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

SogoTrade 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: SogoTrade vs M1 Finance (2026)
Feature SogoTrade M1 Finance
Website https://www.sogotrade.com/ https://www.m1finance.com/
Broker Type Discount (online self-directed) Self-directed discount brokerage
Trading: Stock & ETF? Yes Yes
ETF & Stock commission $0 qualifying limit (100+ sh or ≥$2k principal, ≥$1/sh); $2.88 market/odd-lot/OTC $0 commission; $3/mo platform fee if assets <$10k (waived at $10k+ or with loan)
Fractional Shares? No Yes (to 1/100,000th of a share)
Percent Allocations? No Yes (M1 Pies with custom target % allocations)
Crypto Trading? Yes, via Bakkt (individual non-retirement accounts; ~33 coins; all 50 US states, NY USDC restriction). Yes (Bakkt Crypto Account; BTC, ETH, LTC; US 18+)
Crypto Fees Greater of $1 or 1% of trade value (Bakkt); other account fees may apply. Bakkt 1% (100 bps) on buys/sells (in exec. price); M1 $0 commission
Options Trading? Yes. No
Options Fee $0 + $0.50 per contract online; $25 + $0.50 broker-assisted; plus ORF/OCC/regulatory fees. N/A
Bond Trading Available? Yes, broker-assisted only ($30 + $1 per bond, $250 max) for Treasuries, corporates, CDs. No
Receives payment for order flow (PFOF)? Yes Yes (receives PFOF ~$0.002/share)
Interface: Web trading? Yes (SogoTrade Pro web platform and mobile app). Yes (web m1.com and iOS/Android apps)
Desktop trading? No No
API Trading? No No
Mutual Funds: Offered? Yes, broker-assisted only No
Total Mutual Funds Not verified None
NTF Mutual Funds None None
Non-NTF Fund Fee $25 broker-assisted N/A
Early Redemption Fee? Not verified N/A
Redemption Hold (Days) not applicable N/A
Early Redemption Fee not applicable 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 Yes; Traditional, Roth, and SEP IRAs available ($500 minimum).
HSAs Offered? No No
Money Market Sweep? No 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 Power Portfolios M1 Pies (self-directed); M1 Advisory / M1 Advisor (AI, non-discretionary)
Robo-Advisor Fees 0.75% $3/mo platform fee if <$10k assets (waived at $10k+ or Personal Loan); advisory currently 0% (up to 0.20%)
Basics: Headquarters New York, NY Chicago, IL
Year Founded 1986 2015
Clearing Firm Apex Clearing M1 Finance LLC (self-clearing Individual/Joint); Apex Clearing (IRA/Trust/Custodial)
Local Branches? No No
New Account Minimum unavailable $100 (individual/joint taxable); $500 (IRAs)

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