M1 Finance occupies a unique space in the brokerage world. It’s not a traditional brokerage where you place individual trades, and it’s not a robo-advisor where algorithms choose your investments. Instead, M1 lets you build a custom portfolio (“pie”), then automates the buying, selling, and rebalancing to maintain your target allocations. Add in competitive margin rates and an integrated banking experience, and M1 is unlike anything else on the market. This review covers everything M1 offers in 2026.
Bottom line: M1 Finance is best for disciplined buy-and-hold investors who want full control over their portfolio composition with the convenience of automated rebalancing. If you want to trade actively or need real-time execution, look elsewhere.
M1 Finance at a Glance
Feature
Details
Stock/ETF commissions
$0
Trading windows
1/day (free), 2/day (M1 Plus)
Options
Not available
Crypto
Yes (limited selection)
Account minimum
$100 (taxable), $500 (retirement)
Fractional shares
Yes (automatic, down to $0.01)
Management fee
$0
M1 Plus
$10/month or $95/year
Margin rates
6.75% (standard), 5.25% (Plus)
Mobile app
4.7/5 (iOS), 4.3/5 (Android)
Customer service
Email, in-app chat (phone for Plus)
Physical locations
None
How Pie Investing Works
The Pie System
Create a pie — Choose stocks, ETFs, or pre-built expert pies
Set allocations — Assign a target percentage to each holding (must total 100%)
Deposit money — M1 automatically buys fractional shares to match your targets
Automatic rebalancing — New deposits go to underweight slices; withdrawals come from overweight slices
Manual rebalance — One-click rebalance to snap back to targets
Example Three-Fund Pie
Slice
ETF
Target Allocation
US Total Market
VTI
60%
International
VXUS
30%
US Bonds
BND
10%
When you deposit $500, M1 buys $300 of VTI, $150 of VXUS, and $50 of BND. If VTI grows faster and becomes 65% of your portfolio, subsequent deposits are directed more heavily toward VXUS and BND until balance is restored.
Pre-Built Expert Pies
Category
Examples
General investing
Aggressive growth, moderate, conservative
Retirement by decade
Target 2030, 2040, 2050, 2060
Income-focused
Dividend aristocrats, bond ladders
Socially responsible
ESG-focused ETFs
Hedge fund followers
Replicate famous investor portfolios
Sector-specific
Tech, healthcare, real estate
You can use expert pies as-is, modify them, or nest them inside your own pie as sub-pies.
Accounts Available
Account Type
Available
Notes
Individual brokerage
✅
$100 minimum
Joint brokerage
✅
$100 minimum
Traditional IRA
✅
$500 minimum
Roth IRA
✅
$500 minimum
SEP-IRA
✅
$500 minimum
SIMPLE IRA
❌
—
Solo 401(k)
❌
—
529 plan
❌
—
HSA
❌
—
Custodial (UGMA/UTMA)
✅
—
Trust
✅
—
M1 Earn (checking)
✅
1.50% APY (3.30% Plus)
M1 Plus Membership
Feature
Standard (Free)
M1 Plus ($10/month)
Trading windows
1/day (morning)
2/day (morning + afternoon)
Margin rate (M1 Borrow)
6.75%
5.25%
Cash APY (M1 Earn)
1.50%
3.30%
Credit card rewards
1.5%
10% on select + 1.5% all else
Phone support
❌
✅
Smart transfers
❌
✅
Extra research tools
❌
✅
Annual cost
$0
$95/year
Is M1 Plus Worth $95/Year?
Scenario
Worth It?
Why
Borrowing on margin ($10K+)
Yes
1.5% rate reduction saves $150+/year
$5,000+ in M1 Earn checking
Yes
Extra 1.8% APY = $90+ interest
Active enough to want PM trading window
Maybe
Depends on trading frequency
Small portfolio, no borrowing
No
Benefits don’t offset cost
M1 Borrow (Margin)
Feature
Details
Borrow limit
Up to 40% of taxable portfolio
Standard rate
6.75%
M1 Plus rate
5.25%
Minimum to borrow
$2,000 portfolio balance
Repayment
Flexible — no set schedule
Use restrictions
None — use for any purpose
Margin Rate Comparison
Brokerage
Margin Rate (typical)
M1 Finance (Plus)
5.25%
M1 Finance (standard)
6.75%
Interactive Brokers
5.83-6.83%
Fidelity
8.25-12.575%
Schwab
8.50-13.575%
Robinhood (Gold)
5.75%
E*TRADE
9.20-13.70%
M1’s margin rates are among the lowest in the industry, making M1 Borrow competitive for portfolio-backed borrowing.
App and Platform Experience
Mobile App
Feature
Rating
Pie visualization
Excellent — intuitive circular display
Portfolio tracking
Very good — clear performance data
Deposits / rebalancing
Very good — one-tap actions
Research tools
Below average — limited stock info
Trading interface
Good (automated, not manual)
Banking integration
Good — M1 Earn account
Overall
4.0/5
Web Platform
Feature
Rating
Pie builder
Excellent — drag-and-drop allocation
Portfolio analysis
Good — performance, allocation views
Research
Below average — basic stock data
Account management
Good — transfers, borrowing, settings
Overall
4.0/5
M1’s interface is designed around the pie concept, which works beautifully. But if you want stock screeners, candlestick charts, or options analysis, this isn’t the platform.
Pros and Cons
Pros
Advantage
Why It Matters
Unique pie investing system
Self-directed + automated in one
$0 management fee
No ongoing cost (unlike robo-advisors)
Automatic fractional shares
Every dollar is invested, no cash drag
Low margin rates
Among the cheapest margin borrowing
Pre-built expert pies
Start with proven allocation strategies
Custodial + trust accounts
More account types than Robinhood/SoFi
Smart rebalancing
Uses deposits/withdrawals to rebalance (tax-efficient)
WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.
The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy
