Firstrade vs M1 Finance Comparison: Fees, Features, and More (2026)

Firstrade and M1 Finance 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 2026.

Head-to-Head Comparison: Firstrade vs M1 Finance (2026)
Feature Firstrade M1 Finance
Website https://www.firstrade.com/ https://www.m1finance.com/
Broker Type Discount (self-directed online brokerage) Self-directed discount brokerage
Trading: Stock & ETF? Yes Yes
ETF & Stock commission $0 online ($19.95 broker-assisted) $0 commission; $3/mo platform fee if assets <$10k (waived at $10k+ or with loan)
Fractional Shares? Yes (most U.S. stocks/ETFs; $5 min) Yes (to 1/100,000th of a share)
Percent Allocations? No Yes (M1 Pies with custom target % allocations)
Crypto Trading? No Yes (Bakkt Crypto Account; BTC, ETH, LTC; US 18+)
Crypto Fees N/A Bakkt 1% (100 bps) on buys/sells (in exec. price); M1 $0 commission
Options Trading? Yes No
Options Fee $0 commission and $0/contract; plus pass-through ORF (~$0.02/contract from Jul 2026) and SEC sell fees N/A
Bond Trading Available? Yes (web only; net yield basis/markup) No
Receives payment for order flow (PFOF)? Yes Yes (receives PFOF ~$0.002/share)
Interface: Web trading? Yes Yes (web m1.com and iOS/Android apps)
Desktop trading? No No
API Trading? No No
Mutual Funds: Offered? Yes No
Total Mutual Funds 11,000+ None
NTF Mutual Funds 11,000+ None
Non-NTF Fund Fee $0 online; $19.95 broker-assisted (no-load) N/A
Early Redemption Fee? No ($19.95 if held <90 days) N/A
Redemption Hold (Days) 90 days N/A
Early Redemption Fee $19.95 N/A
Accounts: Margin Accounts? Yes (approval; $2,000 min assets; not IRAs/custodial/ESA) Yes; Individual/Joint brokerage accounts include M1 Margin Loan by default ($2,000 min equity). Not for IRAs.
IRAs Offered? Yes (Traditional, Roth, SEP, SIMPLE, Rollover) Yes; Traditional, Roth, and SEP IRAs available ($500 minimum).
HSAs Offered? No No
Money Market Sweep? Yes (FDIC sweep via Apex; 0.15%; not margin/SIMPLE IRA/ESA) Yes; High-Yield Cash Account has FDIC bank sweep. Invest-account cash does not auto-sweep (transfer required).
CDs Offered? Yes (primary $30; secondary net yield) No
Robo-Advisor: Offered No No (self-directed Pies/auto-invest; optional non-discretionary M1 Advisory)
Robo-Advisor Service N/A M1 Pies (self-directed); M1 Advisory / M1 Advisor (AI, non-discretionary)
Robo-Advisor Fees N/A $3/mo platform fee if <$10k assets (waived at $10k+ or Personal Loan); advisory currently 0% (up to 0.20%)
Basics: Headquarters Flushing, NY Chicago, IL
Year Founded 1985 2015
Clearing Firm Apex Clearing Corporation M1 Finance LLC (self-clearing Individual/Joint); Apex Clearing (IRA/Trust/Custodial)
Local Branches? Yes (Flushing, NY HQ office, Mon-Fri 10am-4pm ET); no nationwide network No
New Account Minimum $0 $100 (individual/joint taxable); $500 (IRAs)

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