M1 Finance Promotions: Up to $500 for New Brokerage Account

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
  1. M1 Finance – up to $500 New Account Bonus [EXPIRED]
  2. M1 Finance Account Transfer Bonus – up to $2,500
  3. M1 Spend – $100 [EXPIRED]
  4. M1 Finance Referral Bonus – up to $50
  5. How Does This Compare?
    1. For Transferring Accounts

M1 Finance – up to $500 New Account Bonus [EXPIRED]

M1 Finance is already appealing with their zero management fee but they will also give you up to $500 based on how much you deposit.

Open an account by 3/31/2022 and then deposit, in aggregate, at least $1,000 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 AmountYour Bonus
$1,000 – $4,999.99$30
$5,000 – $9,999.99$75
$10,000 – $29,999.99$150
$30,000 – $49,999.99$300
$50,000 or more$500
[NOTE: This offer has expired]

Here is our full M1 Finance review for more on the service.

Learn more about M1 Finance

M1 Finance Account Transfer Bonus – up to $2,500

If you are transferring assets from another brokerage, M1 will give you up to $2,500 if you are transferring at least $1,000,000. Terms and conditions apply.

There are lower tiers available as well:

Account Transfer SizeYour Bonus
$100,000 – $249,999.99$250
$250,000 – $499,999.99$500
$500,000 – $999,999.99$1,000
$1,000,000+$2,500

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).

Get $100 from M1 Spend

(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, Ally Invest has a slightly higher transfer bonus schedule:

Deposit or Transfer
Amount
Your Bonus
$10,000 – $24,999$100
$25,000 – $99,999$250
$100,000 – $249,999$300
$250,000 – $499,999$600
$500,000 – $999,999$1,200
$1,000,000 – $1,999,999$2,000
$2,000,000 or more$3,000

Ally Invest will also credit you up to $150 in ACATS fees if you transfer assets from another brokerage, on top of the bonus. M1 doesn’t credit you ACATS fees (they see the bonus are partially doing that).

From a strictly bonus perspective, M1 has a solid offer worth considering.

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About Jim Wang

Jim Wang is a forty-something father of four who is a frequent contributor to Forbes and Vanguard's Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.

Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology - Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.

One of his favorite tools (here's my treasure chest of tools,, everything I use) is Personal Capital, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you're on track to retire when you want. It's free.

He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn't want a second job, it's diversified small investments in a few commercial properties and farms in Illinois, Louisiana, and California through AcreTrader.

Recently, he's invested in a few pieces of art on Masterworks too.

>> Read more articles by Jim

Opinions expressed here are the author's alone, not those of any bank or financial institution. This content has not been reviewed, approved or otherwise endorsed by any of these entities.

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