Minimum order size | M1 Help Center (2024)

FAQs

Minimum order size | M1 Help Center? ›

Minimum order size is $1.

With M1, you'll need to maintain an account minimum of $100 for the brokerage account and $500 for retirement accounts. These figures may seem nominal, but many other brokers we review require no minimum for opening or maintaining accounts.

Commissions and Fees

Rather, M1 makes money through interest, payment for order flow, lending securities, and a $3 monthly fee for accounts less than $10,000 without an active M1 Personal Loan.

For certain investors, these M1 disadvantages could rule out the platform. M1 has limited investment options. The platform lacks individual bonds, mutual funds, and options trading. There are 8,000 stocks on the NYSE and over 3,000 ETFs and M1 offers access to 6,000 stocks and ETFs.

Unlike M1 Finance, Robinhood doesn't offer joint or custodial accounts. For that reason, M1 Finance might be a better fit for investors with complex tax or ownership situations.

Costs. ‌M1 Finance doesn't charge trading, commission, or portfolio management fees. However, you can upgrade from the free Basic to the Plus plan, which costs $3 monthly.

In a nutshell. M1 Finance may be the heavyweight champion among self-directed investing platforms. M1 finance is an industry leader in low-fees and a wide variety of investment options. You can open both taxable and tax-advantaged accounts, like traditional and Roth IRAs.

Both M1 Finance and Vanguard offer zero-commission trades and low or zero fees. Vanguard has a few more account types than M1 Finance, notably Solo 401(k), SIMPLE IRA, and 529. M1 Finance offers most ETF's and individual stocks. Vanguard offers ETF's, individual stocks, their own mutual funds, and options contracts.

There's a $100 fee for an account transfer (I assume that's full or partial) and a $100 fee for IRA termination.

If you want the best features of a robo-advisor experience, but with extra flexibility for hands-on investing, consider M1. Fees: $0 commissions and no management fee. M1 Plus membership costs $3 per month.

Is M1 Finance FDIC insured? ›

Just like savings accounts offered by big banks, M1 High-Yield Savings Accounts are backed by FDIC insurance.

At M1 Finance, we will always make our best attempt to execute all buy and sell orders. M1's automated trading includes all buy and sell orders during the first trade window after submission. You can always see your pending trades by following these steps: Go to your Portfolio tab.

All M1 Individual and Joint Brokerage Accounts come with a margin feature by default. Traditional, Roth, and SEP IRAs and Custodial Accounts are not eligible for Margin Loans. Trust Accounts without a Margin and Short Agreement are not eligible for Margin Loans.

Obtaining stated APY requires a minimum initial deposit of $100. APY is solely determined by M1 Finance LLC and its partner banks, and will include administrative and account fees that may reduce earnings. Rates are subject to change without notice.

Stated APY (annual percentage yield) with the M1 High-Yield Cash Account is available from date of account opening and is accrued on account balance. Obtaining stated APY requires a minimum initial deposit of $100.

Answer and Explanation:

So, when a person withdraws a $500 from its savings account and puts it in its checking account, it will raise the level of the M1 money supply. But, the level of M2 money supply remains the same.