M1Reviews of m1.com

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.

Horrible experience with them. I’m still trying to get my traditional Ira funds rolled over from them to Fidelity. It’s been over a month. They won’t make it easy to move your funds. Their customer service is terrible. No help at all. I have to resort to calling them everyday to push for my transfer of funds. STAY AWAY from these guys!

OMG why oh why did I transfer my IRA to M1. I hate with passion these pies BS. I had a regular account with them that was doing really well, and it's only because I bought during the Covid dip. I decided to bring in my IRA. I put in a Buy for only $50K with the intention to buy gradually over time the rest. This thing bought my WHOLE IRA ACCOUNT, NOT JUST $50k. NOW A MONTH LATER I'M DOWN $10K!!! I'M SEEING RED, LITERALLY! STAY AWAY, THE MOST BS USER UNFRIENDLY UI. AND I AM NOT A NEWBIE!!!

I went to transfer out and was informed that M1 charges $200 to close a Roth and $100 to close any other account. This is insane as all the other brokerages I have used do not charge anything for this kind of move. Please look for somewhere else to put your money. This is a Scam way of doing business.

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..

The M1 interface is not my favorite. I do not find it as user friendly and conducive to financial wellness as other platforms. The customer service I experienced when trying to do a rollover was extremely challenging and I was redirected to many different people. IN total I called 4 different times about the same issue and had to re-iterate the problem over and over. I felt stuck in the middle between two different banks that had two different methods of doing the same thing. Very frustrating. Be wary of unneccesary fees.

I tried to remove some positions from my existing M1 Pie. Their AI gave me some instructions over Live Chat, which I followed step-by-step. I specifically asked how to make sure this would not trigger new Buy orders / Auto-rebalancing. Even after turning off "Auto-invest", their system actually did schedule NEW buy orders instead of placing the funds into my account as a Cash balance! I then called their Customer Service, who told me they have tried to get this fixed by the Engineering team for a while but it was still happening. They asked me to reverse everything I had done and to manually place Sell order one by one to circumvent this bug. I already had wasted so much time, I asked to liquidate my account instead. Then they told me this was not possible and the Buy orders would still take place, even if I asked to liquidate the account. I used to love M1 for their simplicity and slick UI/UX in the early days, pretty sad to see what they became over time :-(

This company is a SCAM. All types of fees to rip customers off. Charged me over $100 to transfer account to another brokerage. This company must be sued. SEC must urgently look into this fraud company and ban it. Deserves 0 star.