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M1 Finance Review

M1 Finance Logo 2020

M1 Finance is an SEC regulated Stock Broker, that has been in business since 2015.

They call themselves the home of the Finance Super App, as they offer Investing, Spending and Borrowing. In March 2020, they reached $1 Billion AUM (Assets Under Management), and as of July 14th 2022 they have $4.5 Billion AUM.

Brokers official website is at: https://M1.com/.

M1 Invest App

M1 Finance Review

Day Traders and Investors at M1 Finance, have access to a custom stock 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. New from M1 Finance is their Credit Card, Checking Account and Lending.

M1 Finance Robo Advisor Broker
M1 Finance Review

Is M1 Finance a Licensed Broker?

Yes, 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. Owned and operated by M1 Finance LLC, they are officially located at: 200 N LaSalle Street, Suite 800, Chicago, IL 60601. Contact phone number is (312) 600-2883. Customer support email address is: [email protected].

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.

March 18th 2024, FINRA announced;

We have fined M1 Finance $850,000 for social media posts made by influencers on the firm’s behalf that were not fair or balanced, or contained exaggerated, unwarranted, promissory or misleading claims.


Scam Broker Investigator reviews hundreds of online brokers to see if they are legitimate brokerage firms, with a license.

Apparently we are not considered influencers, because we were not contacted as part of their influencer program. Maybe that is because our website has been around since 2013, and has reviewed more online brokers than any other influencer.

Bottom line is; 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.

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!