M1 Finance vs Alpaca Comparison: Fees, Features, and More (2025)

M1 Finance and Alpaca are two leading discount brokerages offering commission-free stock and ETF trading. Use this head-to-head comparison table to evaluate fees, features, trading tools, and account options to help you decide which broker is right for you in 2025.

Head-to-Head Comparison: M1 Finance vs Alpaca (2025)
Feature M1 Finance Alpaca
Website https://www.m1finance.com/ https://alpaca.markets/
Broker Type Discount API-Only
Trading: Stock & ETF? Yes Yes
ETF & Stock commission No fee No fee
Fractional Shares? Yes Yes
Percent Allocations? Yes; M1 Pies Yes; via API
Crypto Trading? No Yes
Crypto Fees not applicable 0.35%
Options Trading? No No
Options Fee not applicable not applicable
Bond Trading Available? No No
Pays for Order Flow (PFOF)? Yes Yes
Interface: Web trading? Yes No
Desktop trading? No No
API Trading? No Yes; Alpaca Trading API
Mutual Funds: Offered? No No
Total Mutual Funds None None
NTF Mutual Funds None None
Non-NTF Fund Fee not applicable not applicable
Early Redemption Fee? not applicable not applicable
Redemption Hold (Days) not applicable not applicable
Early Redemption Fee not applicable not applicable
Accounts: Margin Accounts? Yes Yes
IRAs Offered? Yes No
HSAs Offered? No No
Money Market Sweep? No No
CDs Offered? Yes No
Robo-Advisor: Offered Yes No
Robo-Advisor Service none none
Robo-Advisor Fes not applicable not applicable
Basics: Headquarters Chicago, IL San Mateo, CA
Year Founded 2015 2018
Clearing Firm Apex Clearing Apex Clearing
Local Branches? No No
New Account Minimum $100 $0

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