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 | Fidelity | |
|---|---|---|
M1 Investment Account - Up to $500 Bonus - | Commission-Free Trading - Online Stock, ETF and Option Trades - | |
Benefits and Features | ||
| Stock Trading | ||
| Options Trading | $0 per online trade, plus $0.65 per contract | |
| Annual Fee | ||
| Cryptocurrency Trading | ||
| Minimum Deposit | ||
| Mutual Fund Trading |
| |
| Commission Free ETFs | All U.S. listed ETFs | 357 including 28 Fidelity factor, sector, stock, and bond ETFs and 329 iShares® ETFs |
| Phone Support | Monday - Friday 9:30 am to 4 pm EST | |
| Live Chat Support | ||
| Email Support | ||
| Human Advisors | Optional coaching or investment management with human advisors (for added fees) | |
| Robo Advisor | Hybrid; You choose your own investments and M1 trades & manages your portfolio for you | Optional Fidelity Go robo-advisory service |
| Assets Under Management | ||
| Tax Loss Harvesting | No, but offers tax minimization features | |
| Goal Tracker | ||
| Automatic Deposits | ||
| Broker Assisted Trades | $32.95 per trade for representative-assisted trades. | |
| Good For | DIY investing with passive portfolio management | More experienced DIY investors; Mutual fund investors |
| Inactivity Fee | $20 (for accounts with less than $20 and no activity for 90+ days) | |
| Maintenance Fee | ||
| Online Platform | Yes (access to Active Trader Pro is available to those who trade 36 times or more in a rolling 12 month period) | |
| 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. | 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 |  | |
| Two-Factor Authentication | ||
| Locations | ||
| Online Community | ||
| Seminars | Yes, frequent webinars and courses for beginners | |
| 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 | | |
| Mutual Fund Trading | | |
| Banking | | |
| Commissions and Fees | | |
| Pros & Cons | Pros:
| Pros:
|
| Bottom Line | No-fee robo-advisor that allows you to choose your own investments... | Comprehensive online broker with in-depth research... |
| | |
M1 Finance: Pricing information from published website as of 02/28/2020 Fidelity: Pricing information from published website as of 12/05/2020. | ||
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.
Transfer and Earn Up to $10,000
Complete an Automated Customer Account Transfer Service (ACATS) of at least $50,000 in aggregate and earn up to $10,000. Promotional credit will depend on the amount transferred to the account.
| Transfer Account Value | Promotional Credit |
|---|---|
| $50,000 - $249,999.99 | $250 |
| $250,000 - $499,999.99 | $1,000 |
| $500,000 - $999,999.99 | $2,000 |
| $1,000,000 - $1,999,999.99 | $4,000 |
| $2,000,000+ | $10,000 |
This offer is valid for new and existing M1 customers.
Commission Free Stock Trading
M1 Finance allows investors the choice of ETFs and stocks. M1 charges no management fees or commission.
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
Best M1 Finance Pie
M1 Finance Alternatives
Articles on Fidelity
Fidelity Investment Brokerage Review
Which Do You Think is Best?
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