Updated October 23, 2026

M1 Finance review covers a platform that combines automated investing with detailed portfolio control through its Pie system, alongside banking and borrowing. This page sets out how it works, what it costs and where it falls short. Updated September 2026.

M1 Finance at a glance

• Core feature: the Pie system, where a portfolio is built as slices with target percentages

• Commission: none on investing

• Account management fee: none

• Checking account: interest-earning, no upkeep fee

• Borrowing: revolving line of credit against your portfolio

• Retirement accounts: traditional, Roth and SEP IRAs

• Rebalancing: automatic, new deposits directed to underweighted slices

• Not offered: advisory services, personal recommendations, tax-loss harvesting

How the Pie system works

This is the feature that defines the platform. You build a portfolio as a pie, where each slice is a holding with a target percentage. When you deposit, the algorithm identifies which slices are below their target and directs the new money there, pulling the portfolio back towards your intended allocation without you placing individual trades.

M1 FINANCE OVERVIEW

For a long-term investor that solves a real problem. Manual rebalancing is tedious and most people skip it, letting winners grow into an oversized position and quietly raising portfolio risk. Automating it through deposits handles the maintenance without triggering the tax events a full rebalance would.

What it costs

M1 removes the fees that usually apply: no trading commission, no account management fee, no checking account upkeep charge and no borrowing fee on the credit line beyond the interest itself. Combining investing, banking and lending in one account is the reason the platform attracts people consolidating their finances rather than just trading.

Accounts available

Beyond a standard brokerage account, M1 offers traditional, Roth and SEP IRAs, which puts it ahead of most app-based investing platforms. An interest-earning checking account and a revolving line of credit against your portfolio complete the set. Borrowing against holdings can be useful for short-term liquidity, though it carries the risk that a market fall forces you to repay or sell at the worst moment.

Where M1 falls short

Three gaps matter. There is no access to advisory services or personal recommendations, so you build the portfolio yourself with no professional input. There is no tax-loss harvesting, which costs you a real tax advantage that competing robo-advisors provide. And automated rebalancing works through new deposits rather than a full periodic rebalance, so a portfolio that drifts badly without new contributions will stay drifted.

User feedback adds a fourth: customer service responsiveness draws complaints, with reported difficulty reaching support. For a platform holding retirement accounts, that is worth factoring in.

Platform and experience

The app and desktop platform both centre on the Pie interface, and users consistently rate it as easy to use. Cash management, portfolio construction and ongoing management all run through the same interface, which is the point: the design assumes you set an allocation and maintain it rather than trading actively.

Who M1 Finance suits

• Long-term investors who want a set allocation maintained automatically

• Anyone consolidating investing, banking and borrowing in one place

• Retirement savers who want IRAs alongside a taxable account

• Not suitable if you want advice, tax-loss harvesting or active trading tools

M1 Finance works best for a disciplined long-term investor who knows their target allocation and wants it maintained without effort. If you need research, advice or tax optimisation, look at fuller-service options in our broker hub, and Fidelity Investments review covers a provider with both.

M1 Finance review: frequently asked questions

Is M1 Finance legitimate?

Yes. It is an established US investing platform offering brokerage accounts, IRAs, banking and a portfolio-backed credit line.

Access to advisory services or recommendations

What does M1 Finance charge?

No trading commission, no account management fee and no checking account upkeep charge. Interest applies if you use the borrowing line.

What is a Pie?

A portfolio built as slices with target percentages. When you deposit, the algorithm directs money to slices below target, keeping your allocation on track without manual trades.

HOW MUCH CAN YOU EARN FROM M1 FINANCE

HOW MUCH CAN YOU EARN FROM M1 FINANCE

HOW MUCH CAN YOU EARN FROM M1 FINANCE

Does M1 offer tax-loss harvesting?

No. That is one of the main gaps compared with competing robo-advisors, and it represents a real tax advantage you forgo.

HOW TO OPEN AN M1 FINANCE ACCOUNT

HOW TO OPEN AN M1 FINANCE ACCOUNT

HOW TO OPEN AN M1 FINANCE ACCOUNT

HOW TO OPEN AN M1 FINANCE ACCOUNT

HOW TO OPEN AN M1 FINANCE ACCOUNT

Can I get investment advice from M1?

No. There is no access to advisory services or personal recommendations, so you build the portfolio yourself.

WHAT ARE PAYMENT METHODS AVAILABLE WITH M1FINANCE?

WHAT IS MINIMUM AND MAXIMUM DEPOSIT AMOUNT WITH M1FINANCE?

What accounts can I open?

A standard brokerage account, traditional, Roth and SEP IRAs, an interest-earning checking account and a revolving line of credit against your portfolio.

CUSTOMER SUPPORT

Tradable securities

Desktop Usage

MANAGING YOUR PORTFOLIO

PORTFOLIO FORMATION

CASH MANAGEMENT

M1FINANCE APP

WHAT ARE TRADEABLE ASSETS AVAILABLE?