M1 Reviews

I can’t talk to anybody and I cannot log into my account. There is a 2F for my security but I can’t log into my account bc of that. I’ve tried to remove it but the support says that they will confirm your identity first before removing that. I have been waiting for weeks now and I haven’t gotten a single message as to what is happening. I’ve done it twice now and still can’t log in. They sent me messages but I can’t even read them bc they send it through the account that I CANNOT log into.
I also got another account opened with with them bc someone referred me so I received 30$ but they didn’t even credit it to the account I opened they opened a separate one. Well long story short they ended up taking money away from that 30$ account due to fees and a because I was not meeting the requirement of the amount it was supposed to have to keep it open. So they took the stupid 30$ that they gave me so yeah rip off. The whole thing rip off.

Date of experience: January 05, 2025

You guys should have been open about all these hidden fees you're charging. I wasn't aware about the charges because you guys made it obvious it's free. The charges has drastically reduce my money and i think it's a statics to steal from me. I am closing down my account and focus on Hi ghs take llc ! A honest and legit company.

Date of experience: October 21, 2024

dishonest and greedy. they started charging fees and then held us hostage by not letting us sell out while incurring fees for 3+ months. customer service is nonexistent or impossible to get ahold of. i deeply regret ever having anything to do with m1.

Date of experience: May 01, 2024

Complete scam. These thieves have the highest transfer out fees. 100$ to liquidate. They suddenly started charging a 36$ a year fee. Customer service is unfriendly and only interested in large accounts though there are several better brokers and banks, like SoFi or Fidelity or Vanguard or Capita One. Also they force everyone into share holding which can lose all your value. The auto invest means you'll end up paying a lot in fees if you rebalanced..

Date of experience: April 13, 2024

I had to close my account with M1 because of a policy at a new job. My work gave me a month to do this after hire, which should have been plenty of time. I’ve had to ask for an extension because 1. Their automated process didn’t work in my case for whatever reason so I had to escalate to customer service after 2 weeks of waiting, trusting the system would do what it said and that it just takes several business days for everything to get squared away.
2. I then emailed their help email address and was promised a fix in 5 business days, and the personal attention of the engineering team whom my concern would be escalated to. 10 business days and more emails later I don’t have any visibility into when my account will be closed.

Date of experience: September 15, 2024

I’ve been with M1 Finance since its early days, trusting it as a platform that seemed to genuinely prioritize its users, especially smaller investors. Unfortunately, recent changes show a stark shift away from those values. M1 now charges monthly fees that hit small accounts particularly hard. For those of us with smaller balances, these fees can quickly erode any growth and significantly reduce the value of the service.

After I decided to remove my money due to these fees, M1 charged both of my accounts a 40% fee. This was the final blow—a punitive fee for simply trying to leave the platform! What was once an accessible platform is now veering towards fee gouging, especially given their “one-size-fits-all” approach to fees, regardless of the account size.

This change in business practices feels like a betrayal, as M1 seems to care more about extracting fees than supporting the average investor they initially set out to serve. I’d hoped M1 Finance would stick to its original values, but this transition is pushing loyal customers to reconsider whether M1 is still the right fit.

Date of experience: October 25, 2024

Very sneaky disclosure fee tactics!!!
It's says account is free , it's never been disclosure upon sign up that you have to pay $200 in case you want to close the account with them... Make sure you do thorough research before signing up with them. who knows what other fees-traps there are hiding from you.

Date of experience: June 14, 2024

- Would be nice to be able to buy any company irregardless of volume trade.
- Should give investors more access to buy more OTC and foreign stocks.
- Need to allow investors to search stocks and ETF's by country/region
- Should provide financial statements to user's and allow them to customize charts (Comparing stock price to past earnings, P/FCF, etc)
- Get rid of the trade windows or get rid of the minimum balance in an account to trade in either morning/afternoon if you're paying for M1 plus. At least look at total balance.

Date of experience: June 11, 2022

As of 5/15/24 m1 has begun charging $3/month "platform fee" for investment accounts unless you have $10,000 in assets in your account. It used to be fee-free for any balance and the premium account was an optional subscription to get additional perks. The only reason I ever had an account with them was because they had the free tier. I liquidated and closed my account but they still kept the $3 and told me to kick rocks when I asked for it back.

Date of experience: May 15, 2024

M1 is an unethical company. They lied about having high-yield savings accounts while promoting them on their website, so when I tried to sign up for one - they just created an investment account instead. I thought it was my new savings account, so I let them use Plaid to run my bank account. When I figured it out, I had to fight with them to delete the investment account, even though I never put in any money. Now they refuse to delete my info from their PoS platform, hiding behind FINRA. Total garbage. BUYER BEWARE.

Date of experience: September 18, 2023

One Star for the reward to become a customer and/or refer others into this suck institution.

You may deposit a small amount of money, finally figure out the confusion of their simplistic methods.

However, if ever you want to close the account AVOID $100 FEE to transfer to another Broker. As-well-as the $25 FEE for drafting a check to get your money. See their long list of fees, including $20 FEE for Inactivity after you get tired of even trying to "invest" at this so-called broker.

Google: M1 Finance Fees

Save yourself time and money as I wish I did.

Date of experience: January 19, 2022

This company allowed for 800$ to be taken out of my account and has showed zero empathy and support in helping get it back

Date of experience: November 01, 2024

Currently on day 18 of trying to close the account. After multiple attempts to find out why the delay, we were told we would have to forfeit the incentive bonus already credited to get the rest of the money due to a 1 year time requirement. There is no such requirement in the promotional details. Terrible communications, terrible experience.

Date of experience: April 29, 2024

So far really enjoying the experience so far. There are only a few things I would do to improve
Add the ability to pause or lock auto invest / sell on single investments
The ability to set end goals on single investments ie invest till 100 shares of xyz
To be able to see estimated income real time without having to wait for statements portfolio/ single stocks

Date of experience: June 02, 2022

A game-changing product for automating personal finance. Simple to use and keeps investors from being victims of both their actions and inaction. Only critiques: Mobile deposit is really needed especially for small business owners and consultants. We should be able to fund our M1 accounts from more than just one bank.

Date of experience: June 02, 2022

Started out free, now hidden fees everywhere you turn and also takes for ever to get your money when you make a withdrawal. I would never recommend this platform to anyone

Date of experience: August 20, 2024

I enjoy M1. However, I do think the spend interest rate should be increased to make M1 plus worth it, or drop the $125 for M1 plus, or make perks better for m1 plus like no trade windows, better credit card 2% cash back. It seems the only competitive perk of m1 plus is barrow rate but I do not use barrow and other places checking rates are now getting more competitive. I do not think I will be renewing M1 plus unless price of it comes down or spend rate increases.

Date of experience: June 04, 2022

Basics of m1 finance are working out great for me. I just have few concerns
1. Fees - There are platforms that now offer fractional shares with no fees. M1 should learn from that and make fees reasonable for everyone.
2. APR - The rate for premium customers need to be more lucrative. It's simply not enough! There are platforms that started offering better rates already.
3. UI - Although your user interface is quite unique it fails to do many basic things - eg. Current year performance, distinction between time and money weighted performance etc.

Date of experience: June 03, 2022

Good, but nor great. The rules for smart transfers need work so they don’t contradict the minimum cash one can allocate before investing in the invest accounts.

Right now, this cash allocation overrides the smart transfer rules. It needs to be turned off entirely when the rules are in effect.

Date of experience: June 03, 2022

Zero customer service. They charge $100 for EVERY SINGLE ACCOUNT you have when transfer your money out from their brokerage service. They use social media and influencers to dramatically overblow the benefits of their service. At the end of day, you get a fancy mobile app with really bad trade execution and lots of fees. I will give this 0 if there were a rating. AVOID AT ALL COSTS. There are so many full service brokerage firms out there that charge lesser fee and provide much better service.

Date of experience: February 24, 2023