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

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

Once you’ve chosen a broker, find high-performing, investable model portfolios at RecipeInvesting.com


Picked a Broker? Now Build Your Perfect Portfolio

Find high-performing, investable model portfolios (Tactical, Strategic, and Managed) at RecipeInvesting.com.

Get FREE Access
Recipe Investing Logo

Compare M1 Finance to All Brokers