Top Alternatives to M1 Finance: A List of Similar Investment Platforms

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Acorns

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Both M1 Finance and Acorns are online investment platforms designed to make investing easy for everyone. M1 Finance focuses on giving users control over their portfolio by offering pre-built portfolios, or the ability to customize their own from a wide selection of stocks and ETFs. Acorns emphasizes automated investing and has a range of options to help users save and invest with minimal effort. With Acorns, users can set up automatic contributions, round up purchases charged to their credit or debit cards, or make manual deposits of any amount. Additionally, Acorns offers access to professional financial advice as well as tax-loss harvesting to help reduce capital gains taxes. M1 Finance provides features such as automatic reinvesting of dividends as well as tax-loss harvesting for those with taxable accounts. Both platforms also offer fractional share investing so users can invest in higher priced securities without needing large amounts of money upfront.

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Betterment

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M1 Finance and Betterment are two popular online investment platforms that offer a range of features designed to help users make the most of their investments. Both platforms provide personalized portfolios tailored to your individual goals and risk tolerance, automated portfolio rebalancing, an intuitive user interface, and access to a wide variety of stocks, bonds, ETFs and other investments. M1 Finance is unique in that it allows you to build your own custom portfolios using its “Pie” feature. This gives you the freedom to customize your investments according to your needs and preferences. It also offers tax-loss harvesting for taxable accounts, as well as the ability to borrow against your account for up to 35% of its value. Betterment allows you to choose from several pre-built portfolios tailored to your individual risk tolerance and goals. It also provides advanced features such as automated goal tracking and personalized advice from certified financial planners. Additionally, it offers tax harvesting for retirement accounts, as well as tax diversification when investing in multiple funds at once. Both M1 Finance and Betterment offer powerful investment tools that can help you reach your goals faster with minimal effort required on your part. Ultimately, which platform is right for you will depend on your individual needs and preferences.

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Chime

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M1 Finance and Chime are two websites that offer personal finance services. M1 Finance is designed for investors, offering a variety of investment options such as stocks, ETFs, and fractional shares. The site offers automated portfolio management and goal-based investing strategies. Chime is designed to help users manage their day-to-day banking needs. It provides access to a saving account with no monthly fees or minimum balances, the ability to set up direct deposits and make automatic transfers, and a virtual debit card for online purchases. Both sites offer budgeting tools, but M1 Finance's tools are more tailored towards investors while Chime's tools are more focused on helping users keep track of their spending.

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Coinbase

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M1 Finance and Coinbase are two different websites with distinct features that cater to different user types. M1 Finance is a free investing platform that offers automated portfolio management, fractional shares, and tax-efficient strategies. Coinbase is one of the largest digital currency exchanges, providing users with access to purchase and trade over 30 cryptocurrencies, as well as manage cryptocurrency portfolios through its Pro platform. M1 Finance allows users to create customized portfolio designs by selecting from over 6,000 stocks and ETFs. Users can also set up automated investments based on their individual goals and risk tolerance. Additionally, M1 Finance provides users with access to fractional shares for smaller investors, as well as tax loss harvesting for more advanced investors looking for tax savings. Coinbase offers users an array of services related to digital assets such as buying and selling cryptocurrencies like Bitcoin and Ethereum, setting up cryptocurrency wallets for storage of digital coins, connecting bank accounts for quick deposits or withdrawals of funds in fiat currencies (USD/EUR), and trading cryptocurrencies with other users via limit orders or margin trading on the Pro platform. In addition, Coinbase provides services like merchant processing tools which enable businesses to accept payments in any supported cryptocurrency. Overall, M1 Finance is a great choice for those looking to invest in stocks or ETFs while Coinbase is ideal for those who want access to digital asset trading options such as cryptocurrency exchanges or merchant processing tools.

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Personal Capital

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M1 Finance and Personal Capital are both personal finance websites that provide helpful tools for users to manage their finances. M1 Finance focuses on investing and portfolio management, offering automated investment portfolios tailored to an individual's risk profile. Personal Capital is a comprehensive financial dashboard, providing users with access to detailed investment analytics, budgeting tools, retirement planning advice and more. Both sites offer mobile apps to help users keep track of their investments on the go. M1 Finance allows users to create personalized portfolios from scratch or select from predefined Expert Portfolios while also enabling automated investing with Smart Deposits and Recurring Investments. On the other hand, Personal Capital provides one-on-one financial advice through a personal advisor as well as customized retirement and investment plans tailored to each user's goals.

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E*TRADE

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M1 Finance and E*E*TRADE are both online investment platforms that offer a variety of services to investors. Both platforms allow users to invest in stocks, bonds, ETFs, and mutual funds, as well as offering automated investing options. M1 Finance offers an easy-to-use interface that allows users to set up personalized portfolios with no account minimum or trading fees. They also provide access to fractional shares and tax-loss harvesting for free. Additionally, M1 Finance provides access to over 80 pre-made portfolios tailored to certain risk levels or investment goals. E*E*TRADE also provides a wide range of services for investors including fractional shares and automated investing options. They have more investment choices than M1 Finance, including futures and options trading, but they do require an account minimum of $500 and charge a commission fee for each trade. E*E*TRADE also has research tools such as stock screeners and market analysis tools that can be used by investors when making decisions about their investments. In conclusion, both M1 Finance and E*E*TRADE provide a variety of services for investors looking to manage their own portfolios. M1 Finance is better suited for those with smaller accounts due to its lack of account minimums and trading fees, whereas E*E*TRADE may be better for more experienced traders due to its additional features such as futures and options trading as well as access to research tools.

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eToro

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M1 Finance and eToro are two online investing websites that both offer different pros and cons. M1 Finance is a great option if you’re looking for a robo-advisor with low fees, customizable portfolios, and automated rebalancing. On the other hand, eToro offers an extensive selection of assets to trade, including stocks, ETFs, cryptocurrencies, and commodities. It also has a social trading platform that lets users copy traders who have had success in the past. Both platforms have their own unique features which make them attractive for different types of investors.

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Fidelity

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M1 Finance and Fidelity are both online investment platforms that offer customers a wide range of services. M1 Finance has a unique focus on automated investing, offering users the ability to create custom portfolios of investments and automate their investing experience with automatic rebalancing. M1 Finance also offers fractional shares and tax-loss harvesting, which helps investors maximize returns by offsetting capital gains with losses. Fidelity offers its customers more traditional stock and ETF trading capabilities, as well as the ability to build their own portfolios by selecting individual stocks or ETFs from a list of thousands of products. Fidelity also offers planning tools such as retirement calculators and educational resources to help customers make informed decisions about their investments. Ultimately, both platforms offer users an easy way to invest in the markets, however M1 Finance may be better suited for those looking for an automated approach while Fidelity may be better for those looking for more manual control over their portfolio.

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Public

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M1 Finance and Public are both online investment platforms that offer users the ability to manage their own investments, without the need for a broker or financial advisor. M1 Finance is designed for more experienced investors, while Public appeals to newer investors. M1 Finance allows users to invest in stocks, ETFs and fractional shares. It also offers automated portfolio rebalancing and dividend reinvestment. Users can create custom portfolios using pre-built templates or create their own using up to 100 individual stocks/ETFs. With M1 Finance, users can also open an IRA account along with taxable accounts free of charge. Public provides a unique approach to investing by offering new investors the ability to choose from hundreds of existing portfolios created by experienced investors from all over the world. These portfolios are constantly monitored and adjusted as needed by the portfolio creators themselves, so new investors don’t need any previous investing experience in order to use Public for their investments. Users can also buy fractional shares and access market research tools on the platform. Additionally, Public allows users to open both IRAs and taxable accounts at no cost.

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Robinhood

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M1 Finance and Robinhood are both online platforms offering commission-free trading. M1 Finance is a robo-advisor that provides portfolio management services, while Robinhood is a stock trading app specifically designed for retail investors. M1 Finance allows users to create a diversified portfolio of ETFs or individual stocks and reinvest their dividends automatically, while Robinhood focuses on just buying and selling stocks and ETFs. M1 Finance also offers automated portfolio rebalancing and tracking tools, as well as customizable tax-loss harvesting features. On the other hand, Robinhood does not offer any additional features beyond simple buy / sell orders for stocks or ETFs. Additionally, M1 Finance allows users to borrow up to 35% of their account value at competitive rates for short-term investments or other purposes, something that Robinhood does not provide.

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SoFi

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M1 Finance and SoFi are both digital investment platforms that offer a wide range of investing options. M1 Finance has a unique approach to investing, allowing users to create a portfolio of investments based on their own goals and risk tolerance. This portfolio can then be adjusted as needed, with automated rebalancing and tax-loss harvesting. It also offers fractional share investing and customizable alerts. SoFi offers users the ability to customize their portfolios with automatic diversification and access to ETFs, stocks, bonds, mutual funds, and more. Its dashboard provides an overview of all the accounts associated with the platform, along with analytics tools like performance tracking. SoFi also provides educational resources such as webinars and online courses to help its users become more informed investors. Both platforms offer mobile apps for convenient trading on the go.

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TD Ameritrade

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M1 Finance and TD Ameritrade are two popular online trading platforms that provide a wide range of investing options to customers. Both offer access to stocks, ETFs, mutual funds, and other securities. M1 Finance is ideal for those looking to invest in pre-built portfolios with diverse allocations. The platform allows users to create their own personalized portfolios from a variety of asset classes and gives them the ability to automatically re-balance their investments over time. Additionally, M1 Finance enables users to get started with as little as $100 and does not charge any commissions or trading fees on its trades. TD Ameritrade is an established platform that offers more investment options than M1 Finance does such as options, futures, and forex markets. TD Ameritrade also offers extensive educational resources and tools such as webinars and articles, allowing investors to gain valuable knowledge about stock markets and investing strategies. However, unlike M1 Finance, TD Ameritrade charges commissions on many of its trades although it provides more complex features. In conclusion, while both platforms offer quality services for online investors, they cater to different types of traders. Those looking for a hands-on approach with access to more investment options will benefit from using TD Ameritrade whereas those seeking an automated way of managing portfolios should consider M1 Finance due its low fees and user friendly interface.

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thinkorswim

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M1 Finance and thinkorswim both offer online trading platforms, but with different features designed to meet the needs of different types of investors. M1 Finance is a robo-advisory platform that offers automated portfolio management and investment advice, free of charge. It also provides users with access to over 6,000 exchange-traded funds (ETFs) and stocks. For more active traders, thinkorswim offers stock trading with real-time data, customizable charts and strategies for analyzing markets. Additionally, it offers futures and options trading as well as a variety of educational resources for all levels of investors.

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Vanguard

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M1 Finance and Vanguard are both websites that offer a variety of services to their customers. M1 Finance is an online investment platform that allows users to create personalized portfolios tailored to their goals, while Vanguard provides traditional investing tools such as low-cost mutual funds and ETFs. Both platforms have accessible interfaces and offer robust educational resources. M1 Finance offers advanced features such as automated rebalancing, tax-loss harvesting, and fractional shares that make it a great choice for high-level traders. Additionally, M1 also provides access to SIPC insured accounts for added security. On the other hand, Vanguard’s suite of mutual funds and ETFs has been around for decades and its clients benefit from competitively low fees compared to some other services. Its website also includes easy-to-use tools for research and portfolio tracking. In conclusion, both M1 Finance and Vanguard are excellent options depending on what type of investor you are. M1's extensive features may be more suited for those who prefer active trading strategies, while Vanguard's lower fees make it ideal for individuals looking for a more passive approach to investing.

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Webull

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M1 Finance and Webull are both popular online brokers that offer similar services such as trading stocks, ETFs, and options. They both have mobile apps available for use on Apple and Android devices, making it easy to research stocks and manage investments on the go. M1 Finance offers a unique feature called "Pies" which allows users to create personalized portfolios by selecting stocks and ETFs to invest in. The service also offers free portfolio rebalancing, tax-loss harvesting, goal setting, auto-investing, customization of individual holdings, and automated account transfers. Webull provides comprehensive market data with real-time quotes and charts to help users make informed decisions with their investments. It also has an extensive library of educational resources and advanced tools such as options trading, margin trading, paper trading simulations, customizable watchlists, and stock screener filters. Additionally, it offers commission-free trades on select stocks and ETFs.

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Wealthsimple

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M1 Finance and Wealthsimple are both online investment platforms that offer tools for users to manage their personal finances. M1 Finance is a robo-advisor that allows users to create an individualized portfolio of stocks, ETFs (Exchange Traded Funds) and other assets. This platform offers automated portfolio management, customizable investment strategies, and tax-loss harvesting. M1 Finance also offers fractional shares so users can invest in any dollar amount they choose and provides free trades on most of its services. Wealthsimple is a robo-advisor platform with human advisors available for additional financial guidance. Wealthsimple’s features include automated portfolio management, integrated socially responsible investing options, and access to a team of certified financial planners. This platform also offers fractional shares, allowing users to invest in any dollar amount they choose. Additionally, Wealthsimple has competitive pricing tiers with lower fees as accounts increase in size.