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M1 Finance
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M1 Finance

Mobile friendly

Trustpilot Rating

Reviews 14




Entity type

Money Service Business

Client type




United States of America



Employee Count


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Asset ManagementCard providersCredit cardsLoansSafeguarding/Custiodian AccountsSavings AccountWire Transfer AcceptanceUS allowed

Total Score

Pricing of the services


Social media presence


Popularity of the service


Onboarding difficulty


Support quality


About M1 Finance

M1 Finance is a hybrid investment, cash management, robo advisor, and lending platform designed for buy-and-hold investors. M1 Finance sets itself apart from the robo-advisory crowd primarily through its pricing. Not only do stocks and ETFs trade commission-free, but users pay nothing for AUM with a standard account. M1 Finance also offers convenient banking services with M1 Spend, and users can even borrow against their investments with M1 Borrow.


Setup Fee

Monthly Maintenance Fee

SEPA Incoming

SEPA Outgoing

SWIFT Incoming

SWIFT Outgoing

FX Fee


  • USD

    (United States dollar)

Additional Requirements

  • 18 years of age or older, U.S. Permanent Residents and U.S. citizens residing in the U.S. only

Trustpilot reviews


May 10, 2022

Deceitful Service.

Complete deceit, reeling innocent people in with small payouts. You have been warned steer clear write complain to scam-report-con-sensus


Apr 4, 2022

hi i had sent a transfer on mar 29th …

hi i had sent a transfer on mar 29th for $20 it has not moved. gustave wandland


Mar 4, 2022

Getting Money Out Is Nearly Impossible

Pros: Simple setup, good concept, easy to use. Cons: Getting your money out. I have a Roth IRA with M1. It has taken 7 weeks now to roll my money out to another Roth IRA. First, they didn't liquidate my entire portfolio after I said to sell 100% of the assets. Second, they "never received" the rollover request from the requesting institution, even though the requester got a confirmation receipt. Third, M1 and their custodian Apex Clearing gave me the customer service run around about who I needed to speak with. I finally got a senior CS rep who has been helpful but has no power to make anything happen. M1 finally liquidated the $3 that was holding up my rollover after 5 days. I had the requester re-send the request. No action again. Took me reaching out 2x more times for a status. Now I'm being told I need a Medallion signature, which I have previously twice clarified if it was needed and was told no. Still not complete with this. Requests have been sent 5x now and always a different reason they can't complete it. Wondering if Apex is insolvent at this point. I would never recommend M1/Apex again after this. I now have to go through this whole mess again to get my wife's Roth out. I feel bad that I recommended to other family members as well. Thankfully the market hasn't been on a run the last 7 weeks, otherwise, I'd be losing my mind. TL;DR: Fine if you never need your money out of M1. Process to get money out is a disaster.


Feb 10, 2022

M1 Finance does not honor its…promotions

M1 Finance does not honor its promotions such as its $500 bonus for new users. Not only that, I found out M1 Finance charges customers who wish to close their accounts. Google M1 Finance reviews and you will see what others think of M1 Finance. Moving from the invest to spend sections of the site took weeks and lots of help from M1. According to the latest terms and conditions on M1s site it also invalidates the promotion. A rep there told me they have a similar promotion whereby I need to move money to M1 Finance from another brokerage firm. I guess they'd charge me to move funds to another brokerage firm, the funds would be on hold for a few days at the other brokerage firm, I'd have to fill out a transfer request form at the other brokerage firm, it would take weeks to arrive at M1 Finance, and the funds would be in limbo for a few weeks at M1 Finance before they are even accessible. When I email support about closing the account without fees, they tell me I am ineligible for the promotion.


Jan 19, 2022

One Star for the reward to become a…

One Star for the reward to become a customer and/or refer others into this suck institution. You may deposit a small amount of money, finally figure out the confusion of their simplistic methods. However, if ever you want to close the account AVOID $100 FEE to transfer to another Broker. As-well-as the $25 FEE for drafting a check to get your money. See their long list of fees, including $20 FEE for Inactivity after you get tired of even trying to "invest" at this so-called broker. Google: M1 Finance Fees Save yourself time and money as I wish I did.


Nov 16, 2021

This is not a brokerage for serious investors

This is not a brokerage for serious investors. The "pie" system forces you to make allocations into stocks that maybe you don't want to, exiting a position cannot be done cleanly (you have to jump through a series of hoops over several days to exit a position and redeploy the cash), and M1 will execute trades you do not want, such as what they just did to me: selling shares I just received in a spin-off without any warning because they didn't give me a chance to add the stock to my "pie". I will be ending my business with M1 at the earliest opportunity and going with a real brokerage that allows true freedom to invest as I see fit. This one is all about making things look flashy and cool, but all they've done is overthink and overcomplicate things; The people behind M1 attempted to reinvent the wheel and ended up with a square. I made a big mistake when I placed capital with this outfit.


Oct 25, 2021

I tried the platform and I didn't like…

I tried the platform and I didn't like it so I tried transferring my accounts to another brokerage. I have 2 accounts and they are charging me $100 for each account transfer and an additional $100 dollars to close each account. And if you don't close the account you will be charged additional monthly fees. I have been with 5 different brokerages over the years and I've never paid a penny in transfer fees or for closing an account.

Finscanner is an independent digital platform aiming to provide up-to-date access to worldwide financial services to improve customer experience and boost transactions.

On this page, you can see a detailed review of M1 Finance Payment systems with reviews from real users and our experts. M1 Finance provides the following services: Asset Management, Card providers, Credit cards, Loans, Safeguarding/Custiodian Accounts, Savings Account, Wire Transfer Acceptance, US allowed.

At the moment, M1 Finance rating on Finscanner is 4 and on Trustpilot is 2.2.