M1 Finance
Overview
M1 Finance occupies a unique middle ground between a traditional brokerage and a robo-advisor. Built around the concept of "Pies," it is designed for long-term investors who want to build a diversified portfolio and then put it on autopilot. Unlike active trading platforms, M1 does not encourage frequent buying and selling; instead, it uses sophisticated automation to rebalance your portfolio dynamically with every deposit. It is the ultimate "set it and forget it" tool for self-directed investors.
Key Specifications
| Account Minimum | $100 ($500 for Retirement Accounts) |
|---|---|
| Platform Fee | $3/month (Waived if aggregate assets exceed $10,000 or with an active Personal Loan) |
| Stock & ETF Trade Fee | $0 |
| Options Fee | N/A (Options trading not supported) |
| Fractional Shares | Yes (Automatic for all "Pie" holdings) |
| Margin Rates | ~5.65% (Variable) / M1 Borrow available at 2,000+ equity |
Trading Platforms
1. M1 Mobile App
The app is visually distinct from any other broker. Your portfolio is represented as a "Pie," where each "Slice" is a stock, ETF, or even another sub-Pie. The interface focuses on target allocations rather than daily price changes. There are no streaming charts or Level 2 data, reinforcing the long-term focus.
2. M1 Web Dashboard
The web platform offers a larger canvas to build and edit your Pies. In 2026, the dashboard includes expanded **Concentration Analysis** tools, helping you identify hidden risks where different Pies might overlap in the same underlying stocks.
Investment Features
- The Pie System: Allows you to build highly complex portfolios with ease. You can create a "Tech Pie" and make it just one slice (e.g., 20%) of your main portfolio.
- M1 Earn (High-Yield Cash): As of early 2026, the base rate is 3.10% APY, but new accounts can lock in a 3.75% APY boost for 12 months with a qualifying deposit.
- M1 Borrow: Instantly borrow against up to 50% of your portfolio value. It’s integrated directly into your workflow, allowing you to use your portfolio as a flexible line of credit.
- Smart Transfers: Set "if/then" rules for your money. For example: "If my cash balance exceeds $5,000, move the excess to my Roth IRA until maxed, then sweep the rest into my Taxable Pie."
Account Types
M1 supports a comprehensive range of accounts for the modern investor:
- Individual & Joint Brokerage
- Traditional, Roth, & SEP IRAs
- Custodial Accounts (UTMA/UGMA)
- Trust Accounts (requires $5,000 minimum)
- Crypto Accounts (dedicated Slices for digital assets)
- Individual & Joint High-Yield Cash Accounts