M1 Finance has a loyal fan base because it does something most apps do not. It blends self-directed investing with automated rebalancing, so you can pick your stocks and ETFs and then let the system stay on track for you. This M1 Finance review walks through the platform in plain language, including who it fits best and where it can fall short.
If you are weighing M1 against options like Robinhood or Public, this guide gives you the basics without the hype. Before you commit cash to any broker, it helps to think through saving vs investing so your timeline matches the account. You can also keep an eye on your credit while you invest by using a credit builder card to build history alongside your portfolio.
How M1 Finance Works
M1 is built around what it calls Pies. A Pie is a visual portfolio where each slice is a stock, ETF, or another Pie. You set the target percentage for each slice, fund the account, and M1 buys the right amounts to match your plan.
Deposits get split across your slices automatically. When one slice grows too big, new deposits flow more to the smaller slices to bring things back into balance. This is the core appeal for hands-off investors who still want to pick what they own.
What You Can Hold
You can hold thousands of US-listed stocks and ETFs in a brokerage account, IRA, or trust. M1 also offers crypto through a partner and limited banking features like a checking account tied to the platform.
Fractional shares are supported, so you can buy a slice of an expensive stock with a small dollar amount. That helps newer investors put together a diversified Pie without needing thousands up front.
M1 Finance Fees and Pricing
As of May 2026, M1 charges a $3 monthly platform fee for standard brokerage accounts. The fee is waived if you keep at least $10,000 across your M1 accounts or have an active M1 personal loan.
Trades themselves are commission-free. There are some account service charges to know about, including a $100 outgoing transfer fee and a $100 IRA termination fee. Crypto trades go through a partner that may charge its own fee on each transaction.
M1 also retired its old M1 Plus paid tier and rolled many of those perks into the standard product. That makes the pricing simpler than it was a couple of years ago.
Pros of M1 Finance
The Pie system is the headline feature. It is one of the cleaner ways to set target allocations and stick to them without trading every week.
Automation is strong. Auto-Invest can move idle cash into your Pie on a schedule, and dynamic rebalancing helps your portfolio drift less over time.
Margin rates are often lower than mainstream brokers. For investors who use margin carefully, that can add up over a long holding period.
Cons to Keep in Mind
M1 is not built for active traders. You generally trade in set windows during the day, not on demand. Day traders and short-term swing traders will likely prefer a different broker.
Research tools are light. You will not find the same depth of charts, screeners, or analyst data that you might see on bigger platforms. Many users pair M1 with a separate research site or app.
The $3 monthly fee can sting if your balance is small. On a $500 account, that works out to a high percentage drag each year. M1 tends to make more sense once you cross a few thousand dollars in deposits.
How M1 Compares to Robinhood and Public
Our deeper Robinhood review covers how it leans toward active traders who want quick orders, options, and a simple mobile app. It does not offer the same Pie-style automated rebalancing that M1 is known for. If you also want a banking angle, our SoFi vs Robinhood comparison shows another all-in-one path.
Our Public.com review digs into its social feed, fractional shares, and mix of stocks, ETFs, bonds, and alternative assets. It is friendly for beginners who like seeing what others hold.
M1 sits between hands-off robo-advisors and full DIY brokers. If you want to choose your holdings but skip the daily trading work, M1 may fit better than either Robinhood or Public.
Public
Public
Investing for those who take it seriously. Invest in stocks, bonds, options, crypto & more.
Standout feature
A 5%+ yield Bond Account paired with 3.3% APY on cash — Public is one of the only consumer apps where idle and conservative money is treated as seriously as the equity portfolio.
Fees
Free
Pros
• Invest in stocks, bonds, crypto & more• Earn 3.3% APY* on your cash with no fees• 1% match when you transfer your portfolio• Lock in a 5%+ yield with a Bond Account
Cons
Customer support is in-app and email only, no phone
Who Should Consider M1 Finance
Long-term investors who already know roughly what they want to own tend to do well on M1. The Pie keeps your plan visible, and the automation handles the routine work.
People saving for retirement in a Robinhood Roth IRA or traditional IRA often appreciate the set-and-forget feel. If your balance is on the smaller side, you may want to wait until you can hit the $10,000 mark to skip the monthly fee.
If you are still building credit while you start investing, products like Firstcard and resources from Creditship can help on the credit side while M1 handles your portfolio. The two goals can move together over time.
Frequently Asked Questions
Is M1 Finance safe to use?
M1 is a registered broker-dealer and brokerage accounts are protected by SIPC up to standard limits. That covers missing securities if the firm fails, but it does not protect you from market losses. As with any investing, your balance can go up or down.
Is the $3 monthly fee worth it?
It depends on your balance. On smaller accounts, the fee can eat into returns and may not be worth it. Once you cross $10,000 in assets the fee is waived, which makes the math friendlier for long-term investors.
Can I day trade on M1 Finance?
Not really. M1 uses trade windows during the day rather than instant order execution. Active traders usually pick a different broker, while M1 fits people who buy and hold.
How does M1 differ from a robo-advisor?
A robo-advisor picks the portfolio for you based on a questionnaire. M1 lets you build your own Pie or use an expert template, then automates the rest. You get more control than a typical robo, but you also have to make the choices.
