M1 Finance Review Automated, Customizable Investing with Zero Fees!

M1 Finance Review:Best Automated, Customizable Investing with Zero Fees!

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M1 Finance is an investing tool that helps you personalize how you invest your money, automate your investments, and set and forget your portfolio to achieve your financial goals effortlessly.

M1 Finance allows you to:

  • Construct your own ETFs
  • Automate your investments, including dividend reinvestments
  • Pay no commissions or fees
  • Access several IRA choices

Cons:

  • Platform interface has a learning curve
  • No control over trade execution timing
  • Buying specific stocks is challenging
  • Limited account types

User Experience Rating: 9/10

Key Ratings:

  • Fees: 10/10
  • Investment Choices: 6/10
  • Research Tools: 6/10
  • Account Options: 6/10
  • Customer Support: 9/10

Account Requirements and Fees:

  • Minimum Investment:
    • $1,000 for taxable accounts
  • Fees:
    • $0 for basic usage
  • Sign-up Bonus:
    • $30 after depositing at least $1,000
  • Fractional Shares:
    • Available

Personal Experience:

I started with M1 Finance in December 2018 by depositing $100 daily into a mix of small-cap and mid-cap ETFs. Over two years later, my portfolio has grown to approximately $45,000.

Use this link to obtain a $30 bonus upon depositing at least $1,000.

M1 Finance Plans:

  • Free Version: Ideal for basic investing needs.
  • M1 Plus (Paid): Costs $125 per year and provides additional features.

What is M1 Finance?

M1 Finance is a hybrid robo-investment brokerage that allows investors to create and customize their portfolios while automating investments.

Key Features:

  • No fees or commissions
  • Automated investing
  • Customizable portfolios with ETFs and stocks
  • Taxable and tax-advantaged accounts (IRA, Roth IRA)
  • Set-it-and-forget-it investing
  • Fractional shares and “slices”

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How Does M1 Finance Work?

M1 Finance allows investors to build and manage portfolios efficiently.

Steps:

  1. Create a “Pie” – A portfolio with up to 100 securities (stocks or ETFs).
  2. Select Expert Pies – Choose from 80 pre-built portfolios or customize your own.
  3. Set Up Automated Investing – Schedule deposits daily, weekly, or monthly.
  4. Enable Auto-Invest – Automatically invests any cash balance exceeding $25.
  5. Dividend Reinvestment – Automatically reinvests dividends once they reach $25.
  6. M1 Borrow (For M1 Plus Members) – Borrow up to 35% of your balance at a 3.5% interest rate.

M1 Finance Features:

Investment Options:

  • Minimum Investment: $100 (individual accounts), $500 (retirement accounts)
  • Fees: $0 commissions
  • Account Types:
    • Personal brokerage
    • Joint brokerage
    • Traditional IRA
    • Roth IRA
    • SEP IRA
    • Trust accounts
    • Custodial accounts
  • Referral Program: $30 bonus per referral
  • Automated Savings & Trading: Available on desktop, iOS, and Android

Customer Support:

  • Online chat for instant support
  • Phone support: 312-600-2883 (9 AM – 4 PM ET)
  • Email and help tickets available

M1 Plus Benefits:

  • Lower borrowing rate (2% instead of 3.5%)
  • Afternoon trading window
  • M1 Spend (1% interest and 1% cashback on debit purchases)

Getting Started with M1 Finance:

  1. Choose a Plan – Free or M1 Plus.
  2. Access the Platform – Via website or mobile app.
  3. Create an Account – Provide email and password.
  4. Build a Pie – Choose or customize a portfolio.
  5. Complete Account Setup – Select brokerage account type.
  6. Link a Payment Source – Fund investments (minimum deposit: $100).

How to Invest in M1 Finance:

Steps to Invest:

  1. Create a Pie – Select up to 100 ETFs or stocks.
  2. Assign Investment Percentages – Customize allocation.
  3. Set Auto-Invest Rules – Automatically rebalance your portfolio.
  4. Review and Save – Confirm investment settings.
  5. Automate Deposits – Schedule ongoing contributions.

Advantages and Disadvantages:

Pros:

  • Free investing with no commissions
  • Automated investment and rebalancing
  • Fractional shares for diversification
  • Customizable portfolios
  • Tax-advantaged accounts
  • Low borrowing rates with M1 Borrow

Cons:

  • Limited account types
  • No real-time trading control
  • Learning curve for beginners

Final Thoughts:

M1 Finance is an excellent platform for automated, commission-free investing. While it lacks real-time trading features, its customization and automation make it ideal for long-term investors. If you prefer hands-off investing, M1 Finance is worth considering.

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