M1 Finance vs Ally Invest
M1 Finance is a no-fee robo-advisor 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. Unlike other robo-advisors, 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.
 |  | |
 | | |
M1 Finance | Ally Invest | |
|---|---|---|
Commission Free Stock Trading - | Get Up to $3,000 - | |
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 | ||
| Robo Advisor | Hybrid; You choose your own investments and M1 trades & manages your portfolio for you | |
| 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 | ||
| Customer Service | ||
| Good For | DIY investing with passive portfolio management | |
| Inactivity Fee | $20 (for accounts with less than $20 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 | | |
| 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 | ||
| | |
| Annual Fee |  | |
| Minimum Deposit | | |
| Customer Service |   | |
| Mobile App | | |
| Ease of Use | | |
| Research | | |
| Stock Trading | | |
| Options Trading | | |
| Banking | | |
| Commissions and Fees | | |
| Online Community | | |
| Trading Platform | | |
| Pros & Cons | Pros:
| Pros:
|
| Bottom Line | No-fee robo-advisor that allows you to choose your own investments... | Good low-price discount stock broker for savvy investors... |
| | |
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 02/28/2020 Ally Invest: Pricing information from published website as of 04/01/2021. | ||
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. M1 Plus is $125/year.
M1 Plus is a $125 annual subscription offering products and services from M1 Spend LLC and M1 Finance LLC, both wholly-owned, separate but affiliated subsidiaries of M1 Holdings Inc.
*Your free trial (a $31.25 value) begins the date you enroll in the M1 Plus subscription, and ends 90 days after ("Free Trial"). Upon expiry of the Free Trial, your account is automatically billed an annual subscription fee of $125 unless you cancel under your Membership details in the M1 Platform.
Get Up to $3,000
The minimum qualifying deposit to receive a cash bonus is $10,000. Accounts will be reviewed 60 days after account opening to determine the total qualifying deposit. Corresponding cash bonus will be credited to the account within 10 business days. Once the bonus is credited to the account, the bonus and qualifying deposit (minus any trading losses) is not available for withdrawal for 300 days. If the qualifying deposit is withdrawn, the bonus may be revoked.
| Deposit or Transfer | Cash Bonus |
|---|---|
| $10,000 - $24,999 | $100 |
| $25,000 - $99,999 | $250 |
| $100,000 - $249,999 | $300 |
| $250,000 - $499,999 | $600 |
| $500,000 - $999,999 | $1,200 |
| $1,000,000 - $1,999,999 | $2,000 |
| $2,000,000+ | $3,000 |
Get Up to $3,000 Cash Bonus
New Ally Invest customers only. Account must be funded for at least 60 days to be eligible for cash bonus.
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 Acorns.
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
Ally Invest Roth IRA
Ally Invest Login
Which Do You Think is Best?
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