NEW: SMART TRANSFERS
Goodbye manual calculations. Now, you can build a system of
automated rules that lets you organize your transactions with just a few clicks.
Your money will move between your M1 accounts automatically, so you can optimize
your investing, borrowing, and spending. ---...
Worst customer Service, Total Scam
At first I heard lots of good things about M1 finance. Me and couple friends decided to invest little money and see how it works.. I opened an account and M1 finance also offered an early access option to M1 spend which sound really good. I paid for early access to checking account and I didn’t hear anything not even an email to update me on status of my account, I called the customer service number and I was told that oh submit 2 type of document and you should be good within 2-3 business days. Week passed no news, I called back and customer service like submit the documents in PDF format and again wait for 3-5 business days. Week passed no news no email or call or notification. I called again and they were like oh your address on utility bill doesn’t match your address in driver license which is B.S. they asked for bank statement I sent that and 3 days later I’m calling they said wait 3-5 more business days. If you call the customer service twice with same number they will hang up on you. They did it to me twice when I called and someone name John picked up the phone, the minute I told my name and the issue that I want to address he hanged up on me. When I sent an email all I get reply that check our features with M1 Plus and wait 3-5 business days. Looks like one auto reply for all. To me it looks like bunch of kids running this so called business M1.
So I started an Roth IRA account not knowing that when I liquidate it wild cost me $100 no matter the account size. Anytime you are to liquidate your account(s) they will charge you $100 so this app really isn’t free and doesn’t provide you with a sense of security because I did not know about this $100 fee until I tired to liquidate everything from my IRA account I started with them so I could consolidate to my Fidelity account which is where most of my money is. I do not find this to be fair and it was not disclosed to me when I signed up so I liquidated my IRA and my regular accounts that I had with them and I will never do business with these crooks ever again. I just lost $100 from my IRA because I choose to consolidate my IRA accounts. On top of that, they would not let me withdraw my money as a IRA rollover. They said I had to choose “premature” and they would change it on their end so I don’t get taxed. I doubt they would do that because once a liar always a liar. I have reached out to them many times about this policy because not even bigger company’s like TD or Fidelity will charge you a fee for liquidating your account so why should this small no name company charge me $100? Stay away from them. They are crooks and unless they give me back my $100 this review will remain.
Not easy to set up
I’ve been trying for over two weeks to get started with M1 investing. When I downloaded the M1 app on my iPhone I noticed the content was a little different from what I’ve been seeing on the M1 tutorials and website desktop. I’m new to investing so I choose M1 because it looked user friendly, however the mobile app navigation looks very different, aside from that their is no image of the pie chart anywhere. I’m not sure how to choose slices to make up my portfolio. The mobile app doesn’t give you any detailed information on individual stocks, bonds or other securities to help you set this up. Is there a later version of this app? I even tried to update, but I keep getting the same screen up my app. why isn’t the apps content the same as the website and all it’s tutorials. I really want to use the M1 investing platform but I’m a bit confused by this. I tried contacting support but no one has gotten back to me to explain the issue.
Great Free Alternative for easy Investing
M1 is awesome: completely free, quick deposits unlike Robinhood, and partial shares which very few brokers do. I can make my own ETF essentially. I love the concept of pies, the app shows them very interactively and intuitively, and it's fun to make your own mix of stocks. I was using Robinhood, Schwab, and Betterment, but will now be doing M1 instead of Betterment. This will avoid the management fees and give me almost any choice of fund, which betterment doesn't allow for accounts less than $100k. I'll still keep Robinhood because I like the interface and the feeling of owning whole stocks, but I'll be using it less and less. Schwab same kind of thing, it's convenient but there are fewer free ETFs, and no free stocks. I would highly recommend this app, so far it's great and I will be putting most of my money into it.
M1 great beginning
M1 was great in the beginning. No fees! Free trades, good mobile app and website. Trading only once every 24 hours took getting used to. Pie concept works once you understand what it can and cannot do. Have been using them since Feb 2019 and first ticket , they were responsive, within a couple of days. I did not like the answer then but I understood it. Now I have hit a BUG with M1. Something happened when I added a new sub pie to my portfolio. I only have about 60 total slices and every slice at least $2 but I get an error every time I try to change, add, remove a slice. Actually happened to 2 portfolios the same day. I opened a ticket, waited 2 days, no response so I opened another ticket. No response. I have two accounts with them that are both broken/frozen and no hope of it getting better. If they fix this, I could give them 5 stars. This Friday, i will be broken for a week, and will drop to 1 star and ask for refund. Investor beware.
Does job well!
The app works just as it should. The concept of pies took a little bit of time to get used to as I constructed my first portfolio, but once figured out, it gives the user great flexibility in creating a portfolio. One feature that would be nice is to see what stocks are duplicated in multiple pies as you put together a portfolio. Regarding M1: The ability to purchase fractional shares allows even small investors to have a diversified portfolio and add to it with regularity, and the ability to do it for free is a great benefit to today’s budding and experienced investors. Here are a couple things I wish M1 would add to their service: First, allow for recurring individual orders and second give the customer the ability to turn off the auto rebalancing feature for new investments.
Gone after two weeks
I moved from Robinhood to M1 loving the idea of fractional shares and automatic reinvesting. However, in the transfer my schematics got messed up (gains, percentages, etc.), and I asked them to reset it. After a couple of days they reset it, and now it’s reading properly. I then contacted them and let them know that my earned dividends were wiped out. I’ve emailed them multiple times only to get canned (copy/paste) responses. There is a string of 7 replies now, and none of them are any help. I’ve diligently explained what happened, and how it happened, no help. I’ve called 8 times today alone, no answer. I’ll be pulling my money out next week. Such a shame, great idea for a product, horrible experience getting assistance. If I cant rely on this platform with $25k, there is no way I can move more of my money here. Consider the emotional Attachment you have to your money, now imagine no one responding to your concerns. Great idea for a product, bad execution.
Another option please
I really like M1 Finance, primarily because it’s free and that I can purchase partial shares. It deserves 5 stars on those reasons alone. However, I would like to see another way to purchase shares besides the way it allocates deposited funds based on the percentages given on pies. I’d like to allocate funds freely, automatically of course on the same basis it does currently: weekly, monthly that sort of thing, but with dollar value options. For example, I’d like to put in 100 dollars a week into Apple and 50 dollars to Disney, and differing amounts on my other stocks. The purchased shares won’t be based on a pie, but rather a predetermined amount. The pie method limits my ability to continuously add funds into stocks that have risen significantly, and making its weight heavy on the pie. Even if my determined weight for the stock on my pie is exceeded, I would like to continue purchasing shares for that stock. The predetermined dollar amount to purchase s shares for the stock will eliminate the pie limitation. I would still like to see a pie of my stocks, but I don’t want the percentages on the pie to limit my purchasing ability. Please let me know if this will ever become an option in the future.
We’ll see...$30 fee for my mistake, customer service lacking
Got a $30 “reversal fee” for my own mistake I withdrew from savings rather than checking (well my banks mistake, they should have covered withdrawal with my checking when my savings was too low but of course everything is automatic now so of course there’s no way to prevent getting dinged for mistakes now) I’m a new user (2 weeks) and I asked to have the fee reversed over this mistake. Nope. Which is their right, but NOT great service and now honestly I don’t really trust them. What if there’s some other fee they have that I don’t know about? There was no warning bout the fee as far as I could tell. So I might play around with it for awhile with a few hundred dollars because I like the way it works, but I’ll open a brokerage account from a more customer friendly place when I decide to put more money in the stock market.
It’s good but...
If you are a long term investor then pick your portfolio put money in and don’t look at it. It’s great for that. The only problem I have which I understand they have to do it this way to make it free, is their trading and rebalancing times each day are too inconsistent. I am not a day trader but everytime I do want to trade a few stocks or rebalance then you have to wait whichever time of the day it is for them to do it. There has been a couple times where I traded a few and by the time it got around to be traded I lost a few hundred bucks by that time. I know they have to do it this way but I still don’t like it. Plus I invested some money in a few of their “expert” portfolios and have yet to make a dime in those. In fact have lost quite a bit of money in their “expert” funds. If you put money in, don’t look at it everyday and leave it in for years then M1 is great.
Best Brokerage Platform Around!
I absolutely love M1 Finance. Zero commission trades? You bet! My experience has been great so far. I left wealthfront for M1 and haven’t regretted it for one second. Being able to have a tremendous amount of autonomy over my portfolios and being able to group/bucket my investments into themes/pies has been really useful in keeping track of how my investment theories and strategies play out. I even emailed the CEO to thank him for the great work he and his team were doing were doing and he replied back to me with a personal note and shared his vision for the company/product. He and his team seem like a really wholesome bunch. It’s been such a positive experience so far and I am excited to see how the product develops! Thanks!
Great concept but very slow to complete a sell or buy transactions
I enjoy the concept of this app and it delivers lots of features. This is what I hate the most; it’s very slow and painful to complete for a sell or a buy transaction. It could take a day or so to complete a simple sell and/or purchase a stock transaction. I frequently request a sell when the stock price is higher, but when the transaction is completed, the sell price is lower than the initial selling price when requested. I’m discouraged the lengthy waiting period where you could lose money. I love Robinhood, it has instant buy or sell and I don’t bear to wait hours or days to sell or buy transactions. This service could earn 5 stars, if there is instant sell or buy stocks rather than wait hours or days and pay higher prices for purchasing or sell lower stock price when sell is complete.
Good but could be better.
I love the fractional shares and auto reinvesting dividends. The pie system is a great idea as well. It makes it super easy for a beginner like me to diversify and manage my portfolio. The website and phone app are also great. The sign up process for M1 Plus and the spend account was a little confusion but I’m looking forward to using the checking account once I get my card. For me I have a couple of things would make this a 5 star review. 1. Higher daily limits on debit card, I would love to use this as my primary checking account but with a daily spending limit of $1000 and ATM limit of $500 it just wouldn’t be possible. 2. Customer service needs to be more responsive, only had a couple issues so far but it takes several days to resolve even a minor issue. 3. I would love to see support for an iPad app.
Build your own mutual fund or pick expert pies!
Love the ability to buy/sell fractional shares for free and can turn on/off auto invest function. Lots of stupid 1 star reviews of people who don't learn how to use the app and don't read online forums or website instructions. What a shame! M1 is as good as you're willing to discover its capabilities! Love how I can instantly fund my account and invest in the following trade window. Love that I can create my own pies and slices within slices. Here are my suggestions to improve the platform: 1) M1's market research and articles section isn't as up-to-date as the newsfeed in my TD Ameritrade app. Articles are hours old on M1 and there are much fewer articles and market research updates than other financial research apps. Please seek to improve. 2) I just now noticed some errors in the reporting of the percentage value of my slices. Maybe a glitch that will be resolved tomorrow morning automatically? My actual value isn't wrong and my cash balance isn't wrong. Just the percentage value within my slices are wrong. Thank you for this wonderful app! Fractional shares with zero trading commissions! Tremendous!!
Great features but tons of bugs
I’ve been using M1 for my primary broker for 2 months now and I love it. It’s perfect for long term investing and the fractional shares and auto-reinvesting features work great. The only complaint I have is that the app is very buggy and probably 30% of the time will not display information correctly. Just this morning I had 2 buy orders placed the night before and after the trading window ended, it showed that my orders were not executed and was going to wait until next Monday to execute them. Thankfully this was a bug and about 2 hours later it showed up in my activity page that they were executed this morning and were successful. Once again, great app and features but it displays inaccurate information a lot.
Yes. M1 Finance is very safe to use. This is based on our NLP (Natural language processing) analysis of over 21,627 User Reviews sourced from the Appstore and the appstore cumulative rating of 4.6/5 . Justuseapp Safety Score for M1 Finance Is 50.1/100.
Yes. M1 Finance is a totally legit app. This conclusion was arrived at by running over 21,627 M1 Finance User Reviews through our NLP machine learning process to determine if users believe the app is legitimate or not. Based on this, Justuseapp Legitimacy Score for M1 Finance Is 50.1/100.
M1 Finance works most of the time. If it is not working for you, we recommend you excersise some patience and retry later or Contact Support.
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