M1Reviews of m1.com

Not recommended

M1 Finance does not honor its promotions such as its $500 bonus for new users. Not only that, I found out M1 Finance charges customers who wish to close their accounts. Google M1 Finance reviews and you will see what others think of M1 Finance. Moving from the invest to spend sections of the site took weeks and lots of help from M1. According to the latest terms and conditions on M1s site it also invalidates the promotion. A rep there told me they have a similar promotion whereby I need to move money to M1 Finance from another brokerage firm. I guess they'd charge me to move funds to another brokerage firm, the funds would be on hold for a few days at the other brokerage firm, I'd have to fill out a transfer request form at the other brokerage firm, it would take weeks to arrive at M1 Finance, and the funds would be in limbo for a few weeks at M1 Finance before they are even accessible. When I email support about closing the account without fees, they tell me I am ineligible for the promotion.

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.

I tried the platform and I didn't like it so I tried transferring my accounts to another brokerage. I have 2 accounts and they are charging me $100 for each account transfer and an additional $100 dollars to close each account. And if you don't close the account you will be charged additional monthly fees. I have been with 5 different brokerages over the years and I've never paid a penny in transfer fees or for closing an account.

M1 Finance is absolutely not legit. They claim to have an investment account, what they offer is some ridiculous "pie" scheme, where the investor does not know the price the securities are bought at. They expose people to tax liability. When I transferred my assets there, they offered me to either sell the assets exposing me to tax liability, or freeze the account. They run some shady scheme with margin account masquerading as personal loans. The information that the account holder can lose their assets if they borrow money is carefully hidden. They have ridiculous hidden fees like $100 for withdrawing your assets.

Unable to make the simplest of features to work. Don't invest with them . Been trying for an hour to unsubscribe or delete my account. Forgot my password and waited for half an hour for the email. Then the reset just didn't work. No unsubscribe on their spam mail. Jesus christ what is wrong with you .

These people can't even produce a monthly statement on time. What a joke. If you can't trust them to be able to do a simple task like having a monthly statement available when they say they will, do you really want to trust them with your money. Stay Away!

As soon as my deposit came to them they spent it on a stock i reviewed in their system. They decided that i want to buy it and when?!? w t f? When i wanted to sell it they told me i can place a sell order but it will be bought either at 9:30am or at 3pm there are only 2 times of the day their system is able to sell it and it doesnt matter if dont like prices then. Their are in charge not you go speak with their customer service BOT. Not humans in this company only bots and it shows in their lack of brains with such a system.