Download My FREE Income Ideas Cheat Sheet!
Make. More. Money. Join 20,000+ subscribers learning how to boost their income and take control of their finances.

Don't worry – we hate spam too. Unsubscribe at any time.

Does M1 Finance Have Fees? (2023 Guide)

Don't Work Another Day is reader-supported. We may receive compensation from the products and services mentioned in this story, but the opinions are the author's own.
  By Forrest McCall | Last Updated:  March 25, 2022

If you’re debating the M1 Finance app, you might be wondering if it has fees and if so, how much are they?

M1 Finance is a great option for many investors looking to build wealth and and save for the future.

In this post, I’ll explore if M1 Finance has fees, some of the pros and cons of M1 Finance, and much more. Let’s get started!

My Top Investments
Acorns 5 · Stock Market · $10 Min.
Get $20 in free stocks when you open a new Acorns account. Join millions of happy customers building wealth today!
Risk Level
Avg. Return
7% - 15%
Get $20 Free to Invest
Arrived Homes 5 · Real Estate · $100 Min.
Invest in individual rental properties with just $100 with Arrived. With $83 million of real estate owned, Arrived is one of the best real estate platforms you can use to build wealth.
Risk Level
Avg. Return
Start Investing Now!
Explore More Investments
Mainvest 5 · Small Business · $100 Min.
Invest in small businesses across the country with Mainvest. With target returns of 25%, join thousands of investors investing in small businesses!
Risk Level
Avg. Return
9% - 30%
Start Investing!
Gemini 5 · Cryptocurrency · $0 Min.
Invest in Bitcoin and more with Gemini. Join millions of satisfied customers!
Risk Level
Avg. Return
Create My Free Account
M1 Finance 5 · Stock Market · $10 Min.
Easily invest in the stock market with M1 Finance. Plus, get up to $250 free for new investors!
Risk Level
Avg. Return
7% - 12%
Get Up to $250 Free!

M1 Finance Fees

Fortunately, M1 Finance is completely free to use and offers commission free trades for investors.

You won’t pay an annual fee or monthly fee like some other investing apps.

They do offer additional services that do have fees, but these aren’t common for everyday investors. You can learn about there entire fee schedule here.

ETF Fees

If you choose to purchase an ETF through M1 Finance, you will have to pay the expense ratio for the fund – which goes directly to the fund manager.

Account Maintenance and Inactivity Fees

M1 Finance will charge account maintenance fees for any accounts holding less than $20 with no activity in the last 90 days.

This means as long as you have more than $20 in your account or you stay active every 90 days – you won’t be charged any fees.

Bank Fees

M1 Finance can charge several fees for bank transfers depending on your circumstance.

For example, domestic wire transfers will cost $25 and a check request will cost $25. Returned checks will set you back $30, as will amendment repairs. Finally, an ACH notice of change or correction will cost $5.

Paper Copy Fees

If you would prefer to have paper copies of your statements or tax documents, these will come with additional fees from $2 to $5. Additionally, if you need your documents mailed overnight, this will cost anywhere from $100 to $125.

M1 Finance Investing Opportunities

M1 Finance Benefits

M1 Finance is an excellent robo advisor that offers fee-free investing for anyone. The company started in 2015 and has hundreds of thousands of users making it one of the most trusted investing platforms available.

New Account Bonus

Whenever you create a new account and make a deposit of $1,000 or more – you’ll be granted a welcome bonus of anywhere from $30 to $500.

This is a great bonus for anyone looking to get started investing with a robo advisor.

M1 Finance is one of my favorite investment apps for both beginner and serious investors. Best of all – it's completely free. Sign up below!
Sign-Up for Free Now!
Disclosure: This link is an affiliate link, meaning, at no additional cost to you, I will earn a commission if you click through and make a purchase.

Low Account Minimums

To open a new M1 Finance account, you’ll only need $100. This makes investing a viable option for most people, no matter your financial circumstance.

Other platforms can requires $250, $500, or more just to open an account.

Fractional Shares

Fractional shares, or the ability to purchase small portions of a single share, is a great benefit for smaller investors who want to purchase expensive stocks.

For example, some technology stocks like Amazon can reach thousands of dollars per share. Without fractional shares, you’d need to have thousands of dollars to invest in these companies. With fractional shares, you can purchase as little as $5 worth of stock.

Commission Free Trades

While this has become the new standard for many brokerages, it’s still worth mentioning. M1 Finance offers commission-free trades for all stocks and ETFs.

This means you can buy and sell as much as you want without having to worry about fees eating into your profits.

Automatic Rebalancing

Managing your assets with M1 Finance is simple. Not liking the structure of your portfolio? You can easily rebalance it with the click of a button.

You can also purchase individual stocks with M1 Finance so if there’s a certain company you’re interested in, you can add it to your portfolio easily.

Future Cryptocurrency

While M1 Finance does not currently offer cryptocurrency trading, there have been some rumors of it potentially happening. In addition, there are currently job postings that can be directly linked to the future of crypto within the app.

M1 Finance Cons

It’s hard to go wrong with a platform like M1 Finance. They seem to do everything right in the eyes of many investors.

If I had one complaint, it would be that they don’t have any human advisors on their team to assist you. Some M1 Finance alternatives do offer these services, but they come with an extra cost.

Because it is a robo advisor, everything is done online – without the help of humans.

Final Thoughts on M1 Finance Fees

M1 Finance is a great investing platform with zero fees for the everyday investor.

You won’t find any hidden fees or annual maintenance fees, making it a great option for both new and experienced investors.

As a bonus, you can earn up to $500 in free cash when you open a new account!

Forrest is a personal finance, entrepreneurship, and investing expert dedicated to helping others obtain life long wealth. He has a Bachelor's degree in business and has been featured in many popular publications including Forbes, Business Insider, Bankrate, CNET Money, and many others. To learn more about Forrest, visit the About Us Page for more info.
Download My FREE Income Ideas Cheat Sheet!
Make. More. Money. Join 20,000+ subscribers learning how to boost their income and take control of their finances.

Don't worry – we hate spam too. Unsubscribe at any time.