Summary
M1 Finance is a financial platform that focuses on automated investing in stocks and cryptocurrencies, offering high-yield cash accounts and a credit card with rewards. It aims to simplify wealth building through automated strategies and provides options for borrowing against investment portfolios.
Features5/12
See allMust Have
2 of 5
Commission-Free Stock Trading
Bitcoin Trading
Instant P2P Transfers
Prepaid Debit Card (Cash App Card)
Early Direct Deposit
Other
3 of 7
Fraud Monitoring & Security
High-Yield Savings
Instant Discounts & Offers
Round-Up Savings
Pay Over Time (Afterpay)
Customizable Card Designs
ATM Access & Fee Reimbursement
PricingFreemium
See allM1 High-Yield Cash Account
- 4.00% APY on uninvested cash
- FDIC-insured up to $4.75 million
- Instant transfers within M1
- Unlimited withdrawals
- Daily ACH transfer limit of $120,000 (or $50,000 as per another section)
- Individual and Joint accounts available
- Requires an open M1 Investment account
- M1 is not a bank
- APY includes administrative and account fees that may reduce earnings
- Not linked to M1 High Yield Savings Accounts
M1 Brokerage Accounts (Individual/Joint/Custodial/Retirement/Trust)
- Commission-free stock and ETF trading
- Automated investing with M1 Pie
- Dynamic rebalancing
- Dividend reinvestment (DRIP)
- Access to M1 Margin Loans (borrow up to 50% of portfolio value)
- SIPC protection up to $500,000
- $3 monthly platform fee for clients with less than $10,000 in M1 assets or without an active Personal Loan
- Trades executed during scheduled trade windows (not real-time)
- Margin loans available on accounts with at least $2,000 invested
- Not available for Retirement and Custodial accounts for margin loans
M1 Margin Loans
- Borrow up to 50% against eligible securities
- Get cash to invest or spend
- Requires a taxable brokerage account with over $2,000
- Not all securities are available for margin loans
- Amount that may be borrowed against a security is subject to change without notice
- Not available for Retirement and Custodial accounts
Owner’s Rewards Card by M1
- Tiered credit card rewards (up to 10% cash back)
- Credit Card not available for US Territory Residents
- Subject to a maximum of $200 cash back in aggregate per calendar month
- Exclusions may apply
Rationale
M1 Finance offers commission-free stock trading and bitcoin trading, aligning with two must-have features. It also provides high-yield cash accounts (savings with interest), fraud monitoring, and a credit card with cash back rewards (instant discounts & offers). However, it lacks direct peer-to-peer transfers, a prepaid debit card, and early direct deposit, which are core to the Cash App concept.
