Editor’s Note: M1 Finance has made the decision to close its M1 Plus membership program, effective May 15th, 2024. After that date, M1 Plus features will be available to all M1 customers. This includes additional cash-back rewards, in-depth investing tools, and preferred Margin Loan rates. At the same time, M1s pricing model will also change. All customers will incur a $3 monthly fee to use the platform. However, if you have a balance of $10,000 or more with M1 Finance or an active M1 personal loan, the $3 fee will be waived. Stay tuned as we will update this review and all other M1-related content when the changes take effect.
M1 Finance is an investment app that allows for both self-directed trading of stocks and ETFs as well as a robo-advisory component that can help with automated investing. They also offer other financial services, including a debit card linked to a spending account.
The investment piece is what helped M1 Finance rise in popularity because they have zero management fees and the automated investing bit allows you to invest by selecting “pies,” or baskets of stocks aligned by a common theme.
The account minimum is just $100 ($500 for IRAs) and you can’t beat 0% in advisory fees.
The real fun starts when you consider the new account promotions they currently have on tap:
Table of Contents
| Brokerage | Bonus Promotion | Link |
|---|---|---|
 | 🏆 up to $5,000 | Learn more |
 | up to 12 free stocks from the Brokerage+ up to $3,000 from Cash Management | Learn more |
 | up to 7 Fractional Shares ($35 value) | Learn more |
 | free stock (valued $5 - $200) | Learn more |
 | Up to $500 cash | Learn more |
 | up to $700 | Learn more |
M1 Finance – up to $20,000 New Account Bonus [EXPIRED]
M1 Finance is already appealing with their zero management fee but they will also give you up to $20,000 based on how much you deposit.
Open an account by 3/31/2024 and then deposit, in aggregate, at least $100,000 via an ACH deposit within the first 14 days. (an ACH is just a regular bank transfer) Terms and conditions apply.
The key restriction is that you cannot have registered for an M1 user account before, so this is for new accounts.
The bonus increases based on how much you deposit:
| Deposit Amount | Your Bonus |
|---|---|
| $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 |
Here is our full M1 Finance review for more on the service.
M1 Spend – $100 [EXPIRED]
This offer has expired.
M1 Spend is the checking account product of M1 Finance and they have a new account promotion of $100. First, deposit $2,500 within the first 14 days and maintain that balance for 30 days and you get the cash. Terms and conditions apply.
There are no annual fees (unless you upgrade to M1 Plus membership).
(Offer expired 3/31/22)
M1 Finance Referral Bonus – up to $50
M1 Finance also offers a referral bonus when one customer refers a new customer. This offer changes from $10 all the way up to $50 for new accounts and just requires you to fund and account.
We do not list referral links here because it conflicts with the other, often higher, offers. If you sign up with a referral link, you aren’t eligible for the other offers.
How Does This Compare?
If you’re looking to open an M1 Finance account, this is one of the best offers they’ve made available in my recent memory. If you’re thinking about waiting, I’m not sure a better one will come along.
With a low minimum and no advisory fees, there don’t appear to be any gotchas on the M1 Finance offer.
For Transferring Accounts
If you’re looking to transfer an account, or looking to move a large sum and seeing what might get you the biggest bonus, our brokerage bonus page lists the best offers we know.
TastyTrade has the most comparable active offer:
| Deposit Amount | Cash Bonus |
|---|---|
| $2,000 – $4,999 | $50 |
| $5,000 – $24,999 | $100 |
| $25,000 – $99,999 | $500 |
| $100,000 – $249,999 | $2,000 |
| $250,000 – $499,999 | $3,000 |
| $500,000 – $999,999 | $4,000 |
| $1,000,000+ | $5,000 |
From a strictly bonus perspective, M1 has a solid offer worth considering.
