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M1 Finance vs OANDA

M1 Finance is a commission-free investing app that allows you to choose your own investments. How does it compare to OANDA? Read our comparison chart below.

 M1 FinanceOANDA
 Visit SiteVisit Site
 

M1 Finance

OANDA

SPECIAL OFFER
Commission Free Stock Trading - Learn More

Read M1 Finance Review

SPECIAL OFFER
Earn Cash Rebates of up to $17 per Million - Learn More

Read OANDA Review

 

Benefits and Features

Stock Trading
$0
No
Options Trading
No
No
Annual FeeA $3 monthly platform fee will apply to clients with less than $10,000 in M1 assets or without an active M1 Personal Loan. 
Cryptocurrency Trading
Yes
 
Minimum Deposit$100 ($500 for IRAs, $5,000 for Trust Account)
$0
Mutual Fund Trading
No
No
Commission Free ETFsAll U.S. listed ETFs
Not available
Phone SupportMonday - Friday 9:30 am to 4 pm EST 
Live Chat Support
No
Yes
Email Support
Yes
 
Human Advisors
No
 
Assets Under Management
$4.5 Billion
 
Penny Stocks 
Not available
Tax Loss HarvestingNo, but offers tax minimization features 
Goal Tracker
No
 
Automatic Deposits
Yes
 
Broker Assisted Trades
Included
Not available
Good ForDIY investing with passive portfolio management 
Inactivity Fee$50 (for accounts with $50 or less and no trading or deposit activity for 90+ days)
$10/month
Maintenance Fee$3 monthly platform fee for accounts with less than $10,000 in M1 assets, or without an active M1 Personal Loan
None
Online Platform
Yes
Yes
iPhone App
Yes (4.6 stars, 33.3k ratings)
 
Android App
Yes (4.5 stars, 15.7k ratings)
 
Banking 
No
Mobile App
Check
Yes
Desktop App 
Yes (fxTrade)
Two-Factor Authentication
Yes
 
Forex Trading 
Yes
Futures Trading 
No
Bond Trading 
No
CFD Trading Yes (CFD trading is not permitted in the US)
Currency Trading 
Yes
Customer Service Local number +1 212 858 7690;
Toll-free number 1 877 OANDA FX (1 877 626 3239)
Sunday 4PM ET to Friday 6PM ET
Locations
No
Online only
Online Community
No
Yes
Seminars
No
Yes
Trading Platform OANDA Web, OANDA Mobile, TradingVIew, MetaTrader4
Virtual Trading
No
Yes
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 FinanceOANDA
Annual FeeStarStarStarStarStar
Minimum DepositStarStarStarStarStar
Mobile AppStarStarStarStarHalf StarStarStarStarStarEmpty Star
Customer ServiceStarStarStarHalf StarEmpty StarStarStarStarStarStar
Ease of UseStarStarStarStarHalf StarStarStarStarStarEmpty Star
ResearchStarEmpty StarEmpty StarEmpty StarEmpty Star
SpreadStarStarStarStarEmpty Star
EducationStarStarStarEmpty StarEmpty Star
Forex TradingStarStarStarStarHalf Star
Trading PlatformStarStarStarStarHalf Star
TrustworthyStarStarStarStarStar
Pros & ConsPros:
  • Choose your own investments
  • Can invest in individual stocks
  • Morning and afternoon trade windows
Cons:
  • No research
  • No human advisors
  • Platform fee
Pros:
  • $0 minimum
  • Exceptional customer service
  • User-friendly platform
Cons:
  • Only 1:50 leverage
  • Slow withdrawal processing
  • Incomprehensive educational videos
Bottom LineCommission-free investing app that allows you to choose your own investments... Read full reviewRegulated forex broker with no minimum deposit... 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 12/26/2023.

OANDA: Information sourced from the published website as of 04/22/2024.

OANDA: OANDA Corporation is regulated by the CFTC/NFA. OANDA is a member Firm of the NFA (Member ID: 0325821). CFDs are not available to residents in the United States.

OANDA CORPORATION IS A MEMBER OF NFA AND IS SUBJECT TO NFA'S REGULATORY OVERSIGHT AND EXAMINATIONS. HOWEVER, YOU SHOULD BE AWARE THAT NFA DOES NOT HAVE REGULATORY OVERSIGHT AUTHORITY OVER UNDERLYING OR SPOT VIRTUAL CURRENCY PRODUCTS OR TRANSACTIONS OR VIRTUAL CURRENCY EXCHANGES, CUSTODIANS OR MARKETS

Trading in digital assets, including cryptocurrencies, is especially risky and is only for individuals with a high risk tolerance and the financial ability to sustain losses. OANDA Corporation is not party to any transactions in digital assets and does not custody digital assets on your behalf. All digital asset transactions occur on the Paxos Trust Company exchange. Any positions in digital assets are custodied solely with Paxos and held in an account in your name outside of OANDA Corporation. Digital assets held with Paxos are not protected by SIPC. Paxos is not an NFA member and is not subject to the NFA's regulatory oversight and examinations.

Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances. You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.

M1 Finance

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 OANDA?

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.

In short: OANDA's customer service is outstanding.


Articles on M1 Finance

M1 Finance Review

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 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 OANDA

OANDA Review

OANDA is one of the leading forex and CFD trading providers. But what does it offer? Read on to discover how OANDA elevates your trading journey.

OANDA Spreads

OANDA is one of the world's top forex brokers. But does it have competitive spreads? Read on to find out.

OANDA Withdrawal

Trading is no fun if you can't withdraw your earnings. So how do you withdraw funds at OANDA? Read on to find out.

OANDA Minimum Deposit

OANDA is a suitable forex broker for traders of all levels. Wondering if it has a minimum deposit requirement? Read on to find out.

OANDA Approval Time

OANDA is one of the world's most reputable forex brokers. But how long does it take to get your account approved? Read on to find out.

OANDA vs FOREX.com

OANDA and FOREX.com are both highly regulated and trusted forex brokers. But one of them is a better option. Which one?

Which Do You Think is Best?





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