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M1 Finance vs E-Trade

M1 Finance vs E-Trade Comparison Table 2023
M1 Finance Review 2023 E-Trade Review 2023
Review
3.9

M1 Finance is #13 in our broker rankings.

Review
3.3

E-Trade is #36 in our broker rankings.

United States Flag Traders from US accepted
United States Flag Traders from US accepted

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.

E-trade is a one-stop shop that provides both investment and trading opportunities to clients through four proprietary platforms and apps. The firm has decades of experience and is authorized by the SEC. Investors can benefit from ready-made portfolios or open a do-it-yourself account to choose from stocks, funds, ETFs, futures and bonds; traders can access margin trading on stocks, options and futures.

Bonus Offer
M1 Finance Plus free for 3 months on new accounts Commission Free Trades
Promotions

Get A $500 Welcome Bonus When You Join M1 Finance
Comment by Reviewer
"US investors who want a straightforward, commission-free way to invest in stocks and crypto with AI-powered strategy support should consider M1 Finance." "E-trade provides great service to anyone who wants to grow their wealth both through long-term investments and shorter-term trading, thanks to a diverse and flexible range of products. "
Pros
  • 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
  • Trade US stocks, ETFs and mutual funds with no commissions
  • Build an investment portfolio and trade stocks and derivatives through one broker
  • Good selection of extra features including data feed with input from leading third-party providers
  • Regulated by top US organizations including the SEC
  • Competitive fees and a transparent pricing structure
  • Very diverse range of assets to invest and trade
Cons
  • 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
  • High commissions on some products
  • High threshold to qualify for the pro platform
  • No fractional shares
  • No demo account
  • No forex trading
Awards
  • Best Roth IRA Accounts - 2020
Instruments
Stocks, ETFs, OTC stocks Stocks, Futures, E-minis, Options
Demo Account
Yes Yes
Minimum Deposit
$100 $500
Trading Platforms
  • Own
  • MT4
Payment Methods
Minimum Trade
$1 $10
Regulator
SEC, FINRA SEC
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 No
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes No
Mobile Apps
Yes iOS, Android and Windows
Auto Trading
Yes
Copy Trading
No No
Social Trading
No No
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
Yes No
Custodial Account
Yes Yes
Guaranteed Stop Loss
No No
Inactivity Fee
$20
Islamic Account
No No
Account Currencies
  • 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. Crypto trading not offered
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
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