M1 Finance vs Ally Invest
M1 Finance is a no-fee investing app that allows you to choose your own investments. How does it compare to Ally Invest? Read our comparison chart below.
M1 Finance offers free automated investing with no commissions or account fees. M1 lets you select your own investments and their automation will manage it for you. This is great for investors who want a say. The downside is that there are no human advisors. The minimum to start is just $100.
While Ally Invest (formerly TradeKing) offers stock trades at $0 per trade and options trading at $0 + $0.50 per contract. There is no minimum deposit.
Compare M1 Finance with Ally Invest, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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| Visit Site | Learn More | |
M1 Finance | Ally Invest | |
|---|---|---|
M1 Investment Account - Up to $500 Bonus - | Commission-Free Stock Trades - | |
Benefits and Features | ||
| Stock Trading | ||
| Options Trading | ||
| Annual Fee | ||
| Cryptocurrency Trading | ||
| Minimum Deposit | ||
| Mutual Fund Trading |
| |
| Commission Free ETFs | All U.S. listed ETFs | |
| Phone Support | Monday - Friday 9:30 am to 4 pm EST | |
| Live Chat Support | ||
| Email Support | ||
| Human Advisors | ||
| Assets Under Management | ||
| Penny Stocks | $0.01 per share on the entire order for stocks priced less than $2.00. | |
| Tax Loss Harvesting | No, but offers tax minimization features | |
| Goal Tracker | ||
| Automatic Deposits | ||
| Broker Assisted Trades | ||
| Good For | DIY investing with passive portfolio management | |
| Inactivity Fee | $50 (for accounts with less than $50 and no activity for 90+ days) | |
| Maintenance Fee | ||
| Online Platform | ||
| iPhone App | ||
| Android App | ||
| Banking | All users can open a M1 Spend account with free debit card. No monthly service fees and no balance requirements. | Integrated with banking on ally.com. Manage your Ally banking and investment accounts in one place. |
| Mobile App |  | |
| Two-Factor Authentication | ||
| Forex Trading | | |
| Customer Service | ||
| Locations | ||
| Online Community | ||
| Seminars | ||
| Virtual Trading | ||
| Fractional Shares | ||
| Taxable Accounts | ||
| 401k Plans | ||
| IRA Accounts | ||
| Roth IRA Accounts | ||
| SEP IRA Accounts | ||
| Trust Accounts | ||
| 529 Plans | ||
CreditDonkey® Reviews | ||
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| Annual Fee |  | |
| Minimum Deposit | | |
| Mobile App |  |  |
| Customer Service | | |
| Ease of Use | | |
| Research | | |
| Stock Trading | | |
| Options Trading | | |
| Mutual Fund Trading | | |
| Banking | | |
| Commissions and Fees | | |
| Online Community | | |
| Trading Platform | | |
| Pros & Cons | Pros:
| Pros:
|
| Bottom Line | No-fee investing app that allows you to choose your own investments... | Good low-price discount stock broker for savvy investors... |
| Visit Site | Learn More | |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. M1 Finance: Pricing information from published website as of 12/26/2023. Ally Invest: Pricing information from published website as of 04/01/2021. | ||
M1 Investment Account - Up to $500 Bonus
Open a new M1 investment account. Deposit $10,000 or more into the account within 14 calendar days of account opening. Promotional credit will depend on the deposited value made into the account.
| Deposited Value | Promotional Credit |
|---|---|
| $10,000 - $29,999.99 | $75 |
| $30,000 - $49,999.99 | $150 |
| $50,000 - $99,999.99 | $250 |
| $100,000+ | $500 |
This offer is only for customers who have never registered for an M1 user account.
Commission Free Stock Trading
M1 Finance allows investors the choice of ETFs and stocks. M1 charges no management fees or commission.
Get M1 Plus Free for First 3 Months
New M1 customers get M1 Plus for free on their first 3 months, then it's just $3 a month.
M1 Plus is a paid membership that confers benefits for products and services offered by M1 Finance LLC, M1 Spend LLC and M1 Digital LLC, each a separate, affiliated, and wholly-owned operating subsidiary of M1 Holdings Inc. "M1" refers to M1 Holdings Inc., and its affiliates.
*Your free trial (a $9 value) begins the date you enroll in the M1 Plus subscription, and ends 3 months after (“Free Trial”). Upon expiry of the Free Trial, your account is automatically billed a monthly subscription fee of $3 unless you elect annual billing of $36 or cancel your subscription under your Membership details in the M1 Platform. We'll remind you when your renewal date is approaching.
Which is Better: M1 Finance or Ally Invest?
Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing M1 Finance or Robinhood.
In short: M1 Finance's mobile app is notable. Ally Invest's research is noteworthy.
Articles on M1 Finance
M1 Finance Reviews
Best M1 Finance Pie
M1 Finance Alternatives
Articles on Ally Invest
Ally Invest Review
Is Ally Invest Good For Beginners
Ally Invest Roth IRA
Ally Invest Login
Which Do You Think is Best?
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