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

Robinhood 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: Robinhood vs M1 Finance (2026)
Feature Robinhood M1 Finance
Website https://robinhood.com/ https://www.m1finance.com/
Broker Type Online discount brokerage (mobile app, web, Legend) Self-directed discount brokerage
Trading: Stock & ETF? Yes Yes
ETF & Stock commission $0 commissions (SEC/FINRA sell fees may apply) $0 commission; $3/mo platform fee if assets <$10k (waived at $10k+ or with loan)
Fractional Shares? Yes ($1 min; most NMS stocks/ETFs) Yes (to 1/100,000th of a share)
Percent Allocations? No Yes (M1 Pies with custom target % allocations)
Crypto Trading? Yes (US-wide via Robinhood Crypto, LLC; all states, DC, PR, USVI) Yes (Bakkt Crypto Account; BTC, ETH, LTC; US 18+)
Crypto Fees MM routing: $0 commissions (RH rebate in spread); exchange routing: 0.00-0.95% volume-tiered maker/taker; transfers $0 + network fees Bakkt 1% (100 bps) on buys/sells (in exec. price); M1 $0 commission
Options Trading? Yes No
Options Fee $0 commissions for stock/ETF options; $0.35 Gold/$0.50 non-Gold per index contract plus regulatory/exchange fees N/A
Bond Trading Available? No (individual bonds/fixed-income not supported; bond ETFs/CEFs available) No
Receives payment for order flow (PFOF)? Yes (receives PFOF/rebates from market makers for equities, options, and crypto) Yes (receives PFOF ~$0.002/share)
Interface: Web trading? Yes (web including Legend browser platform; iOS/Android mobile apps) Yes (web m1.com and iOS/Android apps)
Desktop trading? No; Robinhood Legend is a free browser-based (web) platform, not downloadable. No
API Trading? Yes for crypto (official US Crypto Trading API); no official stocks/equities trading API. No
Mutual Funds: Offered? No No
Total Mutual Funds 0 None
NTF Mutual Funds 0 None
Non-NTF Fund Fee N/A N/A
Early Redemption Fee? N/A N/A
Redemption Hold (Days) N/A N/A
Early Redemption Fee N/A N/A
Accounts: Margin Accounts? Yes Yes; Individual/Joint brokerage accounts include M1 Margin Loan by default ($2,000 min equity). Not for IRAs.
IRAs Offered? Yes (Traditional and Roth; no SEP) Yes; Traditional, Roth, and SEP IRAs available ($500 minimum).
HSAs Offered? No No
Money Market Sweep? Yes Yes; High-Yield Cash Account has FDIC bank sweep. Invest-account cash does not auto-sweep (transfer required).
CDs Offered? No No
Robo-Advisor: Offered Yes (Robinhood Strategies hybrid managed portfolios) No (self-directed Pies/auto-invest; optional non-discretionary M1 Advisory)
Robo-Advisor Service Robinhood Strategies M1 Pies (self-directed); M1 Advisory / M1 Advisor (AI, non-discretionary)
Robo-Advisor Fees 0.25% AUM/yr; Gold ($5/mo): 0% over $100k ($250/yr cap). $50 min. ETF expenses extra. $3/mo platform fee if <$10k assets (waived at $10k+ or Personal Loan); advisory currently 0% (up to 0.20%)
Basics: Headquarters Menlo Park, CA Chicago, IL
Year Founded 2013 2015
Clearing Firm Robinhood Securities, LLC M1 Finance LLC (self-clearing Individual/Joint); Apex Clearing (IRA/Trust/Custodial)
Local Branches? No No
New Account Minimum $0 $100 (individual/joint taxable); $500 (IRAs)

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