M1 Finance vs Webull
Last updated July 2026
M1 Finance
Custom pie-based investing with no advisory fee
Advantages
- No advisory fee on M1 Invest, pay $0/yr on any balance
- Custom Pies let you build fully personalized portfolios with automatic rebalancing
- Fractional shares included
- M1 Borrow: margin at 6.75% on M1 Plus (competitive rates)
- High-yield checking (M1 High-Yield Cash Account paying 5.00% APY as of mid-2026)
Drawbacks
- No tax-loss harvesting (a real gap for taxable accounts)
- Only one trading window per day on the free plan
- M1 Plus is now $3/mo, previously free
- No human advisor access
Webull
Commission-free trading with more advanced tools
Advantages
- Commission-free stock, ETF, options, crypto, and futures trading
- Advanced charting with 50+ indicators, drawing tools, level 2 quotes
- 24/5 extended-hours trading on major U.S. stocks
- Paper trading account for practice
- IRAs supported (traditional, Roth, rollover)
Drawbacks
- Steeper learning curve than Robinhood
- No mutual funds, no bonds
- Customer service reviews are mixed
M1 Finance and Webull both play in investing platforms, but they're aimed at different buyers. M1 Finance is built for dIY investors who want to design their own portfolio with automatic rebalancing. Webull is built for active traders who want advanced tools without a per-trade fee. Which one fits depends on which of those descriptions sounds more like you.
Feature Comparison
| Feature | M1 Finance | Webull |
|---|---|---|
| Advisory Fee | $0 | -- |
| Minimum Investment | $100 for taxable, $500 for retirement | -- |
| Rebalancing | Automatic based on your custom pie targets | -- |
| Tax-Loss Harvesting | No | -- |
| Borrowing/Margin | M1 Borrow at 6.75% (M1 Plus) | -- |
| Portfolio Customization | High, fully custom pies | -- |
| Human Advisor | No | -- |
| Cash Account APY | 5.00% APY (M1 High-Yield Cash Account) | -- |
| Trading Commissions | -- | $0 stocks, ETFs, options, crypto, futures |
| Options Trading | -- | $0 per contract; advanced options analytics |
| Charting Tools | -- | Advanced, 50+ indicators, level 2 quotes |
| Cryptocurrency Trading | -- | Yes, broader coin list than Robinhood |
| Futures Trading | -- | Yes |
| Margin Rate | -- | Around 9.24% standard; tiered rates |
| IRA Match | -- | None |
| Research & Analysis | -- | Analyst ratings, screeners, paper trading |
Too Close to Call
M1 Finance and Webull land roughly even overall; the right pick depends on which of their strengths matters more to you.
M1 Finance's standout strength: No advisory fee on M1 Invest, pay $0/yr on any balance. Webull's standout strength: Commission-free stock, ETF, options, crypto, and futures trading. Neither dominates across the board, and both have well-known weak spots. M1 Finance's biggest drawback: No tax-loss harvesting (a real gap for taxable accounts). Webull's biggest drawback: Steeper learning curve than Robinhood. Pick the one whose strengths line up with what you actually need.
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