Wealthfront vs M1 Finance

Wealthfront vs M1 Finance Comparison Table 2024
Wealthfront M1 Finance
3

Wealthfront is #35 in our broker rankings.

3.9

M1 Finance is #16 in our broker rankings.

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

Wealthfront is a leading US robo advisor, regulated by the Securities and Investment Commission (SEC). The low fees and choice of investment profiles makes it stand out from rivals. The brokerage is also trusted by 640,000+ customers with over $43 billion in 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
Comment by Reviewer
"Wealthfront is a good option for long-term investors looking for a hands-off approach to trading. We like the choice of trading accounts, retirement solutions, individual savings profiles all within a sleek and modern interface." "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. "
Pros
  • Automated investment opportunities through robo advisors with financial advice, planning and automatic portfolio rebalancing
  • A choice of accounts to suit different trading goals including retirement investing (IRAs) and individual investing solutions
  • Transparent and competitive pricing model with no account opening fees, inactivity charges or commissions
  • Trustworthy broker registered with the US SEC alongside fund insurance from FDIC and SIPC
  • Direct indexing (a feature where individual shares in an ETF are purchased separately)
  • User-friendly platform with mobile app compatibility on iOS & Android devices
  • Competitive 0.25% annual advisory fee for AUM
  • Low advisory fees and ETF expense ratios
  • ESG/Socially Responsible friendly
  • Tax-efficient trading strategies
  • Promotions for new clients
  • 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
Cons
  • Limited human component to advisory service
  • Poor customer support with no live chat
  • The brand accepts US clients only
  • Less suitable for short-term trading
  • No large-balance discounts
  • 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
Awards
  • Best Roth IRA Accounts - 2020
Instruments
Stocks, ETFs, Cryptos Stocks, ETFs, OTC stocks
Demo Account
Yes Yes
Minimum Deposit
$1 $100
Trading Platforms
  • Own
  • Own
Payment Methods
Minimum Trade
$1 $1
Regulator
SEC, FINRA SEC, FINRA
Margin Trading
No Yes
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 Yes
Mobile Apps
iOS & Android Yes
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
No Yes
Custodial Account
No Yes
Guaranteed Stop Loss
No No
Inactivity Fee
$20
Islamic Account
No No
Account Currencies
  • USD
  • USD
Stock Exchanges
Cryptocurrency
Wealthfront supports investing in Bitcoin and Ethereum via statutory trusts. Cryptocurrency cannot exceed 10% of your total portfolio to protect against significant volatility, so if you are an active crypto trader, this isn't the best broker. 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 Variable
Coins
  • GBTC
  • ETHE
  • 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
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