Are you confused about whether to choose M1 Finance vs Robinhood as a broker for your investing needs?
In this side-by-side comparison, we analyse M1 Finance vs Robinhood to help you understand how these apps compare on some of the most common features and make a better-informed decision about the best broker for you.
Below, you’ll find the pros and cons of each broker, as well as a comparison table that features the different fees charged, the financial instruments supported, the regulation, and more. Keep reading!
M1 Finance vs Robinhood: In a Nutshell
Mixed financial services, primarily Robo Advisor - US only
M1 Finance is a financial technology company that offers a unique blend of investing, banking, and personal finance management services.
It combines the features of a robo-advisor and a brokerage platform, allowing users to create customized investment portfolios and manage their money efficiently.
M1 Finance aims to empower individuals to take control of their financial future through a user-friendly and intuitive platform.
US beginner investors
Robinhood offers commission-free trading, meaning users can buy and sell stocks, cryptocurrencies, options, and ETFs without paying any fees.
Robinhood offers a user-friendly interface that simplifies the investing process. It provides real-time market data, personalized news feeds, and price alerts to inform users.
It is regulated by the Securities and Exchange Commission (SEC), and it is a member of the Securities Investor Protection Corp. (SIPC). Your assets are protected up to $500,000 (of which up to $250,000 is for cash).
Pros and Cons
M1 Finance
Pros
- High-yield savings account
- Commission-free stock and ETF investing
- Automated investing solutions
- Flexible personal loans
- Traditional, Roth and SEP IRAs
Cons
- No tax loss harvesting available
- No Financial Advisors
Robinhood
Pros
- Commission-free trades
- IRAs and 401(k)
- Fractional shares
- IPO Access
- No account minimum
Cons
- No mutual funds or bonds
- Limited customer support
M1 Finance vs Robinhood: Side-by-side Comparison
- General Information
- Founded in
- Demo Account
- Account Minimum
- Interest on unninvested cash (annually)
- Products
- Stocks
- ETFs
- Bonds
- Funds
- Options
- Futures
- CFDs
- Leverage Products
- Forex
- Cryptocurrencies
- Commodities
- Fees
- US stocks
- EU stocks
- ETFs
- Cryptocurrencies
- Custody Fee
- Inactivity Fee
- Withdrawal Fee
- Connectivity Fee
- Currency Conversion Fee
- Security
- Regulators
- Investor Compensation Scheme(per person, per institution)
Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.
