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

M1 Finance and SogoTrade 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 SogoTrade (2026)
Feature M1 Finance SogoTrade
Website https://www.m1finance.com/ https://www.sogotrade.com/
Broker Type Self-directed discount brokerage Discount (online self-directed)
Trading: Stock & ETF? Yes Yes
ETF & Stock commission $0 commission; $3/mo platform fee if assets <$10k (waived at $10k+ or with loan) $0 qualifying limit (100+ sh or ≥$2k principal, ≥$1/sh); $2.88 market/odd-lot/OTC
Fractional Shares? Yes (to 1/100,000th of a share) No
Percent Allocations? Yes (M1 Pies with custom target % allocations) No
Crypto Trading? Yes (Bakkt Crypto Account; BTC, ETH, LTC; US 18+) Yes, via Bakkt (individual non-retirement accounts; ~33 coins; all 50 US states, NY USDC restriction).
Crypto Fees Bakkt 1% (100 bps) on buys/sells (in exec. price); M1 $0 commission Greater of $1 or 1% of trade value (Bakkt); other account fees may apply.
Options Trading? No Yes.
Options Fee N/A $0 + $0.50 per contract online; $25 + $0.50 broker-assisted; plus ORF/OCC/regulatory fees.
Bond Trading Available? No Yes, broker-assisted only ($30 + $1 per bond, $250 max) for Treasuries, corporates, CDs.
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 (SogoTrade Pro web platform and mobile app).
Desktop trading? No No
API Trading? No No
Mutual Funds: Offered? No Yes, broker-assisted only
Total Mutual Funds None Not verified
NTF Mutual Funds None None
Non-NTF Fund Fee N/A $25 broker-assisted
Early Redemption Fee? N/A Not verified
Redemption Hold (Days) N/A not applicable
Early Redemption Fee N/A not applicable
Accounts: Margin Accounts? Yes; Individual/Joint brokerage accounts include M1 Margin Loan by default ($2,000 min equity). Not for IRAs. Yes
IRAs Offered? Yes; Traditional, Roth, and SEP IRAs available ($500 minimum). Yes
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). No
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) Power Portfolios
Robo-Advisor Fees $3/mo platform fee if <$10k assets (waived at $10k+ or Personal Loan); advisory currently 0% (up to 0.20%) 0.75%
Basics: Headquarters Chicago, IL New York, NY
Year Founded 2015 1986
Clearing Firm M1 Finance LLC (self-clearing Individual/Joint); Apex Clearing (IRA/Trust/Custodial) Apex Clearing
Local Branches? No No
New Account Minimum $100 (individual/joint taxable); $500 (IRAs) unavailable

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