M1 Finance review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
M1 Finance pairs $0 stock trades with 0% management fees, and its cash account pays 3.35% on uninvested balances. It suits US savers who want automated investing with a variable cash rate and SIPC cover, rather than paying to pick every trade themselves.
Key facts
- Best for
- Opening and trading at no cost while cash earns 3.35%.
- Minimum deposit
- $0↗
- Stock trade fee
- $0↗
- Markets
- Stocks, ETFs, Crypto↗
- Regulators
- SIPC↗
- Investor protection
- SIPC up to USD 500,000↗
- Margin rate
- 5.9%↗
- Account types
- IRA, Roth-IRA, Joint↗
- Maximum retail leverage
- Up to 50% of portfolio value↗
- Interest on cash
- 3.35%↗
- Legal entity
- M1 FINANCE LLC↗
- Headquarters
- United States↗
- Founded
- 2015↗
- Support channels
- Help-centre↗
- Features
- Crypto, Fractional shares, Mobile app
- Pricing model
- Commission-free
- Official website
- m1.com
Savings
Pros and cons
Pros
- Trading is commission free: stock trades cost $0 and the management fee is 0%.
- Uninvested cash pays 3.35% on a variable rate and sits under FDIC up to USD 250,000.
- Investments are covered by SIPC up to USD 500,000 and the firm sits under SIPC with membership SIPC member 69670.
- Automated pies can hold etf, cash and crypto, and crypto, fractional shares and mobile app covers fractional buying and mobile access.
Cons
- Support runs on help centre only, so help is self service.
- Margin borrowing at 5.9% adds interest to a portfolio priced at $0 to trade.
- The referral offer quotes a $10,000 minimum investment, well above the $0 needed to open.
Who it suits
- US savers who want automated investing and a paying cash balance in a single app.
- People saving into ira, roth ira and joint accounts using fractional shares.
- Investors who prefer pie allocations across stocks, etfs and crypto to picking single shares.
Who should look elsewhere
- Bunq, which opens at €10 and suits euro banking rather than US investing.
- CFI, if you need forex or CFD trading, since it lists stocks, etfs and forex.
- Fiesta Credito MX, which sits under CONDUSEF rather than SIPC and answers to a different market.
Where it sits among rivals
On minimum deposit it holds position 1 of 218 brands ranked, and on stock trade fee position 1 of 166. Both are computed ranks, and they put M1 Finance at the head of the tables on entry cost and trading cost.
How M1 Finance compares
9.0 vs 9.4
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9.0 vs 9.2
9.0 vs 8.7
9.0 vs 8.6
9.0 vs 9.2
9.0 vs 9.2
9.0 vs 9.0
9.0 vs 9.2
9.0 vs 9.2
9.0 vs 9.2
9.0 vs 9.1
9.0 vs 9.0
9.0 vs 9.0
9.0 vs 9.0
9.0 vs 9.0
9.0 vs 8.8
Where M1 Finance 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 M1 Finance charge to trade?+
Stock trades cost $0 and the management fee is 0%, the only pricing stated under commission free trading. Borrowing against the portfolio is charged at 5.9%, so the trade fee does not cover the interest on a loan.
How much interest does cash left in the account earn?+
The high yield cash account pays 3.35% on a variable basis, so the rate moves with the policy rate. The account is classed as cash management and FDIC up to USD 250,000 applies to that cash balance. Interest compounds and is credited monthly.
Is my money protected?+
Regulatory cover comes from SIPC, with membership recorded as SIPC member 69670. The firm trades as M1 FINANCE LLC and is based in the United States. Securities in the account are covered by SIPC up to USD 500,000, and cash waiting to be invested falls under FDIC up to USD 250,000.
How do I get money in and out?+
Access is on demand: daily ACH transfers up to a daily cap, with wire transfers for more than that, and interest compounded and credited monthly. The minimum balance to open is $0.
What can I actually buy?+
The markets list shows stocks, etfs and crypto, and pies can be built from etf, cash and crypto. Fractional shares and crypto sit alongside the mobile app in crypto, fractional shares and mobile app, so small monthly amounts can be invested and the same pie can hold cash.
Which account types can I open?+
Available account types are ira, roth ira and joint, so retirement and shared accounts sit alongside the taxable brokerage. The minimum investment quoted on the referral offer is $10,000, which is higher than the $0 needed to get going.
Can I borrow against my holdings?+
Margin borrowing runs on leverage of Up to 50% of portfolio value at 5.9%. It sits alongside the commission free model rather than replacing it, and it is the part of the account that adds a running cost to a portfolio that otherwise trades free.
How much retail money gets lost?+
Across the brands listed, retail accounts that lose money run at 70.15%, with a middle spread of 65.75% to 74.5%. M1 Finance covers stocks, etfs and crypto and automated pies, so the same retail pattern sits behind what is on offer here.
Sources
- sipc.org/list-of-members checked September 26, 2026
Backs: Investor protection, Legal entity, Regulators, Licences
“reportingFileNumber=69670; name=M1 FINANCE LLC”
- brokercheck.finra.org checked September 26, 2026
Backs: Deposit protection
- help.m1.com/hc/en-us/articles/23501704237203-High-Yield-C... checked September 26, 2026
Backs: Access terms, Rate type
“There are no limits on the number of transfers. The daily ACH transfer limit is $120,000”
- m1.com checked September 26, 2026
Backs: Account types, Interest on cash, Features, Founded, Headquarters, Markets, Support channels
“Individual Joint - High-Yield Cash Account; Traditional IRA Roth IRA SEP IRA”
- m1.com/earn/high-yield-cash-accounts checked September 26, 2026
Backs: Account kind, Headline rate
“A High-Yield Cash Account is a cash reserve powered by your M1 brokerage account”
- 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 11 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Account fee, Inactivity fee, Retail accounts that lose money.