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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 FinanceAlly Invest
 Visit SiteVisit Site
 

M1 Finance

Ally Invest

SPECIAL OFFER
Commission Free Stock Trading - Learn More

Read M1 Finance Review

SPECIAL OFFER
Get Up to $3,000 - Learn More

Read Ally Invest Review

 

Benefits and Features

Stock Trading
$0
$0 per trade
Options Trading
No
$0 base + $0.50 per contract
Annual Fee
None
 
Cryptocurrency Trading
No
 
Minimum Deposit
$100
$0
Mutual Fund Trading
No
  • $0 to buy/sell load mutual funds
  • $9.95 to buy/sell no load mutual funds
Commission Free ETFsAll U.S. listed ETFs
500+
Phone SupportMonday - Friday 9:30 am to 4 pm EST 
Live Chat Support
No
 
Email Support
Yes
 
Human Advisors
No
 
Robo AdvisorHybrid; You choose your own investments and M1 trades & manages your portfolio for you 
Assets Under Management
$4.5 Billion
 
Penny Stocks $0.01 per share on the entire order for stocks priced less than $2.00.
Tax Loss HarvestingNo, but offers tax minimization features 
Goal Tracker
No
 
Automatic Deposits
Yes
 
Broker Assisted Trades
Included
$20 + Regular Commission
Customer Service 
(855) 880-2559
Good ForDIY investing with passive portfolio management 
Inactivity Fee$20 (for accounts with less than $20 and no activity for 90+ days) 
Maintenance Fee
$0
 
Online Platform
Yes
 
iPhone App
Yes (4.6 stars, 33.3k ratings)
 
Android App
Yes (4.5 stars, 15.7k ratings)
 
BankingAll 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
Check
Check
Two-Factor Authentication
Yes
 
Forex Trading 
Check
Locations
No
 
Online Community
No
 
Seminars
No
 
Virtual Trading
No
 
Fractional Shares
Yes
 
Taxable Accounts
Yes
 
401k Plans
No
 
IRA Accounts
Yes
 
Roth IRA Accounts
Yes
 
SEP IRA Accounts
Yes
 
Trust Accounts
Yes
 
529 Plans
No
 
 

CreditDonkey® Reviews

 M1 FinanceAlly Invest
Annual FeeStarStarStarStarStar
Minimum DepositStarStarStarStarStar
Customer ServiceStarStarStarHalf StarEmpty Star
Mobile AppStarStarStarStarHalf StarStarStarStarHalf StarEmpty Star
Ease of UseStarStarStarStarHalf StarStarStarStarStarEmpty Star
ResearchStarEmpty StarEmpty StarEmpty StarEmpty StarStarStarStarHalf StarEmpty Star
Stock TradingStarStarStarStarStar
Options TradingStarStarStarStarStar
BankingStarStarStarStarHalf Star
Commissions and FeesStarStarStarStarStar
Online CommunityStarStarStarStarStar
Trading PlatformStarStarStarStarEmpty Star
Pros & ConsPros:
  • Choose your own investments
  • Can invest in individual stocks
  • No account fees
Cons:
  • No research
  • No human advisors
  • Can only trade once a day
Pros:
  • Low commission for stock trades
  • No account minimums
  • Ally platform
Cons:
  • No physical locations
Bottom LineNo-fee robo-advisor that allows you to choose your own investments... Read full reviewGood low-price discount stock broker for savvy investors... Read full review
 Visit SiteVisit Site

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.

Ally Invest

Get Up to $3,000

Expires in 5 days

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 TransferCash 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

Ally Invest

Get Up to $3,000 Cash Bonus

Expires in 5 days

New Ally Invest customers only. Account must be funded for at least 60 days to be eligible for cash bonus.

Ally Invest

Commission-Free Stock Trades

With no minimum account balance and no minimum trade activity

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

M1 Finance lets you invest in stocks and ETFs without fees. But is it safe? Find out the pros and cons, and if it's legit.

Articles on Ally Invest

Ally Invest Review

Ally Invest offers free trades for stocks and ETFs. But is it good? Find out how it compares to other online brokers.

Ally Invest Roth IRA

Ally Invest's Roth IRA account has no annual fee and no commission trades. Is it right for your retirement funds? Read on to learn how Ally Invest Roth IRA accounts work.

Ally Invest Login

Ally Invest offers good customer service and online login access. The best way to connect with Ally Invest customer service may surprise you. Read on.

Which Do You Think is Best?





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