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M1 Finance Review 2021: Best Investing Features, Pros and Cons

M1 Finance is a hybrid online brokerage and robo-advisor offering a highly customizable investing experience for the DIY investor. It’s made our best micro-investing app list too.

Pricing and Fees - 10
Ease of Use - 9
Tools and Resources - 8


Our Score

M1 Finance is best if you enjoy both guidance and control with the ability to customize your investment portfolio.

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M1 Finance Review Summary

With M1 Finance, you can create portfolios containing low-cost ETFs, individual stocks, or both.

M1 is unique in offering Pies–a capability to copy 80 expert investors or create your own. No minimum and no fees. Borrow from a flexible portfolio line of credit. Access cash and spend with an M1 checking account and debit card.

What is M1 Finance?

M1 Finance is a money management platform focused on helping you invest, borrow and spend your money. Over 500,000 investors choose to automate with M1 using intelligent tools, expert portfolios, and a DIY approach for the buy-and-hold investor.

>> Get started with M1 Finance

Full Review

M1 Finance is a legitimate and trusted online brokerage and robo-advisor app helping hundreds of thousands of people. Investing may be challenging for many, but M1 enables users a hybrid experience that keeps you with some control. Choose to build your own portfolio or simply copy the expert portfolios. Let M1 do the rest.

With M1, you choose the investments that go into your portfolio through automation and they do all the day-to-day management of your portfolio including rebalancing. In this M1 Finance review, you’ll learn about the pros and cons, and key features to determine if it’s the right investment tool.

M1 Finance Features

M1 Finance shines with a user-friendly interface, automation, and Pies. Got to love the pies!

  • Free – no broker fees or commissions on trades
  • No minimum deposit – although $100 gets you started investing
  • Pies – copy the portfolio of expert investors or create your own
  • Automation – set up recurring deposits that automatically gets invested into your pie.
  • Invest – ETFs, individual stocks, and fractional share

Securities in M1 Invest accounts are insured up to $500,000 by the SIPC. M1 Spend checking accounts may be insured up to $250,000 by FDIC insurance.

M1 Finance Products

The M1 Basic account includes:

  • Invest – Individual, joint, retirement, and trust accounts. View M1 Invest
  • Borrow – Flexible portfolio line of credit with just $10,000 invested.
  • Spend – A checking account and debit card.

M1 offers the M1 Plus Account with key features including investing flexibility to invest in the morning or afternoon, borrow at 2%, spend and earn 1% cashback.


  • M1 Basic – Free
  • M1 Plus – $125 / year

Pros & Cons

✓ Free with no trading commissions or broker fees.
✓ Copy expert portfolios or create your own
✓ Automate investments
✓ Rebalancing
✓ Integrated offerings including borrowing and spend
☓ Not suited for active traders. No tax-loss harvesting

Who is it best for?

M1 Finance is best if you enjoy both guidance and control with the ability to customize your investment portfolio. It’s not ideal for those who are active traders and want to buy-and-sell frequently. 

How to start an M1 Finance account

Time needed: 5 minutes.

Step-by-Step to opening an account with M1 Finance

  1. Getting started

    Click to get started with M1 with no minimum deposit.

  2. Choose your Pies

    Choose your expert Pies or create your own.

  3. Enter your personal information

    Connect your existing bank account

M1 Finance Review: Is M1 Right for You?

In this M1 Finance review, you’ve learned some key features and the pros and cons to decide for yourself if it’s right for you.

M1 Finance serves over 500,000 members and is legitimate and tested investing platform. The integrated app offering makes investing and spending simpler.

The two best things about M1 are the no fees and Pies. You can simply follow 80 experts’ chosen investments or create your own. With simple automation, you can set up deposits into your account that invests in your portfolio.

You can do a lot with the Basic package, but if you prefer to have more active trading and get cashback then the Plus package may serve your well.

Discover other investing app alternatives in the financial marketplace for the best investing app for you.

>> Get started with M1 Finance

M1 InvestM1 SpendM1 BorrowRetirement & Trusts
Use Pies to InvestIndividual checking account and debit card.Portfolio Line of CreditTax-advantaged accounts and trusts.
Get StartedGet StartedGet StartedGet Started

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