M1 Finance is a SEC regulated Robo Advisor that has been around since 2015. They are owned by M1 Finance LLC, and officially located at: 213 West Institute Place Suite #301, Chicago, Illinois 60610.
M1 Finance Review
Investors at M1 Finance are given access to their custom made trading platform. You can invest via their website or their mobile apps, made for Android & iOS. This company has simplified the art of building a diversified portfolio via the Pies.
M1 of a simple “Expert Pies” which are pre-made portfolios, similar to a mutual fund of stocks and ETF’s. Investors can customize their own basket of stocks, and make a personal pie. When you add funds to your account, your basket will be automatically re-balanced.
The minimum deposit for a standard robo-investment account is only $100. This broker also offers IRA and Roth IRA Accounts, with a minimum deposit of $500. They do not charge fees.
M1Finance License Information
Scam Broker Investigator reviews hundreds of online brokers to see if they are legitimate brokerage firms, with a license. The best way for you to know that your stock broker is not a scam, is by checking their regulatory status. When you see that the broker is regulated by FINRA, and a member of SIPC, you can be sure that they are a legitimate broker.
M1 Finance is an SEC registered broker-dealer and a member of FINRA and SIPC. You can see their license number 69670 at Finra BrokerCheck, look here. When investing with a firm that is a member of the Securities Investor Protection Corporation (“SIPC”), investors accounts are protected for up to $500,000.
Compare Brokers to M1 Finance
You have many brokers to compare and choose from online. The reason smart investors choose to use a regulated broker instead of a scam broker, is because they are interested in trading, and not worrying about a broker processing their withdrawal.
Automated trading systems have become popular lately, and that has brought with it many new scams targeting Americans. Make sure you always verify that the broker you are investing with is licensed and regulated!
They offer a robust web trader platform, along with MetaTrader4 trading software, read more.