A single account spans stocks, etfs and options.
- Registration with FINRA and SIPC and investor protection of SIPC up to USD 500,000.
Cons
- A minimum deposit of $500 places it at position 178 of 213 on the site.
- Options trading carries a contract fee of $0.50, so frequent contract traders pay a running cost on top of share dealing.
- Margin is priced at 9.75%, so borrowed positions cost more than cash ones.
Who each suits
M1
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.
SogoTrade
Who it suits
- Traders comfortable with options and margin, since crypto, options and mobile app sits alongside core share dealing.
- US accounts, since the firm is based in the United States.
- People who want one login across SogoTrade NextGen, SogoOptions and mobile app.
Who should look elsewhere
- CFI if a free minimum deposit matters, because CFI asks for $0 against $500 here.
- Vantage if you want to start small, with a minimum deposit of $5.
- eToro if you trade forex and CFDs, since stocks, etfs and forex lists markets outside the SogoTrade range.
Country by country
| Country | M1 | SogoTrade |
|---|---|---|
| United States | Yes | Yes |
Questions about each
M1
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.
SogoTrade
What does SogoTrade charge to trade shares?+
Stock trades are priced at $0 under a commission free model, so share dealing carries no commission. You still need a minimum deposit of $500 before orders can be placed. Charges beyond that sit on options, at $0.50 per contract, and on margin, at 9.75%.
How much is the minimum deposit?+
Opening the account takes a minimum deposit of $500, which is far from a casual entry and places SogoTrade at position 178 of 213 on the site. Traders wanting a lighter start can compare $0 at CFI and $5 at Vantage.
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