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M1 Finance vs Charles Schwab

M1 Finance vs Charles Schwab Comparison Table 2024
M1 Finance Charles Schwab
Review
3.9
Review
2.8

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.

Charles Schwab is a large US investment broker offering a massive range of stocks, ETFs and equity derivatives in a variety of savings and investment accounts. The trustworthy brand has been offering financial services for 45+ years with over 35 million brokerage accounts and $870+ billion in assets under management. Charles Schwab is also regulated by top-tier watchdogs including the SEC and FCA.

Bonus Offer
M1 Finance Plus free for 3 months on new accounts
Comment by Reviewer
"M1 Finance remains a great choice for US investors who want a straightforward, commission-free way to invest in stocks and crypto. The intuitive dashboard, customizable portfolios and fractional shares should appeal to all experience levels and investing goals. " "Charles Schwab will serve long-term investors looking for managed accounts, financial advice and self-directed trading opportunities. Fees are competitive, with zero-commission stock and ETF trading and no account minimums for individual brokerage accounts."
Pros
  • Thanks to additional extras like a bank account and loan service, M1 Finance continues to offer a one-stop shop for investors
  • The broker offers commission-free stocks with low fees, plus fractional shares, making it a great choice for beginners
  • The broker delivers a clean and easy-to-use dashboard that illustrates the current composition of your portfolio
  • The firm offers a straightforward proprietary platform with intuitive portfolio management tools
  • Multiple portfolios can be facilitated, with up to five accounts under the same login
  • Customizable 'pies' allow investors to curate their own ETFs
  • The range of 6000+ stocks and ETFs is highly competitive
  • Bitcoin trading is available through M1 Crypto
  • Strong investment offerings covering stocks, mutual funds, options, bonds and cryptocurrency
  • Powerful trading software with real-time quotes, fundamental research and investment screeners
  • Responsive customer support team available 24/7 via live chat or telephone
  • Competitive trading fees with no commissions on stocks and ETFs
  • Fractional shares on the S&P 500 with a $5 minimum investment
  • Thematic investing categories and ESG compliant portfolios
  • Strong regulatory oversight from the US SEC and UK FCA
  • No account minimums for individual brokerage accounts
  • High-quality educational resources for new investors
Cons
  • Despite offering stocks and ETFs, M1 Finance doesn’t provide trading on mutual funds or options
  • Unlike competitors such as Betterment, M1 does not employ any human financial advisors
  • M1 Finance is 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
  • The way trades are placed puts transaction timing out of your control
  • You cannot consolidate external accounts for planning purposes
  • There are no stop-limit or stop-loss orders
  • Only US markets available (except 12 foreign markets on the Global Account)
  • High minimum investment of $5000 to use robo-advisors
  • Limited funding methods with no e-wallets
  • No email support
Awards
  • Best Roth IRA Accounts - 2020
Instruments
Stocks, ETFs, OTC stocks Stocks, ETFs, Cryptos, Futures, Options, Commodities, Bonds
Demo Account
Yes Yes
Minimum Deposit
$100 $0
Trading Platforms
  • Own
  • Own
Payment Methods
Minimum Trade
$1 $1
Regulator
SEC, FINRA SEC, FINRA, FCA1
Margin Trading
Yes No
Margin Rate
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
Yes Yes
Robo Advisor
Yes Yes
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes No
Mobile Apps
Yes iOS & Android
Auto Trading
Yes Yes
Copy Trading
No No
Social Trading
No No
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
Yes Yes
Custodial Account
Yes Yes
Guaranteed Stop Loss
No No
Inactivity Fee
$20
Islamic Account
No No
Account Currencies
  • USD
  • USD
Stock Exchanges
Commodities
Cryptocurrency
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. Charles Schwab supports indirect crypto trading through digital coin trusts and crypto-related stocks. You can get exposure to popular digital currencies such as Bitcoin, Ripple and Ethereum.
Spread
Variable Floating
Coins
  • BTC
  • ADA
  • AVE
  • ETH
  • LINK
  • ALDO
  • BAT
  • ATOM
  • GBTC
  • BITW
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Review
Review
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