M1 Finance Review: The Best Brokerage?

Описание: Watch my M1 Finance review video to see why I think M1 Finance is the best brokerage available today.

I will first go over M1 Invest, then M1 Spend and M1 Borrow.

If you want to sign up for M1 Finance, be sure to use someone's referral link to get a nice bonus. You don't need to use mine, but here it is if you want to do so: https://bit.ly/3a7ty7p

M1 Invest:
Here are the key highlight to M1 Invest, the stock trading and investing platform on M1 Finance:

1. M1 Invest is free to use. There are no commissions, account minimums, or account maintenance fees.
2. M1 Invest offers fractional share investing up to 1/10,000th of a share so you can be fully invested.
3. M1 Invest offers portfolio-level DRIP, meaning you can invest your dividends across your entire portfolio according to the exact asset allocation you want. Portfolio-level DRIP is something I have not seen at other brokers and it is something that can help stock market beginners stay properly allocated.
4. You can create your own investment "pies" or asset allocations.
5. M1 Invest has expert pies for those who are stock market beginners and want hands off stock market investing.
6. M1 Invest allows you to automatically transfer money into your account periodically to invest.
7. M1 Invest has auto-rebalancing, so you never become overweighted or underweighted in any one stock or sector.
8. M1 Invest allows you to share your portfolio.
9. M1 Finance is insured by SPIC and regulated by FINRA.
10. M1 Finance has great stock market research tools so you can pick stocks with high dividends, growth stocks, speculative stocks, or whatever stock market investment you want.
11. M1 Finance is very transparent and honest with how it makes money.

M1 Invest is great for dividend growth investors and dividend investors since you can buy fractional shares and have automatic reinvestment.

The biggest downside to M1 Invest is that you cannot make quick, instant trades. You can only trade once or twice per day. But this shouldn't matter for long-term investors.

M1 Borrow:
M1 Borrow allows investors with $10,000 in their M1 accounts to borrow up to 35% of the value of their portfolios at 2% + the Fed Funds rate, or roughly 3.5%.

I would not use this feature to leverage your portfolio. But borrowing money from M1 is generally much cheaper than borrowing money from Charles Schwab, Fidelity, or E-Trade.

M1 Spend
M1 Spend is a checking account that offers 1.5% interest on your account balances and 1% back on debit card purchases. However, M1 Spend is not worth it because it costs $125 per year. You can use products like SoFi Money and credit cards like the Chase Freedom Unlimited to get more cash back and higher savings with no fees at all.

The high yield, no fee, free ATM checking account I love that comes with a sign up bonus:

💰 $25 signup bonus link for SoFi Money: https://bit.ly/390TLFp (this is my wife Sam’s link, mine’s not working right now)

Chase Freedom AND Chase Freedom Unlimited Cards (huge BONUS): https://bit.ly/2ND2NP9

Overall, I think M1 Finance is great. M1 Finance is the best brokerage out there today. In M1 Finance vs Robinhood or M1 Finance vs Fidelity or really any other firm, M1 Finance wins.

What do you think about M1 Finance? Comments and like below!

AFFILIATE DISCLOSURE: Some of the links on this webpage are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and sign up. However, this does not impact my opinions and comparisons.

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