M1 Finance vs Ally Invest

M1 Finance is a commission-free 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 automated investing with no commissions or trading 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 and reviews.

	M1 Finance	Ally Invest
	SPECIAL OFFER Commission Free Stock Trading - Learn More Read M1 Finance Review	SPECIAL OFFER Commission-Free Stock Trades - 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	A $3 monthly platform fee will apply to clients with less than $10,000 in M1 assets or without an active M1 Personal Loan.	$0
Cryptocurrency Trading	Yes
Minimum Deposit	$100 ($500 for IRAs, $5,000 for Trust Account)	$0
Mutual Fund Trading	No	$0 to buy/sell load mutual funds $0 to buy/sell no load mutual funds
Commission Free ETFs	All U.S. listed ETFs	500+
Phone Support	Monday - Friday 9:30 am to 4 pm EST
Live Chat Support	No
Email Support	Yes
Human Advisors	No
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 Harvesting	No, but offers tax minimization features
Goal Tracker	No
Automatic Deposits	Yes
Broker Assisted Trades	Included	$20 + Regular Commission
Good For	DIY investing with passive portfolio management
Inactivity Fee	$50 (for accounts with $50 or less and no trading or deposit activity for 90+ days)	$0
Maintenance Fee	$3 monthly platform fee for accounts with less than $10,000 in M1 assets, or without an active M1 Personal Loan
Online Platform	Yes
iPhone App	Yes (4.6 stars, 33.3k ratings)
Android App	Yes (4.5 stars, 15.7k ratings)
Banking		Integrated with banking on ally.com. Manage your Ally banking and investment accounts in one place.
Mobile App
Two-Factor Authentication	Yes
Forex Trading
Customer Service		(855) 880-2559
Locations	No
Online Community	No
Seminars	No
Trading Platform	Web Trading, Mobile Apps	Web Trading, Mobile Apps
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
Annual Fee
Minimum Deposit
Mobile App
Customer Service
Ease of Use
Research
Pros & Cons	Pros: Choose your own investments Can invest in individual stocks Morning and afternoon trade windows Cons: No research No human advisors Platform fee
Bottom Line	Commission-free investing app that allows you to choose your own investments... Read full review	Read full review
	Commission Free Stock Trading M1 Finance Fees Invest Automatically with M1 Finance	Commission-Free Stock Trades Open an Ally Invest account Automated Investing to Help Save Your Time
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 01/08/2025.

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.

Articles on M1 Finance

M1 Finance Reviews

Is M1 Finance legitimate and safe? Find out the pros, cons, fees, and more. An essential read for beginners interested in M1 Finance.

• M1 Finance vs Robinhood
• M1 Finance vs Acorns
• M1 Finance vs Webull

Best M1 Finance Pie

M1 Finance is a commission-free investment app offering ready-made portfolios that are made up of "pies." What's the best M1 Finance Pie? Find out.

M1 Finance Alternatives

M1 Finance is a popular app for commission-free investing. But is there a better option for you? Find out in this detailed guide to M1 Finance alternatives.

Articles on Ally Invest

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.

Which Do You Think is Best?

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