M1 Finance: overview on M1 Finance Investing app
M1 Finance is a great investment app that can give you more autonomy when trading. To know more, read our overview of this investment app!
by Victória Lourenço
M1 Finance Investing app
M1 Finance is an investment app that can give you more autonomy when investing. This app can give you different investment options, like self-directed trading and automated investing. You can even have IRAs accounts add access to a great number of professional portfolios.
Also, this app offers an account with a premium membership that you can even get cashback! So, to know a bit more about this app, keep reading our overview!
|Trading fees||No trading fees|
|Account minimum||$100 and $500 for IRAs|
|Promotion||If you make a deposit of $1,000, you can get a $30 bonus|
|Investment choices||Stocks and ETFs|
What is special about M1 Finance?
Low minimum deposit and fractional shares
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This app can be very special for certain types of traders. There are over 80 professional portfolios available to its users. And it can be great for people who are new to the investing world. Also, there is the feature of investing in fractional shares (stocks and ETFs).
In addition, this app offers a free checking account inside the app. This account has M1 Spend tier, and you can receive paychecks, pay your bills, use a debit card. Also, it has 0% interest on checking and 0% cashback.
Moreover, there is the M1 Plus tier, which is the app’s premium membership. It offers 1.5% interest and 1% cashback on all spendings that they make using their M1 debit card. But, this tier has a fee that is charged monthly.
Who can apply for the M1 Finance investing app?
Beginner traders and experienced traders can apply to this investing app. The platform is free, with no trading commissions or other related costs. Also, people who are interested in automated investing can apply to this app to enjoy this type of feature. Moreover, this app can also be great for those who want to do self-directed trading.
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