![]() M1 Finance does not charge any commission on trades placed on the platform and there are no fees to invest with them. ![]() Many of these other brokerages charge fees as well as trading commissions to customers. While others might eventually follow suit, M1 Finance is currently one of the only brokerage accounts out there offering completely free retirement accounts. M1 Finance offers completely fee free Roth IRAs with a minimum balance of just $500. The first tier of companies makes 2.5% cashback, the second 5.0%, and the third 10.0%. Companies such as Walmart, Amazon, and Netflix are all on the list. There are over 70+ participating companies. However, if you own stock with the company that you are making a purchase with, then you can qualify for more, up to 10%. This credit card offers members up to 10% cashback! All purchases provide 1.5% cashback. All M1 members can apply for this card and Plus members get the annual fee waived! Without a Plus membership, this card has an annual fee of $95. In addition to a debit card, M1 also offers a credit card, called the Owner's Rewards Credit Card. M1 Finance is a completely free investing platform! M1 Credit Card You can minimize these fees by purchasing low fee index funds from companies like Vanguard or BlackRock. The only fees you pay are the fees associated with any ETFs you invest in. M1 Finance focuses on low-cost passive investing with additional features such as automatic rebalancing of your portfolio and tax minimization strategies. Say goodbye to the three-day transfer when moving funds to your brokerage account! With M1 Spend, you can funnel money into M1 Invest that same day. For those who are interested, they offer a premium service called M1 Plus where you can get a cashback debit card. ![]() Now, with the addition of M1 Spend, you can have a checking account with them allowing you to earn interest while having your money ready on the sidelines to invest. In general, this is used by more advanced investors because it involves an increased level of risk. You can also use M1 Borrow to invest on margin and magnify your portfolio returns and losses. The interest rate starts at 5.0%, though M1 Plus members get 3.5%. If you do not repay the loan, M1 Finance gets to keep your assets and sell them to repay it. The interest rates through M1 Borrow are much lower than a traditional loan since your assets are backing it. The securities in your account serve as collateral. This could be used for something like a home repair or even medical bills. Through M1 Borrow, you can get a low-interest loan borrowing against the securities in your M1 Invest account. There are also a few other features offered. When your cash balance exceeds $10, that money is automatically invested across your entire portfolio! The auto-invest feature also makes it a perfect platform for dollar cost averaging. They are also very popular among dividend investors, who love the portfolio level DRIP and automated portfolio rebalancing feature. M1 Finance has become the go-to app for the modern-day passive investor.
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