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

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