Up to $500 for a new brokerage account
M1 Finance is an investment application that allows for both standalone stock and ETF trading, as well as a robotic 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 element is what has helped M1 Finance gain popularity as they have no management fees and the automated investment bit allows you to invest by selecting ‘pies’ or baskets of stocks aligned on a common theme.
The account minimum is just $100 ($500 for IRAs) and you can’t beat 0% fees.
The real fun starts when you consider the new account promotions they are currently offering:
- M1 expenses – $100
- M1 Finance – up to $500 new account bonus
- M1 Finance Account Transfer Bonus – up to $2,500
- M1 Finance Referral Bonus – up to $50
- How does this compare?
- To transfer accounts
M1 expenses – $100
M1 Spend is the checking account product of M1 Finance and they have a new $100 account promotion. Just deposit $2,500 in the first 14 days and hold that balance for 30 days and you get the money.
There is no annual fee (unless you upgrade the debit card).
Get $100 on M1 spend
(Offer expires 3/31/22)
M1 Finance – up to $500 new account bonus
M1 Finance is already attractive with its zero management fee, but they will also give you up to $500 depending on your deposit amount.
Simply open an account by 12/31/2021, then deposit, in total, at least $1,000 via an ACH deposit within the first 14 days. (an ACH is just a normal bank transfer)
The main restriction is that you cannot have registered for an M1 user account before, so this is for new accounts.
The bonus increases according to the amount you deposit:
|Deposit amount||Your premium|
|$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|
Here’s our full M1 Finance review to learn more about the service.
Learn more about M1 Finance
M1 Finance Account Transfer Bonus – up to $2,500
If you transfer assets from another brokerage, M1 will give you up to $2,500 if you transfer at least $1,000,000.
There are also lower levels:
|Account transfer size||Your premium|
|$100,000 – $249,999.99||$250|
|$250,000 – $499,999.99||$500|
|$500,000 – $999,999.99||$1,000|
M1 Finance Referral Bonus – up to $50
M1 Finance also offers a referral bonus when a customer refers a new customer. This offer goes from $10 to $50 for new accounts and just asks you to fund and consider.
We do not list referral links here because they conflict with other, often higher, offers. If you sign up with a referral link, you are not eligible for other offers.
How does this compare?
If you are looking to open an M1 Finance account, this is one of the best deals they have made available in my recent memory. If you plan to wait, I’m not sure a better one will come.
With a low minimum and no fees, there do not seem to be any pitfalls on the M1 Finance offer.
To transfer accounts
If you’re looking to transfer an account, or if you’re looking to move a large sum and see what could get you the biggest bonus, Ally Invest has a slightly higher transfer bonus schedule:
|Deposit or transfer
|$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 with up to $150 in ACATS fees if you transfer assets from another brokerage, in addition to the bonus. M1 does not credit you with the ACATS fee (they see the bonus does part of it).
From a strictly bonus point of view, M1 has a solid offer to consider.