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M1 Finance vs Fidelity

M1 Finance is a no-fee robo-advisor that allows you to choose your own investments. How does it compare to Fidelity? 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 Fidelity offers stock trades at $0 per trade and more than 180 branch locations. There is no minimum deposit.

Compare M1 Finance with Fidelity, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 M1 Finance
 Visit SiteLearn More
 

M1 Finance

Fidelity

SPECIAL OFFER
Commission Free Stock Trading - Learn More

Read M1 Finance Review

SPECIAL OFFER
Commission-Free Trading - Online Stock, ETF and Option Trades - Learn More

Read Fidelity Review

 

Benefits and Features

Stock Trading
$0
$0 per trade
Options Trading
No
$0 per online trade, plus $0.65 per contract
Annual Fee
None
None
Cryptocurrency Trading
No
No
Minimum Deposit
$100
$0
Mutual Fund Trading
No
  • $0 transaction fee for Fidelity funds
  • $0 on purchase for NTF (no transaction fee) non-Fidelity funds. ($49.95 on redemption if held less than 60 days)
  • $49.95 on purchase for non-Fidelity funds; $0 on redemption. (Certain funds may have a $75 transaction fee).
Commission Free ETFsAll U.S. listed ETFs357 including 28 Fidelity factor, sector, stock, and bond ETFs and 329 iShares® ETFs
Phone SupportMonday - Friday 9:30 am to 4 pm EST
(800) 343-3548; available 24/7
Live Chat Support
No
No
Email Support
Yes
Yes
Human Advisors
No
Optional coaching or investment management with human advisors (for added fees)
Robo AdvisorHybrid; You choose your own investments and M1 trades & manages your portfolio for youOptional Fidelity Go robo-advisory service
Assets Under Management
$4.5 Billion
$4.9 Trillion
Tax Loss HarvestingNo, but offers tax minimization features
No
Goal Tracker
No
Yes
Automatic Deposits
Yes
Yes
Broker Assisted Trades
Included
$32.95 per trade for representative-assisted trades.
Good ForDIY investing with passive portfolio managementMore experienced DIY investors; Mutual fund investors
Inactivity Fee$20 (for accounts with less than $20 and no activity for 90+ days)
$0
Maintenance Fee
$0
$0 account service fee
Online Platform
Yes
Yes (access to Active Trader Pro is available to those who trade 36 times or more in a rolling 12 month period)
iPhone App
Yes (4.6 stars, 33.3k ratings)
Yes (4.8 stars, 1.7m ratings)
Android App
Yes (4.5 stars, 15.7k ratings)
Yes (4.5 stars, 97k ratings)
BankingAll users can open a M1 Spend account with free debit card. No monthly service fees and no balance requirements.Fidelity Cash Management Account includes reimbursed ATM fees, no monthly fee, no minimum balance requirement, FDIC insurance, mobile check deposit, free billpay and free checkwriting.
Mobile App
Check
Check
Two-Factor Authentication
Yes
Yes
Locations
No
More than 180
Online Community
No
Yes, it has an investor forum
Seminars
No
Yes, frequent webinars and courses for beginners
Virtual Trading
No
No
Fractional Shares
Yes
Yes
Taxable Accounts
Yes
Yes
401k Plans
No
Yes
IRA Accounts
Yes
Yes
Roth IRA Accounts
Yes
Yes
SEP IRA Accounts
Yes
Yes
Trust Accounts
Yes
Yes
529 Plans
No
Yes
 

CreditDonkey® Reviews

 M1 Finance
Annual FeeStarStarStarStarStar
Minimum DepositStarStarStarStarStar
Customer ServiceStarStarStarHalf StarEmpty Star
Mobile AppStarStarStarStarHalf StarStarStarStarStarEmpty Star
Ease of UseStarStarStarStarHalf Star
ResearchStarEmpty StarEmpty StarEmpty StarEmpty StarStarStarStarStarStar
Stock TradingStarStarStarStarEmpty Star
Options TradingStarStarStarStarEmpty Star
Mutual Fund TradingStarStarStarStarHalf Star
BankingStarStarStarStarStar
Commissions and FeesStarStarStarStarEmpty 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:
  • Research reports
  • Beginner-friendly tools
  • Mobile app
Cons:
  • Restricted platform
Bottom LineNo-fee robo-advisor that allows you to choose your own investments... Read full reviewComprehensive online broker with in-depth research... Read full review
 Visit SiteLearn More

M1 Finance: Pricing information from published website as of 02/28/2020

Fidelity: Pricing information from published website as of 12/05/2020.

M1 Finance

Commission Free Stock Trading

M1 Finance allows investors the choice of ETFs and stocks. M1 charges no management fees or commission.

M1 Finance

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.

Which is Better: M1 Finance or Fidelity?

Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing M1 Finance or eToro.

In short: Fidelity's research is excellent.


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.

Best M1 Finance Pie

M1 Finance is a fee-free investment app offering pre-selected portfolios called "pies." What's the best M1 Finance Pie? Find out.

M1 Finance Alternatives

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

Articles on Fidelity

Fidelity Investment Brokerage Review

Thinking of opening a brokerage account with Fidelity? There are many reasons to love Fidelity and a few reasons to think about going elsewhere.

Which Do You Think is Best?





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About CreditDonkey
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Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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