Ally Invest vs M1 Finance

Ally Invest vs M1 Finance Comparison Table 2023
Ally Invest Review 2023	M1 Finance Review 2023
Review 3.2 Ally Invest is #36 in our broker rankings.	Review 3.9 M1 Finance is #13 in our broker rankings.
Traders from US accepted	Traders from US accepted
Ally Invest was founded in 2005 and serves 11 million customers through its suite of investing and financial services products. The brokerage is regulated by the US SEC with FINRA and SIPC membership. The company has a substantial $197 billion in assets under management (AUM).	M1 Finance is a US brokerage that allows users to build a customizable investment portfolio from a range of 6000+ stocks and shares, ETFs and cryptocurrencies. The innovative 'pie' based portfolio management system allows traders to build several portfolios with different aims, and the brokerage supports machine-learning tools that can provide automated portfolio management.
Bonus Offer
	M1 Finance Plus free for 3 months on new accounts
Promotions
	Get A $500 Welcome Bonus When You Join M1 Finance
Comment by Reviewer
"Ally Invest is an all-in-one financial solution suitable for traders of all experience levels with self-directed and managed trading accounts alongside online banking, financial advice, credit cards and loans."	"US investors who want a straightforward, commission-free way to invest in stocks and crypto with AI-powered strategy support should consider M1 Finance."
Pros
Responsive customer support available 24/7 with local and international telephone help, live chat and email Free demo account with $50,000 virtual funds and access to all platforms and tools Competitive fees including commission-free trading on eligible US stocks and ETFs Managed portfolios tailored to financial goals and risk appetite Regulated by the SEC and a member of the SIPC Online educational content and financial advice High-quality proprietary web trading platform You can reinvest dividends through DRIP Leveraged trading up to $1 million Access to MetaTrader 4	Extras including a bank account and loan service make this a one-stop investing shop A clean dashboard that illustrates the current composition of your portfolio Multiple portfolios – up to five accounts under the same login Vast range of stocks and shares to choose from Make your own ETF by customizing your pie Excellent portfolio-management tools Straightforward proprietary platform Follow more than 60 expert portfolios Bitcoin trading through M1 Crypto Commission-free with low fees Trade fractional shares
Cons
Some features such as the stock screener are not available on the mobile app Deposits and withdrawals limited to wire transfers or cheques only Forex trading is available on a separate account Only US stocks are available	No stop-limit or stop-loss orders You cannot consolidate external accounts for planning purposes The way trades are placed puts transaction timing out of your control Only available in the US – eToro is a top alternative for the UK market Accounts with less than $20 and no trading activity for 90 days are charged a fee Despite offering stocks and ETFs, M1 Finance doesn’t provide trading on mutual funds or options M1 does not employ any human financial advisors, versus Betterment and other popular automated advisors
Awards
	Best Roth IRA Accounts - 2020
Instruments
Stocks, Options, Forex, ETFs	Stocks, ETFs, OTC stocks
Demo Account
No	Yes
Minimum Deposit
$0	$100
Trading Platforms
Own	Own
Payment Methods
Wire Transfer	Automated Customer Account Transfer Service Cheque Wire Transfer
Minimum Trade
	$1
Regulator
SEC, FINRA	SEC, FINRA
Margin Trading
Yes	Yes
Margin Rate
3.25%	3.5 - 5%
STP Account
No	No
ECN Account
No	No
DMA Account
No	No
MAM Account
No	No
PAMM Account
No	No
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
No	Yes
Robo Advisor
No	Yes
Negative Balance Protection
No	No
Market Maker
No	No
P2P Trading
No	No
Spot Trading
No	Yes
Mobile Apps
iOS & Android	Yes
Auto Trading
	Yes
Copy Trading
No	No
Social Trading
No	No
VPS Hosting
No	No
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
No	Yes
Custodial Account
Yes	Yes
Guaranteed Stop Loss
No	No
Inactivity Fee
	$20
Islamic Account
No	No
Account Currencies
USD	USD
Stock Exchanges
	Dow Jones Nasdaq New York Stock Exchange
Forex Trading
Ally Invest offers 50+ currency pairs with access to MetaTrader 4 and the Ally Invest Forex Advanced Desktop platforms. Spreads compare well to alternatives with a good range of majors, minors and exotics.	Forex trading not offered
GBPUSD Spread
1	NA
EURUSD Spread
1	NA
EURGBP Spread
1	NA
Assets
80
Cryptocurrency
Crypto trading not offered	M1 Finance users can open a crypto account to invest in 10 cryptocurrencies including Bitcoin, Ethereum, Cardano and Solana. You can also invest in six crypto-related funds and ETFs, which are a good way to get broader exposure to the digital currency market.
Spread
	Variable
Coins
	BTC ADA AVE ETH LINK ALDO BAT ATOM
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

Review	Review
More Comparisons
Ally Invest vs	M1 Finance vs