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M1 Finance vs Merrill Edge

M1 Finance is a no-fee investing app that allows you to choose your own investments. How does it compare to Merrill Edge? Read our comparison chart below.

M1 Finance offers free automated investing with no commissions or account 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 Merrill Edge (a subsidiary of Bank of America) offers stock trades at $0 commission and options trading at $0 + $0.65 per contract. There is no account minimum, no maintenance fee, and no inactivity fee.

Compare M1 Finance with Merrill Edge, side-by-side.

 M1 Finance
 Visit SiteLearn More
 

M1 Finance

Merrill Edge

SPECIAL OFFER
M1 Investment Account - Up to $500 Bonus - Learn More

Read M1 Finance Review

SPECIAL OFFER
$100 Bonus Offer - Learn More

 

Benefits and Features

Stock Trading
$0
$0 per trade
Options Trading
No
$0 + $0.65 per contract
Annual Fee
None
 
Cryptocurrency Trading
Yes
 
Minimum Deposit
$100
$0
Mutual Fund Trading
No
$0 for no load, no-transaction-fee funds ($39.95 short-term redemption fee if the fund is held less than 90 days) $19.95 for no load, transaction-fee funds
Commission Free ETFsAll U.S. listed ETFs
Check
Phone SupportMonday - Friday 9:30 am to 4 pm EST 
Live Chat Support
No
 
Email Support
Yes
 
Human Advisors
No
 
Assets Under Management
$4.5 Billion
 
Tax Loss HarvestingNo, but offers tax minimization features 
Goal Tracker
No
 
Automatic Deposits
Yes
 
Broker Assisted Trades
Included
$29.95
Good ForDIY investing with passive portfolio management 
Inactivity Fee$50 (for accounts with less than $50 and no activity for 90+ days)
None
Maintenance Fee
$0
$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.
Through Bank of America
Mobile App
Check
Yes
Desktop App 
Yes
Two-Factor Authentication
Yes
 
Forex Trading 
No
Futures Trading 
No
Customer Service 
24/7
Locations
No
More than 2,100 Bank of America locations
Online Community
No
No
Seminars
No
Yes
Virtual Trading
No
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 Finance
Annual FeeStarStarStarStarStar
Minimum DepositStarStarStarStarStar
Mobile AppStarStarStarStarHalf Star
Customer ServiceStarStarStarHalf StarEmpty Star
Ease of UseStarStarStarStarHalf Star
ResearchStarEmpty StarEmpty StarEmpty StarEmpty 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
Bottom LineNo-fee investing app that allows you to choose your own investments... Read full review
 Visit SiteLearn More

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.

Merrill Edge: Pricing information from published websites as of 10/17/2023.

M1 Finance

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 ValuePromotional 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.

Expires 12/31/2024
M1 Finance

Transfer and Earn Up to $20,000

Complete an Automated Customer Account Transfer Service (ACATS) of at least $100,000 in aggregate and earn up to $20,000. Promotional credit will depend on the amount transferred to the account.

Transfer Account ValuePromotional Credit
$100,000 - $249,999$250
$250,000 - $499,999$1,000
$500,000 - $999,999$2,000
$1,000,000 - $1,999,999$4,000
$2,000,000 - $4,999,999$10,000
$5,000,000 - $6,999,999$15,000
$7,000,000+$20,000

This offer is valid for new and existing M1 customers. Terms and conditions apply.

Expires in 2 days
M1 Finance

Commission Free Stock Trading

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

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.

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.

Which Do You Think is Best?





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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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