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Partnership Disclosure
We might be compensated by one of our IRA partners for an account you open through our platform. This helps us keep the rollover service free, but it never impacts the fees you’ll pay on your new account. We only win if you do, and our job is to help you simplify your retirement accounts. We also help people who already have an IRA account even though we might receive no compensation in these situations—because it’s just the right thing to do!

M1 Finance IRA Review 2024: Features, Fees, and More

Updated on May 1, 2024

Learn about our Editorial Process

Key Takeaways
  • M1 Finances offers an IRA with a broad range of pre-set Model Portfolios options to choose from (60+) and the ability to customize. They also manage allocation rebalancing, all within a clean, easy-to-use interface.
  • M1 Plus: For an annual fee of $125, users can access additional features, including an extra trade window and better rates for other M1 products like checking, borrowing, and credit card.
  • High-Yield Cash Account: M1 offers a high-yield cash account as part of its retirement account services, providing an option for earning interest on uninvested cash
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M1 Finance IRA Snapshot

Best if you want
M1 offers a self-directed IRA with an easy-to-use interface, the ability to customize your portfolio (including access to cryptocurrency), and low fees.
Fees
M1 offers $0-commission online trades for stocks, exchange-traded funds (ETFs) and cryptocurrency. As of May 15, 2024, clients who do not reach a minimum value of $10,000 at least one day during each billing cycle will be subject to a $3 monthly fee for using the platform, although there's still no advisory fee, specifically. (Users who have an active M1 Personal Loan are exempt from the $3 monthly fee.)
What you can invest in
Stocks, ETFs, and cryptocurrency
Limitations
It's important to understand that M1 is not an active trading platform; all trades occur during set trade windows (just one daily for M1 Basic users, and two if you're an M1 Plus member) and are executed automatically. You can also initiate trades manually during the trade windows.
Account minimum
$500 (for retirement accounts; other taxable investment accounts have an account minimum of $100)
Ease of Use
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5 stars
Checkmark Pros

• Combines the ease of use of a robo-advisor with more flexibility and agency around investment choices
• Manages allocation rebalancing to match your pre-set preferences
• Low fees that are waived for those carrying a balance of at least $10,000 or who have an active M1 Personal Loan
• Access to cryptocurrency

Checkmark Cons

• Only one or two (for M1 Plus members) trading windows a day — not for day trading
• No options trading for advanced investors
• No human financial advisors available
• No automatic tax loss harvesting

Ready to take control of your assets?
Capitalize helps you consolidate your old 401(k)s by rolling them into an IRA of your choosing. Use an existing IRA if you have one, or we’ll help you open one if you don’t.