Wealthsimple vs M1 Finance

Wealthsimple vs M1 Finance Comparison Table 2022
Wealthsimple M1 Finance
WINNER
M1 Finance is the better broker
Not Yet Rated
United States Flag Traders from US not accepted
3.9
United States Flag Traders from US accepted
Wealthsimple offers managed investment portfolios to Canadian residents. Clients can build a trading solution based on their financial goals and risk tolerance. Buy and sell stocks, ETFs, and cryptocurrencies. 2 million+ accounts have already been opened. M1 Finance offers customizable and automated trading services for US investors.
Awards
  • Best Financial Services Website - Webby Awards
  • Top 100 Global Financial Technology Companies - Fintech 100
  • Best Roth IRA Accounts - 2020
Bonus
M1 Finance Plus free for 3 months on new accounts
Instruments
Stocks, ETFs, Cryptocurrencies Stocks, ETFs, OTC stocks
Demo Account
No Yes
Minimum Deposit
$1 $100 ($500 for IRA)
Payment Methods
Minimum Trade
$1 $1
Regulator
IIROC FINRA, SEC
Margin Trading
No Yes
Margin Rate
3.5 - 5%
MetaTrader 4
No No
MetaTrader 5
No No
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
No No
Autochartist
No No
eSignal
No No
Trading Central
No No
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
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 via robo advisor 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
Guaranteed Stop Loss
No
Islamic Account
Yes No
Account Currencies
  • USD
  • CAD
  • USD
Stock Exchanges
Commodities
Cryptocurrency
Buy and sell 50+ crypto tokens including Bitcoin, Ethereum and Dogecoin Build custom crypto portfolios and select from the broker's expert pies.
Spread
1.5 – 2% operational fee Variable
Coins
  • ZRX
  • 1INCH
  • AAVE
  • APE
  • AMP
  • ANKR
  • AVAX
  • AXS
  • BAL
  • BNT
  • BAND
  • BAT
  • BTC
  • BCH
  • ADA
  • CTSI
  • CELO
  • LINK
  • CHZ
  • CHR
  • COMP
  • ATOM
  • COTI
  • CRV
  • DAI
  • MANA
  • DOGE
  • DYDX
  • ENJ
  • ETH
  • FTM
  • FIL
  • GALA
  • GRT
  • KNC
  • LTC
  • LRC
  • LUNC
  • MKR
  • PAXG
  • DOT
  • MATIC
  • QNT
  • REN
  • SAND
  • SHIB
  • SKL
  • SOL
  • XLM
  • STORJ
  • SUSHI
  • SNX
  • XTZ
  • UMA
  • UNI
  • USDC
  • YFI
  • 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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