M1 Finance: Fees, Features, and More (2026)

M1 Finance streamlines long‑term wealth building through its signature “Pie” system: investors set percentage allocations across fractional shares of stocks and ETFs, and the platform automatically rebalances with each deposit—without advisory fees. Margin borrowing (M1 Borrow) is built‑in, IRAs are supported, and accounts open with just $100. While options, mutual funds, and bonds are absent, the pie‑based interface offers a unique blend of DIY control and robo‑style automation for hands‑off portfolio management.

Detailed feature breakdown for M1 Finance brokerage (2026)
Feature
Website https://www.m1finance.com/
Broker Type Self-directed discount brokerage
Trading: Stock & ETF? Yes
ETF & Stock commission $0 commission; $3/mo platform fee if assets <$10k (waived at $10k+ or with loan)
Fractional Shares? Yes (to 1/100,000th of a share)
Percent Allocations? Yes (M1 Pies with custom target % allocations)
Crypto Trading? Yes (Bakkt Crypto Account; BTC, ETH, LTC; US 18+)
Crypto Fees Bakkt 1% (100 bps) on buys/sells (in exec. price); M1 $0 commission
Options Trading? No
Options Fee N/A
Bond Trading Available? No
Receives payment for order flow (PFOF)? Yes (receives PFOF ~$0.002/share)
Interface: Web trading? Yes (web m1.com and iOS/Android apps)
Desktop trading? No
API Trading? No
Mutual Funds: Offered? No
Total Mutual Funds None
NTF Mutual Funds None
Non-NTF Fund Fee N/A
Early Redemption Fee? N/A
Redemption Hold (Days) N/A
Early Redemption Fee N/A
Accounts: Margin Accounts? 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 available ($500 minimum).
HSAs Offered? No
Money Market Sweep? Yes; High-Yield Cash Account has FDIC bank sweep. Invest-account cash does not auto-sweep (transfer required).
CDs Offered? No
Robo-Advisor: Offered No (self-directed Pies/auto-invest; optional non-discretionary M1 Advisory)
Robo-Advisor Service M1 Pies (self-directed); M1 Advisory / M1 Advisor (AI, non-discretionary)
Robo-Advisor Fees $3/mo platform fee if <$10k assets (waived at $10k+ or Personal Loan); advisory currently 0% (up to 0.20%)
Basics: Headquarters Chicago, IL
Year Founded 2015
Clearing Firm M1 Finance LLC (self-clearing Individual/Joint); Apex Clearing (IRA/Trust/Custodial)
Local Branches? No
New Account Minimum $100 (individual/joint taxable); $500 (IRAs)

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