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

M1 Finance and SoFi Invest 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 SoFi Invest (2026)
Feature M1 Finance SoFi Invest
Website https://www.m1finance.com/ https://www.sofi.com/invest/
Broker Type Self-directed discount brokerage Discount (self-directed online brokerage + robo-advisor)
Trading: Stock & ETF? Yes Yes
ETF & Stock commission $0 commission; $3/mo platform fee if assets <$10k (waived at $10k+ or with loan) $0 commissions
Fractional Shares? Yes (to 1/100,000th of a share) Yes ($5 min on select stocks/ETFs)
Percent Allocations? Yes (M1 Pies with custom target % allocations) No
Crypto Trading? Yes (Bakkt Crypto Account; BTC, ETH, LTC; US 18+) Yes. SoFi Crypto offers 28 cryptocurrencies (as of May 2026); requires SoFi Checking & Savings.
Crypto Fees Bakkt 1% (100 bps) on buys/sells (in exec. price); M1 $0 commission Tiered 1.90%/1.50%/1.25%/0.90% of trade value by monthly volume (<$1k/$1-5k/$5-10k/$10k+); possible ≤0.10% spread.
Options Trading? No Yes. Options trading available (long calls/puts, covered calls, cash-secured puts; 0DTE and IRAs).
Options Fee N/A $0 commissions and $0 contract fees. Regulatory fees apply (e.g., ORF $0.02, OCC $0.025 per contract).
Bond Trading Available? No No. Individual bonds not offered; exposure via bond ETFs and mutual funds only.
Receives payment for order flow (PFOF)? Yes (receives PFOF ~$0.002/share) Yes. Receives payment-for-order-flow revenue share via Apex Clearing.
Interface: Web trading? Yes (web m1.com and iOS/Android apps) Yes. Full trading on SoFi mobile app (iOS/Android) and sofi.com website.
Desktop trading? No No
API Trading? No No
Mutual Funds: Offered? No Yes
Total Mutual Funds None 6,800+
NTF Mutual Funds None 6,800
Non-NTF Fund Fee N/A 0.2% of purchase (max $20); 2% for interval/tender funds
Early Redemption Fee? N/A Yes (no SoFi short-term fee)
Redemption Hold (Days) N/A Fund-specific (CDSC varies by fund); no SoFi-imposed hold.
Early Redemption Fee N/A Fund-specific CDSC (varies); SoFi charges none (purchase tx fee 0.2% max $20).
Accounts: Margin Accounts? Yes; Individual/Joint brokerage accounts include M1 Margin Loan by default ($2,000 min equity). Not for IRAs. Yes (Self-Directed; apply, $2,000 min).
IRAs Offered? Yes; Traditional, Roth, and SEP IRAs available ($500 minimum). Yes: Traditional, Roth, and SEP IRAs.
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 (optional FDIC bank sweep via Apex).
CDs Offered? No No
Robo-Advisor: Offered No (self-directed Pies/auto-invest; optional non-discretionary M1 Advisory) Yes
Robo-Advisor Service M1 Pies (self-directed); M1 Advisory / M1 Advisor (AI, non-discretionary) SoFi Automated Investing (Robo Investing)
Robo-Advisor Fees $3/mo platform fee if <$10k assets (waived at $10k+ or Personal Loan); advisory currently 0% (up to 0.20%) 0.25% annual wrap/advisory fee plus fund expenses; $50 min.
Basics: Headquarters Chicago, IL San Francisco, CA
Year Founded 2015 2011
Clearing Firm M1 Finance LLC (self-clearing Individual/Joint); Apex Clearing (IRA/Trust/Custodial) Apex Clearing Corporation
Local Branches? No No
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